Tech and data
Making the most of upcoming volatility
For the currency overlay manager looking to take advantage of a burst of market volatility at the start of the fourth quarter, Simon Derrick, head of Bank of New York's currency strategy team, describes a simple, low-cost way for them to express their…
State St departures force restructure
MASSACHUSETTS – State Street Global Markets (SSGM) is set to restructure its e-commerce platform, Global Link, following the departure of two senior staff.
CitiFX signs up to Currenex
LONDON – Online trading platform Currenex has linked up with Citigroup to offer the CitiFX Benchmark product to its customers.
Preparing for a break from range trading
Markets have been fairly flat over recent months. How can options traders make the most of this, and how should they prepare for a break from range? By Cornelius Luca, FX Concepts' New York-based head of client advisory for the Americas
Saxo to stream deep prices
COPENHAGEN – Denmark's Saxo Bank will make a streaming feed of executable foreign exchange prices available to clients in off-market order sizes later this year.
Townsend links with three FX firms
CHICAGO – Clients of trading technology and analytics vendor Townsend Analytics will soon be able to trade with three specialist FX trading firms via Townsend's RealTick Platform, the firm announced this month.
Buy side to see Matching prices
LONDON – Fund managers, corporates, and mid-tier banks will soon get access to Reuters' interbank FX rates for the first time, the UK vendor will announce today (September 13).
Saxo to offer online FX to RCG
COPENHAGEN – Saxo Bank has linked up with futures clearing firm Rosenthal Collins Group (RCG) to offer its forex capabilities to the Chicago-based firm's online customers.
Protecting speculative trade management positions
Some clients will have specific views on the future movements of currencies to which they have exposure. UBS's global FX solutions group shows how barrier strategies can be used to limit risk on these positions
Chinese banks turn to Reuters for help with derivatives regulations
SHANGHAI – Guangdong Development Bank (GDB), First Sino Bank (FSB) and the Bank of Shanghai (BOS) are installing systems from Reuters to comply with derivatives regulations introduced by the China Banking Regulatory Commission (CBRC) in March.
Saxo Bank to launch in the US
NEW YORK – Retail forex specialist Saxo Bank will launch its online trading platform SaxoTrader in the US this week.
Rankings reveal diversifying inter-dealer market
The inter-dealer market for foreign exchange is shrinking, as an increasing number of mid-tier players retreat from market-making to become clients of the top firms. The banks that remain are working hard to consolidate their positions as liquidity…
ABN Amro takes Traiana for PB
CHICAGO – ABN Amro has signed up to use Traiana's TRM (Trading Relationship Management) solution, which automates the give-up of trades between prime brokers.
FX volumes up by a third
LONDON – FX trading volumes are up by nearly a third over the past three years, according to new research from UK consultancy ClientKnowledge.
RiskMetrics signs 200th client for ASP platform
NEW YORK – Risk management vendor RiskMetrics Group has signed 200 clients for ASP (application service provider) delivery of its RiskManager, CreditManager and CDOManager tools, it said last week.
Commerce FX storms US retail market
BOSTON – Commerce FX, a subsidiary of Boston-based Commerce Bank & Trust, is reaping the rewards of its entrance into the retail margin trading market last year, an official told FX Week .
Dollar/yen break-out expected
TOKYO – Technical indicators suggest dollar/yen could be set to break out of the tight trading range it has been trapped in since June. "Resistance is declining and support is rising. We will get a decent break-out trade soon," said Karen Griffith, head…
EBS reports per-minute record post jobs data
LONDON – Traders manning the traditionally quiet summer desks saw a surprise burst of action on August 6, as a massive surge in volumes followed shock jobs data out of the US.
RBS flicks to video switches for forex
NEW YORK – FX traders at Royal Bank of Scotland (RBS) in New York are battling data latency by reverting to a traditional form of technology – video switches.