Tech and data
CoesFX expands but watchdog still bites
NEW YORK – Online futures commission merchant CoesFX has expanded its team in response to rapid growth and has formed an advisory board to help project its platform to a wider audience.
Fimat's FX platform goes live
LONDON – Fimat, the brokerage arm of investment bank SG, has gone live with FimatFX, its online foreign exchange trading platform, a senior official told FX Week .
Making amends for seasonal trends
Lower volatility and range-bound markets call for capital preservation with enhanced yields during the summer, says Jeffrey Lins, director of quantitative analysis at Saxo Bank in Copenhagen
e-fx AWARDS
The FX Week inaugural e-FX Awards
Global Link upgrades Asia OM
HONG KONG – State Street is releasing a new trade order management system for its e-commerce platform, Global Link, in Asia within six months.
Barclays joins EBS Prime
LONDON – Barclays Capital has joined EBS’s recently launched FX prime brokerage service EBS Prime, the firms announced last week.
US regulator loses retail fraud case appeal
CHICAGO – US regulator the Commodity Futures Trading Commission (CFTC) has lost an appeal to assert its jurisdiction over a retail FX trading firm it accused of fraud. Appeal court judges found in the test case of the futures regulator and AlaronFX of…
CME adds four to boost Globex
CHICAGO – The Chicago Mercantile Exchange (CME) last week announced four appointments as part of a drive to boost electronic trading growth on its Globex platform.
EBS Live doubles data delivery frequency
LONDON – Electronic broker EBS last week announced an enhancement to its recently launched direct data feed EBS Live to double the frequency of its FX spot rate ‘time slices’ to 500 milliseconds.
Euro doubts remain despite EC growth forecasts
LONDON – Economic growth in the eurozone is set to exceed the European Commission’s forecast of 1.7% in 2004, it said in its quarterly report last week – but analysts remain sceptical that this will be enough to sustain the euro’s current rally.
Front adds new matrix
NEW YORK – Front Capital Systems will release the latest version of Front Arena Treasury Trader at the FX Week USA Congress tomorrow (July 13). Version 2004.1 introduces a spread matrix to monitor customer margins.
JPMC and ABN add CLS clients
NEW YORK – JP Morgan and ABN Amro have added new clients to their continuous-linked settlement (CLS) services. JP Morgan Treasury Services implemented Prudential Financial’s (PFI) global derivatives business in four weeks – its fastest implementation yet…
LavaFX on track despite Citi deal
NEW YORK – Citigroup’s planned acquisition of securities trading vendor Lava Trading will not alter the New-York based firm’s plans to launch LavaFX, a multi-bank FX trading platform, next month, a Lava spokesperson told FX Week.
Rupiah vol ahead as elections continue
JAKARTA – The Indonesian rupiah continued to rise last week, hitting 9,000 against the dollar following a smooth first round to the country’s first-ever presidential elections. But market participants are wary of the medium-term outlook as the country…
Brokertalk to bring chat back to the market
LONDON – A group of former investment bankers, asset managers and fixed-income traders has launched a news service to provide traders with a view of market activity they feel has been lost in the age of e-trading. Brokertalk launched last week (July 5)…
FNX licenses derivatives analytics
Philadelphia – Treasury management system vendor FNX is adding to the derivatives analytics on its Sierra platform with models from US banking software vendor Suite.
Hotspot adds market makers
NEW JERSEY – Hotspot FXi has added six banks to its institutional trading marketplace to act as market makers and prime brokers. BNP Paribas, HSBC, HVB Group, Société Générale (SG) and WestLB are now all live on the platform providing streamed prices to…
SuperDerivatives a hit in Greece
ATHENS – SuperDerivatives is making headway in Greece, with four new customers for its forex options pricing system SD-FX over recent months, the firm said last week.
RBS migrates FXstream to Caplin
LONDON – The Royal Bank of Scotland (RBS) has started using technology from UK vendor Caplin Systems to bring real-time connectivity to its internet-based forex trading platform FXstream.