Tech and data
Currency transfers for multiple entities
Straight-through processing FX for intra-company transfers used to be impossible. Royal Bank of Scotland’s Stamos Fokianos explains how this can now be done via RBS FiX
Bloomberg and Cognotec partner on streaming rates
LONDON – Bloomberg is bringing streaming FX rates to users of its Bloomberg Professional terminals, courtesy of a joint venture with FX vendor Cognotec, the two firms will announce today (August 2).
IG Markets to add FX futures
LONDON – Spread-betting firm IG Markets will add streaming FX spot prices and futures execution to its online trading platform in Q4 to attract more institutional business, a senior official told FX Week .
ABN Amro launches IR Mini-Swaps for the risk averse
LONDON – ABN Amro has launched an interest rate hedging tool for clients who do not want to use derivatives to gain exposure to this market.
Swapstream raises quote sizes
LONDON – The four banks making markets on Swapstream – ABN Amro, Commerzbank, Dresdner Kleinwort Wasserstein and HVB Group – have raised quote sizes on the electronic interest rate swaps trading platform from around e100 million to e200 million apiece.
Dollar vol could be back
LONDON – The global currency markets could be in for a bout of unseasonal volatility and trading activity if the US dollar breaks through its recent range against the euro, traders said last week.
SocGen using JRisk for forex options
LONDON – Société Générale is now using JRisk, a trading and risk management platform from Application Networks, to support its FX options business. The French bank began implementing the technology last July. Users are spread across the bank’s Paris, New…
CME volumes and income up by a third
CHICAGO – The Chicago Mercantile Exchange (CME) last week reported record volumes and revenues for the second quarter, with average daily forex volume up 28% to $176,000 compared with $137,000 in Q2 2003.
FNX takes Aspen Hedge to Japan
TOKYO – Philadelphia-based FX vendor FNX will launch Aspen Hedge, its multi-asset product for hedge funds, in Japan in October.
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.