Tech and data
Hotspot and Saxo add MNI FX news
NEW JERSEY -- Hotspot FX and Saxo Bank both announced the addition of free FX news and analysis from New York-based Market News International (MNI) to their trading platforms last week.
HSBC takes central bank on CLS
LONDON -- HSBC has implemented the first central bank on CLS, it said last week.
Gartmore leads new hedge fund launches
LONDON -- Gartmore Investment Management has added to the recent explosion in currency funds with the launch of a new hedge fund. The fund, available to institutional investors around the world, builds on the firm’s 16-year track record in currency…
Forex TV links to FCMs
NEW YORK -- Forex Television, a provider of video-based FX analysis and news, has established a transaction services group to link viewers of its news and research to a selection of futures commission merchants (FCMs) and money managers.
Emerging FX takes off online
LONDON -- Increasing demand from both corporate and hedge fund clients for the ability to trade emerging markets (EM) currencies online is leading banks to boost their e-trading offerings in this area, senior officials told FX Week .
Bloomberg to add Pronet analysis
LONDON -- Bloomberg is to offer real-time FX research from UK-based analysis firm Pronet Analytics, a subsidiary of The Market Age group.
SuperD launches risk system
LONDON -- SuperDerivatives has launched an FX options risk management system, the UK-based vendor will announce today (March 1).
Near-term ringgit peg change unlikely
KUALA LUMPUR -- Despite recent reported comments from Malaysia’s second finance minister, Tan Sri Nor Mohamed Yakcop, Malaysia is unlikely to change the ringgit’s current peg to the US dollar -- at least until the country’s general election is over.
Reuters to launch FX swaps
LONDON -- Reuters is to expand its foreign exchange product range by launching FX swaps on its Reuters Dealing 3000 matching platform next month, a senior official said last week.
Icap keeps Moneyline platform
LONDON -- New York-based market data vendor Moneyline Telerate has extended a deal to supply its TRS (Trading Room System) data distribution platform to Icap when the London-based inter-dealer broker moves to a new trading floor in May, shrugging off…
Saxo targets institutional clients with CLS service
COPENHAGEN -- Saxo Bank plans to add more institutional clients after launching its third-party link-up to the continuous-linked settlement service via UBS earlier this month, Saxo’s co-chief executive officer Lars Christensen told FX Week .
GNI to launch FX module
LONDON -- UK broker GNI, a division of alternative investment provider Man Group, is set to go live with a new ‘click-and-deal’ spot FX trading module on its online platform GNI Touch, following final testing with clients this week, a senior official at…
Market to test central banks post-G7
LONDON -- The G7 communiqué released after the Boca Raton meeting on February 7 will lead to the market testing the resolve of central banks to limit FX moves, analysts agreed last week.
Lava to launch FX product range
NEW YORK -- Equities technology firm Lava Trading will make a foray into the FX market in Q2 with its new LavaFX product range, targeting broker-dealers, market-makers and hedge funds.
HSBC white-label client goes live
DÜSSELDORF -- German bank HSBC Trinkaus and Burkhardt is the first HSBC client to use its white-label offering over Reuters Electronic Trading -- Automated Dealing (Retad) platform, HSBC announced last week.
ODL Securities to expand into FX
LONDON -- ODL Securities Limited (ODL), a London-based derivatives and equities trading firm, will go live with a new e-FX system in March, a spokesperson for the firm told FX Week .
JP Morgan launches FXPrime
NEW YORK -- JP Morgan has gone live with FXPrime, an automated prime brokerage system for forex, the bank announced last week.
Korea builds utility to connect to CLS
SEOUL -- Consultancy BearingPoint has won the contract to build a utility through which Korean banks will use the continuous-linked settlement service (CLS) for FX when the Korean won goes live on the service in Q4.
Informa completes analysis integration
LONDON -- Informa Global Markets (IGM), the new analysis firm formed through the merger of MMS International and MCM, has completed the integration of its analysis teams.
How to ride out the rising Aussie
The stellar rise of the Aussie doesn’t have to be bad news for Australian exporters. Wes Price, of ANZ Bank’s consultative risk management group in Melbourne, explains why