Tech and data
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
Resona opts for Reuters’ FX platform
TOKYO -- Resona Bank expects go live with an FX-dealing internet platform hosted by Reuters in April. The Japanese bank has selected Reuters Electronic Trading for Automated Dealing (Retad) as the foundation for the platform, which will be aimed at…
EBS set to cut delays with direct data feed
LONDON -- Spot broker EBS will launch a new direct data feed today, February 2, which aims to cut delays in the distribution of its spot prices from third parties such as Bloomberg, Moneyline and Reuters.
Taiwan’s Sinopac chooses GFI
TAIPEI -- US inter-dealer broker and market data supplier GFI last week announced that Taiwanese financial institution Bank Sinopac has started using Fenics FX, GFI’s flagship forex options pricing, analytical and revaluation system.
Global Link upgrades matching
HONG KONG -- Global Link, State Street Bank’s e-commerce platform, will release an upgraded version of its real-time, FX multi-counterparty trade matching and confirmation system this week.
TraderTools on FXall
Multi-bank FX platform FXall has granted New York-based vendor TraderTools a licence to offer its STPlatform for automated streaming prices via FXall.
Cognotec banks on Hotspot
LONDON -- HotspotFXi is set to add to its list of market makers this quarter as new banks connect to the trading platform through Cognotec, Hotspot chief executive officer John Eley said last week. The first banks to use the connection are currently in…
Sentiment indexes gain importance
LONDON -- Traders and investors are increasingly looking to new market sentiment indexes to help them manage their positions in the currency markets.
Cost of exceptions down 30%
LIVINGSTON, NJ -- The cost of exceptions, or failed trades, has fallen almost 30% in the past year, as institutions automate exception processing, according to the latest survey by SunGard eProcess Intelligence (ePI), the processing unit of SunGard. The…
SPECIAL REPORT: CHINA Opportunity China: banks reveal plans
SHANGHAI -- Top forex banks are stepping up their strategies to win lucrative FX business in China as it gradually liberalises its economy. Major international players are taking steps such as increasing staffing levels in the Asia-Pacific, or carrying…
Market upbeat on Reuters’ Q4 decline
LONDON -- Reuters’ share price rose by more than 13% on the London Stock Exchange on January 15 from £2.79 to £3.17 -- where it hovered until close of trading last week -- following a statement by the vendor on its Q4 performance.
UBS announces 50th CLS client
Zurich -- Vienna-based bank Raiffeisen Zentralbank Österreich (RZB) is the fiftieth client to sign up for UBS’s third-party continuous-linked settlement (CLS) service, UBS announced last week.