Tech and data
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.
Pronet Analytics and FXCM forge mutual distribution deal
LONDON -- Pronet Analytics, a subsidiary of The Market Age group, and New York-based retail trading platform Forex Capital Markets (FXCM), have forged a deal to allow clients of both firms to use their respective services.
Five-year-old euro comes of age
FRANKFURT -- When the euro was first introduced, many were sceptical about its potential for success and concerned about its impact on the FX market as a whole. But as it celebrated its five-year anniversary this month, the euro’s status is gradually…
BarCap adds online sterling swaps
LONDON -- Barclays Capital added sterling swaps to its single dealer online interest rate swaps platform last month.
IFX upgrades FX back office
LONDON -- Financial trading and spread-betting firm IFX went live with a new FX back-office system from London-based vendor ForexManage last week (January 5).
Coca Cola Oz takes SuperDerivatives
LONDON -- SuperDerivatives has licensed its currency options pricing and risk management system to Australia-based beverage manufacturer Coca-Cola Amatil, the vendor said last week.
September - Quote unquote
"We jointly decided that the best move would be to increase its FX expertise" -- Jim Brown , managing director of TH Lee Global Internet Managers, on the departure of Currenex chief executive Lori Mirek in January
GFI continues Asian build-up
SINGAPORE -- Two support staff are set to join inter-dealer broker and market data supplier GFI in Asia in January, as the firm aims to capitalise on growing opportunities in the region.
May - Banks’ operational risk lapse exposed
A special investigation by FX Week in May revealed a lapse in operational risk management at banks that do not separate risk management budgets from business lines.
Top banks sign up for GFI’s options revaluation fixings
NEW YORK -- JP Morgan Chase, Bank of America, Deutsche Bank and Bank of Montreal are all using inter-dealer broker and market data vendor GFI’s FX option revaluation fixings, GFI said last week.