Tech and data
‘No euro target’ for ECB
LONDON -- The European Central Bank has no target level for the exchange rate of the euro, director of monetary policy, Hans-Joachim Klöckers, reiterated at FX Week ’s second annual congress last week.
CME cuts European fees
CHICAGO -- The Chicago Mercantile Exchange (CME) has slashed transaction fees for all products traded electronically on Globex in Europe, bringing its costs in line with rivals the Chicago Board of Trade and Eurex. However, the cut of 73% to 44 cents,…
Reuters adds SuperDerivatives to 3000
LONDON -- Reuters last week added SuperDerivatives’ currency options pricing system to its 3000 Xtra platform as part of its efforts to boost its position in the treasury markets.
UBS ousts Citi from top spot
LONDON -- UBS is the best bank in foreign exchange, according to a poll of nearly 1,000 voters in FX Week’s annual survey of the industry.
Reuters launches FX forwards in India
MUMBAI -- Reuters last week announced the launch of its forwards FX broking service in India, in what marks the latest development of the country's forex market.
SG CIB takes JRisk for forex
PARIS -- Californian derivatives technology firm Application Networks has sold its JRisk options trading and risk management tool to SG Corporate & Investment Banking (SG CIB) in Paris.
Yen and the art of market cycle maintenance
The yen resurgence that began this summer is still in play. But with the Japanese authorities still sporadically intervening in the currency markets, this upward path may meet some sharp setbacks. Simon Derrick, head of Bank of New York's currency…
Patsystems links to IFX markets
LONDON -- UK derivatives trading software provider Patsystems has formed an agreement with margin FX player IFX Markets to offer users FX trading.
eSpeed platform hits spot
NEW YORK -- Electronic broker eSpeed's recently launched spot FX platform is already seeing success, it said last week as it published its Q3 results.
Hedging Taiwan dollar risk
Exporters exposed to movements in the Taiwan dollar must hedge by using the non-deliverable forwards market. Michael Image, FX options structurer for northeast Asia at Standard Chartered Bank in Hong Kong, suggests a zero upfront premium solution, which…
New era dawns for FX data
NEW YORK -- A new era in FX data is on its way, as the continuous-linked settlement service (CLS) for forex prepares to sell its market data back to users early next year.
More prime brokers for FXall
LONDON -- Multi-bank FX trading portal FXall has signed a further three banks to its prime brokerage messaging platform prior to its December launch. The enhancement to its Settlement Center service automates the give-up of trade details between the…
Derivatech develops structuring tool
NEW YORK -- Growing use of structured products in foreign exchange has prompted risk management vendor Derivatech to develop a module for structuring a limitless array of complex options.
Fundtech targets Korea
SEOUL -- US technology vendor Fundtech is targeting business in Korea ahead of the addition of the Korean won on the Continuous Linked Settlement (CLS) system for FX trades in 2004.
FX continues to prop up flagging Reuters
LONDON -- FX provided some positive returns for Reuters in the third quarter, despite a backdrop of overall decline at the firm, according to its results published last week.
GFI buys exotic options model
LONDON -- Inter-dealer broker and market data firm GFI Group has bought options pricing model dVega, and integrated it with the latest release of its flagship options pricing tool Fenics FX, GFI will announce today (October 27).
CLS plans business continuity improvements
SINGAPORE -- Continuous Linked Settlement (CLS) Bank International intends to move one of its two operations sites from greater London, to provide more reliable business continuity in case of an interruption to business, Joseph De Feo, president and…
Reuters names new global head of risk
PARIS -- UK trading systems and market data vendor Reuters has made Sebastien Rousotte global head of risk -- a position that has been empty since the departure of Mike Whitaker earlier this summer ( FX Week , August 18).