Tech and data
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).
‘Discount forward’ for hedging euro/sterling
With euro/sterling forecast to strengthen next year, Danny Goldblum, from HSBC’s global FX structuring team in London, proposes a solution to give a UK corporate that imports from Europe the protection of a forward contract at an improved rate
Traiana goes live, adds brokers
NEW YORK -- The e-FX prime brokerage industry picked up momentum last week, as the first banks went live on Traiana’s automated FX prime brokerage software and two more key prime broker banks signed up for the system.
Trayport plans multi-portal screen
LONDON -- Software vendor Trayport is set to launch Exchange Gateway, an interface that allows traders to access multiple forex markets from one screen, in Q1, 2004.
SuperDerivatives spices up Xerox Mexicana
MEXICO CITY -- US printing technology company Xerox Corporation has signed a deal with SuperDerivatives to use the UK-based forex technology firm’s FX option benchmark pricing system in Xerox Mexicana, its Mexican subsidiary.
Deutsche adds e-options
LONDON -- Deutsche Bank will go live with FX options on its autobahnFX trading platform in January, in response to client demand, a bank official told FX Week .
Asset manager technology hinders op risk management
LONDON -- Less than 40% of global asset managers believe they have the necessary technology to manage operational risk and automation issues effectively, according to a survey released last week.
Cognotec ups connectivity
LONDON -- Irish FX trading technology vendor Cognotec will go live with its first major upgrade to its AutoDeal+ foreign exchange trading platform next month, which automates links to three external trading platforms.
Etrade adds CME FX futures
LONDON -- Retail trading firm Etrade has added FX futures to its equities trading platform through a link with the Chicago Mercantile Exchange’s Globex platform, bringing the total number of futures contracts available to eight.
FXall adds CLS messaging
LONDON -- FXall is set to go live with its CLS messaging service for third-party banks and asset managers through its Settlement Center, the multi-bank portal will announce today.