Tech and data
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.
Portals see record FX volumes
LONDON -- Heightened volatility last Tuesday (September 30) created one of the busiest days in years for FX trading, senior officials told FX Week . Electronic portals proved their worth, with many managing record spot volumes.
Total return analysis: currencies vs bonds
Establishing the risk and return characteristics of holding a currency position sometimes necessitates presenting a more formal economic interpretation of an FX transaction, says Robert Balan, head of financial market strategies at Saxo Bank in Copenhagen
CME targets online FX market for Asia growth
BEIJING -- Electronic foreign exchange derivatives trading will play a key role in the Chicago Mercantile Exchange’s (CME’s) development in Asia over the next few years, according to a senior official at the exchange.
Currenex targets retail with ESP
LONDON -- Currenex is targeting the retail forex market with its new executable streaming prices (ESP) technology, in a move that marks a repositioning in strategy for the multi-bank platform.
Merrill takes Reuters/AVT
NEW YORK -- Merrill Lynch has gone live with Reuters’ bank-to-customer FX trading technology, in what marks the UK vendor’s first sale since it merged its B2C unit with AVT Technologies last December.
Isda and Fix join forces
NEW YORK -- The International Swaps and Derivatives Association and Fix Protocol have formed a joint working group to share information on the development of their respective Fix and FpML messaging standards.
Prime brokers pilot FXall message service
LONDON -- Multi-bank FX trading portal FXall will go live with its upgraded prime broker message service in mid-December. The enhancement will automate messaging between the executing bank, prime broker and prime brokerage client irrespective of whether…
Middle East lures FX firms
BEIRUT -- The potential for growing business in the Middle East has this year brought two new firms to industry body ACI’s annual congress, which was held in Beirut last week.
RJ O’Brien launches online FX
CHICAGO -- Futures broker RJ O’Brien will launch online spot FX trading using a white-labelled platform from Michigan-based firm Global Forex Trading (GFT) by the end of this month, a senior official at the Chicago-based firm told FX Week .