Tech and data
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 .
JP Morgan Chase to launch white-label forex platform
NEW YORK -- JP Morgan is planning to launch a white-label FX trading platform before the end of the year, becoming the latest entrant in this rapidly developing market.
Options software boosts exotics appetite
LONDON -- The use of independent FX options pricing software by corporates may have narrowed banks’ margins, but it has given a substantial boost to the exotics market, banks told FX Week .
Derivatech wins first options risk software deal in China
BEIJING -- Bank of China has licensed FX options software from US-based vendor Derivatech in what marks the country’s first forex risk management software deal.
ACI Beirut Congress: exhibition preview
BEIRUT -- Between the challenging seminar programme and the exhaustive social schedule planned by hosts of the 43rd ACI World Congress this week, the 600+ delegates will get a chance to sample product demonstrations and promotions at the exhibition.
COESfx takes Saxo’s prices
NEW YORK -- New York-based electronic currency network COESfx is set to go live with Saxo Bank’s spot FX prices by the end of this month.
Gain completes third funding round
NEW JERSEY -- Online retail FX player Gain Capital last week announced the completion of its third round of investment funding totalling $10 million. The investment from Tudor Ventures, the venture capital (VC) subsidiary of investment manager Tudor…
SEBFX to grow with Fix
STOCKHOLM -- SEB Merchant Banking is set for rapid growth in foreign exchange by year-end as three agreements to distribute executable FX prices via the Financial Information Exchange (Fix) protocol go live, giving the bank access to a new client base,…
BTM updates FX platform
TOKYO -- Bank of Tokyo-Mitsubishi (BTM) expects to go live with the latest online FX solution from Irish technology company Cognotec by the end of November, senior officials at the bank in Tokyo told FX Week.
Citi takes Moneyline
LONDON -- Citigroup is replacing multiple Reuters products with Moneyline Telerate services at about 2,000 positions in the firm’s global fixed income division, Moneyline said last week.
Wachovia takes BEA system
CHARLOTTE – BEA Systems’ WebLogic application server is being used to support the recently launched web-based FX platform, Online FX, at Wachovia Bank, a unit of Wachovia Corp, officials at the California-based vendor said last week.