Tech and data
CMC to launch in N America
NEW YORK -- Online FX trading firm CMC Group is making a bid for North American retail forex clients with a new office in New York.
BBA launches new Libor fixings
LONDON -- The British Bankers’ Association (BBA) added two new currencies to its Libor (London Interbank Overnight Rate) fixings last week.
Fairex opens Japan data centre
SINGAPORE -- Singapore-based e-trading technology company Fairex International Financial Systems has opened a data centre in Japan, and plans further expansion into the Japanese market, a senior official told FX Week .
Banks take tighter control of liquidity management post CLS
LONDON -- The Continuous Linked Settlement Service (CLS) is affecting liquidity management processes, with many settlement members taking tighter control of their payment procedures, senior bank officials told FX Week .
FX Online Japan grows
TOKYO -- FX Online Japan has signed up 35 customers to use its internet-based retail FX trading system, since the company launched in April. James Gow, managing director and co-founder of the firm, told FX Week that he expected to "pick up around 20…
JPMC demos new risk tool
BOSTON -- JP Morgan Chase last week demonstrated its new risk management service, MorganRisk, at FX Week sister publication Risk magazine's ninth annual Risk USA conference in Boston.
Twist issues commercial payments requirements
LONDON -- Integration standards body Twist (the Treasury Workstation Integration Standards Team) has issued requirements for a range of XML-based messages to automate commercial payments processing for banks and their clients.
GFI targets corporates for options pricing
LONDON -- New York-based interdealer broker GFI Group today (June 16) launches a new online FX option pricing service targeting corporate firms and lower-volume FX users.
CME e-ratio exceeds 50%
CHICAGO -- The Chicago Mercantile Exchange's (CME) ratio of electronically traded FX trades is increasing rapidly every month, senior CME officials told FX Week .
Cheap volatility brings yen opportunities
Japanese economic growth has outstripped many western economies over the past year, and the next currency breakout in the FX markets could be yen strength. Alex Schumann and Trevor Nathan, of Commonwealth Bank of Australia in Sydney, show how investors…
Deal4Free white-label vols grow
LONDON -- Currency Management Corporation (CMC) Group has seen a 19% month-on-month rise in FX volumes through white-label partners on its Deal4Free trading platform since the beginning of the year, a senior CMC official told FX Week .
Trema revenues rocket
MONACO -- Swedish FX technology vendor Trema reported a 17% rise in revenues for 2002 last week on the back of the increasing dominance of the central-banking market.
Rabobank to change credit lines post-CLS adoption
UTRECHT -- Rabobank is to change its FX credit lines to differentiate between members and non-members of the Continuous Linked Settlement (CLS) service, a senior official at the bank told FX Week .
SingTech FXportal continues to grow
SINGAPORE -- PrismLight, Singapore Technologies' in-house, multi-bank FX trading portal, has signed around 10 new users since the start of 2003, a senior official at the firm told FX Week .
Reuters FX under threat EBS-Bloomberg forex alliance prompts defiant response from UK firm
LONDON -- Reuters was last week fighting back to secure its position in FX, following the announcement of an alliance between two rivals.
EUR-denominated diesel fuel hedge
There has been a recent trend for corporates to migrate the risk management of their commodity exposure from their procurement to their treasury departments. As the corporate’s risk is centralised, it is managed as part of a portfolio of more standard FX…
ACM aims for money managers
GENEVA -- Online FX trading firm AC Markets is hoping to increase its money manager client base with the launch of a new trading platform, a senior official at the firm told FX Week .
SuperDerivatives launches new options pricing service
LONDON -- FX options pricing vendor SuperDerivatives has launched a new version of its benchmark FX options pricing system, the firm will announce this week.
SEB takes NFS treasury trading link
STOCKHOLM -- SEB Merchant Banking has taken technology from Nordic Financial Systems (NFS) to enable its corporate clients to execute FX transactions via their own treasury management systems.