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Bush war stance sinks dollar
NEW YORK -- The US dollar slid to a four-year low against the euro last week, as US president George Bush’s stance over Iraq continued to harden.
Tech briefs
4Cast adds search facilities
Vol surge expected from east Europe
WARSAW -- Political events in countries slated to join the European Union and the euro are set to trigger a wave of FX volatility in emerging European countries, market participants told FX Week .
Third-party CLS business comes under the spotlight in New York this week
NEW YORK -- The CLS (Continuous Linked Settlement) Group hosts a seminar in New York this Wednesday (March 12) to offer information on linking up third parties to its new forex settlement service.
RBS FiXes benchmarks with EBS
LONDON -- The Royal Bank of Scotland (RBS) has gone live with a new benchmark engine for spot and forwards FX rates, called RBSFiX.
CMS Forex launches e-FX platform
NEW YORK -- New York-based broker Capital Market Services Forex (CMS) aims to add 1,000 retail FX clients in the next six months with a new online spot FX trading platform.
MMS relaunches technical pages
LONDON -- FX and fixed-income research and analysis firm MMS International is re-launching its FX Technical Pages.
Asian forex still untapped
SINAGPORE -- Five years on from the Asian financial crisis, FX trading opportunities in the region remain largely untapped, market participants told FX Week .
Rand reverses 2001 downtrend
JOHANNESBURG -- Interest rate yields, gold prices and a budget announcement powered the South African rand to a 20-month high against the dollar last week.
GCI adds online clients and volumes
BELIZE -- Online broker GCI Financial has added institutional FX customers to its mainly retail client base, a senior official at the firm in Belize told FX Week .
SuperDerivatives adds Koram Bank
LONDON -- FX options pricing vendor SuperDerivatives has added Koram Bank of South Korea to its growing client list, the firm said last week.
Citi triumphs in Asian CLS
TAIWAN -- Citigroup appears to be winning the battle for third-party CLS business in Asia. The bank last week signed up its fourth client in Taiwan alone -- Bank of Kaohsiung, which now joins Union Bank of Taiwan and two other un-named Taiwanese banks as…
Bank One takes MarginMan
CHICAGO -- Foreign exchange traders at Chicago-based Bank One are now using MarginMan, a collateral-management software system from California-based Integral Development.
Tech briefs
State Treasury of Finland joins growing Trema client list
Refco launches web prime brokerage using Currenex
CHICAGO -- Refco F/X Associates, part of Refco Group, has taken its FX prime brokerage service online in a bid to improve efficiency, a senior official at the broker in Chicago told FX Week .
IG takeover sparks FX job worries
LONDON -- FX jobs could be under threat if City Index, the London-based spread-betting shop owned by Intercapital private group, goes ahead with a takeover of rival IG Index.
Hotspot FXi opens in Europe
NEW JERSEY -- Online institutional FX trading platform Hotspot FXi has hired Rakesh Shah to head its new European office in London.
FX offers hope for Reuters
LONDON -- Dealing 3000, Reuters’ FX trading system, lost some ground last year, but FX provided some joy for the information and technology giant in its annual results published last week.
Market static as uncertainty rules
LONDON -- There was little action in G3 FX last week, as the geopolitical stand-off over Iraq extended to the markets.
Technology Briefs
CL uses City Networks for CLS
RBA unwinds Australian dollar holding
SYDNEY -- The Reserve Bank of Australia took profits on its Australian dollar holdings earlier this year, selling nearly A$500 million, according to the bank’s February bulletin.
eSpeed to add spot and forwards forex
LONDON -- Electronic broker eSpeed is adding spot and forwards FX broking to its platform in the second half of this year to cater for traders who cover multiple asset classes.
Tech briefs
CBA adds FXall link