Tech and data
FIXing it for buy-side and sell-side firms
LONDON -- Buy-side and sell-side firms are increasingly adopting the Financial Information eXchange (FIX) messaging standard for FX, according to senior officials.
Tech briefs
Bank of Taiwan takes Citi for CLS
Technology briefs
Bundesbank completes STP for foreign currency reserves
October - Multi-bank evolution continues
Multi-bank evolution continues
Markets get off to a busy start
LONDON -- There was no rest for FX markets through the festive period and into 2003, as the euro hit a three-year high against the dollar before the greenback fought back to recover.
March - Atriax sunk by failed merger talks
Atriax sunk by failed merger talks
V-Banking upgrade
SYDNEY -- Australian FX dealing technology firm Velocity Systems International last week unveiled a new version of its web-based e-treasury software.
Tech briefs
Bank One installs Calypso to help expand interest rate derivatives
Problem trades are ‘eating up forex profits’ -- SunGard
LONDON -- Nearly a quarter of FX transaction profits are eaten up by ‘exceptions’, or problem trades, according to a survey of 500 financial institutions.
Hotspot FXi plans launch in Europe
NEW JERSEY -- Online institutional FX trading platform Hotspot FXi will launch a European office in the first quarter of next year, in response to increasing volumes, president and chief executive officer John Eley told FX Week .
Merger sparks vendor war
LONDON -- Sparks were flying in the e-forex industry last week, as banks, vendors and brokers reacted to the fallout from Reuters’ purchase of rival FX trading software firm AVT Technologies.
Global tensions force euro higher
LONDON -- The euro hit a three-year high against the dollar late last week on heightening risk aversion among investors as global political tensions mounted.
ING breaks new ground in FX swaps
SEOUL -- Dutch bank ING is to provide a 21-year swap for South Korea’s first cross-border residential mortgage-backed security (RMBS). "This is the first 21-year cross-border swap done in the Korean market," said Marc Choo, a Hong Kong-based director in…
Streaming data in demand
LONDON -- Streaming data provider Dealing Technologies is seeing strong interest from FX banks in its new product, senior officials at the firm told FX Week.
Dawn of the superleague
The future of foreign exchange is outsourcing, say industry experts
Reuters to acquire AVT Technologies
LONDON -- Reuters is buying UK foreign exchange trading technology firm AVT Technologies for an undisclosed sum, Reuters announced last week.
Euro slumbers through ECB decision
FRANKFURT -- There was little reaction in the FX markets to the European Central Bank’s (ECB) decision to cut interest rates by 50 basis points last Thursday (December 5).
Reuters extends Icap deal
LONDON -- UK information and technology firm Reuters has extended its agreement with London-based interdealer broker Icap to add more treasury and fixed-income market data to its platform, Reuters announced last week.
Merrill Lynch takes Fenics
NEW YORK -- Merrill Lynch is deploying the Fenics FX options pricing software from New York-based broker and vendor GFI Group in 100 global positions, GFI announces today (December 9). Fenics replaces Merrill’s existing in-house pricing platform for FX…
Multi-bank pricing is working, says Centradia
LONDON -- The multi-bank model is a success for clients trading on Centradia, according to figures released by the European portal last week. It said that for half its trades, the platform has returned more competitive prices than the client’s…
Greenback recovery continues apace
The US dollar has brushed aside negative sentiment but this week’s data releases will be pivotal for the currency, says Shahab Jalinoos, currency strategist at UBS Warburg
FXall adds liquidity providers
LONDON -- Multi-bank trading portal FXall will announce the addition of four new liquidity providers to its platform today (December 2).