Tech and data
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).
FX markets shrug off Kenya attacks
LONDON -- There was muted reaction in the FX markets to last week’s terrorist attacks in Kenya.
Tech briefs
RBS Greenwich takes FNX
Forex e-trading volumes rising
NEW JERSEY -- US-based retail and institutional FX trading service Gain Capital notched up record trading volumes in October, the firm said.
Nedbank takes Reuters’ web OMS
JOHANNESBURG -- South African bank Nedbank became the first bank to go live with an internet-enabled forex order management service from Reuters Treasury Solutions, the bank announced last week.
Prebon joins SwapsWire
LONDON -- Inter-dealer broker Prebon Yamane went live last week on SwapsWire, an electronic service for confirming swaps deals that launched earlier this month.
CURRENCY SPOTLIGHT - Sterling strong for now
Sterling should remain supported by favourable fundamental and structural factors, but it is vulnerable to fluctuations in investor risk appetite, says Prebon Yamane’s Lena Komileva
Cross-products find their feet
LONDON -- Cross-product trading is no longer just a "mantra" chanted by sell-side bankers, said Matt Desselberger, managing director, corporate structured products group at Deutsche Bank in London.
Buy side embraces e-FX
LONDON -- Buy-side consumers of FX are increasingly using technology to add to their trading operations.
Tech briefs - Multi-bank portals fight for viability
Multi-bank FX portals’ fight for viability is about to be won -- or lost -- said London-based research firm ClientKnowledge, after publishing its estimates of the portals’ trading volumes last week.
Reuters reasserts forex dominance
UK trading technology and information firm Reuters may be having a difficult year, but its forex business is booming, according to FX Week ’s 2002 survey.
Top five dealers close ranks
Shrinking market rewards top players in biggest ever forex survey
Congress bites
CME launches online futures tool
BBH upgrades web platform for investors
NEW YORK -- US custodian Brown Brothers Harriman (BBH) went live with the upgrade of its web-based currency trading service FX WorldView last week, Brenda Kerins, head of FX e-commerce at BBH in New York told FX Week .
Tech briefs
WSS launches upgrades
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Rate cut turns market anti-dollar
NEW YORK -- The US dollar hit three-month lows against several major currencies last week, triggering a welcome return of volatility to the markets after months of range trading.
Yen shrugs off loans plan
TOKYO -- There was muted reaction in the FX markets last week to the Japanese authorities' plans to tackle bankss bad loans and revive the region's faltering financial system, analysts told FX Week .