Tech and data
Exchange model for e-FX unlikely
DAVOS -- The foreign exchange market is unlikely to move to a formal exchange model, whereby customers can deal directly with each other, said speakers at a seminar organised by ACI -- The Financial Markets Association.
Exchange model for e-FX unlikely
DAVOS -- The foreign exchange market is unlikely to move to a formal exchange model, whereby customers can deal directly with each other, said speakers at a seminar organised by ACI -- The Financial Markets Association.
Abbey National adds to Arcontech data
LONDON -- Abbey National Treasury Services (Ants) is contributing its interest rates to market data vendors using Arcontech's CityVision Multiple Vendor Contribution System (MVCS), the UK-based technology vendor will announce this week.
Sungard coup for FXConnect
LONDON -- State Street Corporation is to announce this week it has secured a coveted deal with UK treasury software firm Sungard.
Market mulls options benchmark
LONDON -- Standard FX options benchmark prices could be the answer to inaccuracies in marking exposures to market, but whether the move is possible is a matter for debate, according to senior options market participants.
Asian forex players muster in Malaysia
KUALA LUMPUR -- Forex market players in Asia will gather in Kuala Lumpur this week for ACI -- The Financial Markets Association's 22nd Asia Pacific Congress.
Tech briefs
SG launches e-MM
Funds step up online FX trading
NEW YORK -- Fund managers are trading more foreign exchange online, according to numbers released by multi-bank portal FXall last week. The client sector now accounts for one quarter of trades by volume on FXall, up from 7% at its launch in May 2001.
Bloomberg's e-forwards debut
NEW YORK -- Bloomberg has completed the rollout of its PowerMatch FX interbank platform for forward swaps, it announced last week.
e-Mid targets electronic settlement of MM trades
MILAN -- e-Mid, a provider of electronic markets for treasury products, aims to reduce money markets settlement risk on its platforms by automating the process, according to an official at the firm in Milan.
Q3 treasury broking results bring ray of light for Reuters
LONDON -- Reuters' treasury broking services provided a rare piece of good news in the UK technology and data firm's Q3 results, published last week.
MMS plans growth in forex analysis
LONDON -- FX and fixed-income analysis provider MMS International, part of the newly formed MMS Group, is to grow its headcount by 20%.
Convenience is key for online trading
GENEVA -- Convenience is a key factor driving buy-side clients' use of online FX portals, according to professionals attending the Swift International Banking Operations Seminar (Sibos) conference in Geneva at the start of this month.
Upsurge in German forex
FRANKFURT -- Deregulation of the German insurance market is attracting the world's top investment banks to expand in Frankfurt.
Tech briefs
SG takes SuperDerivatives for another year
FXall ups customer list to 350
NEW YORK -- Multi-bank FX trading portal FXall last week announced it has signed up more than 350 customers, following the addition of a monthly record of 44 new clients in September.
China FX emergence continues
BEIJING -- The liberalisation and development of China’s FX market is continuing, presenting banks with a potentially lucrative new market.
European currencies win out as Japan and US woes bite
LONDON -- European currencies were the winners last week as fears over economic and political issues intensified pressure on the dollar and the yen.
HSBC enhances electronic MM trading and delivery
LONDON -- HSBC is planning to add new features to its electronic money markets service in November, an official at the bank told FX Week .
European currencies win out as Japan and US woes bite
LONDON -- European currencies were the winners last week as fears over economic and political issues intensified pressure on the dollar and the yen.
Institutional clients boost Gain volumes
WARREN, NJ -- Increasing numbers of institutional investors using online FX trading firm Gain Capital’s platform helped boost volumes to a record $25 billion in August, said Gain’s New Jersey-based chief executive, Mark Galant.
Tradition forges into retail
NEW YORK -- Inter-dealer broker Tradition is moving into the retail market with the launch of a new online FX trading platform targeting individual investors, the firm announced last week.
Tullett Financial Information launches SwapsMarker Europe on Bloomberg
LONDON -- Tullett Financial Information, a subsidiary of brokerage firm Tullet & Tokyo Liberty that provides data on derivatives products, has launched its SwapMarkerEurope interest rate swaps service on Bloomberg.
Tech Briefs
WSS hits 1 million FX trades a day