Electronic trading
IG up despite Japan retail leverage cap
LONDON - IG Group reported a 16% rise in revenues for the third quarter, to £79 million, versus the same period last year, despite new caps on leverage for retail traders in Japan.
RBC deploys Progress Apama
LONDON – RBC Capital Markets has deployed Progress Apama's FX Aggregation system to support its FX dealing operations, the vendor announced last week (September 8).
In Brief, September 13, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Retail brokers evolve to meet regulation
NEW YORK - Retail brokers in the US continue to shape up internal business practices to abide by best practices introduced by industry regulator the National Futures Association (NFA).
Deutsche Bank enhances Autobahn FX for FXO
LONDON - Deutsche Bank has built out its trading capabilities for forex options on electronic trading platform Autobahn FX, as competition for electronic business moves to the options market.
Exchange volumes continue rise in August
CHICAGO – Volumes in foreign exchange products on the Chicago Mercantile Exchange were up 15% in August, with 11.7 million contracts traded a day on average, the exchange said last week.
Non-banks lead 20% rise in FX turnover
BASEL - The global financial crisis has led to a slowdown in the growth of the foreign exchange markets, with most activity shifting to the investor community from the trade-based flow.
Alpari US live with Morgan Stanley FXPB
Retail trading company Alpari US has dropped Newedge in favour of Morgan Stanley as its foreign exchange prime broker, as part of plans to reduce trade sizes and auto-hedge its retail flows.
Commerzbank builds FX globally
Commerzbank has made key hires in sales and trading across Asia, Europe and the US as it strengthens its global FX business, the bank said on August 25.
Thomson Reuters veteran to leave
Mark Redwood, president, sales and trading, in the markets division at Thomson Reuters in London, is due to leave by the end of the year, the company confirms.
Sizeable portion of banks not planning to become clearing members
Battle for client clearing business set to heat up, reveals Risk interdealer poll
Hotspot FX continues year-on-year growth
JERSEY CITY, NJ - Hotspot FX reported average daily volumes of $33 billion – double count – in July, up 55% from $21.30 billion a year earlier.
FXall adds head of global trade support
NEW YORK - Quito Zuba joins FXall as senior director and global head of trade support, as of today (August 16), in New York.
RBC hires European e-distribution chief from Citi
LONDON - RBC Capital Markets has hired Katherine Krebser as head of e-commerce distribution for Europe from Citi in London.
UniCredit restarts build in Asia
HONG KONG – UniCredit has made a key hire in Hong Kong as it reinstates plans to grow its presence in the Asia-Pacific, after spending the past year restructuring its fixed-income and currencies (FIC) business.
BAML live on CLS/Traiana by October
NEW YORK - Bank of America Merrill Lynch is due to go live on the CLS/Traiana joint venture trade-aggregation service by October, making it the last of the eight founding banks to begin processing through the service.
Interdealer brokers get boost from FX
LONDON - BGC Partners saw a 54.6% rise in foreign exchange revenues in the second quarter, due to a continuing rebound in global volumes, the broker reported last Thursday (August 5).
Exchange trading sees sharp rise in July
CHICAGO & LONDON - Exchange trading experienced a sharp year-on-year rise in July, overshadowing a marginal increase on traditional spot systems.
Wade's in at Deutsche Bank
NEW YORK - Deutsche Bank has boosted its electronic foreign exchange sales effort to corporate clients with a key hire from Citi.
2010 e-FX Awards are presented to winners in New York
Each year, FX Week holds the e-FX Awards, recognising innovation and success in the electronic foreign exchange trading industry.
CLS targets buy side with Omgeo
NEW YORK - CLS and Omgeo have teamed up to improve post-trade reporting by the buy-side community with the addition of CLS FX instructions to Omgeo’s standard settlement instruction (SSI) database.
EBS chases competition with decimalisation launch
NEW YORK - EBS's plans to offer decimalisation at the end of August could lead to a fall in market liquidity, caution traders.
Hotspot FX volumes up year-on-year
JERSEY CITY, NJ - Hotspot FX reported average daily volumes of $37.2 billion – double count – in June, up from $22.5 billion a year earlier.