Foreign exchange
Clients switch on to Portware FX
NEW YORK - Portware has seen a 70% increase in clients using Portware FX, its real-time foreign exchange aggregation system, since the start of 2008, according to Harrell Smith, head of product strategy for the firm in New York.
Thomson adds Icap tick data
JERSEY CITY & LONDON - Interdealer broker Icap is making historical tick data for foreign exchange, fixed-income and interest rate products available through Thomson Reuters, in a bid to broaden its client base among algorithmic trading, valuation and…
Lehman's Burgess now at ING
LONDON - Ian Burgess, formerly of Lehman Brothers, has joined ING's institutional sales division in London.
WestLB drops RealStream
DÜSSELDORF - WestLB is no longer using Cognotec's RealStream Manager and has signed up to Eurobase's Siena Gateway, in a move to streamline its electronic foreign exchange infrastructure.
'Instividual' investors switch on to FX
One area of the foreign exchange market that appears to be continuing on a healthy growth trajectory is retail FX trading, according to research released last week.
StatPro chooses GFI for options data
LONDON - StatPro, a London-based vendor of analytics and data systems for the asset management industry, has signed a contract to use GFI's foreign exchange options data in its pricing and risk management services.
Strong FX fails to lift CME in Q3
CHICAGO - The Chicago Mercantile Exchange (CME) posted record volumes in foreign exchange products in Q3 but suffered a $28 million loss associated with FXMarketSpace, its joint-venture platform with Thomson Reuters.
Investors shun FX-only funds
LONDON - Fund managers are abandoning foreign exchange-only funds in favour of currency overlay programmes, according to research by London-based client strategy firm ClientKnowledge.
South Korea hits back at foreign media
SEOUL - The South Korean government hit back at foreign media last Wednesday (October 29), claiming Korea is better positioned to withstand the global economic crisis now than it was during the 1997 Asian crisis.
RBS sells e5m note linked to new FX Radar
LONDON - Royal Bank of Scotland (RBS) has sold its first structured product linked to the new FX Radar Index, an automated index linked to 20 emerging market currencies.
Citi's Sherrard relocates to Asia
LONDON & SINGAPORE - Rodney Sherrard, a foreign exchange options trader for Citi in London, is transferring to the bank's Singapore office to work in correlation trading.
UBS chops 13 in forex
ZURICH - Stephane Treny, global head of foreign exchange corporate sales for UBS, was one of 13 redundancies from the FX team at the Swiss bank's Zurich office last Tuesday (October 28).
StanChart revamps e-pricing
SINGAPORE - Standard Chartered has gone live with a liquidity aggregator developed for its foreign exchange electronic pricing and trading division in Singapore.
MF Global gets new CEO as Davis quits
NEW YORK - Kevin Davis resigned as chief executive of MF Global on October 29 and has been replaced by Bernard Dan, after a turbulent few months for the institutional broker.
Harsh climate suits Aus FX
SYDNEY - Australian foreign exchange dealers expect to continue benefiting from increased deleveraging and client hedging activities seen since September.
Westpac reports rise in FX revenues
SYDNEY - Westpac has reported a rise in foreign exchange and energy revenues amid heightened market volatility.
FX results up down under
LONDON & SYDNEY - Australian lenders ANZ and National Australia Bank (NAB) have announced strong full-year revenues for foreign exchange, despite revealing overall profits affected by tumultuous financial market conditions.
NFA in FX regulatory crackdown
CHICAGO - The National Futures Association (NFA) is proposing an overhaul of the regulations governing foreign exchange trading for members, in a bid to protect the interests of retail traders in the US.
Managed Models adds two new clients
LONDON - London-based data analytics company Managed Models has signed on two more banks, as institutions seek to add efficiency to foreign exchange liquidity management operations.
A true test for Asian markets
"Don't panic, but be fearful" was the message at this year's FX Week Asia Congress, held last Tuesday (October 21) in Singapore.
Coupland expected to head forex sales at Lloyds-HBOS
LONDON - Nigel Coupland is tipped to become head of foreign exchange sales at the merged Lloyds TSB-HBOS entity in London, according to a London-based headhunter.