Foreign exchange
Asia Pacific: Korean agency to manage $17bn of forex reserves
SEOUL – Korea Investment Corporation (KIC) signed a contract with the central bank of Korea last week to invest $17 billion of the country's foreign exchange reserves, according to the KIC.
Getting ahead in algo trading
LONDON – Progress Software, the technology vendor, has published a guide for the buy-side on how to get ahead in algorithmic trading in FX and other asset classes.
Harnessing e-FX benefits
FXall's Mark Warms, general manager, Europe, says treasuries should consolidate their trading functions.Platforms can help them do this, but flexibility is needed
CMS updates VT Trader
NEW YORK – Online currency-trading firm CMS Forex has introduced a new version of its chart-based platform, VT Trader, with 100+ tools and technical indicators, enhanced charting and more customisable options.
E-FX luring bank talent
LONDON – Players in the e-FX space are luring talent from traditional banks as the e-forex landscape evolves, according to market participants.
FX investors defrauded
FLORIDA – Some 250 retail FX investors are set to receive $2.7 million in compensation, after a fraud committed by Gibraltar Monetary Corporation was uncovered by the CFTC.
Creating an algorithmic safeguard
Stuart Crooks, vice-president, sales for FlexFX in London, points to algorithmic trading as a way to keep up with the increasing speed at which the market moves
Algorithmic trading takes centre stage
LONDON – The algorithmic trading market has mushroomed to around one fifth of the total volume of FX trading, according to Icap, London-based interdealer broker.
New algo trading tool from tech vendor trio
NEW YORK – Technology vendors Portware, Random Walk Computing and IBM have teamed up to launch Portware on Power, a new system for algorithmic trading.
MarketSpace: a tough challenge for CLS
The joint venture between CME and Reuters to create a market-wide FX exchange has every chance of changing the face of the industry.
Currenex signs two STP deals
LONDON – Currenex, the FX platform and technology vendor, has signed two straight-through processing (STP) deals with technology vendors BT Radianz and Wall Street Systems (WSS).
SuperD hires for e-trading capability
LONDON – SuperDerivatives is developing online trading capabilities for its options pricing and risk management software, and has made a senior hire to lead the effort.
GFI rolls out pricing tool for structured products
NEW YORK – Interdealer broker, GFI has released a new version of its pricing and risk management software, incorporating a structuring and pricing tool for structured products.
Lava spreads to Russia
MOSCOW – Lava Trading will introduce trading in the Russian rouble on its FX trading platform, Lava FX, it announced at the ACI Russia International FX seminar in Moscow last week.
FXC issues guidance paper on autodealing
NEW YORK – The Foreign Exchange Committee (FXC) has published a paper on autodealing, covering market impact and best-practice recommendations for dealers and prime brokers.
SunGard launches liquidity management solution
LONDON – SunGard last week launched a liquidity management solution to help corporates and banks make funding decisions based on their cash positions.
Orc adds FX coverage
STOCKHOLM – Swedish technology vendor Orc Software is expanding its multi-asset trading capabilities to the forex market by providing direct access to FXall and Hotspot FXi.
GFT opens London office
LONDON – GFT Global Markets, a new division of US firm Global Futures & Forex, has opened a London office offering spot FX, spread betting and contracts for differences.
Korea to upgrade forex system
The Financial Supervisory Service (FSS) in South Korea will launch its upgraded Foreign Exchange Monitoring System on July 1.
Investment banks post record Q2 revenues
NEW YORK – US investment banks are continuing a bumper year, with second-quarter results for fixed-income businesses exceeding previous records.
Record trading for FX Connect and CME
BOSTON & CHICAGO – State Street's multibank e-FX exchange trading system, FX Connect, and the Chicago Mercantile Exchange (CME) have both reached new milestones in FX trading volumes.
Reuters launching algo data packages
NEW YORK – Reuters has completed the technical work and finalised the pricing of its offerings for algorithmic trading operations, officials confirm.
Reuters buys risk management specialist
LONDON – Reuters has paid $41 million for Application Networks, a risk management software specialist, as it bids to make headway in the market.
Polar launches currency fund
LONDON - Hedge fund firm Polar Capital has launched its first currency-based fund, a move indicating continued interest in FX as an asset class.