Market data
City Index drops three in London
LONDON - Retail trading company City Index laid off three foreign exchange staff from its margin FX provider, IFX Markets, in London last Thursday (October 16), as it integrates the FX business with recently acquired FX Solutions.
Japan traders dump short yen positions
TOKYO - Japanese retail foreign exchange margin traders abandoned $16 billion worth of short yen positions within days last week, in a scramble to limit losses from unwinding carry trades.
Strike while the iron is hot
Pete Luxton, economic adviser, and Shant Movsesian, manager, foreign exchange options, at Informa Global Markets in London suggest a basket strategy to play euro weakness
JDFX gets smart with Kontrol
ZURICH - Foreign exchange trading company JDFX has capitalised on an increasing focus on risk management within financial markets by launching Kontrol, a system built to eliminate inefficiencies and dangers caused by calculating risk several times a day…
Króna in chaos during Iceland's meltdown
REYKJAVIK - Confusion reigned in Icelandic króna trading last week, as the country's central bank, Sedlabanki, abandoned its peg to a basket of nine currencies a day after it was effected.
Baxter enters algo execution
NEW YORK - Baxter Financial Services will add algorithmic execution features over its electronic communications network (ECN) Baxter FX by the end of the year.
RealStream Margin revamped
LONDON - Cognotec is set to roll out the latest version of its web-based margin trading system, RealStream Margin 3.0, in response to market demand for efficiency and enhanced risk management products.
CME outsources E-quotes data app to CVS
CHICAGO - CME Group has rolled out a new version of its web-based E-quotes data display application and wireless add-on - built and hosted by technology partner Computer Voice Systems (CVS) -which incorporates data from acquisitions the Chicago Board of…
Dealers report liquidity still 'patchy'
LONDON & HONG KONG - Global foreign exchange markets continued to suffer from lapses in liquidity in another week plagued by turmoil in the financial markets.
IG buys 87.5% of FXOnline Japan
TOKYO - IG Group, a London-based spread-betting company is acquiring an 87.5% stake worth about $207 million in Tokyo-based margin foreign exchange trading company FXOnline Japan.
EPFR tests EM forex flows
BOSTON - Fund flows data vendor EPFR Global is testing a new dataset that shows money flows into and out of emerging market (EM) and global currencies.
Strong Q3 for Goldman and Morgan Stanley
LONDON - Goldman Sachs and Morgan Stanley revealed strong third-quarter performances for their currencies operations, despite analysts casting doubt over the future of both businesses as standalone investment banks.
Fenics Enterprise takes off
NEW YORK & LONDON - GFI is today (September 22) announcing the launch of Fenics Enterprise through Fenics FX 11.1, the latest version of its pricing and risk management software.
The post-trade value chain
Nick Dyne, head of business development at post-trade technology vendor Logicscope in London, evaluates the prospect of a 'virtual' back office
Banks scale back options market-making
GLOBAL - Risk aversion and a sharp rise in foreign exchange options volatility is prompting banks to scale back their market-making activities in foreign exchange options, say traders.
Natixis in Bear Stearns forex hiring spree
NEW YORK - Natixis has hired 17 foreign exchange staff from defunct US investment bank Bear Stearns to kick-start the expansion of its FX platform.
Interdealer brokers' merger talks over
LONDON & NEW YORK - Stock prices of interdealer brokers Tullett Prebon and GFI Group plummeted on September 9, as a failure "to reach acceptable economic terms" halted ongoing merger talks.
GTS Pro broadens range
LONDON - City Index will extend the list of tradable products on recently acquired retail foreign exchange trading platform GTS Pro for non-US customers in October, a senior official has told FX Week .
Credit Suisse algos on Bloomberg
LONDON - Credit Suisse is offering its foreign exchange algorithmic trading strategies on Bloomberg FX Dealing, as the bank continues on its path to offer the service to a broader client base.