Market data
The technological arms race continues...
One of the key takeaways from the FX Week USA congress last Tuesday is that the unrelenting spend on technology seen over the past few years is unlikely to end. A quick poll of delegates found that two-thirds will spend more on technology in fiscal year…
Overcoming the post-trade dilemma
Heiko Sundermann is head of FXMM client technology at UBS, and is programme manager of a front-to-back business process re-engineering initiative for FX-cash products that aims to increase operations capacity
Onix offers real-time market data solution
LONDON - London-based software vendor Onix Solutions has released a FIX engine and ITCH real-time market data solution set integrated with Hotspot FXi.
Small US banks free to use standardised approach
WASHINGTON, DC - The Federal Reserve has announced it will permit smaller US financial institutions to implement the standardised approach for Basel II compliance, acknowledging misgivings raised by banks over previous proposals.
CFTC moves to close 'London loophole'
LONDON - The Commodity Futures Trading Commission (CFTC) has moved to impose US position limits and hedge exemption requirements on US customers trading West Texas Intermediate (WTI) crude oil on London-based ICE Futures Europe.
Icap breaks into retail forex market
LONDON - Icap is breaking into the lucrative retail foreign exchange market by teaming up with London-based retail equity and FX trading sister company City Index, senior officials tell FX Week .
ABN upbeat on US dollar
FRANKFURT - ABN Amro has launched two capital-protected notes in Germany designed to provide exposure to the appreciation of the US dollar against the euro. The notes are targeted at investors anticipating a move towards a sustainable US base interest…
India to allow exchange-traded FX futures
MUMBAI - Indian regulators have recommended the introduction of exchange-traded currency futures to further develop the India's foreign exchange markets.
Lloyds TSB expands in derivatives
LONDON - Lloyds TSB Corporate Markets is continuing to expand its global derivatives business, with two key hires for its foreign exchange derivatives trading team.
Gold producer hedging drops to record lows
LONDON - Gold hedging plunged by another 18% in the first quarter of 2008, shrinking the global delta-adjusted hedge positions to 22 million troy ounces (Moz).
Hotspot FX set to launch gold and silver spot trading
JERSEY CITY, NJ - Hotspot FXi is launching trading in spot gold and silver on the electronic communications network (ECN) on June 10.
Reuters’ RTFX offers algo strategies
LONDON – Thomson Reuters is teaming up with Credit Suisse to introduce algorithmic trading strategies on the Reuters Trading for Foreign Exchange (RTFX) product next month.
Death by association
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…
New roadmap standardises messaging
GLOBAL - A group of financial market messaging organisations released details of an investment roadmap designed to standardise messaging use across the industry earlier this month.
TD in Asia hub shake-up
SINGAPORE, SYDNEY & TORONTO - Toronto Dominion Securities has relocated its Asia foreign exchange and rates trading hub from Sydney to Singapore, in a move to boost its coverage of the emerging markets.
Quick rolls out new Icap data
TOKYO - Japanese financial information vendor Quick, the country's dominant domestic provider, is adding a suite of new currency datasets and services from interdealer broker Icap to its products.
RBI releases details of rupee futures plans
MUMBAI - The Reserve Bank of India (RBI) has recommended a single dollar-rupee contract of $1,000 for the introduction of exchange-traded futures into the country.
Hotspot FXi launches data service
JERSEY CITY, NJ & LONDON - Hotspot FXi is the latest platform to take advantage of the demand for foreign exchange market data from model-based and algorithmic trading shops, selling market data from its historical archive.
Tullett signs data feed deal in China
LONDON & SHANGHAI - Tullett Prebon Information (TPI) has signed an agreement to provide foreign exchange, interest rate, fixed income and money data to Chinese financial data provider Wind Info.
Saxo launches Webtrader
COPENHAGEN - Saxo Bank plans to introduce version 2.0 of its web-based platform, Saxo WebTrader, at the end of the second quarter.
4th Story releases algo trading tool
SAN FRANCISCO - Technology vendor 4th Story last week (April 14) officially launched automated trading software 4S.Blue Ridge.