New York-based interdealer broker GFI Group last week completed the launch of its FX options trading platform, joining a handful of entities rolling out such platforms. Will banks provide liquidity to the new ventures? Farah Khalique reports
Iosco members fail to agree on whether organised trading platforms for derivatives should source liquidity from multiple institutions.
Citi has become the second bank to provide foreign exchange prime brokerage (PB) services and options liquidity to brokers that use the FX Bridge Pro Trader Plus platform to offer FX spot and options trading to their clients.
London-based forex technology vendor Digital Vega will attempt to benefit from new regulations by applying to become a swap execution facility (Sef), the firm has told FX Week.
Loic Meinnel has joined State Street Bank and Trust Company in the new position of senior managing director, head of global markets foreign exchange options for Europe, the Middle East and Africa.
Conference speakers discuss the investment needed to meet requirements for central clearing of FX options.
Roger García Bertrand, former head of Iberian flow rates and FX sales at Société Générale (SG), moved to Japanese bank Nomura in January to head Iberian flow rates sales.
Client push for more transparency in pricing methodology drives vendor to add new models and publish secret source code.
A Citigroup foreign exchange survey revealed that, as a result of the financial crisis, many companies have adjusted their mix of counterparties, increased their use of options relative to forwards and changed their approach to credit risk management.
South Korean financial regulator has issued an institutional warning to Barclays and a caution to an individual at JP Morgan for breaking local banking rules by selling inappropriate currency derivatives that are used in exporter hedging programmes
Bank of America Merrill Lynch (BAML) launched electronic FX options trading for institutional and corporate clients on its single dealer platform MLFX on Monday (December 13).
Ben Nicklin, FX structurer at Royal Bank of Scotland in London, looks at the rise of option-owning corporate hedging strategies
Retail aggregator FXCM is joining forces with derivatives pricing technology vendor SuperDerivatives to launch an FX options trading platform by March next year.
SuperDerivatives is capitalising on increased risk appetite for exotic options with the launch of new correlation products on its multi-asset pricing system, SDX, in the first quarter of 2011.
LONDON - Digital Vega has become one of the first vendors to fill a gap in the market for a multi-bank forex options trading platform, with the launch of Medusa last week.
Read this week's Trading Places to catch up on people moves across the FX world.
A second flash crash is inevitable while there is no consistency in the rules at exchanges, said delegates at the FX Week Europe congress in London last Tuesday (November 16).
Tullett Prebon has eclipsed the competition in the best broker category, coming first in currency options, emerging markets and forwards FX.
BGC Partners reported a 24% rise in brokerage revenues from foreign exchange to $44.4 million in the third quarter versus the same period last year, it announced last week.
HONG KONG & DUBAI – HSBC and Standard Chartered announced a number of firsts last week, as they try to take a lead role in the growth of the offshore renminbi market.
LONDON & CHICAGO - Electronic brokers reported a year-on-year rise in trading volumes in September, reflecting a renewed appetite for risk.
HONG KONG - HSBC plans to extend FX prime services to the Asian markets as it looks to take advantage of rising demand for prime brokerage in the region.
LONDON - SuperDerivatives is migrating customers to its new multi-asset front-office system, SDX, on October 10, David Gershon, chief operating officer at SuperDerivatives in London has told FX Week.
GFI Group aims to transform the electronic FX options business by automating the entire workflow process of pricing, risk management, bilateral trading, structuring and sales, through version 12.1 of Fenics Professional.