Post-trade
FXall sees strong take-up on MM platform
LONDON – More than 65 institutions have participated on the FXall money markets platform since it was launched in June, the platform said last week.
New Xinhua rules intercept foreign news
BEIJING – Xinhua News Agency, the Chinese government-controlled information service, has issued new rules designed to stop foreign competitors from working directly with their customers in China.
Sammann resurfaces at CME
CHICAGO – Derek Sammann, former managing director and global head of FX options and structured products at Calyon, has resurfaced at the Chicago Mercantile Exchange (CME).
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
Hedging sterling/dollar is best option
Despite GBP/USD rising over 10% so far this year, Ian Stannard, senior currency strategist at BNP Paribas in London, says hedging still makes sense
Fimat enhances risk management
WHITE PLAINS, NY – Fimat Group, a division of French bank Société Générale, has enhanced its real-time currency risk management offering in conjunction with technology vendor TwoFour Systems.
StanChart extends use of FinIQ structured deposit system
GLOBAL – Standard Chartered (StanChart) is rolling out a structured deposit pricing and processing system for its currency-linked investments businesses globally.
Currenex adds precious metals
NEW YORK – Currenex is expanding its footprint into precious metals with the addition of gold and silver trading.
Management changes at top banks
GLOBAL – It has been a week of senior management movement at two top banks, with Deutsche and Standard Chartered seeing changes to their line-ups.
Penson enhances FX offering
MONTREAL – Trading platform Penson FX has enhanced its capabilities to introduce auto-dealing and allow access via FIX.
Bond and cyclical trades best for currencies
LONDON – Bond spread and cyclical divergence trades should make up a greater share of currency portfolio risk in coming months, according to research from JP Morgan.
Automating FX – algorithmic trading in foreign exchange
Interest in algorithmic trading in FX is growing. John Bates, vice-president, Apama Products, Progress Software, discusses the advantages, and analyses the latest market innovations
Trading in the firing line holds back banks
The prospect of facing a firing squad for losing some of the bank’s money would certainly concentrate the minds of the more adventurous prop traders.
FXpress enhances web treasury product
BALA CYNWYD, PENNSYLVANIA – FXpress Corporation, the treasury solutions provider, has released First S6, the latest version of its web-based treasury software for corporations worldwide.
Wall Street Systems buys Trema with private backing
NEW YORK & LONDON – Technology vendor Wall Street Systems (WSS) last week purchased Trema, another major player in treasury, FX and back-office systems, in a deal believed to be worth up to $150 million.
China hits the right note on free currency
The Chinese authorities are famous for being fiercely independent and reluctant to bend to external pressure. Understandably, they do not like being told how to manage their affairs by outsiders who have their own interests at heart.
UBS move to Zurich starts this week
ZURICH & LONDON – UBS starts moving its trading operation to Zurich this week in a process that will continue through to August ( FX Week , May 1).
Saxo to open in Spain
MARBELLA – Danish firm Saxo Bank has continued its global expansion in 2006 with the opening of a representative office in Marbella, Spain.
China approves cross-currency master agreements
BEIJING & HONG KONG – A master agreement for renminbi cross-currency forwards and swaps drawn up by China's foreign exchange regulator was approved by the State Administration of Foreign Exchange earlier this month.
Middle East violence boosts US dollar
Conflict in the Middle East contributed to a surge in the dollar and a big drop in the value of Asian currencies last week.
FXall sells $77.5 million stake to TCV FXall
NEW YORK – FXall has confirmed plans to sell a minority stake worth $77.5 million to private equity firm Technology Crossover Ventures (TCV).
FXall sells $77.5 million stake to TCV FXall
NEW YORK – FXall has confirmed plans to sell a minority stake worth $77.5 million to private equity firm Technology Crossover Ventures (TCV).