Post-trade
Harmony breaks $50 billion barrier
NEW YORK – Technology vendor Traiana has announced that its Harmony service exceeded $50 billion in volume in a single day on May 17. It also recorded its one-millionth FX give-up since its launch two years ago. The industry standard for FX give-ups…
Icap to launch multi-asset class trading
LONDON – Icap is set to offer multi-asset class trading following the acquisition of EBS, with Jack Jeffery taking a central role at the restructured business.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
Reuters adds four banks to RTFX platform
LONDON – Deutsche Bank, Dexia, HSBC and Société Générale (SG) have joined Reuters' bank-to-client platform Reuters Trading for Foreign Exchange (RTFX).
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
Post-trade is the key to success
Howard Tolman, director of sales at technology vendor Logicscope, points to the recent e-trading survey from BarCap as evidence that post-trade service is more important than pre-trade functionality in winning and keeping clients
EBS hits daily volume record
LONDON – EBS hit another daily volume record last week, amid volatile market conditions.
TraderTools goes with the flow
NEW YORK – Financial systems integrator Worldflow and vendor TraderTools have formed a strategic alliance whereby the former extends implementation and support capabilities of TraderTools' e-FX platform across Europe.
A simple strangle for EUR/GBP vol
Currency managers can insure against unexpected moves in the EUR/GBP using a simple low-cost method, says Neil Mellor, currency strategist at the Bank of New York in London
Saxo to open in Singapore
COPENHAGEN & SINGAPORE – Saxo Bank is opening an office in Singapore to serve its growing client base in the region.
Misys enhances treasury platform
LONDON – Software vendor Misys has updated its treasury platform to improve the rate of matching instructions on FX deals.
Another new high for EBS
NEW YORK – EBS recorded another record day on May 11 as market news led to a huge spike in trade.
Diversifying through Africa
African basket options are a good vehicle for picking up yield and diversifying away risk, says Marios Maratheftis , FX strategist at Standard Charterd Bank in London
Downward turn for Parker FX index in March
STAMFORD, CT – The Parker FX index was down 1.27% in March, with currency markets highlighted by a strong euro, a mixed US dollar and a weakening yen.
BNY signs Fundtech deal for corporates
NEW YORK – The Bank of New York (BNY) and vendor Fundtech have signed a deal enabling mid-sized banks to easily and affordably provide FX services to corporate clients.
RBC creates dual senior role
TORONTO & LONDON – Canadian bank RBC Capital Markets, has restructured its FX operations, implementing a new management hierarchy to reflect a more global focus.
Differentiate to accumulate
Banks are taking a variety of approaches to make money in a high-volume, low-margin environment, says Giulio Pignatti-Morano, FX & MM solutions manager at Calypso in San Francisco
Interbank market is the one to watch
The move by Lava to get into the interdealer broker space is a bold one that could pay handsome dividends for the Citigroup-owned business.
Lava moves into interbank FX space
NEW YORK – Citigroup subsidiary, Lava Trading has confirmed plans to launch a new interbank forex trading system this year. The move makes it the first of a number of platforms rumoured to be taking the plunge into the space.
A changing interbank landscape
The decision by the world's largest interdealer broker, Icap, to acquire spot FX broker EBS bears significant implications for the current landscape of the FX industry.
Strong Q1 forex results from US banks
NEW YORK – US banks continued the trend of strong first quarter results already reported, with sharp rises in foreign exchange-related profits.
State Street to provide forex workflow solution for MLIM
LONDON – State Street is providing a foreign exchange execution management workflow solution through its Global Link network for Merrill Lynch Investment Managers (MLIM) in London.
FXall sees increase in volumes
NEW YORK – Trading platform FXall announced record trading volumes of $825 billion in March, a 53% increase on the same period last year.
Union Bank of India to use Reuters FX portal
MUMBAI – Union Bank of India (UBI) has selected Reuters, the global information company, to implement an online FX trading portal.