Post-trade
IFX opens down under
SYDNEY - Brokerage company IFX Group has opened a new branch office in Sydney after being granted a licence by the Australian Securities and Investments Commission to provide derivatives products. These are mainly contracts for difference and FX.
Shortlist for e-FX awards available online
The shortlist for the FX Week e-FX awards has been decided. The awards, which celebrate best practice and innovation in e-FX, have been redesigned to make them more suited to the current e-FX landscape and have been given a more rigorous judging process.
Philips Electronics trades 98% of FX electronically
MONTE CARLO – The e-FX market received a strong endorsement last week, with Philips Electronics revealing that nearly all its FX is transacted electronically.
FNX signs Penson Canada
PHILADELPHIA - Securities outsourcing firm Penson Canada has selected technology provider FNX Solutions' Sierra ASP product to support its FX trading and back-office operations in Canada and the US.
Structured note digital payout versus participation factor
Neil Bardsley , vice-president and FX options correlation trader at Bank of America, studies the use of an at-the-money spot basket option versus a digital payout in a structured note
Bocom selects Misys Opics
China's state-owned Bank of Communications (Bocom) has selected Misys Banking Systems' Misys Opics solution to enhance its back-office treasury processing.
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.
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