Post-trade
Russia selects Trema
MOSCOW – The Central Bank of Russia is implementing treasury management software from vendor Trema to support its reserve management operations.
There are no options benchmarks
The following is a case study of option volumes with delayed delivery, by Nasir Afaf, global head FX options, Commerzbank Corporates & Markets in London
Fund launch from Russell
DUBLIN – Russell Investment Group has launched a multi-manager currency fund to offer investors a way of diversifying their portfolios.
Defrosting the myths
The risk of an Icelandic crisis and its impact on other high-yielding currencies has been strongly exaggerated, says Beat Siegenthaler, senior strategist at TD Securities in London
Reuters to calculate official spot rate
HONG KONG – Reuters is to be the official exclusive calculator and distributor of the benchmark spot US dollar/Hong Kong dollar fixing rate. This new official spot USD/HKD fixing is owned and administrated by Treasury Markets Association (TMA) in Hong…
Second NAB trader jailed
MELBOURNE – Gianni Gray, former currency options trader at National Australia Bank (NAB), has been sentenced to 16 months imprisonment for his part in the bank's rogue trading scandal discovered in 2004.
DZ deploys Cognotec's AutoDeal+
LONDON & FRANKFURT – Germany's DZ Bank has gone live with vendor Cognotec's AutoDeal+ solution for its new automated online FX trading service.
Marex Financial taps Hotspot FX
LONDON & WATCHUNG, NJ – Independent brokerage, Marex Financial, has signed its fourth deal with an FX platform in recent weeks.
FNX boosts back-office module
PHILADELPHIA – Vendor FNX Solutions has upgraded its back-office module for FX and other asset classes.
Trading FX implied volatility
How frequently does one need to hedge to effectively trade implied volatility? Duncan Farnsworth , head of risk analytics in the currency structuring group at the Royal Bank of Scotland in London, offers a solution
The winners take it all?
In the past few years, it has become clear that the winners in FX are those that were first to commit to the right IT investment.
Logicscope ties up with TwoFour Systems
NEW YORK – Vendor TwoFour Systems has become the latest participant in the Logicscope Vendor Partner Program.
Gain expands US retail FX presence
BEDMINSTER, NEW JERSEY – Gain Capital, the non-bank provider of forex trading and asset management services, has opened an office in New York City.
Is risk adequately priced?
An end to carry plays on high-yield emerging currencies would create volatility in FX markets and potential flight to safe-haven assets. Sharada Selvanathan , currency strategist at BNP Paribas in Singapore, suggests a basket to benefit from this
Dresdner launches FX prime brokerage
LONDON - Dresdner Kleinwort Wasserstein (DrKW) last week launched a foreign exchange prime brokerage (FXPB) business, completing its cross-asset class product PB offering.
Currenex platform for Marex
LONDON - Marex Financial, a Refco spin-off, began offering Currenex's white label FX platform, FXtrades to clients last week.
SunGard expands Asia-Pacific operations
TOKYO - Software vendor SunGard is expanding its operations in the Asia- Pacific region in 2006. It will provide solutions for trading, treasury and risk management, benefit administration and insurance. Other services include institutional asset…
Reuters expands in China
EIJING - Reuters is significantly increasing its presence in China, signing five banks to its Dealing 3000 matching service and selling its Kondor risk management product suite to six.
Traiana goes live with forex options
NEW YORK - Software vendor Traiana went live with its foreign exchange options service on its Harmony Message Center (HMC) this month.
Refco saga continues
NEW YORK – The Refco saga continued last week, with creditors vetoing a deal that would have seen the remains of the unregulated business sold to Forex Capital Management.
Bloomberg to create e-trading company
NEW YORK – Bloomberg is partnering with several major banks to launch an electronic swaps trading company, according to the data vendor.
Saxo makes retail move
COPENHAGEN – Saxo Bank is making significant changes to its structure, as it seeks to boost its retail business with senior hires from the Danish business world.
UOB selects WSS for Thai branch
NEW YORK & BANGKOK – Singapore-based United Overseas Bank (UOB) has selected vendor Wall Street Systems' (WSS) full FX front- to back-office processing for its newly formed Thai branch UOB (Thai).