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HSBC, Joseph De Feo, Merril, Nixon, Citi, Bear Sterns, Credit Suisse, Calyon, RZB, WestLB, ANZ, CMC
BIS review reveals slowing growth in OTC derivatives
BASEL – Growth in over-the-counter FX derivatives slowed in the second half of 2006, rising only 5% versus 21% in the first half of the year, according to research released last week.
To net or not to net? That's CLS's question
He who shouts loudest will be heard? If the old adage is true, then settlement platform CLS should be moving into netting.
Market nonchalant about FXMS data
CHICAGO – Market participants largely shrugged off volume data released by Reuters/Chicago Mercantile Exchange (CME) joint venture platform FXMarketSpace last week, claiming it is too early to judge the success of the platform.
Feeling the strain of high-volume trading
The decision to roll out netting services by electronic communications network Hotspot FXi demonstrates initiative on the platform's part.
How Mifid affects the global FX market
Mifid will create an even more efficient market for FX services that can be delivered quickly, inexpensively and globally, says Chris Pickles , chair of its Joint Working Group in London
Extending forex market reach
There is great scope for further integration between FX and interest rate swap markets, says Philip Whitehurst of independent developer MID Analytics in London
CME widens footprint and connectivity
CHICAGO – The Chicago Mercantile Exchange (CME) has outlined plans to broaden its global FX footprint and improve international connectivity.
Italy's Banca Akros adopts Corona CLS
MILAN – Banca Akros, the investment-banking arm of Italy's Banca Popolare di Milano group, has implemented SmartStream Technologies' Corona CLS to manage its confirmation matching process.
CLS mulls netting option
NEW YORK - CLS is reviewing the possibility of launching a netting service, as the settlement platform looks to adapt to the changing landscape.
Mifid – a commercial opportunity
The commercial opportunities Mifid presents to the foreign exchange dealer are examined by Chris Pickles, chair of the directive's Joint Working Group in London
Celent consulting report hails the exchange model
PARIS – The exchange model is set to be the future model for FX, according to a report released last week.
CME, Reuters finalise FXMarketSpace
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters are making final preparations for the launch of their joint-venture platform, FXMarketSpace.
The importance of best execution
The biggest piece of news to come out of last week is the sale of Currenex to State Street for $564 million.
Mifid explained – an introduction
Chris Pickles, chair of the Mifid Joint Working Group in London, discusses the implications of the directive on foreign exchange
October 2006 - Bank of China broadens CLS horizons
HONG KONG & BEIJING – Bank of China (BoC) became a shareholder in CLS Group, as the world's largest emerging economy took another step towards integration into global capital markets.
EBS moves into netting
LONDON – EBS is to establish a netting service to enable prime customers to net trades with their banks, as the spot broker looks to adapt to the changing landscape.
CLS moves into OTC derivatives
NEW YORK – Settlement system CLS has begun working with the Depository Trust & Clearing Corporation (DTCC) to provide central settlement of payments for over-the-counter (OTC) derivatives.
Quick, look busy! Here comes Mifid
Chip Lowry , senior managing director of State Street Global Link in Europe, looks at what Mifid will mean for the foreign exchange industry
ASIA PACIFIC NEWS: ABN Amro pays $4.5m settlement in Vietnam forex trading case
HANOI – Dutch bank ABN Amro has paid $4.5 million to police to settle a dispute over allegations by the Vietnamese government that its traders broke FX trading regulations.
NFA expels Spencer Financial
NEW YORK – The National Futures Association (NFA) has expelled forex dealer member Spencer Financial from NFA membership following its failure to implement an adequate anti-money laundering regime.
Malaysia sets up payment-versus-payment system
HONG KONG & KUALA LUMPUR – The Hong Kong Monetary Authority and Malaysia's central bank (Bank Negara Malaysia) launched a cross-border payment-versus-payment (PvP) settlement system last week.