Structured products
BNP Paribas multi-asset trading system to go live this year
LONDON – BNP Paribas plans to go live with a new multi-asset trading system in the third quarter of this year, marking the move of another bank away from silo-based trading and sales.
Progress adds algorithmic functionality to Apama
BEDFORD, MASSACHUSETTS – Software vendor Progress Software is today (June 18) launching an FX package that allows FX traders to run algorithms across multiple liquidity sources, accessing best price and market depth.
Maybank launch targets retail clients
KUALA LUMPUR – Malaysian bank Maybank last week launched G10FX CG, currency-linked investment products aimed at retail clients.
Algorithmic trading:the race for better value
The rocketing popularity of algo trading is examined byMark Akass, chief technology officer of BT Global Financial Services
Survey reveals forex risk as a major concern
EDINBURGH – The majority of corporate treasurers view FX risk as their biggest concern, according to a survey released earlier this month.
GCC currency uncertain after Kuwait abandons dollar peg
SAFAT, KUWAIT – The decision to abandon the Kuwaiti dinar’s peg to the US dollar in favour of a basket of major currencies has brought into question plans to introduce a single currency for the six Gulf Cooperation Council (GCC) states.
EBS puts key stations in front of buy side
LONDON – Interdealer broker Icap is to begin piloting an extension to EBS Prime, to enable manual keyboard access to the EBS platform for the buy side in coming weeks.
Forex traders face greater pressure from e-trading
LONDON – The surge in electronic trading and advances in derivatives structuring is putting greater demands on FX traders, say market participants.
BNP hires in structuring
LONDON – BNP Paribas has created four fixed-income structurer roles in London as part of a drive to build this area of the bank's business.
Fenics FX adds emerging markets and exotics support
NEW YORK – Interdealer broker GFI is releasing version 10.5 of its options pricing software Fenics FX with added support for emerging markets and exotic options.
Barclays launches FX-linked ETNs
NEW YORK – Barclays Bank launched three exchange traded notes (ETN) linked to the movement of the euro, sterling and yen relative to the dollar on the New York Stock Exchange last Wednesday (May 9).
Saxo continues Asia expansion in Singapore
SINGAPORE – Saxo Capital Markets, the Asian subsidiary of Saxo Bank, is continuing to expand its footprint in the Asia-Pacific region, with two key appointments in Singapore.
HKMA chief calls for greater integration of the renminbi
TOKYO – Hong Kong should prepare for greater integration of the renminbi into its financial infrastructure, said Joseph Yam, chief executive of the Hong Kong Monetary Authority (HKMA).
Does one platform really fit all?
Do clients even want to trade multiple asset classes from a single platform? That's an interesting question.
Merrill Lynch launches first rated CFXO
LONDON – Merrill Lynch has launched the first full rated and managed collateralised foreign exchange obligation. The product is being managed by Crédit Agricole Asset Management, and rated by Standard & Poor's.
Hotspot and Traiana warm up to Netlink
JERSEY CITY, NJ – Electronic communications network Hotspot FX is teaming up with FX post-trade technology vendor Traiana, to roll out NetLink over its institutional platform.
Cantor Fitzgerald rejects rival bid for eSpeed
LONDON – A takeover bid for electronic trading network eSpeed was rejected by majority owner Cantor Fitzgerald last week.
When volatile waters grow calmer
How should one prepare for a return to more normal levels of volatility? Neil Mellor , currency strategist at The Bank of New York in London, evaluates expectations for record lows.
Commodities to become a core asset class, FSA predicts
LONDON – The UK Financial Services Authority (FSA) predicts commodities will become a core asset class for all diversified portfolios.
CFTC charges unregulated futures brokers
WASHINGTON DC – The US futures regulator is continuing to battle FX fraud in the country, with charges hitting unregulated FX futures brokers and online retail trading platforms.
Bank of America joins index bandwagon
NEW YORK – Bank of America (BoA) has launched 73 indexes that track the performance of 30 developed and emerging market currencies against the US dollar.
Voting for e-FX Awards is underway
The starting pistol for this year's e-FX Awards has been fired, with companies invited to submit their pitches in the 13 categories.
The need for speed in algorithmic trading
LONDON – By 2017, the 10 top banks will manage 80% of all capital markets by revenue, according to Ralph Silva, senior analyst from Tower Group.
Banks gear up to fight online traders
Last week provided some interesting insight into the insecurities some banks are suffering from vis-à-vis online trading companies.