Trading
Multi-bank options platforms: the vision versus the reality
New platforms offering multi-bank FX options trading are finding it tough to manage the manual pricing processes of banks and the complex close-out arrangements inherent in options. Farah Khalique reports
BNP Paribas goes mobile with e-commerce platform
French bank invests in electronic and social media strategy
Traiana rolls out forex clearing connectivity service
Citi and CME Clearing become the first to join the network as the market prepares for the advent of FX clearing
Icap mulls bank-only alternative to Pure FX
Discussions progress about new functionality on Icap's platform that could eliminate the threat of Pure FX
Pure FX: Market or mirage?
Pure FX has been the subject of plenty of speculation since it was first mooted last year, but there is still little clarity over whether the project will come to fruition. Some banks and trading platforms say there is no need for the venture
SGX to clear FX forwards despite possible Treasury exemption
SGX to add new currencies and asset classes, including FX forwards, to OTC clearing service
Alpari launches FX options platform
Platform launched on March 9 to execute vanilla options trading strategies
Thomson Reuters Matching hit by four-hour outage
Banks and competitors react to the lengthy blackout on the FX trading platform on March 9.
Icap decimalised pricing off to steady start
Interdealer broker Icap moved smoothly to decimalised pricing on major currency pairs on March 7, with almost half of all transactions in the first two days executed using decimals, according to the broker.
Thomson Reuters Matching hit by four-hour outage
Banks say liquidity was affected by the service outage but it was fortunate to occur at a quiet time for the market
Spot fixes tie-up will benefit the market, say Icap and Thomson Reuters
Interdealer broker Icap and Thomson Reuters are now delivering benchmark spot foreign exchange fixes for six major currency pairs, a development both companies say will improve pricing for FX market participants.
Algo trading could benefit from Sef rules, say participants
Algorithmic trading has gained traction in the FX markets in recent years and some providers say their platforms might comply with the criteria for swap execution facilities in the US. Could they face a growth opportunity when the regulations come into…
Pricing and relationships still key, says Axa’s FX head
Competitive pricing and a strong relationship remain key to the buy side’s choice of trading counterparty, according to Lee Sanders, head of foreign exchange and fixed-income execution at Axa Investment Managers in London.
Deutsche Bank takes offshore renminbi electronic on Autobahn
Deutsche Bank claims to be the first major dealer to offer offshore renminbi on an electronic trading platform
CLS considers membership category for CCPs
Foreign exchange central settlement provider CLS Bank is considering the creation of a new membership category for central counterparties (CCPs) developing clearing services for FX derivatives, the firm has told FX Week.
Malfunctioning algos could cause another flash crash, academic warns
Robotic foreign exchange trading systems could malfunction and lead to a repeat of the May 6 flash crash in the US, according to David Cliff, professor of computer science at the University of Bristol.
Spotlight on: Lee Sanders, Axa Investment Managers
Axa Investment Managers’ head of FX and fixed-income execution talks to Joel Clark about the firm’s increasing FX activities and the changing nature of the market
Crédit Agricole to launch two-year forwards by Q2
Crédit Agricole Corporate & Investment Banking will launch two-year outright forwards on its Jetstream platform by the end of March, according to Vincent Leclercq, global head of foreign exchange and commodities at the bank in London.
FX platforms ponder implications of Sef rules
Market participants might need to wait until July before the full implications of swap execution facilities on FX trading platforms are fully known.
Banks raise concerns over liquidity in new FX options ventures
New York-based interdealer broker GFI Group last week completed the launch of its FX options trading platform, joining a handful of entities rolling out such platforms. Will banks provide liquidity to the new ventures? Farah Khalique reports
Citi to provide PB services to brokers on FX Bridge options platform
Citi has become the second bank to provide foreign exchange prime brokerage (PB) services and options liquidity to brokers that use the FX Bridge Pro Trader Plus platform to offer FX spot and options trading to their clients.
Digital Vega plans Sef licence to boost options platform
London-based forex technology vendor Digital Vega will attempt to benefit from new regulations by applying to become a swap execution facility (Sef), the firm has told FX Week.
Changing role of the FX salesperson sparks debate at Afme conference
The sell-side foreign exchange salesperson has a changing role to play in the industry as a result of an increase in high-frequency trading and the advent of new regulations, according to panellists at the European Market Liquidity conference in London…
Spotlight on: David Rutter, Icap
Icap's head of electronic broking talks to FX Week about the evolution of the EBS spot platform, and plans for 2011.