Trading
Enforce clearing, catapult FX into the big league, say FX Week USA panellists
NEW YORK - Counterparty risk is preventing FX from becoming a major asset class and must be addressed, according to panellists discussing the future of the FX industry at the FX Week USA congress in New York last Tuesday (July 13).
Power to the high-frequency traders
Speakers at the FX Week USA congress held in New York last Tuesday (July 13) were resoundingly supportive of the role high-frequency traders (HFT) have had in ensuring liquidity in the market.
Hervé Ferhani: EM countries in capital controls dilemma
NEW YORK - Emerging market (EM) countries that enforce capital controls will trigger a domino effect across neighbouring countries, according to Hervé Jacques Ferhani, deputy director of monetary and capital markets at the International Monetary Fund in…
ParkerFX makes small gain in May
STAMFORD, CT - The Parker FX Index has reported a return of 0.14% for May, as currency markets were marked by risk aversion amid fears of a double-dip recession, increased risk contagion from the European sovereign debt crisis and significant declines in…
StreamBase Partners with MarketFactory
NEW YORK - StreamBase has partnered with algorithmic FX trading applications vendor MarketFactory to enable hedge funds, banks and proprietary trading firms to speed their ‘time to first trade’ in the spot foreign exchange market.
Spot activity levels up year-on-year in June
LONDON - Electronic brokers reported a marginal rise in trading activity in June versus the same period last year.
GFT: US dollar set for a fall
GFT topped the one-month currency forecast rankings this week with expectations for the European debt crisis to supersede US fiscal shortcomings as a driver of US dollar moves.
BarCap loses two in vanilla options
LONDON – Barclays Capital (BarCap) has lost two from its vanilla options team in London, the UK bank confirmed.
Capital controls look likely in EM economies
The financial crisis causes a rethink of free capital flows and their impact on emerging market nations
BIS highlights risks of resurgent carry trade
Rate differentials make carry trades attractive, but this could cause trouble
In Brief, July 5, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Asia lukewarm to renminbi despite dollar-depeg
Importers and exporters that trade with onshore Chinese companies are having second thoughts about using the renminbi to settle their trades in place of the US dollar.
Morgan Stanley looks to extend Matrix
LONDON - Morgan Stanley is set to launch streaming Asian and Latin American non-deliverable forwards (NDFs) next month, on its cross-asset front end, Matrix, following its recent global launch.
BNP Paribas boosts Asia electronic trading capability
TOKYO - BNP Paribas plans to launch electronic trading in won and Taiwan dollar non-deliverable forwards (NDFs) on its single-bank system, FX eTrader, this year, according to a senior official in Tokyo.
SGX signs 14 banks for derivatives clearing
SINGAPORE - The Singapore Exchange (SGX-DC) has signed up 14 banks and three financial institutions for its Asian forex forwards and interest rates swaps clearing initiative, due for launch in the fourth quarter.
StanChart kick-starts Brazil push
SAO PAOLO - Standard Chartered (StanChart) has established a rates and FX trading desk in Sao Paolo, after receiving regulatory approval to launch trading operations in Brazil in April.
Standard Chartered: EM currencies will come out top in 2011
Standard Chartered topped the one-month currency forecast rankings on expectations for further euro hardship.
Canadian banks post lukewarm Q2 forex results
TORONTO - Canadian dealers reported a mixed bag of second-quarter results ending April 30.
Thomson Reuters Spot Matching launches new Arab currencies
DUBAI – Thomson Reuters launched three new Gulf Co-operation Council (GCC) currencies in April on its Spot Matching system, in response to customer demand.
Aspen wins with technical analysis in murky conditions
Aspen Trading topped the one-month currency forecast index for the first time ever with a sole focus on technical analysis.
In Brief, May 31, 2010
Read this week's In Brief to catch up on the latest FX technology news.
Out of crisis comes opportunity?
The past few weeks of rampant volatility have no doubt put the technology of a number dealers to the test. particularly interesting though are the strategic rumours circulating about an unlikely dealer.
Hotspot extends reach
JERSEY CITY, NJ - Agency broker and market-maker Knight Capital Group has connected foreign exchange and fixed-income trading platforms - HotSpot FX and BondPoint, respectively - to the Secure Financial Transaction Infrastructure (SFTI) network from NYSE…
Non-banks drive up Hotspot volumes
JERSEY CITY, NJ - HotspotFX reported a 107.9% rise in average daily volumes to $35.2 billion - double count - in April, versus $16.9 billion last year.