Trading
Apama users given more algo options
Trading technology vendor Progress Software has integrated the Progress Apama algorithmic trading platform into electonic communications network Accelor.
SWFs more likely than central banks to diversify FX assets
LONDON - Sovereign wealth funds are much more aggressive in diversifying foreign exchange assets than central banks, says Mansoor Mohi-uddin, the managing director of FX stategy at UBS.
UBS makes more changes to FICC team
ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.
More forex departures at Bank of America
YORK - Further changes at Bank of America's foreign exchange business have emerged as the US dealer realigns FX with its rates business.
Electronic FX volumes expected to reach 80% by 2010
NEW YORK - Electronic foreign exchange trading will account for 80% of the overall FX market by 2010, according to research released last week.
FX Solutions presents Web Trader platform
NEW YORK - New York-based retail trading company FX Solutions has begun demonstrating a browser-based version of online trading front-end GTS Pro.
SuperD adds inflation products to platform
NEW YORK - Derivatives data and pricing software vendor SuperDerivatives is adding support for inflation-linked securities and derivatives to its SD-IR interest rate derivatives pricing module, in response to client demand for data to hedge inflation…
UBS reign over, Citi back on top
LONDON - Citi has usurped UBS to take top spot in this year's FX Week Best Bank Awards, ending a four-year winning streak for its Swiss rival.
Time for a new market structure
The irony of the FX markets is that calls for post-trade efficiencies today are rooted in the overall efficiencies seen to date. But the fact is that the market is reaching a critical turning point.
Deutsche shakes up north American FX
NEW YORK - Deutsche Bank has realigned its foreign exchange sales business in north America, with a new head of FX sales for the region, based in New York.
Japan's 120 forex brokers under investigation
TOKYO - Japan's Financial Services Agency (FSA) is investigating the country's 120 licensed retail forex brokers, after local online broker FX Sapporo filed for bankruptcy last month.
CBA's faith in Australian dollar rewarded
The Commonwealth Bank of Australia (CBA) has topped FX Week 's one-month currency forecast rankings by holding fast to a bullish AUD view.
Central banks: the gorillas of FX
Chris Turner, head of FX strategy research at ING wholesale banking in London, evaluates the possibility of FX sterilisation by central banks next year
UniCredit expands FICC
NEW YORK - UniCredit has hired a new head of fixed income, currencies and commodities (FICC) for the Americas, as part of a push to expand its global foreign exchange franchise.
FXMarketSpace trading slow in October
CHICAGO - Trading on FXMarketSpace continued to decline in October, with average daily volumes dropping 16% to $696 million, according to figures released by the platform last week.
Persistence pays off for BNP Paribas
BNP Paribas has topped the one-month forecast rankings by predicting a weak USD when other market participants were expecting a corrective rebound.
G-10 carry trades survive the crunch
Perhaps the biggest conviction Lehman held during this summer’s credit market shock was that the unfolding events would drastically alter the foreign exchange market. Most notably, we thought the carry-centric world that had dominated in recent years…
European dealers post record FX results
ZURICH & FRANKFURT – Losses linked to the credit crisis have overshadowed what has been a bumper third quarter for foreign exchange dealers, according to results released last week.
BoA swings the axe
NEW YORK – Bank of America has taken a hatchet to its three-month-old global rates, currencies and commodities (GRCC) business, with senior level departures and desk closures last week.
Citi hires two new heads for Asia-Pacific FICC
HONG KONG & SINGAPORE – Citi has hired Rodrigo Zorrilla and Aamir Rahim to co-head its Asia-Pacific fixed income, currencies and commodities (FICC) business, following the departure of Jeremy Amias this summer.
Saxo and JDFX offer risk management online
COPENHAGEN & ZURICH – Saxo Bank and Zurich-based foreign exchange trading company JDFX are today releasing Meta RMS, a risk management software package within JDFX’s online trading front end, MetaTrader.
GFI expands FX options trading
NEW YORK – Interdealer broker GFI Group plans to enable trading in foreign exchange options with specific interests, on electronic FX options broking system ForexMatch early next year, according to senior officials at the company in New York.
HSBC trades China’s first onshore FRAs
HONG KONG – HSBC has traded the first onshore renminbi forward rate agreements (FRAs) in China, using the Shanghai interbank offered rate (Shibor) as a reference rate.