Trading
Preparing for a decline in cable
WHAT STRATEGY SHOULD BE ADOPTED AHEAD OF STERLING'S FALL AGAINST THE US DOLLAR? BEN TYLER , ASSOCIATE DIRECTOR, STRUCTURED FX AT LLOYDS TSB CORPORATE MARKETS IN LONDON INVESTIGATES
Panel findings highlight evolving role of buy-side
LONDON – The rise of algorithmic trading indicates that the traditional distinction between the buy- and sell-side is fading, according to a panel discussion held in London last week.
Morgan Stanley adopts multi-asset class approach
NEW YORK & LONDON – Morgan Stanley has restructured its fixed-income and equities businesses to adopt a multi-asset class approach to dealing with clients.
Dresdner loses three in Moscow and Singapore
MOSCOW & SINGAPORE – Dresdner Kleinwort is understood to have lost three members of its FX team in Moscow and Singapore.
Citigroup shakes up Asia forex
SINGAPORE – Citigroup has restructured senior FX management in Asia, as it realigns its business under the new fixed-income, currencies and commodities (FICC) structure.
SmartStream launches TLM Trade Process Management
LONDON & BOSTON – London-based technology vendor SmartStream Technologies last week released a system that automates the transaction lifecycle from execution to settlement.
Bloomberg Tradebook adds forex forwards
NEW YORK & LONDON – Electronic broker Bloomberg Tradebook plans to add FX forwards to its electronic communications network Bloomberg Tradebook FX, in the second quarter.
CME widens footprint and connectivity
CHICAGO – The Chicago Mercantile Exchange (CME) has outlined plans to broaden its global FX footprint and improve international connectivity.
Reuters develops Mifid data solutions
LONDON – Reuters is developing a series of tools aimed at meeting data requirements under Europe's Markets in Financial Instruments Directive (Mifid).
Quant House hooks up to Hotspot
PARIS – Programme trading system vendor Quant House has built an application programming interface (API) to electronic communications network Hotspot FXi.
BNP Paribas gains in London, loses in Paris
LONDON & PARIS – BNP Paribas has appointed Peter Snasdell to a senior FX sales role in London.
FXDD launches PowerTrader platform
NEW YORK – Online FX trading company FXDD has partnered with an undisclosed prime broking bank to launch a platform targeting institutional investors. The platform, called PowerTrader, is a white-label product that uses a prime broker to access pricing…
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.
Rallying euro benefits Scotia Capital
Currency strategists Camilla Sutton and Stephen Malyon said that anticipating last month's euro climb helped Scotia Capital to top the one-month historical table.
EBS adds NZ dollar to platform
Interdealer broker Icap is adding the New Zealand dollar to EBS Spot, its spot broking platform, on April 26.
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
Bloomberg adds Asian NDIRS to its terminal
SINGAPORE – Bloomberg has added trading in Asian non-deliverable interest rate swaps to its Professional terminal, signalling the continued push by platforms to expand coverage of the region.
A bearish dollar view benefits GFT
GFT's bearish one-month forecast for the US dollar flew in the face of largely positive economic data coming out of the US, including employment and GDP figures.
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
When opportunity comes a-knockin'
In the past few weeks, FX Week has looked at opportunities the retail forex market presents for banks.
Merrill Lynch to boost FXPB
LONDON – Merrill Lynch looks to be building up its foreign exchange prime brokerage (FXPB) capabilities, with the hire of Roger Allen in London.
Wall Street Systems realigns technology profile
NEW YORK & LONDON – Technology vendor Wall Street Systems has repositioned its products in an attempt to target banks in addition to corporates.
WestLB relocates Asian forex hub to Sydney
SYDNEY & Düsseldorf – WestLB is relocating the Asian hub for its 24-hour FX trading business from Singapore to Sydney.
RBS builds macro team
LONDON – The Royal Bank of Scotland Global Banking and Markets has established a new macro proprietary trading team in London.