Trading
FXMarketSpace build-up continues with eight hires
LONDON, NEW YORK & CHICAGO – FXMarketSpace, the Reuters and Chicago Mercantile Exchange (CME) joint-venture platform, has made eight new hires ahead of launch at the end of this quarter.
WestLB plugs into Gissing Software
LONDON – German bank WestLB is using technology from Gissing Software to distribute foreign exchange and money market prices across its offices globally.
GFI gains Fenics FX client in Singapore
SINGAPORE – A major Singapore bank, thought to be DBS, is deploying foreign exchange option pricing and risk management software, Fenics FX, from interdealer broker GFI.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.
Bullish results for US investment banks
LONDON & NEW YORK – US investment banks have continued to report year-on-year growth, in first quarter results released last week.
Oanda adds five exotic currency pairs
TORONTO – Online FX trading company Oanda has added five new currency pairs to its trading platform FXTrade.
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
AIG launches emerging markets FX indexes
NEW YORK – AIG Financial Products last week launched emerging-markets (EM) foreign exchange indexes, to leverage the continued investor interest in the area.
EBS to expand EM capability
SINGAPORE – Spot broker EBS plans to expand its emerging markets capabilities with a number of new currencies set for launch in the coming months.
Gain Capital rolls out web-based platform
BEDMINSTER, NEW JERSEY – Gain Capital has launched a Windows-based margin trading platform for institutional and individual investors.
CFTC stings Pioneer for record-keeping lapses
WASHINGTON, DC – The US Commodity Futures Trading Commission has fined futures commission merchant Pioneer Futures $25,000 in civil penalties, for failing to keep up-to-date records.
SuperDerivatives launches derivatives trading platform for hedge funds
LONDON – Technology firm Super-Derivatives has launched an online multi-asset derivatives trading platform, designed for hedge funds.
BarCap loses three in Asia
HONG KONG – Barclays Capital has lost three members of its foreign exchange team in Asia, market sources told FX Week .
BoA hit by spate of forex departures
LONDON & NEW YORK – Gaps are widening within Bank of America's FX operations, with a flood of departures last week.
Bullish yen outlook helps BNP Paribas
Ian Stannard, senior currency strategist for BNP Paribas in London, said Japanese weekly security flow data from the Ministry of Finance gave the firm an indispensable heads-up on the health of the yen.
HSBC names new forex line-up in North America
NEW YORK – HSBC has named two new co-heads of FX for North America.
The beginning of a long-term decline?
The carry trade environment for GBP/JPY is scrutinised by Simon Derrick, managing director, global markets at Bank of New York in London
Bear Stearns poaches senior BNP Paribas staff
PARIS – Bear Stearns has hired two senior FX staff from BNP Paribas, as part of plans to launch its FX business in Paris, market sources say.
The risky business of trading
The case for banks entering the retail market with trading platforms of their own seems to be getting stronger.
EBS to expand EM capability
SINGAPORE – Spot broker EBS plans to expand its emerging markets capabilities with a number of new currencies set for launch in the coming months.
Trading platform volumes surge as stock markets plunge
LONDON - The sharp correction in stock markets around the world last week triggered the unwinding of the carry trade, bringing record trading volumes to foreign exchange platforms.
Slovakia braced for euro arrival
What factors will determine the conversion rate of the Slovakian koruna when it joins the euro, asks Jan Toth, ING's chief economist in Bratislava
Thailand to scrap controls
BANGKOK - The Bank of Thailand's plans to get rid of remaining capital controls will lead to a widening of the spread between the onshore and offshore spot rates, say analysts.