Trading
Currenex signs two STP deals
LONDON – Currenex, the FX platform and technology vendor, has signed two straight-through processing (STP) deals with technology vendors BT Radianz and Wall Street Systems (WSS).
SuperD hires for e-trading capability
LONDON – SuperDerivatives is developing online trading capabilities for its options pricing and risk management software, and has made a senior hire to lead the effort.
CLS in MarketSpace talks
NEW YORK – CLS is in discussions with Reuters and CME about the clearing element of the MarketSpace initiative, as the settlement system seeks to ensure its long-term sustainability.
GFI rolls out pricing tool for structured products
NEW YORK – Interdealer broker, GFI has released a new version of its pricing and risk management software, incorporating a structuring and pricing tool for structured products.
Lava spreads to Russia
MOSCOW – Lava Trading will introduce trading in the Russian rouble on its FX trading platform, Lava FX, it announced at the ACI Russia International FX seminar in Moscow last week.
Play equities and bonds through FX
Adam Cole, senior currency strategist at RBC Capital Markets in London, analyses how currencies move as bond and equity markets fluctuate
FXC issues guidance paper on autodealing
NEW YORK – The Foreign Exchange Committee (FXC) has published a paper on autodealing, covering market impact and best-practice recommendations for dealers and prime brokers.
Independence aids Saxo forecasting
Saxo Bank's "non-partisan, non-bureaucratic approach to market forecasting" keeps it at the summit of the one-month historical index, according to Kristian Siggaard Jensen, FX market strategist at Saxo in Copenhagen.
CLS in MarketSpace talks
NEW YORK – CLS is in discussions with Reuters and CME about the clearing element of the MarketSpace initiative, as the settlement system seeks to ensure its long-term sustainability.
Central banks to diversify
LONDON – The world's central banks are increasingly looking at asset management as a diversifier for their historic hoarding of US dollars, according to a report from Merrill Lynch.
SunGard launches liquidity management solution
LONDON – SunGard last week launched a liquidity management solution to help corporates and banks make funding decisions based on their cash positions.
Orc adds FX coverage
STOCKHOLM – Swedish technology vendor Orc Software is expanding its multi-asset trading capabilities to the forex market by providing direct access to FXall and Hotspot FXi.
GFT opens London office
LONDON – GFT Global Markets, a new division of US firm Global Futures & Forex, has opened a London office offering spot FX, spread betting and contracts for differences.
Korea to upgrade forex system
The Financial Supervisory Service (FSS) in South Korea will launch its upgraded Foreign Exchange Monitoring System on July 1.
Investment banks post record Q2 revenues
NEW YORK – US investment banks are continuing a bumper year, with second-quarter results for fixed-income businesses exceeding previous records.
Growth in derivatives trading speeds up, reports BIS
BASEL – Trading on international derivatives exchanges has continued to pick up pace, according to the latest Bank for International Settlements (BIS) Quarterly Review, which was released last week.
Down but not out
The Fukui scandal could bring about temporary depreciation for the yen, says Toru Umemoto , FX strategist at Barclays Capital in Tokyo
DrKW leads with bearish dollar view
Dresdner Kleinwort Wasserstein (DrKW) tops this week's three-month rankings due to its commitment to a bearish dollar view, said Tim Fox, FX strategist at the bank in London.
Bear Stearns builds up in New York and Hong Kong
HONG KONG & NEW YORK – Bear Stearns has made senior appointments in Hong Kong and New York to increase its capabilities in the FX derivatives and hedge fund area.
Record trading for FX Connect and CME
BOSTON & CHICAGO – State Street's multibank e-FX exchange trading system, FX Connect, and the Chicago Mercantile Exchange (CME) have both reached new milestones in FX trading volumes.
Reuters launching algo data packages
NEW YORK – Reuters has completed the technical work and finalised the pricing of its offerings for algorithmic trading operations, officials confirm.
Reuters buys risk management specialist
LONDON – Reuters has paid $41 million for Application Networks, a risk management software specialist, as it bids to make headway in the market.
Barclays Capital picks dollar decline
Barclays Capital is ahead of the pack in the one-month historical index. It moved from fourth to second last week and tops the table this week.
Polar launches currency fund
LONDON - Hedge fund firm Polar Capital has launched its first currency-based fund, a move indicating continued interest in FX as an asset class.