News/Technology
COESfx teams up with AbleSys
PLAINVIEW, NEW YORK – Electronic currency network COESfx has formed an alliance with technology vendor AbleSys Corporation (ASC), giving FX traders access to trading signals to help improve their decision-making.
French referendum ups volatility
PARIS – The French referendum on the European Union (EU) constitution, set for May 29, has already affected euro trading, and continuing uncertainty will lead to further volatility.
CME updates free FX tool
CHICAGO – The Chicago Mercantile Exchange (CME) is adding extra data to its web-based CME Equivalents platform, in a bid to attract more mainstream users.
CME-Reuters service picks up
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters added four new clearing firms to its 'CME FX on Reuters' service last week.
US banks' FX profits surge
NEW YORK – US banks have benefited from the recent recovery in the greenback, with profits up in the first quarter.
Alstom picks FXpress
PARIS – Alstom, the Parisian technology vendor, has gone live with risk management software provider FXpress's First treasury workstation.
RBS launches online FX trading service
EDINBURGH – The Royal Bank of Scotland has launched Trade, an online trading service for forex, money markets and global treasury funds.
GFI expands Fenics with bank volatilities
NEW YORK – Interdealer broker GFI is expanding the coverage of its Fenics pricing and risk tool to include volatility surfaces – the methods by which options are priced – from bank clients.
Hotspot FXi opens in Beijing
BEIJING – Electronic trading marketplace Hotspot FXi has opened an office in Beijing to support its activities in mainland China, Hong Kong and Taiwan.
RTS revamps core platform
MOSCOW – RTS Stock Exchange is revamping its core technologies to accommodate new trading strategies.
Glitch forces Globex trading halt
CHICAGO – The Chicago Mercantile Exchange was forced to suspend trading of eurodollar futures on its Globex trading platform for two hours last Thursday, April 14, after users experienced problems accessing the eurodollar electronic matching engine.
Mixed reaction to EBS Prime initiative
LONDON – Interbank trading platform EBS' foray into the investor community is being taken up with varying degrees of enthusiasm by member banks.
MAS maintains forex policy
SINGAPORE – The Monetary Authority of Singapore (MAS) maintained its policy of a modest and gradual appreciation of the Singapore dollar nominal effective exchange rate, last week.
CLS set to expand remit
LONDON – CLS could substantially increase its remit with the introduction of a matching and netting facility for non-eligible currencies and settlement of options, non-deliverable forwards, futures and credit derivatives.
CFETS/Reuters launch non-RMB FX portal
SHANGHAI – China Foreign Exchange Trading System (CFETS) began marketing its trading platform that allows trade in eight foreign currency pairs in Shanghai last week.
Ruble and NOK benefit from high oil price
OSLO – The strong oil price has led to strength in currencies such as the Norwegian krone and the Russian ruble, as exporting nations benefit from strong revenue flows.
BarCap enhances eFX platform
LONDON – Barclays Capital (BarCap) has enhanced its eFX trading platform in a bid to offer more accurate pricing and efficient execution for its users.
Historical ticks from Tenfore
LONDON – Tenfore Systems, real-time global market data feeds and applications vendor, has launched its historical tick data service.
BBH expands limit order management solution
NEW YORK – Brown Brothers Harriman Foreign Exchange (BBH) has added multiple enhancements to FX OrderView, its electronic limit order management system.
SunGard Data deal goes through
PENNSYLVANIA – SunGard Data Systems is to be acquired by a private equity group for around $11.3 billion.