Articles by FX Markets Staff
CLS sets new one-day record
LONDON & NEW YORK – CLS Bank International (CLS Bank) has set a new record for the value of payment instructions settled in one day.
Morgan Stanley posts strong results
NEW YORK – Morgan Stanley reported net income of $1.957 billion for Q2 2006, up 111% year-on-year and up 25% on the last quarter.
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.
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.
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.
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.
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.
Big Four battle for market share
SYDNEY – The 'Big Four' Australian banks are battling to retain FX market share in the face of stiff competition from specialist FX providers, according to research 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
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.
Neglect smaller players at your peril
The findings by research firm East & Partners about the difficulties faced by Australian banks should act as a warning to the big players in other markets who are, in many cases, missing a trick.
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.
Korea to upgrade forex system
The Financial Supervisory Service (FSS) in South Korea will launch its upgraded Foreign Exchange Monitoring System on July 1.
Yen undervalued, survey finds
LONDON – The majority of respondents to a global fund managers' survey by Merrill Lynch believe the yen to be undervalued.
Reserve claim made for rouble
MOSCOW – The rouble could one day be the world's major reserve currency, according to Dmitry Medvedev, Russia's first deputy prime minister. On the same day as he made the claim, the rouble officially acquired its new symbol.
Turkcell rolls out SD-FX
Turkish mobile telecoms company Turkcell has licensed SD-FX, an FX pricing system from SuperDerivatives.
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.
DataSynapse partners Misys
Misys Banking Systems, a banking software provider, is expanding its partnership with DataSynapse to grid-enable the Misys treasury and capital markets solution, Misys Summit FT, with DataSynapse's GridServer.
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.
Dealers archive via SwapsWire
LONDON – Three dealers – ABN Amro, JP Morgan and UBS – have uploaded a sample of historical swaps trading data to SwapsWire in London as part of a pilot project for resolving mismatches.
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.
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.
Chinese volatility picking up
BEIJING - The daily central parity rate for USD/RMB last week had its largest fall since the renminbi's revaluation last July.