Articles by FX Markets Staff
Eurex US takes fight to CME
CHICAGO – Eurex US, the American subsidiary of Germany's Eurex, launched its bid to take on the CME in the FX futures market on Friday, as it started trading with 20 market-makers.
Saxo opens London office
COPENHAGEN AND LONDON – Danish forex specialist Saxo Bank is to open a London office early next year, as it aims to gain traction in the hedge fund and institutional markets.
FNX extends connectivity
PHILADELPHIA – FNX, the Philadelphia-based vendor, has extended connectivity to third-party systems BrokerTec, eSpeed and to the CME and CBOT exchanges.
SuperD expands into rates
LONDON – Online options trading platform SuperDerivatives has launched its own interest rate options platform, SD-IR, following on from its entry into the FX market with SD-FX in 2001.
West LB closes London prop-trading desk
LONDON – German bank WestLB has closed its London prop-trading desk, according to market sources.
StanChart becomes EBS Prime bank
LONDON – Standard Chartered has joined EBS Prime as a prime bank, in a move the platform hopes will boost its penetration in emerging markets.
All this and more
In the final multibank platform focus, FX Week looks at the prospects of FXall in its bid to continue the growth it saw in its first four years
China heading for free market
SHANGHAI and Beijing – China took two further steps towards currency liberalisation last week, with a widening of the yuan trading band and the introduction of forwards trading for corporates.
CST to complete takeover talks
LONDON – Collins Stewart Tullett (CST) plans to complete talks with potential buyers by the end of October, it announced last week.
Dow Jones adds to forex coverage
HONG KONG – Dow Jones Newswires has launched a website to complement its 'CommentaryPlus' real-time commentary and analysis service.
Headhunters out in the cold
LONDON – Banks are increasingly hiring FX staff from competitors directly, forcing search firms to focus more on other asset classes, according to market participants.
Record Q3 for US banks
NEW YORK – US investment banks have posted record-breaking third quarter results, largely arising from a profitable quarter in foreign exchange.
CLS breaks $4 trillion barrier
NEW YORK – CLS Bank set a new record for the value of payment instructions settled in a single day on last Wednesday, September 21.
GFI and Traiana offer processing boost for forex options trading
NEW YORK and LONDON – FX options trading is to get a boost, with broker GFI and technology vendor Traiana both launching automated processing services in the market.
Platforms adopt algorithmic trading
NEW YORK – Algorithmic trading continues to gather momentum, with trading platforms EBS and Hotspot FXi linking to software provider Progress Software Corporation's Apama Algorithmic trading software.
Citi continues Vasp build-up
LONDON – Citigroup has made two hires as it builds its FX risk advisory and structured products teams in London. Both teams sit within the bank's value-added services and products group (Vasp) which it established a year ago ( FX Week , September 20,…
Lehman hires new trade head
NEW YORK – Lehman Brothers has hired Jason Margiotta as head of forex forwards trading, New York, FX Week understands.
Oiling the wheels of kroner strength
Adam Myers, FX strategist at UBS in London, discusses the potential for a Norwegian kroner (NOK) setback in the short term Ministry of Finance and the Norges Bank Petroleum fund
The first to Connect
In the penultimate platform focus, FX Week assesses the prospects of pioneering platform FX Connect
Iceland builds foreign reserves
REYKJAVIK – The Central Bank of Iceland (CBI) has decided to increase its USD/ISK weekly buying from $2.5 million to $12.5 million by the end of the year following the improved liquidity position of the Treasury.
BBH links to Reuters' RMDS
NEW YORK – Brown Brothers Harriman (BBH)