Articles by FX Markets Staff
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.
CST merger leads to derivatives domination
LONDON – The £132 million Collins Stewart Tullett (CST) acquisition of Prebon Yamane last October has propelled the combined group to domination of the broker categories for interest rate and currency derivatives in sister pulication Risk 's 2005 inter…
RBS hits top spot in Risk poll
LONDON – Derivatives market giants Deutsche Bank, JP Morgan, UBS and Credit Suisse First Boston (CSFB) are facing a threat from a wider number of banks trying to capture interbank business.
Structured products in the spotlight
WASHINGTON, DC – Concerns over the mis-selling of structured products to investors in the US has prompted the National Association of Securities Dealers (NASD) to issue guidelines to ensure members fall within the scope of sales practice codes.
Misys and Hotspot FXi to provide shared services
LONDON & NEW JERSEY – Electronic marketplace Hotspot FXi and Misys Banking Systems have entered into a strategic partnership that will give clients of each company access to the others' services.
Hedging rupee currency pairs
The global markets team at ICICI Bank in Mumbai suggests ways for Indian corporates to hedge against volatility in the Indian rupee currency pairs.
Sign up for buy-side involvement
Olaf Ransome, head of transactions development and support at Credit Suisse in Zurich, calls on FX management to embrace plans to adopt an agreement that would make it much easier for the buy side to sign up to continuous linked settlement
Keeping up to speed
Nigel Renton tells FX Week how the eSpeed FX platform competes in an already full market
Saxo adds three to Copenhagen team
COPENHAGEN – Danish FX specialist Saxo Bank has made three additions to its institutional sales and strategy teams in Copenhagen.
RBS hires Japan eCommerce head
TOKYO – The Royal Bank of Scotland Financial Markets has hired Junko Kawada as head of eCommerce sales, Japan, as part of efforts to build its eCommerce business in the region.
Dollar boosts FX derivatives
BASLE – The rally in the US dollar has worked to the benefit of exchanges offering trading in currency derivatives.
Corporate customers 'unhappy with bank service' – SAP boss
COPENHAGEN – Corporate customers are dissatisfied with current levels of service from their banks, said Léo Apotheker, president of global field operations at technology vendor SAP at the 2005 Sibos conference held last week.
Major banks to pilot SwiftNet TSU
COPENHAGEN – Swift announced that 13 major trade banks have signed on to pilot the SwiftNet Trade Services Utility (TSU) solution.
Three more banks get green light to trade RMB forwards
BEIJING – The People's Bank of China authorised a further three banks to trade renminbi (RMB)forwards onshore last week, following regulatory changes made last month.
Saxo Bank expands FX
COPENHAGEN & FRANKFURT – Saxo Bank, the Danish foreign exchange specialist, has introduced enhanced technology to cover a wider range of products and functionality.
ICICI suspends five for trading losses
MUMBAI – ICICI Bank, India's largest domestic private bank, has suspended five staff for their involvement in an FX deal resulting in more than 10 million rupees ($228,000) in losses.
FX Connect and Currenex to pool resources
NEW YORK & BOSTON – FX Connect and Currenex are looking at ways to collaborate to provide a more complete solution to clients.
DrKW targets digital markets division
GLOBAL – German investment bank Dresdner Kleinwort Wasserstein (DrKW) is establishing a new digital markets division aimed at developing and operating electronic and web-based trading, execution and analytical services for FX and other asset classes.
Banks risk US regulatory backlash
NEW YORK – FX banks could face a regulatory backlash in the US for the mis-selling of FX products by retail brokers, warn market players.
Eurex to roll out its futures platform in United States
CHICAGO & Frankfurt – Eurex, the Frankfurt-based derivatives exchange, will be rolling out its FX futures platform in the US this month as planned, confirms an official at the exchange in Frankfurt.