Articles by FX Markets Staff
Board-level changes at Lehman Brothers
NEW YORK – Lehman Brothers, the US investment bank, has seen changes at board level following the promotion of Michael Gelband.
Romania takes Delta Dealing System
Bucharest – Dublin-based software vendor Delta Community has successfully entered the Romanian market.
Advice is key for banks
STOCKHOLM – Falling margins means execution of FX transactions is not profitable any more, so banks must offer a wide range of services to ensure they keep making money.
InfoReach adds HotspotFXi to TMS
NEW YORK – InfoReach, the financial securities trading technology firm, has teamed up with Hotspot FXi, the online foreign exchange platform, to allow its clients access to its prices.
BTM becomes EBS Prime bank
Bank of Tokyo-Mitsubishi has become the first Asian institution to become an EBS Prime Bank. BTM will now be able to offer liquidity for spot FX dealing through the direct access platform on the EBS spot dealing system.
Five charged over $3m currency fraud
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has filed another action against individuals taking part in fraudulent foreign exchange trading.
Twin launch from Cognotec
DUBLIN – Cognotec, the Dublin-based technology vendor, has launched two services for client banks – RealStream and FX Orders Connect.
Logicscope/Velocity service due
LONDON – Logicscope Realisations, the London-based financial software development company, and Adelaide-based financial services firm Velocity Systems International, have formed an alliance, initially focusing on FX.
Currency warrants taking off in Asia
Hong Kong – Banks are looking to meet the increasing demand for forex-related products by launching currency warrants in major Asian markets.
BarCap continues global build-up
NEW YORK AND LONDON – Barclays Capital (BarCap) has made two hires in New York and London as it continues to build its global presence.
Reuters opens to buy-side
LONDON – Reuters has opened its FX trading platform to the buy-side community with the launch of FX trading over its information desktop last week.
EBS Prime enters Asia-Pacific region
LONDON – Interbank trading platform EBS has extended the EBS Prime service into the Asia-Pacific region, expanding beyond Europe and the US.
Skandies set to diverge
The Norwegian krone likely to strengthen against the Swedish krona in the short term, according to Emma Lawson, FX associate at Merrill Lynch in London
Swedish minister’s euro warning
STOCKHOLM – The Swedish decision to stay out of the euro will lead to vulnerability for the currency and economy, according to Pär Nuder, Swedish minister of finance.
Bloomberg adds RBS and WestLB
NEW YORK – Royal Bank of Scotland Financial Markets (RBS) has added streaming forex spot trading via Bloomberg Professional Service to its existing e-commerce trading capabilities.
Landesbanks hit by EU ruling on credit ratings
MUNICH – Landesbanks are facing a significant loss of FX business from July, as EU rules will hit their credit ratings.
McKenzie resurfaces at Lava Trading
NEW YORK – Allan McKenzie has joined US-based vendor Lava Trading as head of EMEA sales for LavaFX in London.
Benefiting from yuan revaluation
The Lloyds TSB Financial Markets team suggests how to benefit if the Chinese yuan revalues and Asia follows suit
Imbalances the major threat
STOCKHOLM – Global imbalances caused by currency intervention are building up and pose a real threat to world economic stability. This was the key message of central bankers at last week’s ACI conference in Stockholm.
Wall Street Systems launches limit order product
NEW YORK – Wall Street Systems (WSS) has launched its FX Limit Orders Module. The module provides customers with an HTML-based environment for submitting spot foreign exchange limit orders to a dedicated execution bank.
Chinatrust Commercial goes live with SaxoTrader
HONG KONG – Chinatrust Commercial Bank has begun trading over Saxo Bank’s online trading tool, SaxoTrader.