Articles by FX Markets Staff
ACM launches Flash platform
Swiss online broker ACM - Advanced Currency Markets - has released an enhanced version of its Flash platform, the Advanced Flash Trader.
Nordea signs up with SuperD
COPENHAGEN - Nordea will use data and software vendor SuperDerivatives' market data feed to ensure price transparency, and assist with accounting and regulatory compliance.
Lloyds TSB goes live with MarketsLink
LONDON - Lloyds TSB plans to double its electronic customer base in 12 months on the back of a substantial upgrade to its online platform, according to bank officials in London.
Saxo Bank adds JP Morgan to its prime broker list
COPENHAGEN - Saxo Bank is using US bank JP Morgan as its prime broker to trade anonymously over electronic spot foreign exchange trading system, Reuters Spot Matching.
Nothing beats a good trading scandal
The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much…
Cuts at Credit Suisse
LONDON & ZURICH - Credit Suisse is closing its spot foreign exchange trading desk and reducing its southern European FX sales team in London.
Deutsche cuts forex in London
LONDON - Deutsche Bank has made five cuts to its foreign exchange team in London, as part of wider redundancies in the global markets business.
Ex-BNP FX head joins Bear
LONDON - Bear Stearns has realigned senior foreign exchange management in Europe, with Loïc Meinnel, former global head of FX at BNP Paribas, taking the helm in London.
FX thrives in South Korea
SEOUL - Foreign exchange derivatives were behind the large gains posted by banks operating in South Korea in the third quarter of 2007, according to official statistics.
Calyon chief heads Newedge
LONDON, NEW YORK, PARIS - Newedge, the joint venture institutional brokerage formed through the merger of Calyon Financial and Fimat, last week, announced its new foreign exchange line up.
HK bank Wing Lung licenses Fenics FX
HONG KONG & LONDON - A growth in Hong Kong bank Wing Lung's foreign exchange options business has prompted it to license GFI Group's options pricing and risk management system, Fenics FX.
SWFs under pressure to disclose
Marc Chandler, chief currency strategist at Brown Brothers Harriman in New York, looks at why the issue of sovereign wealth fund transparency is such a heated one
Saxo Bank sells 5% stake for $92m
COPENHAGEN, LISBON & LONDON - Espirito Santo Financial Group (ESFG) and subsidiary Banco Espirito Santo Group (BESG) have bought a 5% shareholding in Saxo Bank, in a move to expand the bank's electronic capabilities.
Icap speeds up price info on EBS
LONDON - Interdealer broker Icap has cut latency on spot-broking system EBS Spot and market data service EBS Live, according to a letter to EBS Prime bank customers seen by FX Week .
NFA fines IFX Markets $60,000
CHICAGO & LONDON - London-based futures brokerage IFX Markets has received a $60,000 fine from US industry regulator the National Futures Association (NFA).
Platforms see record trading in volatile markets
LONDON - Interdealer broker Icap and the Chicago Mercantile Exchange (CME) posted record trading volumes last Tuesday (Jan 22), amid an upswing in market volatility.
BoA scales back global FX
LONDON, NEW YORK & SINGAPORE -Bank of America (BoA) is continuing to scale back its global foreign exchange operations, with senior-level departures and desk closures last week.
Seeking a sterling collapse
By Pete Luxton, global markets adviser, and Dave Willmer, foreign exchange options market strategist, at Informa Global Markets in London
CLS product expansion welcomed
CLS's announcement last week that it has begun settling credit derivatives trades demonstrates the industry utility's efforts to reduce the unit cost and total bill for settling forex trades over the system.
Reuters launches enhanced prime brokerage service
LONDON - Ten banks and buy-side clients have begun using a revamped prime brokerage offering by Reuters to trade over electronic trading system Spot Matching.
Rand Merchant Bank to roll out e-trading
JOHANNESBURG - Rand Merchant Bank (RMB), a division of FirstRand Bank, plans to go live with a multi-asset class electronic trading platform by Q3.
Deutsche woos private clients
LONDON - Deutsche Bank has established a private clients foreign exchange team in London and Zurich, to target the expanding high-net-worth client base.