Articles by FX Markets Staff
Forefront Investments faces suit from CFTC
WASHINGTON DC – The US Commodity Futures Trading Commission (CFTC) has filed a complaint against Richmond, Virginia-based futures broker Forefront Investments, for failing to hold adequate net capital.
Dresdner rebuilds global forex business
LONDON, FRANKFURT & SINGAPORE – Dresdner Kleinwort has rebuilt its foreign exchange business, with 13 new hires.
Steady growth on FXMarketSpace
LONDON, CHICAGO & NEW YORK – Reuters and Chicago Mercantile Exchange joint venture platform FXMarketSpace went live last week, with volumes understood to be growing gradually.
All eyes are on Chicago this week
FXMarketSpace has finally gone live, and apparently things aren't going too badly.
Deutsche dealt blow in Asia
SINGAPORE – It is understood that Deutsche Bank has lost Jai Rajpal, its global head of Asian currency trading, to Lehman Brothers, in what is being viewed as a huge blow for the bank.
Steady growth on FXMarketSpace
LONDON, CHICAGO & NEW YORK – Reuters and Chicago Mercantile Exchange joint venture platform FXMarketSpace went live last week, with volumes understood to be growing gradually.
HDFC Bank chooses Misys for rates derivatives
MUMBAI – HDFC Bank in India will adopt Misys Summit to process interest rate and currency derivatives. The system is scheduled to go live at the end of this year. HDFC and UK technology provider Misys are also in discussion to use the system for equity…
NFA cracks down on futures brokers
CHICAGO – The National Futures Association (NFA) ordered Richmond, Virginia- based futures broker Forefront Investments to liquidate all customer and firm positions by last Wednesday (March 21).
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
EBS adds NZ dollar to platform
Interdealer broker Icap is adding the New Zealand dollar to EBS Spot, its spot broking platform, on April 26.
Banks gear up to fight online traders
Last week provided some interesting insight into the insecurities some banks are suffering from vis-à-vis online trading companies.
FXDD launches PowerTrader platform
NEW YORK – Online FX trading company FXDD has partnered with an undisclosed prime broking bank to launch a platform targeting institutional investors. The platform, called PowerTrader, is a white-label product that uses a prime broker to access pricing…
BNP Paribas gains in London, loses in Paris
LONDON & PARIS – BNP Paribas has appointed Peter Snasdell to a senior FX sales role in London.
Quant House hooks up to Hotspot
PARIS – Programme trading system vendor Quant House has built an application programming interface (API) to electronic communications network Hotspot FXi.
Reuters develops Mifid data solutions
LONDON – Reuters is developing a series of tools aimed at meeting data requirements under Europe's Markets in Financial Instruments Directive (Mifid).
CME widens footprint and connectivity
CHICAGO – The Chicago Mercantile Exchange (CME) has outlined plans to broaden its global FX footprint and improve international connectivity.
Merrill takes MS salesman
LONDON & NEW YORK – Merrill Lynch has hired Vincenzo Galli-Zugarro as head of European real-money FX sales.
Bloomberg Tradebook adds forex forwards
NEW YORK & LONDON – Electronic broker Bloomberg Tradebook plans to add FX forwards to its electronic communications network Bloomberg Tradebook FX, in the second quarter.
SmartStream launches TLM Trade Process Management
LONDON & BOSTON – London-based technology vendor SmartStream Technologies last week released a system that automates the transaction lifecycle from execution to settlement.
Citigroup shakes up Asia forex
SINGAPORE – Citigroup has restructured senior FX management in Asia, as it realigns its business under the new fixed-income, currencies and commodities (FICC) structure.
Dresdner loses three in Moscow and Singapore
MOSCOW & SINGAPORE – Dresdner Kleinwort is understood to have lost three members of its FX team in Moscow and Singapore.
Morgan Stanley adopts multi-asset class approach
NEW YORK & LONDON – Morgan Stanley has restructured its fixed-income and equities businesses to adopt a multi-asset class approach to dealing with clients.
Panel findings highlight evolving role of buy-side
LONDON – The rise of algorithmic trading indicates that the traditional distinction between the buy- and sell-side is fading, according to a panel discussion held in London last week.