Articles by FX Markets Staff
CME and SGX renew their mutual agreement
CHICAGO & SINGAPORE – Chicago Mercantile Exchange (CME) and Singapore Exchange (SGX) last Monday (October 30) renewed their mutual offset system (MOS) agreement, which allows clearing of certain products at either CME or SGX.
Currenex develops Fix spin-off
LONDON – Currenex is launching an open standard Fix-based straight-through processing (STP) protocol for FX, money markets and precious metals this week.
Grupo Santander goes live with SuperDerivatives platform
MADRID – Grupo Santander has licensed SuperDerivatives' commodities and energy real-time pricing and analytics platform SD-CM, as it expands its European and Latin American energy and metals derivatives business.
ABN Amro
HANOI – ABN Amro violated Vietnamese banking regulations, according to an audit report by the State Bank of Vietnam.
LatentZero enables hedge funds to use Capstone software
LONDON – Technology vendor LatentZero last week added functionality to enable hedge funds to use its Capstone portfolio analysis software.
Headwinds are set to hinder the rand
Razia Khan, senior economist at Standard Chartered in London says the fundamentals for the rand are not supportive despite a recent rally
Banks are ignoring Mifid threat, says Celent
BRUSSELS – The forex industry will be beset by law suits and regulatory action if it continues to ignore the Mifid directive coming into force next year, according to a research consultancy.
Aegis seeks to introduce forex industry standard
NEW YORK – Aegis Software has developed a framework that it is seeking to introduce as an industry standard in tracking workflow for FX and futures trading.
Slovakian bank adopts TremaSuite software
BRATISLAVA – The National Bank of Slovakia (NBS) has adopted Wall Street Systems' TremaSuite treasury and asset management software to manage its front, middle and back office banking functions.
London's forex share continues to increase
LONDON – The UK continues to be the centre for foreign exchange, accounting for nearly a third of global foreign exchange turnover, according to research released last week.
Fimat opens banking branch in Hong Kong
HONG KONG – Brokerage firm Fimat International Banque opened a bank branch in Hong Kong last week, which will act as a regional hub for the firm.
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
London lords it over continental rivals
London remains the heart and soul of the foreign exchange industry, with its position as the global financial capital of the world confirmed by a report published by International Financial Services, a London-based research firm.
Fix Protocol upgrades its forex messaging system
NEW YORK – Forex messaging is to be enhanced, with the latest version of Fix Protocol set for launch in November.
Hedging ahead of takeover activity
Stephane Knauf, Global Head of FX Structuring at Citigroup in New York, proposes deal-contingent forwards and options to hedge risks ahead of a potential cross-border acquisition
US banks report profits down in third quarter
NEW YORK & CHARLOTTE, N CAROLINA – Citigroup, Morgan Stanley and Bank of America released positive earnings reports for the third quarter, but all failed to profit from their FX businesses.
Banks build forex in Asia
JAKARTA & SINGAPORE – There have been senior moves at major banks in the Asia-Pacific region this week, as banks look to boost their teams in the region.
Custom House opens new Asia-Pacific headquarters
AUCKLAND – Foreign exchange specialist Custom House has opened a new office in New Zealand and made it the regional head office for Asia Pacific.
ODL moves into spread betting
LONDON – Broker ODL is to establish an FX spread-betting operation to target UK consumers early next year, the company said.
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
FXMarketSpace ups ante
LONDON – Twenty banks have committed to becoming clearing prime brokers on the FXMarketSpace platform, a senior official at the CME/Reuters venture told FX Week.