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MarketSpace: a tough challenge for CLS
The joint venture between CME and Reuters to create a market-wide FX exchange has every chance of changing the face of the industry.
Currenex signs two STP deals
LONDON – Currenex, the FX platform and technology vendor, has signed two straight-through processing (STP) deals with technology vendors BT Radianz and Wall Street Systems (WSS).
SuperD hires for e-trading capability
LONDON – SuperDerivatives is developing online trading capabilities for its options pricing and risk management software, and has made a senior hire to lead the effort.
GFI rolls out pricing tool for structured products
NEW YORK – Interdealer broker, GFI has released a new version of its pricing and risk management software, incorporating a structuring and pricing tool for structured products.
Lava spreads to Russia
MOSCOW – Lava Trading will introduce trading in the Russian rouble on its FX trading platform, Lava FX, it announced at the ACI Russia International FX seminar in Moscow last week.
FXC issues guidance paper on autodealing
NEW YORK – The Foreign Exchange Committee (FXC) has published a paper on autodealing, covering market impact and best-practice recommendations for dealers and prime brokers.
SunGard launches liquidity management solution
LONDON – SunGard last week launched a liquidity management solution to help corporates and banks make funding decisions based on their cash positions.
Orc adds FX coverage
STOCKHOLM – Swedish technology vendor Orc Software is expanding its multi-asset trading capabilities to the forex market by providing direct access to FXall and Hotspot FXi.
GFT opens London office
LONDON – GFT Global Markets, a new division of US firm Global Futures & Forex, has opened a London office offering spot FX, spread betting and contracts for differences.
Korea to upgrade forex system
The Financial Supervisory Service (FSS) in South Korea will launch its upgraded Foreign Exchange Monitoring System on July 1.
Investment banks post record Q2 revenues
NEW YORK – US investment banks are continuing a bumper year, with second-quarter results for fixed-income businesses exceeding previous records.
Record trading for FX Connect and CME
BOSTON & CHICAGO – State Street's multibank e-FX exchange trading system, FX Connect, and the Chicago Mercantile Exchange (CME) have both reached new milestones in FX trading volumes.
Reuters launching algo data packages
NEW YORK – Reuters has completed the technical work and finalised the pricing of its offerings for algorithmic trading operations, officials confirm.
Reuters buys risk management specialist
LONDON – Reuters has paid $41 million for Application Networks, a risk management software specialist, as it bids to make headway in the market.
Polar launches currency fund
LONDON - Hedge fund firm Polar Capital has launched its first currency-based fund, a move indicating continued interest in FX as an asset class.
IFX opens down under
SYDNEY - Brokerage company IFX Group has opened a new branch office in Sydney after being granted a licence by the Australian Securities and Investments Commission to provide derivatives products. These are mainly contracts for difference and FX.
Shortlist for e-FX awards available online
The shortlist for the FX Week e-FX awards has been decided. The awards, which celebrate best practice and innovation in e-FX, have been redesigned to make them more suited to the current e-FX landscape and have been given a more rigorous judging process.
Merrill Lynch departures continue
LONDON – The departures from Merrill Lynch have continued, with a quartet of staff leaving in the wake of a restructuring at the US investment bank.
Philips Electronics trades 98% of FX electronically
MONTE CARLO – The e-FX market received a strong endorsement last week, with Philips Electronics revealing that nearly all its FX is transacted electronically.
Cfets plans bond trading
China Foreign Exchange Trading System (Cfets) is to introduce an electronic system to trade US dollar-denominated bonds. The plans emerged following the publication of a report at a conference held last week in Qinghai province organised by the National…
Merrill Lynch departures continue
LONDON – The departures from Merrill Lynch have continued, with a quartet of staff leaving in the wake of a restructuring at the US investment bank.
Japanese banks set to expand overseas forex presence
TOKYO – Mitsubishi UFJ Financial Group became the first Japanese bank to buy a stake in a Chinese lender last week, as it looks to build its FX presence in the country.
Remaining NAB traders found guilty
MELBOURNE – The final two foreign currency options traders behind the rogue trading scandal discovered at National Australia Bank (NAB) in 2004 were found guilty last month.
Icap to launch multi-asset class trading
LONDON – Icap is set to offer multi-asset class trading following the acquisition of EBS, with Jack Jeffery taking a central role at the restructured business.