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IT spending 'will double' by 2010
LONDON – Dealers will almost double e-commerce spending by 2010, according to research from client strategy firm ClientKnowledge in London.
North American companies not ready to take on FX risk
NEW YORK – North American firms are insufficiently prepared to deal with FX risk, according to a survey by forex specialist Travelex.
Citigroup loses four in Milan sales
MILAN – US bank Citigroup has lost a number of its Italian FX institutional sales team in Milan in recent weeks, according to market sources.
RBS expands global sales team
GLOBAL – The Royal Bank of Scotland (RBS) has boosted its financial institutions sales team with nine hires globally.
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.
Safe proposes forex management agency
SHANGHAI – The central bank of China's FX regulator plans to set up an agency in Shanghai in the summer to oversee the country's FX reserves portfolio, according to local press reports.
BarCap rolls out e-FX for Asia
SINGAPORE – Barclays Capital (BarCap) has launched electronic trading of vanilla FX options in Asia via its proprietary platform, Barx for FX Trading.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
GFI to launch hybrid offering
NEW YORK – Broker GFI is set to introduce a hybrid voice and electronic options offering, and is making management changes to reflect the increased capability.
Speculative positions for all currency pairs
Senior portfolio strategist Henrik Degrér at SEB in Stockholm develops a proxy to gauge speculative positions for all currency pairs
Reuters adds four banks to RTFX platform
LONDON – Deutsche Bank, Dexia, HSBC and Société Générale (SG) have joined Reuters' bank-to-client platform Reuters Trading for Foreign Exchange (RTFX).
Global sales head for HSBC
NEW YORK & LONDON – HSBC has made Rod Prat global head of sales, global markets, in New York, as it looks to implement a global strategy.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
E-trading for Calyon Financial
PARIS – Calyon Financial, the brokerage arm of French bank Calyon, last week launched an online forex trading platform called Calyon Financial FX Edge.
Manila plays host to forex industry
Friday MANILA – The conference proper starts on Friday, with welcome remarks from Amando Tetangco, governor of the Bangko Sentral ng Pilipinas, and the secretary of the department of finance, Margarito Teves. Delegates will then hear from the president…
SEB selects Monarch for MAP
STOCKHOLM – Skandinaviska Enskilda Banken (SEB) has selected Monarch Capital Management as a manager in its FX Managed Alpha Product (FX MAP) currency platform.
Still early days for the retail boom
The deadline for this year's e-FX awards fell on Friday last week, and the entries for the various categories are instructive about the current state of the industry.
TraderTools goes with the flow
NEW YORK – Financial systems integrator Worldflow and vendor TraderTools have formed a strategic alliance whereby the former extends implementation and support capabilities of TraderTools' e-FX platform across Europe.
New FX sales chief for Citi
NEW YORK – Citigroup has made Anu Jayanti global head of FX sales in New York.
COESfx forms strategic partnership
PLAINVIEW, NY – COESfx, an online foreign currency trading firm, has formed a strategic partnership with Connecticut-based daily market forecasting company Crosscurrents Investment Advisory Service.
BoA boosts sales and trading
NEW YORK – Bank of America (BoA) has boosted its global FX business with three hires in New York and Singapore, it has confirmed.
CME to offer won trading
SEOUL & CHICAGO – Chicago Mercantile Exchange (CME) and the Korean Ministry of Finance and Economy (MOFE) have announced plans to list futures and options on futures on the Korean won.
Bloomberg continues FX boost
NEW YORK – Bloomberg is continuing to build up its forex capabilities with a new information product called FXIP (foreign exchange information platform).
Looking at the past with an eye to the future
Saturday MANILA – Saturday kicks off with a long view of the FX market, as a panel discusses how currencies have developed in recent times. The session entitled 'Evolution of currencies fixed to floating/ national to regional will be moderated by…