Infrastructure
Calyon adopts Caplin Trader front end
LONDON - Calyon plans to use multi-asset class web-based front end Caplin Trader, by London-based web technology vendor Caplin Systems, for its new online single-dealer portal for fixed-income trading.
Foreign exchange: the entrepreneurs' market
Does anyone get the impression Michael Spencer is not only taking over the foreign exchange industry but also keeping developments in the family?
Asia should ditch USD to cut settlement risk
HONG KONG & TOKYO - US dollar settlement risks in the Asian foreign exchange market could be reduced by using an Asian vehicle currency for intra-regional trade and direct settlement among Asian currencies, according to economists.
SuperDerivatives upgrades forex platform
LONDON - Seven banks have begun using upgraded pricing and risk management software offered by SuperDerivatives that includes expanded exotics support and integrated price discovery, marketing, reporting and online execution.
Libor gets an overhaul
LONDON - The British Bankers' Association (BBA) has announced changes to the governance of the London Interbank Offered Rate (Libor).
Standard Chartered gains French foothold
PARIS - Standard Chartered opened a branch in Paris on June 5 in response to the growth in its global corporates and financial institutions business in France.
Rising dollar brings Parker FX down
STAMFORD, CT - The Parker FX Index produced a 0.01% loss in April, as the US dollar rose against a basket of G-6 currencies for the first time in several months.
Deutsche builds EM options
LONDON - Deutsche Bank has moved to enhance its emerging markets options capabilities with a key hire from Goldman Sachs in London.
Cultural change needed post-crisis
BOSTON - As banks and other market players seek to close risk management loopholes exposed by tottering markets, some post-mortems are homing in on a broader issue: corporate culture.
Between a rock and a hard place
Patrick Lefler, foreign exchange consultant at Wall Street Systems in New York, looks at the future of CLS as demand grows for bilateral netting
Global heads quit StanChart
SINGAPORE - Standard Chartered has been hit by senior management departures in Singapore, amid the bank's continuing restructuring, launched at the end of last year.
Ex-EBS chief now at SuperD
LONDON - Jack Jeffery, former chief executive at electronic spot broker EBS, has resurfaced at options pricing and risk management software vendor SuperDerivatives.
NewEdge grows in Asia-Pacific
HONG KONG – Brokerage firm Newedge is expanding its presence in Hong Kong with five new hires in the special administrative region that will grow its futures and options offering
BoA’s Gotelli joins Wells Fargo
SAN FRANCISCO – Wells Fargo has hired Bob Gotelli as head of global sales for corporate foreign exchange in San Francisco.
Reuters’ RTFX offers algo strategies
LONDON – Thomson Reuters is teaming up with Credit Suisse to introduce algorithmic trading strategies on the Reuters Trading for Foreign Exchange (RTFX) product next month.
Corporates wary of forex e-trading
NEW YORK – Corporates have been avoiding the use of electronic platforms in the execution of their foreign exchange trades, with most showing a preference for traditional voice trading.
Death by association
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…
WallStreet FX upgrade ups processing speed to 72 trades a second
NEW YORK – New York-based trading technology vendor Wall Street Systems has upgraded its trade-processing system Wallstreet FX to make it faster, it said last week (May 19)
CLS live with Israeli shekel and Mexican peso
LONDON & NEW YORK – CLS Bank is today (May 26) launching settlement of Israeli shekel and Mexican peso foreign exchage trades in a move that expands its footprint in the emerging market currencies.
More work needed on settlement risk
BASEL - Central banks are calling for more action to eliminate foreign exchange settlement risk, despite significant progress over recent years.
Why you should know your customers
If market rumours are anything to go by, Currenex, Fixi and an FX prime broker could be locked in bitter recriminations after an algorithmic trading client of London-based investment house Fixi blew up last month.
China's FX derivatives protocols 'must be clarified', say speakers
BEIJING - China's FX derivatives market must find a way to clarify differences and overlaps between the country's two major protocols on entering into derivatives transactions, said industry observers.