Infrastructure
Participating in a rangy/bullish spot
How can clients maximise potential gains from favourable spot moves while minimising the downside risk? Eric Ohayon of Bank of America in London investigates
BIS report notes low volatility
LONDON – FX markets were characterised by high levels of turnover and historically low volatility in 2006, according to the Bank for International Settlements' (BIS) 77th annual report, released today (June 25).
CLS Bank posts daily record for payment instructions
NEW YORK – Last Wednesday (June 20), CLS Bank International posted a new record for the value of payment instructions settled in one day. The bank settled 604,860 payment instructions with a gross value of $7.28 trillion, beating the previous record of …
BNP Paribas boosts sales teams in London and Paris
PARIS & LONDON – BNP Paribas has added to its London-based FX hedge fund sales team, and strengthened its Paris-based FX sales team to cater for central banks and official institutions.
BNP Paribas multi-asset trading system to go live this year
LONDON – BNP Paribas plans to go live with a new multi-asset trading system in the third quarter of this year, marking the move of another bank away from silo-based trading and sales.
Marex hires two in push to expand e-business coverage
LONDON – Independent brokerage Marex Financial has made two sales hires at its FX desk in London, as part of plans to expand coverage of e-business and hedge fund sales.
E-trading comes in many flavours
The future of electronic trading is mapped out by Nick Dyne , chief executive of London-based data management and STP systems vendor Logicscope
FXall makes 22 new hires globally
NEW YORK & SINGAPORE – Trading platform FXall has made 22 hires in sales, customer services, technology and regional management groups in New York, London, Singapore, Boston and Tokyo.
BIS report highlights trade growth
BASEL – Trading in currency, interest-rate and equity products continues to grow, according to the latest Bank for International Settlements (BIS) quarterly review released last Monday (June 11).
Progress adds algorithmic functionality to Apama
BEDFORD, MASSACHUSETTS – Software vendor Progress Software is today (June 18) launching an FX package that allows FX traders to run algorithms across multiple liquidity sources, accessing best price and market depth.
An unseasonal game of musical chairs
As we enter the summer months the unseasonal slew of hiring and restructuring looks unlikely to abate. Considering these functions are usually done and dusted by May, it is curious that a number of banks are just trying to begin new ideas at this point…
GSAM jumps on Hotspot FX bandwagon
JERSEY CITY – Goldman Sachs Asset Management (GSAM) is understood to have signed on for electronic communication network (ECN) Hotspot FX, sources have told FX Week .
FX and DX: volatility events and the bid-ask spread
Charles Wright suggests a rational means for adjusting the bid-ask spread to compensate for the uncertainty associated with routine event-driven conditions
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
PIA launches independent research service
A team of three former Dresdner Kleinwort bankers last week launched Price Information Advantage (PIA), an independent provider of technical research platform.
Reuters upgrades RTFX service
LONDON – Reuters has gone live with a revamped version of Reuters Trading for Foreign Exchange (RTFX), its bank-to-client FX trading service.
FXMarketSpace volumes continue to rise
LONDON – Average daily trading volumes on FXMarketSpace rose 54% in May, indicating steady growth over the platform, say analysts.
Canadian dollar reaches record highs
OTTAWA – The Canadian dollar rose to record highs last week, amid better than expected growth leading to anticipation of interest rate rises.
Mifid: the final countdown
Those that haven't firmly addressed their execution policy must take action, says Chris Pickles , chair of the directive's Joint Working Group in London
FXMS embarks on global push
LONDON, CHICAGO & NEW YORK – Eight new roles have been created at Reuters and CME joint venture FXMarketSpace (FXMS), to drive the platform's continued global expansion.
SwapsWire rolls out to South Korea
SEOUL – SwapsWire has gone live in South Korea. Interdealer brokers Tullett Prebon and BGC Capital Markets are now using the service to provide OTC trade confirmation and straight-through-processing (STP) services to dealing clients in the country.
Trading Places
HSBC, Joseph De Feo, Merril, Nixon, Citi, Bear Sterns, Credit Suisse, Calyon, RZB, WestLB, ANZ, CMC
Algorithmic trading:the race for better value
The rocketing popularity of algo trading is examined byMark Akass, chief technology officer of BT Global Financial Services