Infrastructure
Extending forex market reach
There is great scope for further integration between FX and interest rate swap markets, says Philip Whitehurst of independent developer MID Analytics in London
Banks still dominate market, report finds
BOSTON – Electronic trading may be expanding, but increased automation is failing to push major dealing banks from a dominant position in the FX market, according to a report released last week.
BarCap adds to Barx platform
LONDON – Barclays Capital has extended its suite of FX algorithmic trading services to include PowerFill Orders over its Barx platform.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
Lehman Brothers expands e-FX capabilities
LONDON – Lehman Brothers is expanding its e-commerce capabilities, as part of the continued expansion of the bank's forex business.
Sterling breaches $2 barrier for first time in 15 years
LONDON – Only five banks predicted correctly that sterling would breach $2.00 in mid-April and be capped below $2.02, according to FX Week 's currency forecasts.
Cantor Fitzgerald rejects rival bid for eSpeed
LONDON – A takeover bid for electronic trading network eSpeed was rejected by majority owner Cantor Fitzgerald last week.
Marex hooks up with Accelor
LONDON – Independent brokerage Marex Financial has established connectivity to Accelor, FXall's new electronic communications network, enabling clients to trade over the platform.
Calyon deploys global electronic interest rate derivatives platform
PARIS – Calyon is in the process of deploying an electronic interest rate derivatives (IRD) distribution and trading platform globally.
Forex tech spend set to rise 65% in 2010
BOSTON – Expenditure on technologies to support advanced trading strategies for FX trading in North America is expected to rise by around 65% over the next three years, as firms struggle to keep pace with the demands of low-latency trading, according to…
Saab chooses SuperD to enhance pension funds
STOCKHOLM – Swedish defence contractor Saab is using interest rate derivatives data from SuperDerivatives to enhance the performance of its employee pension funds.
The need for speed in algorithmic trading
LONDON – By 2017, the 10 top banks will manage 80% of all capital markets by revenue, according to Ralph Silva, senior analyst from Tower Group.
Retail FX platform attracts $100 million from PE firm
SADDLE RIVER, NEW JERSEY – Online trading platform FX Solutions has received more than $100 million from Francisco Partners, a technology-focused private equity investment firm.
Traiana daily volumes exceed $120 billion
LONDON – Average daily FX volumes over the Traiana Harmony network have exceeded $120 billion this year.
Preparing for a decline in cable
WHAT STRATEGY SHOULD BE ADOPTED AHEAD OF STERLING'S FALL AGAINST THE US DOLLAR? BEN TYLER , ASSOCIATE DIRECTOR, STRUCTURED FX AT LLOYDS TSB CORPORATE MARKETS IN LONDON INVESTIGATES
Panel findings highlight evolving role of buy-side
LONDON – The rise of algorithmic trading indicates that the traditional distinction between the buy- and sell-side is fading, according to a panel discussion held in London last week.
SmartStream launches TLM Trade Process Management
LONDON & BOSTON – London-based technology vendor SmartStream Technologies last week released a system that automates the transaction lifecycle from execution to settlement.
CME widens footprint and connectivity
CHICAGO – The Chicago Mercantile Exchange (CME) has outlined plans to broaden its global FX footprint and improve international connectivity.
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
HDFC Bank chooses Misys for rates derivatives
MUMBAI – HDFC Bank in India will adopt Misys Summit to process interest rate and currency derivatives. The system is scheduled to go live at the end of this year. HDFC and UK technology provider Misys are also in discussion to use the system for equity…
When opportunity comes a-knockin'
In the past few weeks, FX Week has looked at opportunities the retail forex market presents for banks.
Wall Street Systems realigns technology profile
NEW YORK & LONDON – Technology vendor Wall Street Systems has repositioned its products in an attempt to target banks in addition to corporates.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.