Infrastructure
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.
ICE pilots Nybot index
ATLANTA – The Intercontinental Exchange (ICE) began piloting the New York Board of Trade (Nybot) US dollar index and FX futures products last Friday (March 16), with a full launch due in April.
State Street acquires Currenex
BOSTON & NEW YORK – State Street has completed the acquisition of multibank platform and technology vendor Currenex for $564 million.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
Italy's Banca Akros adopts Corona CLS
MILAN – Banca Akros, the investment-banking arm of Italy's Banca Popolare di Milano group, has implemented SmartStream Technologies' Corona CLS to manage its confirmation matching process.
Erste Bank implements Calypso
VIENNA – Erste Bank has begun implementing a front- to back-office solution from San Francisco-based techno- logy vendor Calypso Technology for interest rates, foreign exchange and credit derivatives.
Trading platform volumes surge as stock markets plunge
LONDON - The sharp correction in stock markets around the world last week triggered the unwinding of the carry trade, bringing record trading volumes to foreign exchange platforms.
BarCap adds commodity-linked structured notes
LONDON - Barclays Capital has added commodity-linked structured notes trading to its Barx Investor Solutions platform.