Infrastructure
UBS move to Zurich starts this week
ZURICH & LONDON – UBS starts moving its trading operation to Zurich this week in a process that will continue through to August ( FX Week , May 1).
Saxo to open in Spain
MARBELLA – Danish firm Saxo Bank has continued its global expansion in 2006 with the opening of a representative office in Marbella, Spain.
China approves cross-currency master agreements
BEIJING & HONG KONG – A master agreement for renminbi cross-currency forwards and swaps drawn up by China's foreign exchange regulator was approved by the State Administration of Foreign Exchange earlier this month.
Middle East violence boosts US dollar
Conflict in the Middle East contributed to a surge in the dollar and a big drop in the value of Asian currencies last week.
FXall sells $77.5 million stake to TCV FXall
NEW YORK – FXall has confirmed plans to sell a minority stake worth $77.5 million to private equity firm Technology Crossover Ventures (TCV).
FXall sells $77.5 million stake to TCV FXall
NEW YORK – FXall has confirmed plans to sell a minority stake worth $77.5 million to private equity firm Technology Crossover Ventures (TCV).
Option Computers chooses BT Radianz
LONDON – UK software and trading technology vendor Option Computers has signed up to use the BT Radianz shared market infrastructure to offer access to a hosted version of its flagship product, the DealHub application suite.
One answer to the structural versus cyclical debate
Geoff Kendrick, senior currency strategist at Westpac in London, has developed a systematic way to generate alpha from the structural versus cyclical debate
Difference of opinion over future of exchange
NEW YORK – Opinions remain divided on whether the market has room for an FX exchange, according to a panel on the subject at the FX Week USA 2006 conference.
Latency concern grows over FX algos
NEW YORK – Data latency is an emerging concern for trading participants, as algorithmic trading becomes more widely used in FX markets.
Data extraction platform from Reuters
NEW YORK – Reuters has launched Reuters DataScope Select Version 1.2, a data extraction platform providing global pricing, validated terms and conditions, historical data content and cross-reference data for FX and other asset classes.
Reuters deal for Indian bank
DELHI – The Union Bank of India (UBI) has become the first public sector bank in India to become a market maker on Reuters Trading for Foreign Exchange (RTFX) and Reuters Trading for Bullion.
The Chinese way
A lot has happened in China since its accession to the WTO in 2001. Arnie Papp, general manager for Asia-Pacific at Calypso, explains the effect the changes have had on FX in the region
Integral completes forex trading offering
MOUNTAIN VIEW, CALIFORNIA – Integral, the US technology vendor, has launched FX Inside Plus to streamline and automate the entire foreign exchange trading process, from origination to distribution.
Electronic FX talent must be rewarded
This week sees the e-FX awards handed out to the best and brightest in the industry. I can't give a sneak preview of the winners as they will be revealed on Tuesday and covered in next week's issue. However, I'd like to share some observations that the…
How to position in emerging Asia?
Ben Simpfendorfer, Hong Kong-based Asian strategist for the Royal Bank of Scotland, looks at how to gain exposure to emerging markets amid fears that they will sell off
Eurobase signs software deal with StanChart
LONDON – Eurobase Banking Solutions and Standard Chartered Bank have signed a deal where the latter uses Siena XML Gateway to manage FX price-streaming to additional e-FX trading portals.
Ex-NAB traders jailed
MELBOURNE – The final chapter of the National Australia Bank (NAB) trading scandal unearthed in 2004 closed last week, with the last two forex options traders jailed.
A brave new world for foreign exchange?
Talk of a new platform being launched by Lava and the CME/Reuters joint venture makes it feel as if the FX market is about to experience a revolution similar to that which it saw at the start of the millenium.
Asia Pacific: RBS launches US dollar swap trading in Asia via Bloomberg
HONG KONG – The Royal Bank of Scotland (RBS) launched US dollar swap trading last week during Asia business hours on Bloomberg.
CLS Bank settlement volumes rise in May
NEW YORK – CLS Bank International (CLS Bank) has reported a further rise in settlement volumes.
Harnessing e-FX benefits
FXall's Mark Warms, general manager, Europe, says treasuries should consolidate their trading functions.Platforms can help them do this, but flexibility is needed
Creating an algorithmic safeguard
Stuart Crooks, vice-president, sales for FlexFX in London, points to algorithmic trading as a way to keep up with the increasing speed at which the market moves
New algo trading tool from tech vendor trio
NEW YORK – Technology vendors Portware, Random Walk Computing and IBM have teamed up to launch Portware on Power, a new system for algorithmic trading.