Infrastructure
Eurobase launches four electronic trading modules
LONDON – Vendor Eurobase Banking Solutions has launched four e-trading modules aimed at providing banks with tools to maximise revenue generation across FX and other asset classes.
Interbank market is the one to watch
The move by Lava to get into the interdealer broker space is a bold one that could pay handsome dividends for the Citigroup-owned business.
Lava moves into interbank FX space
NEW YORK – Citigroup subsidiary, Lava Trading has confirmed plans to launch a new interbank forex trading system this year. The move makes it the first of a number of platforms rumoured to be taking the plunge into the space.
A changing interbank landscape
The decision by the world's largest interdealer broker, Icap, to acquire spot FX broker EBS bears significant implications for the current landscape of the FX industry.
Standard Bank builds in sales
LONDON & HONG KONG – Standard Bank is building its sales capabilities in London and Asia, as it looks to expand coverage to institutional and corporate clients.
Strong Q1 forex results from US banks
NEW YORK – US banks continued the trend of strong first quarter results already reported, with sharp rises in foreign exchange-related profits.
CLS Bank reports 10% rise in volume in March
LONDON – CLS Bank recorded a 10% rise in average daily payment instructions settled on its system in March.
State Street to provide forex workflow solution for MLIM
LONDON – State Street is providing a foreign exchange execution management workflow solution through its Global Link network for Merrill Lynch Investment Managers (MLIM) in London.
FXall sees increase in volumes
NEW YORK – Trading platform FXall announced record trading volumes of $825 billion in March, a 53% increase on the same period last year.
Union Bank of India to use Reuters FX portal
MUMBAI – Union Bank of India (UBI) has selected Reuters, the global information company, to implement an online FX trading portal.
Russia selects Trema
MOSCOW – The Central Bank of Russia is implementing treasury management software from vendor Trema to support its reserve management operations.
There are no options benchmarks
The following is a case study of option volumes with delayed delivery, by Nasir Afaf, global head FX options, Commerzbank Corporates & Markets in London
Fund launch from Russell
DUBLIN – Russell Investment Group has launched a multi-manager currency fund to offer investors a way of diversifying their portfolios.
Knight Capital completes HotspotFXi acquisition
JERSEY CITY, NJ – Knight Capital Group last week completed the acquisition of Hotspot FX in an all-cash deal for $77.5 million.
Defrosting the myths
The risk of an Icelandic crisis and its impact on other high-yielding currencies has been strongly exaggerated, says Beat Siegenthaler, senior strategist at TD Securities in London
Reuters to calculate official spot rate
HONG KONG – Reuters is to be the official exclusive calculator and distributor of the benchmark spot US dollar/Hong Kong dollar fixing rate. This new official spot USD/HKD fixing is owned and administrated by Treasury Markets Association (TMA) in Hong…
Second NAB trader jailed
MELBOURNE – Gianni Gray, former currency options trader at National Australia Bank (NAB), has been sentenced to 16 months imprisonment for his part in the bank's rogue trading scandal discovered in 2004.
DZ deploys Cognotec's AutoDeal+
LONDON & FRANKFURT – Germany's DZ Bank has gone live with vendor Cognotec's AutoDeal+ solution for its new automated online FX trading service.
Marex Financial taps Hotspot FX
LONDON & WATCHUNG, NJ – Independent brokerage, Marex Financial, has signed its fourth deal with an FX platform in recent weeks.
FNX boosts back-office module
PHILADELPHIA – Vendor FNX Solutions has upgraded its back-office module for FX and other asset classes.
Algo trading to drive CLS business
LONDON – Algorithmic trading will bring in a significant amount of transaction business to CLS, according to the settlement system's chief executive, Rob Close.
Currency trading for DGCX
DUBAI – The Dubai Gold and Commodities Exchange (DGCX) is set to launch currency futures trading in coming months – the first such products to be made available in the Middle East.
Currenex introduces staged order management tool
LONDON – Currenex has added a staged order management feature, in response to client demand for a large block trading tool.
Trading FX implied volatility
How frequently does one need to hedge to effectively trade implied volatility? Duncan Farnsworth , head of risk analytics in the currency structuring group at the Royal Bank of Scotland in London, offers a solution