Infrastructure
FX Connect hikes prices pre-upgrade
BOSTON – Multi-bank portal FX Connect has put up charges by 25–40% across the board, and is to implement a wide-scale upgrade of its system.
New name and chief executive for Tullet
NEW YORK – Tullett Financial has changed its name following the merger with Prebon, and named G Andrea Danese as chief executive. The company will now be known as Tullett Prebon Information.
CLS Bank settles new record in daily volume
LONDON AND NEW YORK – CLS Bank International (CLS Bank), the global settlement firm, set a new record for the volume of payment instructions settled in one day.
Hedge fund interest in forex continues
London – High profile banks and investment houses are launching currency fund of hedge funds (FOHFs), showing the continuing interest as FX as an asset class.
Italy most likely to pull out of euro
GLOBAL – Of the 12 member nations currently making up the euro, Italy is most likely to dump the currency, according to a survey conducted by FX Week .
NAB currency trader jailed
MELBOURNE – Luke Duffy, former head of the National Australia Bank’s (NAB) foreign currency options desk, has been sentenced to 29 months’ imprisonment for his part in the bank’s rogue trading scandal unearthed last year.
CLS bags world’s largest pension fund
AMSTERDAM – The world’s largest pension fund – the e170 billion Stichting Pensioenfonds ABP – has gone live on CLS as a third party of ABN Amro.
CLS touts for more fund business
SAN FRANCISCO – CLS Bank is to focus on driving up business from the investor community this year, as it seeks to expand globally.
‘One size fits all’ is not appropriate
Sabrina Jacobs, FX strategist, capital markets, at Dresdner Kleinwort Wasserstein, says Asian currencies need to be looked at on an individual basis
Romania takes Delta Dealing System
Bucharest – Dublin-based software vendor Delta Community has successfully entered the Romanian market.
‘No’ votes lead to record flows
LONDON – The ‘no’ votes on the EU constitutionreferendums last week led to unexpectedvolatility in the currency markets, and the highestvolumes ever seen on some platforms.
Benefiting from yuan revaluation
The Lloyds TSB Financial Markets team suggests how to benefit if the Chinese yuan revalues and Asia follows suit
Sybase moves into forex
DUBLIN, CALIFORNIA – Software vendor Sybase is to open its risk analytics platform to FX data. The vendor will now process risk and trade data for high-volume FX data feeds.
UK least likely to adopt euro
GLOBAL – Of the European Union members yet to join the euro, the UK is the least likely to join the single currency, according to a survey of FX Week readers.
FX to the fore at settlements conference
SAN FRANCISCO – Settlements industry body ISITC -IOA is to focus on FX for its summer 2005 conference to be held in San Francisco.
RCP to show off STP prowess
LONDON – RCP Consultants will be demonstrating its straight-through processing via its flagship product, Deal Web, launched at the ACI in London last year. This service allows all FX conversations and tickets to be available electronically within a bank…
Citic chooses Sophis
HONG KONG – Citic Capital, the international investment banking arm of China International Trust and Investment Corporation (Citic) Group, has selected Risque as its core platform for risk management and proprietary trading for processing in FX,…
SG takes up prime brokerage challenge
NEW YORK – SG Corporate & Investment Banking (SGCIB) has fully entered the prime brokerage market with the launch of SG Prime.
GFI launches Fenics dealFX
NEW YORK – GFI Group is to demo Fenics dealFX, a foreign exchange options trading system that it launches this week at the congress.
Q&A: John Nelson
To mark 15 years of FX Week , we carry a Q&A with our first subscriber, look at three major pairs opposite and run three of the key stories shaping the industry
Reuters showcasing latest additions
STOCKHOLM – Reuters will be exhibiting its expanded electronic trading portfolio, including the impending Reuters trading for foreign exchange, at the congress.
