News
360T offers multi-leg swaps
FRANKFURT - Multi-dealer trading vendor 360 Treasury Systems (360T) is set to introduce multi-leg foreign exchange swap trading on its cross-product trading platform, 360T TEX, in response to client demand.
Króna in chaos during Iceland's meltdown
REYKJAVIK - Confusion reigned in Icelandic króna trading last week, as the country's central bank, Sedlabanki, abandoned its peg to a basket of nine currencies a day after it was effected.
Decline continues on Parker FX
STAMFORD, CT - The Parker FX Index made a loss of 0.73% in August, falling further from a negative 0.11% the previous month, as the sharp appreciation in the US dollar caught out 60% of managers.
FXMPG tackles FX practices
BRUSSELS - The Foreign Exchange Market Practice Group (FXMPG) plans to hold its first meeting in January, to begin establishing global market practice for foreign exchange activities.
Baxter enters algo execution
NEW YORK - Baxter Financial Services will add algorithmic execution features over its electronic communications network (ECN) Baxter FX by the end of the year.
$80bn bail-out likely in Asia
SEOUL - A group of Asian nations might be moving closer to creating a pool of rescue funds worth more than $80 billion, in a bid to resolve the short-term liquidity shortages plaguing the region, say analysts.
Korea's KEB begins trading on EBS
SEOUL - Interdealer broker Icap is deepening its footprint in the emerging markets, with Korea Exchange Bank (KEB) now using its spot-broking system, EBS.
Barclays integrates Lehman FX in US
NEW YORK - Barclays Capital announced last Tuesday (October 7) that it has fully integrated Lehman Brothers' US foreign exchange and commodities businesses under the Barclays Capital name.
RealStream Margin revamped
LONDON - Cognotec is set to roll out the latest version of its web-based margin trading system, RealStream Margin 3.0, in response to market demand for efficiency and enhanced risk management products.
ICE launches FX futures
ATLANTA - The Intercontinental-Exchange (ICE) is launching ICE Millions, a suite of foreign exchange futures contracts, on November 6, in the latest move by an exchange to capitalise on fears over counterparty credit risk.
Icap expands European coverage with Equinix
LONDON - Icap has extended a deal with datacenter provider Equinix to give European clients access to low-latency data from Icap's EBS spot foreign exchange trading platform.
FXMarketSpace abandoned
CHICAGO & LONDON - The Chicago Mercantile Exchange and Thomson Reuters have confirmed their joint venture platform FXMarketSpace will be shut down, ending speculation over the system's future.
CME outsources E-quotes data app to CVS
CHICAGO - CME Group has rolled out a new version of its web-based E-quotes data display application and wireless add-on - built and hosted by technology partner Computer Voice Systems (CVS) -which incorporates data from acquisitions the Chicago Board of…
Korea delays liberalisation
SEOUL - South Korea's Ministry of Strategy and Finance is considering delaying the liberalisation of the country's foreign exchange market, due to current global market volatility.
Senior management shake-up at SG
PARIS - Société Générale has made several senior appointments as part of a reshuffle of its senior management.
Icap spot forex surges 60% after Lehman Brothers collapses
LONDON - Spot foreign exchange volumes at Icap skyrocketed by more than 60% on September 15 and 16, days after the collapse of Lehman Brothers.
Another FX trader fined
STOCKHOLM - Sweden's financial regulator has imposed a maximum penalty on Forex Bank for insufficient money laundering controls, signalling a global clampdown by regulators on risk management failings at retail foreign exchange institutions.
OMS vendors tackle multi-asset risk
LONDON - Order management system (OMS) vendors are enhancing their multi-asset pre-trade analytics to address the growing trend among financial institutions of broadening the asset classes and geographies in which they trade.
Iosco turns spotlight on commodities
WASHINGTON, DC - The US Commodity Futures Trading Commission (CFTC) and the UK Financial Services Authority (FSA) are to lead an international regulators' group overseeing the commodity markets.
Sentimental value
Naomi Fink, Japan strategist in global markets sales and trading at the Bank of Tokyo Mitsubishi UFJ in Tokyo, assesses the slump in corporate sentiment in Japan, and what this bodes for the country's economic growth
Currency strategies add value in September
LONDON - Currency managers employing value strategies are the most likely to have been rewarded by strong profits over the past 12 months, according to research by the Royal Bank of Scotland (RBS).
Australia adjusts currency basket
SYDNEY - The Reserve Bank of Australia (RBA) has rebalanced its trade-weighted basket of currencies, allocating the Chinese renminbi a greater weighting than yen for the first time.
ETP boom fuels concern over counterparty risk
GLOBAL - Issuance of currency-linked exchange-traded products (ETPs) has soared in the past year, but concerns are emerging over the counterparty risks inherent in these products.