News
Reuters releases new latency monitor
NEW YORK - Reuters has launched Reuters Latency Monitor (RLM), based on technology from New York-based data technology vendor Trading Metrics, to help clients determine the speed of market data delivery over the Reuters Market Data System (RMDS) data…
Merrill Lynch reshuffles EMEA FICC
LONDON & NEW YORK - Merrill Lynch named David Gu sole head of Europe, Middle East and Africa fixed-income currencies and commodities (EMEA FICC) in London last week, after the resignation of co-head Dimitrios Psyllidis.
BNP names global options chief
LONDON & SINGAPORE - Simon Nursey has been appointed as BNP Paribas's global head of foreign exchange options trading, effective last Monday (March 3).
Tradebook FX moves forwards
NEW YORK - Bloomberg's ECN offering, Bloomberg Tradebook FX, introduced forwards trading at the start of March.
Eurobase Siena launches liquidity aggregation tool
LONDON - Eurobase Banking Solutions will offer a liquidity aggregation module later this month, in response to customer demand.
EBS's February volumes eclipse 2007 levels
Last month's average daily volume of spot FX traded on Icap's electronic spot broking platform EBS Spot increased 34% on February 2007, to $217.2 billion. The interdealer broker reported average daily spot FX trading was also up 32% for the year ending…
Central bank intervention remains unlikely
LONDON, FRANKFURT & NEW YORK - Unless chaos reigns, analysts deem central bank intervention in the currency markets unlikely.
White label growth sees Saxo shine
COPENHAGEN - Record growth in its white-labelling business has helped Saxo Bank to a 78% rise in profits for the year, to €49 million before tax.
StanChart shakes up Asia FX management
SINGAPORE & MANILA - Standard Chartered has made senior appointments in Manila and Singapore in commodities, foreign exchange and interest rates.
StanChart gets a FIX
Standard Chartered last week announced that it has developed a FIX application programming interface (API) to trade over its single-bank platform.
Cfets announces top FX performers for 2007 in China
SHANGHAI - Bank of Montreal (BMO) won a clutch of prizes at the China Foreign Exchange Trading System (Cfets) awards for the foreign exchange industry last Wednesday.
Bank of Thailand lifts capital controls
BANGKOK - The Bank of Thailand is today (March 3) lifting controversial capital controls aimed at curbing inflows of hot money and a surging baht, 15 months after introducing the rules.
New options classes for latest Fenics release
LONDON - Seven new option classes are being added to the latest version of GFI Group's Fenics, an FX options pricing, risk management and trading tool.
Bailey named Newedge's deputy global head of FX
NEW YORK & LONDON - Michael Bailey, head of European FX for institutional brokerage Newedge in London, has been given the additional role of deputy global head of FX.
Citi and Wegelin team up to launch new forex portfolio
LONDON & ST GALLEN - Citi and Swiss private bank Wegelin Asset Management launched the Citi Wegelin Active Currencies portfolio last Tuesday (February 26), an investable portfolio based on six systematic FX strategies.
South Korea interbank FX volumes shoot up
SEOUL - Average daily volumes in South Korea's interbank FX market rose to $19.71 billion in 2007, up from $11.8 billion a year earlier, according to official statistics released last week.
ABN targets retail investors
DUBAI - ABN Amro has launched the Bric Infrastructure, Water and FX capital-protected note, targeted at retail investors globally.
MF Global loses $141.5m from rogue wheat trade
NEW YORK - Interdealer broker MF Global has lost $141.5 million after it was forced to cover trading losses made by one of its employees.
EBS Spot aims for NDF supremacy
LONDON - The battle to gain market share in electronic non-deliverable forwards (NDFs) broking is gathering pace, with the launch of seven Asian NDFs and Russian rouble trading on electronic spot broking system EBS Spot today (March 3).
Forex delivers for StanChart and RBS
LONDON - Income from FX helped Standard Chartered boost profits to a record high, as British banks announced full-year results tempered by exposure to subprime investments.
Thomson gets go-ahead for purchase of Reuters
LONDON & STAMFORD, CT - Thomson Corporation received approval from the European Commission, US Department of Justice and Canadian Competition Bureau to acquire Reuters last Tuesday (February 19).