News
Wall Street Systems realigns technology profile
NEW YORK & LONDON – Technology vendor Wall Street Systems has repositioned its products in an attempt to target banks in addition to corporates.
WestLB relocates Asian forex hub to Sydney
SYDNEY & Düsseldorf – WestLB is relocating the Asian hub for its 24-hour FX trading business from Singapore to Sydney.
RBS builds macro team
LONDON – The Royal Bank of Scotland Global Banking and Markets has established a new macro proprietary trading team in London.
FXMarketSpace build-up continues with eight hires
LONDON, NEW YORK & CHICAGO – FXMarketSpace, the Reuters and Chicago Mercantile Exchange (CME) joint-venture platform, has made eight new hires ahead of launch at the end of this quarter.
WestLB plugs into Gissing Software
LONDON – German bank WestLB is using technology from Gissing Software to distribute foreign exchange and money market prices across its offices globally.
GFI gains Fenics FX client in Singapore
SINGAPORE – A major Singapore bank, thought to be DBS, is deploying foreign exchange option pricing and risk management software, Fenics FX, from interdealer broker GFI.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.
Bullish results for US investment banks
LONDON & NEW YORK – US investment banks have continued to report year-on-year growth, in first quarter results released last week.
Dresdner recruits in New York
NEW YORK – Dresdner Kleinwort has hired Ira Koyner as head of FX options in New York.
Oanda adds five exotic currency pairs
TORONTO – Online FX trading company Oanda has added five new currency pairs to its trading platform FXTrade.
BarCap gains and loses in EM
LONDON – Barclays Capital has made a gain and a loss on its emerging markets options desk in London, indicating the competitive landscape for emerging markets traders.
ICE pilots Nybot index
ATLANTA – The Intercontinental Exchange (ICE) began piloting the New York Board of Trade (Nybot) US dollar index and FX futures products last Friday (March 16), with a full launch due in April.
Saxo Bank opens virtual head office
CYBERSPACE – Saxo Bank has opened a virtual headquarters in social networking site Second Life.
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
State Street acquires Currenex
BOSTON & NEW YORK – State Street has completed the acquisition of multibank platform and technology vendor Currenex for $564 million.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
AIG launches emerging markets FX indexes
NEW YORK – AIG Financial Products last week launched emerging-markets (EM) foreign exchange indexes, to leverage the continued investor interest in the area.
EBS to expand EM capability
SINGAPORE – Spot broker EBS plans to expand its emerging markets capabilities with a number of new currencies set for launch in the coming months.
Gain Capital rolls out web-based platform
BEDMINSTER, NEW JERSEY – Gain Capital has launched a Windows-based margin trading platform for institutional and individual investors.
CFTC stings Pioneer for record-keeping lapses
WASHINGTON, DC – The US Commodity Futures Trading Commission has fined futures commission merchant Pioneer Futures $25,000 in civil penalties, for failing to keep up-to-date records.
SuperDerivatives launches derivatives trading platform for hedge funds
LONDON – Technology firm Super-Derivatives has launched an online multi-asset derivatives trading platform, designed for hedge funds.
BarCap loses three in Asia
HONG KONG – Barclays Capital has lost three members of its foreign exchange team in Asia, market sources told FX Week .
Italy's Banca Akros adopts Corona CLS
MILAN – Banca Akros, the investment-banking arm of Italy's Banca Popolare di Milano group, has implemented SmartStream Technologies' Corona CLS to manage its confirmation matching process.