News
Currenex signs two STP deals
LONDON – Currenex, the FX platform and technology vendor, has signed two straight-through processing (STP) deals with technology vendors BT Radianz and Wall Street Systems (WSS).
SuperD hires for e-trading capability
LONDON – SuperDerivatives is developing online trading capabilities for its options pricing and risk management software, and has made a senior hire to lead the effort.
Wan resurfaces at WestLB
HONG KONG – Dennis Wan, former head of China sales and head of FX sales for Asia at JP Morgan, has resurfaced at WestLB.
CLS in MarketSpace talks
NEW YORK – CLS is in discussions with Reuters and CME about the clearing element of the MarketSpace initiative, as the settlement system seeks to ensure its long-term sustainability.
GFI rolls out pricing tool for structured products
NEW YORK – Interdealer broker, GFI has released a new version of its pricing and risk management software, incorporating a structuring and pricing tool for structured products.
Lava spreads to Russia
MOSCOW – Lava Trading will introduce trading in the Russian rouble on its FX trading platform, Lava FX, it announced at the ACI Russia International FX seminar in Moscow last week.
FXC issues guidance paper on autodealing
NEW YORK – The Foreign Exchange Committee (FXC) has published a paper on autodealing, covering market impact and best-practice recommendations for dealers and prime brokers.
CME to offer Renminbi
HONG KONG – The Chicago Mercantile Exchange (CME) announced last week that it is set to list futures contracts and options on futures on the Chinese renminbi against the US dollar, the euro and the yen.
CLS in MarketSpace talks
NEW YORK – CLS is in discussions with Reuters and CME about the clearing element of the MarketSpace initiative, as the settlement system seeks to ensure its long-term sustainability.
Central banks to diversify
LONDON – The world's central banks are increasingly looking at asset management as a diversifier for their historic hoarding of US dollars, according to a report from Merrill Lynch.
SunGard launches liquidity management solution
LONDON – SunGard last week launched a liquidity management solution to help corporates and banks make funding decisions based on their cash positions.
Dealers archive via SwapsWire
LONDON – Three dealers – ABN Amro, JP Morgan and UBS – have uploaded a sample of historical swaps trading data to SwapsWire in London as part of a pilot project for resolving mismatches.
Orc adds FX coverage
STOCKHOLM – Swedish technology vendor Orc Software is expanding its multi-asset trading capabilities to the forex market by providing direct access to FXall and Hotspot FXi.
DataSynapse partners Misys
Misys Banking Systems, a banking software provider, is expanding its partnership with DataSynapse to grid-enable the Misys treasury and capital markets solution, Misys Summit FT, with DataSynapse's GridServer.
GFT opens London office
LONDON – GFT Global Markets, a new division of US firm Global Futures & Forex, has opened a London office offering spot FX, spread betting and contracts for differences.
Turkcell rolls out SD-FX
Turkish mobile telecoms company Turkcell has licensed SD-FX, an FX pricing system from SuperDerivatives.
Reserve claim made for rouble
MOSCOW – The rouble could one day be the world's major reserve currency, according to Dmitry Medvedev, Russia's first deputy prime minister. On the same day as he made the claim, the rouble officially acquired its new symbol.
Yen undervalued, survey finds
LONDON – The majority of respondents to a global fund managers' survey by Merrill Lynch believe the yen to be undervalued.
Korea to upgrade forex system
The Financial Supervisory Service (FSS) in South Korea will launch its upgraded Foreign Exchange Monitoring System on July 1.
Investment banks post record Q2 revenues
NEW YORK – US investment banks are continuing a bumper year, with second-quarter results for fixed-income businesses exceeding previous records.
Growth in derivatives trading speeds up, reports BIS
BASEL – Trading on international derivatives exchanges has continued to pick up pace, according to the latest Bank for International Settlements (BIS) Quarterly Review, which was released last week.
Big Four battle for market share
SYDNEY – The 'Big Four' Australian banks are battling to retain FX market share in the face of stiff competition from specialist FX providers, according to research released last week.