News
Saxo to open in Singapore
COPENHAGEN & SINGAPORE – Saxo Bank is opening an office in Singapore to serve its growing client base in the region.
Who's who on the exhibition floor?
FX Week gives a rundown of some of the top exhibitors at this year's event. Find out who's showcasing what, then see the box below for those all-important entertainment listings
Bloomberg continues FX boost
NEW YORK – Bloomberg is continuing to build up its forex capabilities with a new information product called FXIP (foreign exchange information platform).
EBS adds rand to spot trading
LONDON – Interdealer broker EBS has added the South African rand to its spot matching system in conjunction with South Africa's largest liquidity providing banks.
CLS cuts prices for low-value, high-freq trades
LONDON – CLS Bank has introduced a new pricing structure that sees charges slashed for settling low-value payment instructions, as it seeks to attract low-value high-frequency trading business.
Misys enhances treasury platform
LONDON – Software vendor Misys has updated its treasury platform to improve the rate of matching instructions on FX deals.
Another new high for EBS
NEW YORK – EBS recorded another record day on May 11 as market news led to a huge spike in trade.
Retail rollout for major banks
GLOBAL – A number of banks are launching retail FX offerings this year as they see growing opportunities for attracting flow from this market.
BarCap builds in Asia
SINGAPORE – Barclays Capital (BarCap) has continued its aggressive approach in Asia with the creation of a new head of trading role in Tokyo and four new appointments in Tokyo and Singapore.
Rouble convertible by July – Putin
MOSCOW – Russian president Vladimir Putin wants to make the Russian rouble a convertible currency by July 1 this year, he said last week.
FNX adds more liquidity sources
PHILADELPHIA – Technology vendor FNX Solutions is linking to five more liquidity providers to give customers a wider range of sources to which they can link their execution engines.
Nutland takes on larger role at Calyon
LONDON – French bank Calyon has named Steve Nutland as global head of trading, spot and options in London.
Retail rollout for major banks
GLOBAL – A number of banks are launching retail FX offerings this year as they see growing opportunities for attracting flow from this market.
April strong for forex
NEW YORK – April was a positive month for FX trading, with platforms EBS and FXall both breaking respective trading volumes.
Downward turn for Parker FX index in March
STAMFORD, CT – The Parker FX index was down 1.27% in March, with currency markets highlighted by a strong euro, a mixed US dollar and a weakening yen.
BNY signs Fundtech deal for corporates
NEW YORK – The Bank of New York (BNY) and vendor Fundtech have signed a deal enabling mid-sized banks to easily and affordably provide FX services to corporate clients.
European banks charge ahead in Q1
EUROPE – European banks have posted a sharp rise in trading revenues for the first quarter of this year, continuing a trend set by US rivals.
Philippine central bank and BoJ sign second bilateral swap deal
MANILA & TOKYO – The central bank of the Philippines (BSP) and the Bank of Japan (BoJ) have signed a second bilateral swap arrangement (BSA) under the Chiang Mai Initiative (CMI).
GFI sees Q1 profits soar
NEW YORK – Inter-dealer brokerage GFI Group last week revealed an increase of more than 50% in first-quarter revenues over the same period last year.
Systematic and technical managers gain in March
The best- and worst-performing managers in March were systematic, while technical managers occupied the lower and middle ground
RBC creates dual senior role
TORONTO & LONDON – Canadian bank RBC Capital Markets, has restructured its FX operations, implementing a new management hierarchy to reflect a more global focus.
Currenex takes algo plunge
NEW YORK – Currenex is moving into algorithmic trading with the launch of CX SmartOrder, a platform that enables customers to use a number of standard models or to create their own.