News
RTFX signs BarCap and Deutsche Bank
HONG KONG – Reuters has signed up Barclays Capital and Deutsche Bank as liquidity providers on its Reuters Trading for Foreign Exchange (RTFX) platform, it announced at the Asian launch of the service last week.
Russell signs up with Lava
TACOMA, WASHINGTON – Asset manager Russell Investment Group is pushing ahead with the expansion of its FX trading capabilities by signing on to a second electronic currency network.
Currenex and Traiana build API
NEW YORK & CHICAGO – Online trading platform Currenex and technology vendor Traiana have established an application programming interface (API) between their platforms to automate and streamline order processing for prime brokers trading forex over…
Consolidation continues in FX
NEW YORK – A further sign of the consolidation of the foreign exchange industry emerged last week, with a survey revealing that just under half of North America’s spot FX market is held among a handful of dealers.
Reuters revenues up third successive quarter
LONDON – Global news and information provider Reuters has reported third-quarter revenues of £611 million, up 8% on the £566 million for the same period last year.
Global change at DrKW
LONDON & SINGAPORE – Dresdner Kleinwort Wasserstein’s (DrKW) global forex strategy team is undergoing a realignment.
PBoC and BI sign swap deal
BEIJING & JAKARTA – The People’s Bank of China (PBoC) and Bank Indonesia (BI) have signed a second bilateral swap agreement (BSA) worth up to $2 billion under the Chiang Mai Initiative (CMI).
CIBC reorg sparks departure
TORONTO – The Canadian Imperial Bank of Commerce (CIBC) has undergone an internal restructure in its foreign exchange team, which has resulted in one senior departure.
City salaries follow firm upward growth pattern
LONDON – Senior-level salaries in the City experienced an increase of 9.2% on the previous year, while average salaries have risen by 7%, according to research from recruitment firm Morgan McKinley.
GFI completes FX options desk restructuring in Asia
SINGAPORE – GFI has completed the reorganisation of its FX options desks in Asia, after hiring a five-strong FX options team from Tullett Prebon in July.
Vietnam opens its doors to Travelex
HANOI – Forex specialist Travelex has signed a deal with a Vietnamese bank to enable overseas nationals to remit money to relatives at home.
Fimat signs four traders from Cargill
NEW YORK AND LONDON – Fimat, the brokerage arm of SG CIB, has boosted its global foreign exchange trading team with four new hires from Cargill across both sides of the Atlantic, it has confirmed.
CLS to corner foreign exchange market
LONDON AND NEW YORK – More than 80% of member trades will be settled by CLS in two years, according to research released this week.
Reuters opens post-trade service
LONDON – Reuters this week moves into the post-trade market with the launch of Reuters Trade Notification System (RTNS).
Hotspot FXi signs major asset manager
TACOMA, WASHINGTON – Asset manager Russell Investment Group is to use FX market-place Hotspot FXi to reduce trading costs, offer clients trading anonymity and provide access to additional liquidity.
Strong Q2 for US FX
BOSTON & NEW YORK – Indications that the forex industry continues to boom emerged last week as two US banks posted strong FX results for Q3.
Barx adds cross-currency swaps
LONDON – Barclays Capital (BarCap) has added cross-currency basis swaps to its Barx via Bloomberg service, it has announced.
CoesFX cuts out middle man
PLAINVIEW, NEW YORK – Electronic currency network (ECN) COESfx has removed its trading desk to give users direct access to prices on the platform.
Travelex adds more in Asia
SINGAPORE – Travelex, the global FX specialist, has continued its global expansion, opening an enlarged trading floor in the Lion City, where it has doubled the number of traders.
Fraudulent FX sites uncovered
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has filed yet another action against a party participating in fraudulent forex activity.
Students tested on GFT FX platform
ADA, MICHIGAN – Some 160 undergraduate finance students are putting their financial knowledge to the test by using Global Forex Trading’s (GFT) DealBook FX 2 as their web-trading platform.
Shell takes over Deutsche Bank prime brokerage
NEW YORK – Deutsche bank has replaced Andrew Coyne, head of prime brokerage, with North American currency sales and trading head Jason Shell.