Congress bites

The Chicago Mercantile Exchange (CME) unveiled its new E-quivalents futures product at the Kuala Lumpur FX congress. The product demonstrates futures contracts in a range of currency pairs in the spot price equivalent, and is now being rolled out. "It allows people to see in a user-friendly fashion what a futures contract looks like," said Richard Sears, managing director of FX at the CME in Chicago.

The new product is one of a range of upgrades to the CME’s suite of market data products. It will add the top five bids and offers for all e-traded contracts in December. At the same time it is adding 10 years of end-of-day data to its online historical data service, E-History.

WSS focuses on third-party CLS

New York-based trading technology vendor Wall Street Systems (WSS) is focusing on completing the first implementation of its third-party Continuous Linked Settlement (CLS) technology. Once live in Q1 next year it will enable the (un-named) bank to provide settlement in forex trades via the New York-based CLS system to its third-party client banks. CLS allowed its shareholder banks to link their client banks to CLS on November 4 (FX Week, November 4). WSS also makes technology to automate CLS settlement for CLS shareholder banks, and has nine clients using that technology.

Netherlands signs for ACI Forum

The Netherlands branch of ACI -- The Financial Markets Association signed up to use the ACI Global Forum at the meeting in Kuala Lumpur.

The forum -- a market data and chat platform managed by UK market analysis firm Pronet Analytics on behalf of ACI, now has 17 participating countries and 750 users, said Shane Smith, chairman of the forum.

The forum, which launched in July, has live market commentary, charts and data and the opportunity to discuss this data online using a real-time messaging system.

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