Tech and data
Sibos: market must clear processing bottleneck
VIENNA - During a panel discussion at last week's Sibos conference, CLS Bank, Credit Suisse, Traiana and Bloomberg agreed collective action was needed to avoid a serious processing bottleneck in the foreign exchange market.
UBS: an FX beacon in a sea of doubt
UBS practically swept the leader board in the currency category of FX Week sister publication Risk 's 2008 interdealer survey released last week.
The post-trade value chain
Nick Dyne, head of business development at post-trade technology vendor Logicscope in London, evaluates the prospect of a 'virtual' back office
Banks scale back options market-making
GLOBAL - Risk aversion and a sharp rise in foreign exchange options volatility is prompting banks to scale back their market-making activities in foreign exchange options, say traders.
Natixis in Bear Stearns forex hiring spree
NEW YORK - Natixis has hired 17 foreign exchange staff from defunct US investment bank Bear Stearns to kick-start the expansion of its FX platform.
Interdealer brokers' merger talks over
LONDON & NEW YORK - Stock prices of interdealer brokers Tullett Prebon and GFI Group plummeted on September 9, as a failure "to reach acceptable economic terms" halted ongoing merger talks.
GTS Pro broadens range
LONDON - City Index will extend the list of tradable products on recently acquired retail foreign exchange trading platform GTS Pro for non-US customers in October, a senior official has told FX Week .
Credit Suisse algos on Bloomberg
LONDON - Credit Suisse is offering its foreign exchange algorithmic trading strategies on Bloomberg FX Dealing, as the bank continues on its path to offer the service to a broader client base.
DealHub's BAM goes with the flows
LONDON - Option Computers Limited (OCL) has completed development of its business activity monitoring module (BAM), which enables users to view clients' foreign exchange trading activity.
CME/FXMS venture over?
LONDON - CME Group (CME), Thomson Reuters and FXMarketSpace (FXMS) have not confirmed a media report alleging CME has decided to end its involvement in FXMS, its joint venture FX platform with Thomson Reuters.
Cognotec broadens FX analytics
LONDON - Cognotec is offering users of its web-based margin trading platform access to charting software developed by Boulogne Billancourt-based IT-Finance.
TFX revamps forex trading
TOKYO - The Tokyo Financial Exchange (TFX) is set to launch a new trading platform for its foreign exchange market, Click 365, on October 27, to support rising volumes as it expands its list of market-makers and products.
Algo FX: the battle for market share
Algorithmic trading in foreign exchange is tipped to experience continued growth, but the uptake is not without its obstacles. Susanna Robinson reports
Algo trading: worth the expense?
An important issue that came up in the Aite Group report on algorithmic trading in foreign exchange released last week was the cost of using this form of trading.
NSE FX futures take off in India
MUMBAI - Foreign exchange futures trading on India's National Stock Exchange (NSE) reached 70,000 contracts on the first day of trading, as institutions seek to gain from futures amid a plummeting rupee.
OCL netting gets CLS-compliant
LONDON - Options Computer Limited (OCL) has launched a new version of its year-old pre-settlement netting tool that aims to manage back-office capacity constraints and cut messaging costs, while remaining CLS-compliant.
Multi-currency products ride the storm
NEW YORK - Wisdom Tree has confirmed its plans to launch its first multi-currency exchange-traded fund (ETF), as single currency exchange-traded products take the brunt of the rising dollar.
Finocorp adopts RealStream Margin
TEL AVIV - Financial services provider Finocorp has taken Cognotec's RealStream Margin platform on board for use within its online retail foreign exchange trading service, Realstreamtrading.
Forex revives an ailing Thomson Reuters
NEW YORK – Foreign exchange has aided Thomson Reuters’ second-quarter figures as it posted disappointing organic growth figures amid roiling financial markets.
Merger could shake up e-FX options
NEW YORK - The potential merger of Tullett Prebon and GFI Group could boost competition for market share in the electronic forex options market, according to analysts.