Tech and data
JPM designs emerging market FX carry index
LONDON – JP Morgan has extended its range of investable currency index products, with the creation of an index that seeks to exploit the carry trade in emerging market currencies.
DEALHub to launch netting service
NEW YORK – Post-trade technology vendor DEALHub is planning to launch a pre-operations netting service for the interdealer market, to manage back-office capacity constraints brought on by the rise in FX trading volumes.
Algos annihilate platform favouritism
NEW YORK – Algorithms are making trading on FX platforms agnostic, according to a panel discussion at FX Week 's USA congress in New York last week (July 10).
Keeping pace in an explosive market
Rick Schumacher, product manager at Wall Street Systems in New York, explores recent transformations in the FX market and the new challenges and opportunities these present for banks
Wall Street/Logiscope team up
LONDON & NEW YORK – Technology vendor Wall Street Systems has integrated Logiscope's TradeSTP with its FX trade processing solution, Wallstreet FX ASP.
Banks sign up to Bloomberg NDFs
NEW YORK – HSBC, Lehman Brothers, the Royal Bank of Scotland and Standard Chartered have committed to offering liquidity in non-deliverable forwards (NDFs) over the Bloomberg FX Dealing platform.
Liffe to launch time pro-rata algorithm for STIRT futures
LONDON – Euronext’s derivatives business Liffe has developed a new trade-matching algorithm for its short-term interest rate (STIRT) futures contracts, which will include a time element in the allocation process.
Traiana leads the algo trading pack
It appears Traiana is onto a winner with its NetLink service. Since its launch in January this year, the vendor has managed to roll out the ticket netting engine to three platforms, starting with spot broker EBS, electronic communications network Hotspot…
Participating in a rangy/bullish spot
How can clients maximise potential gains from favourable spot moves while minimising the downside risk? Eric Ohayon of Bank of America in London investigates
India’s Yes Bank expands e-FX strategy
MUMBAI – Yes Bank has begun distributing prices over the bank-to-client FX trading service, Reuters Trading for Foreign Exchange (RTFX), as part of a wider FX e-commerce initiative.
Saxo debuts retail algorithmic tool
LONDON – Saxo Bank is today (June 25) launching its retail algorithmic trading tool, TradeCommander, in the UK market ( FX Week , January 8).
Lehman Brothers continues e-FX drive
Lehman began offering prices over the Bloomberg FX Dealing system on June 12.
BNP Paribas multi-asset trading system to go live this year
LONDON – BNP Paribas plans to go live with a new multi-asset trading system in the third quarter of this year, marking the move of another bank away from silo-based trading and sales.
E-trading comes in many flavours
The future of electronic trading is mapped out by Nick Dyne , chief executive of London-based data management and STP systems vendor Logicscope
Call for rejig in liquidity management
LONDON – FX banks are in need of a radical overhaul of their liquidity management systems, according to research released Friday (June 15) by London-based research and advisory company ClientKnowledge.
Progress adds algorithmic functionality to Apama
BEDFORD, MASSACHUSETTS – Software vendor Progress Software is today (June 18) launching an FX package that allows FX traders to run algorithms across multiple liquidity sources, accessing best price and market depth.
Saxo Bank expands London sales force
LONDON – Saxo Bank has strengthened its London sales and marketing teams with four new hires, as it continues to expand its presence in the city as part of a global strategy.
Landsbanki selects SuperDerivatives
REYKJAVIK – Iceland's Landsbanki has gone live with SuperDerivatives' multi-asset class price discovery platform, signalling the move towards multi-asset class sales by banks.
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
Reuters upgrades RTFX service
LONDON – Reuters has gone live with a revamped version of Reuters Trading for Foreign Exchange (RTFX), its bank-to-client FX trading service.
Mifid: the final countdown
Those that haven't firmly addressed their execution policy must take action, says Chris Pickles , chair of the directive's Joint Working Group in London
Algorithmic trading:the race for better value
The rocketing popularity of algo trading is examined byMark Akass, chief technology officer of BT Global Financial Services
GCC currency uncertain after Kuwait abandons dollar peg
SAFAT, KUWAIT – The decision to abandon the Kuwaiti dinar’s peg to the US dollar in favour of a basket of major currencies has brought into question plans to introduce a single currency for the six Gulf Cooperation Council (GCC) states.
Progress offers algo platform as a customised
BEDFORD, MASSACHUSETTS – Progress Software Corporation has packaged its Apama algorithmic trading platform for sell-side banks to offer as a complete web-based service to buy-side clients.