Tech and data
Bank of America joins index bandwagon
NEW YORK – Bank of America (BoA) has launched 73 indexes that track the performance of 30 developed and emerging market currencies against the US dollar.
Banks gear up to pursue forex opportunities in India
MUMBAI – Banks are realigning and expanding FX desks in India, in response to the growing business opportunities in the country.
Saab chooses SuperD to enhance pension funds
STOCKHOLM – Swedish defence contractor Saab is using interest rate derivatives data from SuperDerivatives to enhance the performance of its employee pension funds.
The need for speed in algorithmic trading
LONDON – By 2017, the 10 top banks will manage 80% of all capital markets by revenue, according to Ralph Silva, senior analyst from Tower Group.
Deutsche Bank launches currency index
LONDON – Deutsche Bank last week launched an investable currency index that replicates the carry, momentum and valuation strategies in a non-discretionary rule-based product.
Preparing for a decline in cable
WHAT STRATEGY SHOULD BE ADOPTED AHEAD OF STERLING'S FALL AGAINST THE US DOLLAR? BEN TYLER , ASSOCIATE DIRECTOR, STRUCTURED FX AT LLOYDS TSB CORPORATE MARKETS IN LONDON INVESTIGATES
SmartStream launches TLM Trade Process Management
LONDON & BOSTON – London-based technology vendor SmartStream Technologies last week released a system that automates the transaction lifecycle from execution to settlement.
Reuters develops Mifid data solutions
LONDON – Reuters is developing a series of tools aimed at meeting data requirements under Europe's Markets in Financial Instruments Directive (Mifid).
Quant House hooks up to Hotspot
PARIS – Programme trading system vendor Quant House has built an application programming interface (API) to electronic communications network Hotspot FXi.
Banks gear up to fight online traders
Last week provided some interesting insight into the insecurities some banks are suffering from vis-à-vis online trading companies.
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
Bloomberg adds Asian NDIRS to its terminal
SINGAPORE – Bloomberg has added trading in Asian non-deliverable interest rate swaps to its Professional terminal, signalling the continued push by platforms to expand coverage of the region.
FXMarketSpace build-up continues with eight hires
LONDON, NEW YORK & CHICAGO – FXMarketSpace, the Reuters and Chicago Mercantile Exchange (CME) joint-venture platform, has made eight new hires ahead of launch at the end of this quarter.
WestLB plugs into Gissing Software
LONDON – German bank WestLB is using technology from Gissing Software to distribute foreign exchange and money market prices across its offices globally.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
SuperDerivatives launches derivatives trading platform for hedge funds
LONDON – Technology firm Super-Derivatives has launched an online multi-asset derivatives trading platform, designed for hedge funds.
Erste Bank implements Calypso
VIENNA – Erste Bank has begun implementing a front- to back-office solution from San Francisco-based techno- logy vendor Calypso Technology for interest rates, foreign exchange and credit derivatives.
The risky business of trading
The case for banks entering the retail market with trading platforms of their own seems to be getting stronger.
CLS mulls netting option
NEW YORK - CLS is reviewing the possibility of launching a netting service, as the settlement platform looks to adapt to the changing landscape.
Mifid – a commercial opportunity
The commercial opportunities Mifid presents to the foreign exchange dealer are examined by Chris Pickles, chair of the directive's Joint Working Group in London
Where there's change, there's opportunity
The financial markets are exceptionally good at thinking up new and innovative ways of getting things done when hurdles emerge.
Carry on... with a difference
There are many ways to take advantage of uncorrelated carry trades, says Marios Maratheftis, FX strategist at standard chartered in London