Tech and data
Portware offers access to Hotspot
NEW YORK – Portware, the New York-based vendor has implemented access to Hotspot FXi’s live foreign exchange trading market-place via its real-time, FIX-compliant, broker-neutral system Portware Professional.
The unitised managed assets solution
Packaging FX into a fund that retail investors can get easy access to is not straightforward, say Jan Vandendriessche, director, managed assets development, and Stephan Martinussen, senior manager, sales trading at Saxo Bank. They advocate setting up a…
Ringgit peg likely to end, say analysts
KUALA LUMPUR & SINGAPORE – The days of the Malaysian ringgit’s six-year peg to the dollar look to be numbered, according to analysts in the region.
Q4 forex gains at US banks
NEW YORK – US banks have posted strong revenues from their forex business in the last quarter of 2004, reversing the dismal returns from the previous quarter.
GFT deepens Asian presence
TOKYO – Futures commission merchant Global Forex Trading (GFT) is expanding its presence in Asia by establishing offices in Tokyo, Hong Kong and Sydney.
BTM takes Cognotec’s MRM
TOKYO – Bank of Tokyo Mitsubishi (BTM) has gone live with technology vendor Cognotec’s Market Rate Manager (MRM) solution, the vendor announced last week.
Kissing with confidence is key to FX
Keep it structurally simple (Kiss), says Evan Steed, director FX options trading and sales TD Bank Financial Group. This truism is especially appropriate as the greenback faces an uncertain future and regulatory change comes to Canada
BP prepared for IAS 39
LONDON – British Petroleum (BP) became the first European-based corporate client to go live with Wall Street Systems’ (WSS) Hedge Compliance Module to aid it in its compliance process following the introduction of the IAS 39 accounting standard.
The greenback/HK dollar digital deposit
Hong Kong dollar interest rates remain suppressed. Michael Image, FX structurer for Northeast Asia at Standard Chartered shows a way for HK$ depositors to achieve higher interest rates by taking advantage of the fact that US$/HK$ forwards are trading at…
UBS win prestigious forex derivatives award
LONDON – UBS won a leading industry award as the best forex derivatives house of 2004 for its cutting edge business development work.
Man Financial posts strong forex results Reuters to report revenue rise
LONDON – Reuters’ share price rose by 4.8% on the London Stock Exchange on January 13, from £3.8175 to £4, and hovered at that level by close, following a statement by the vendor on its Q1 performance.
BMO launches new FX trading system
MONTREAL – Bank of Montreal (BMO) Nesbitt Burns has launched eFXpedite, a new online trading system that enables the real-time electronic transaction of FX for a wide range of its corporate and institutional clients.
Further boost for Asian forex volumes
HONG KONG – Asia’s forex markets will continue to see strong activity this year as more participants pile into the asset class.
Brokers criticise UBS futures trading deal with Bloomberg
LONDON – A deal agreed between Bloomberg and UBS on global futures trading has led to unfair competition, some leading brokers are claiming.
Exporters resilient to strong Aussie dollar
SYDNEY – Australia's commodity exporters have remained resilient despite the strong Australian dollar, amid record high commodity prices and strong demand, say analysts.
JP Morgan pushes e-FX in Japan
TOKYO – JP Morgan Chase has made changes to its management team and plans to make hires in a bid to bring greater awareness of its electronic FX platform in Japan.
Lehman gets FX derivatives licence in S Korea
SEOUL – Lehman Brothers is expecting to get a boost to its FX business now that it has become the only foreign bank in Korea to offer a full suite of over-the-counter derivatives products onshore.
Review of 2004 - September: Reuters widens FX access
LONDON – Reuters announced that fund managers, corporates and mid-tier banks would soon get access to the firm’s interbank FX rates for the first time. The firm announced it would take spot dealing prices from its Matching service, used by 7,000 users at…