Tech and data
Icap to add trading to i-Swap
LONDON – Faster-than-expected advances in electronic derivatives trading have prompted inter-dealer broker Icap to step up plans to launch its own electronic swaps trading platform.
Reuters sees sales turnaround
LONDON – Reuters chief executive Tom Glocer last week announced the first positive month for sales since May 2001. Speaking at an investor's conference in London, Glocer said sales of the vendor's data and technology products in May 2004 exceeded…
FX Cross sees record trading volumes
LONDON – Citigroup and institutional broker Instinet said last week that record volumes are going through their joint forex matching service.
Consortium tackles broker STP
LONDON – A handful of prominent banks and brokers known as the Trader Notification Service (TNS) Consortium has launched a platform that automates trade notification between its members.
Front integrates dt Compass, Arena
STOCKHOLM – Front Capital Systems, the Swedish subsidiary of SunGard, is working with four clients to integrate the recently purchased dt Compass FX options system from Derivatech into its Front Arena trading system.
HSBC wins BMo CLS contract
MONTREAL – Bank of Montreal (BMo) has selected HSBC as its settlement member for the continuous-linked settlement (CLS) service. The deal will bring HSBC another 200,000 FX transactions a year to settle on the New York-based settlement service on behalf…
JP Morgan joins white-label race with Cognotec
NEW YORK – JP Morgan is launching a white-label FX trading platform for its financial institutions clients, using software from vendor Cognotec. The multi-product multi-language service enables the US bank's clients to provide a 24-hour FX service to…
SuperDerivatives storms Singapore
SINGAPORE – SuperDerivatives has signed 10 new contracts in Singapore for its FX option pricing system SD-FX since the beginning of this year.
Long-term solution for dollar/rupee liability
With the Indian rupee rising and a low federal funds rate, Amit Bansal, head of treasury at Barclays Capital in Mumbai, proposes a solution for a corporate to take advantage of the inverted swap points
ACI Congress debates future
LONDON – The European forex community gathered in London last week for the ACI European Congress hosted by ACI UK. Among the contentious issues discussed during the three-day event were operational risk, the future of the European Union and trading in…
CME and Reuters pool liquidity
LONDON – Trading systems vendor Reuters and the Chicago Mercantile Exchange are bringing together their pools of buy-side and sell-side liquidity in what may be the first move towards an exchange model for the FX market.
SSiSearch CLS Directory fills up
LONDON – SSiSearch, a vendor of authenticated FX settlements reference data, said last week it has now signed up 41 out of the 53 settlement members of the continuous-linked settlement service (CLS) for its CLS directory.
Misys and Currenex link for STP
NEW YORK – UK systems provider Misys Wholesale Banking Systems and multi-bank FX trading portal Currenex have formed an alliance to provide clients with straight-through trade processing from execution to confirmation and settlement.
GFI white-labels options pricing
LONDON – Inter-dealer broker and market data firm GFI Group last week announced its first white-label deal for Fenics FX Online, the web-based version of its flagship forex options pricing, analytical and revaluation system.
Tullett starts e-delivering data
LONDON – Tullett Financial, the data sales arm of broking group Collins Stewart Tullett, has started delivering data over the internet in a bid to win more small clients.
ACI European Congress: exhibition preview
Delegates at the seventh ACI European Congress this week will have plenty to keep them busy, as vendors and banks line up a vast array of product demonstrations and promotions.
CLS is 'changing the front-office'
LONDON – The continuous-linked settlement (CLS) service for FX trades has changed credit and trading practices among the majority of its users, reveals research from IT consultancy TowerGroup to be published this week.
Vendors gather for DWT
LONDON – FX and trading technology vendors are gathering in London this week for the tenth annual Dealing with Technology exhibition.
Traders’ perceptions of market timing
Jeffrey Todd Lins, director in quantitative analysis at Saxo Bank in Copenhagen, discusses the importance of timing in making trade decisions following an economic release