Tech and data
Banks compete for e-FX talent
LONDON – Dealers combining technological and sales expertise are in short supply as banks compete to secure staff that can aid their success in the growing online FX market.
Tullett plans new data launch
LONDON – Tullett Financial (TF), the data sales arm of broking group Collins Stewart Tullett (CST), is readying the launch of a new currency data product for June.
Data sets tone for firmer dollar
NEW YORK – Much stronger than expected economic data from the US last Friday has set the tone for a firmer US dollar this week – potentially putting an end to the nervousness that has kept some clients out of the market in recent days.
Reuters reorganises in Asia
SINGAPORE – Reuters has shifted a number of executives to new posts in Asia-Pacific to offer senior employees "new job experiences", it said last week.
NAB options desk "open again"
MELBOURNE – National Australia Bank (NAB) has resumed limited trading in currency options, as an April 30 deadline to amend its shortcomings passed last week.
Fairex eyes Chinese banks
SHANGHAI – Singapore-based e-FX technology vendor, Fairex International Financial Systems, is trying to win more bank clients in China through a new scheme set up by the Singapore government.
Fairex eyes Chinese banks
SHANGHAI – Singapore-based e-FX technology vendor, Fairex International Financial Systems, is trying to win more bank clients in China through a new scheme set up by the Singapore government.
GFT ramps up for institutions
ADA, MICHIGAN – Futures commission merchant Global Forex Trading (GFT) is expanding its institutional business with an aggressive recruitment drive for another new office.
News and research firms set to diversify
NEW YORK – News and research firms are looking to diversify their offerings following the recent take-over of currency analysis firm MMS by publishing group Informa Global Markets, said officials.
Volatility helps Reuters return to growth
LONDON – Renewed marketing efforts and continued volatility in the FX market led to a return to growth for Reuters’ dealing business in the first quarter despite fierce competition from EBS and Bloomberg, it said last week.
Banks draw EU25 battle plans
LONDON – Euro convergence may yet be years away for the 10 new member states joining the European Union (EU) this weekend, but far-sighted banks and brokers are already drawing up their FX battle plans for the new Europe.
FXall upgrades fault tolerance
NEW YORK – Multi-bank trading portal FXall is set to deploy the latest version of Sonic Software’s messaging middleware by the end of June, to upgrade remote communication and trading support for its sell-side client banks.
Synthesis takes Saxo for cross-product e-trading
GENEVA – Swiss private bank Synthesis Bank has launched a cross-product trading tool, Synthesis Trading Floor – a version of Saxo Bank’s SaxoTrader platform.
Ex-MMS analysts set up new research firm
NEW YORK -- A group of former MMS analysis staff are launching a new real-time advisory service today (April 19) for FX, fixed income and economic news.
CME cuts again for forex
CHICAGO -- The Chicago Mercantile Exchange will launch another series of price cuts in May to further boost FX volumes. This builds on discounts that are currently offered to new members across Europe ( FX Week , November 24, 2003), Asia and certain…
MAS move could pre-empt peg changes
SINGAPORE -- The Monetary Authority of Singapore’s surprise move last week towards a "policy of modest and gradual appreciation" for the Singapore dollar may be a pre-emptive move to counter Asian peg revaluations.
LBBW joins 360T with Cognotec
STUTTGART -- Germany’s sixth largest bank, Landesbank Baden-Württemberg (LBBW), has joined European multi-bank, multi-asset class trading platform 360T to offer its clients a wider electronic FX service.
ABN Amro takes Indover onto CLS
AMSTERDAM -- ABN Amro has taken Indover Bank onto the continuous-linked settlement (CLS) service for FX, as the first Dutch third party on the service. Indover’s Hong Kong branch is also signed up to become a fourth-party user via Indover in Amsterdam.
Icap enters electronic futures fray
LONDON -- UK-based inter-dealer broker Icap will start electronic trading of exchange-listed futures contracts on its BrokerTec platform by the beginning of the fourth quarter.