Tech and data
FXConnect and SunGard enter next phase in link-up
BOSTON -- State Street has launched a straight-through processing (STP) connection enabling clients to trade with multi-bank platform FX Connect directly from SunGard’s treasury workstations.
Integral hires another ex-EBS staffer
MOUNTAIN VIEW, CA -- Trading technology firm Integral continued its hiring spree of ex-EBS staff, with the recent addition of Ian Doull, developer of the spot broker’s dealing system. As vice-president of product marketing in New York, Doull will lead…
BarCap launches first single-dealer electronic platform for euro swaps
LONDON -- Barclays Capital and Bloomberg last week launched the first single-dealer online platform for trading interest rate swaps. The platform enables BarCap’s clients to trade vanilla euro-denominated interest rate swaps across various maturities via…
Saxo adds futures trading with Refco
COPENHAGEN -- Danish investment bank Saxo Bank has added futures coverage to its online trading platform SaxoTrader as part of a partnership with Refco Overseas, the European arm of New York-based Refco Group.
Hotspot FXi takes Traiana
NEW JERSEY -- Online institutional FX trading platform Hotspot FXi has taken Californian vendor Traiana’s automated FX prime brokerage software to automate the give-up of trades between prime brokers and institutional clients using its platform.
MMS globalises forex analysis coverage
LONDON -- FX and fixed-income research firm MMS International has enhanced its forex analysis by globalising its coverage, said senior officials.
Cognotec reduces pricing risk
DUBLIN -- Irish forex trading technology vendor Cognotec has launched a pricing tool to improve banks’ speed in providing electronic forex quotes.
Korea’s ‘first online FX platform’ set to grow
SEOUL -- Internet Buy and Sell System (IBS), a real-time online FX trading platform in Seoul, should have around 95,000 new customers by the end of the year, according to the bank’s chief executive Choi Se Woong.
Yuan’s US dollar peg to stay despite speculation
Beijing – Speculation that China may relax the yuan’s US dollar peg refuses to go away. Following media reports in June of US Treasury Secretary Jon Snow saying the Chinese government is considering widening the yuan’s trading band, the rumour mill is…
Dealing with yen downside risk
A collapse in the dollar/yen could offer significant trading benefits. How should an FX trader deal with the downside risk? By John Taylor, chairman of FX Concepts in New York
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
CMC starts trading in the US
NEW YORK – UK online forex trading firm CMC Group started trading in the US last week.
Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
Dollar still top currency for central banks
LONDON – Market speculation that central banks began rebalancing their reserves away from the dollar last year was misled, according to the Bank for International Settlements’ (BIS) annual report released last week.
DrKW adds TraderMade to Piranha
LONDON – Dresdner Kleinwort Wasserstein (DrKW) has added UK vendor TraderMade’s real-time charting to its online FX trading platform Piranha.
EBS makes spot sterling drive
LONDON – Spot broker EBS last week made a bid for market-share in the sterling market – the acknowledged gap in its coverage of major currencies.
eSpeed files patent suit
NEW YORK – eSpeed attempted to deal arch rival Icap a crushing blow last week by filing a suit in a US court accusing Icap’s newly acquired BrokerTec inter-dealer bond platform of infringing upon its ‘automated auction protocol processor’ patent.
Treasury management systems’ lack of STP may stall uptake
NEW YORK – Lack of straight-through processing (STP) ability may have slowed the uptake of FX and treasury management systems (TMSs), according to a report made public last week.
EasyScreen adds FX trading with SEB streaming prices
LONDON – London-based trading software vendor EasyScreen will add FX trading to its Data Centre trading platform over the coming months, using streaming prices from the London-based merchant banking division of Swedish bank SEB.