Tech and data
GFI targets corporates for options pricing
LONDON -- New York-based interdealer broker GFI Group today (June 16) launches a new online FX option pricing service targeting corporate firms and lower-volume FX users.
CME e-ratio exceeds 50%
CHICAGO -- The Chicago Mercantile Exchange's (CME) ratio of electronically traded FX trades is increasing rapidly every month, senior CME officials told FX Week .
Cheap volatility brings yen opportunities
Japanese economic growth has outstripped many western economies over the past year, and the next currency breakout in the FX markets could be yen strength. Alex Schumann and Trevor Nathan, of Commonwealth Bank of Australia in Sydney, show how investors…
Deal4Free white-label vols grow
LONDON -- Currency Management Corporation (CMC) Group has seen a 19% month-on-month rise in FX volumes through white-label partners on its Deal4Free trading platform since the beginning of the year, a senior CMC official told FX Week .
Trema revenues rocket
MONACO -- Swedish FX technology vendor Trema reported a 17% rise in revenues for 2002 last week on the back of the increasing dominance of the central-banking market.
Rabobank to change credit lines post-CLS adoption
UTRECHT -- Rabobank is to change its FX credit lines to differentiate between members and non-members of the Continuous Linked Settlement (CLS) service, a senior official at the bank told FX Week .
SingTech FXportal continues to grow
SINGAPORE -- PrismLight, Singapore Technologies' in-house, multi-bank FX trading portal, has signed around 10 new users since the start of 2003, a senior official at the firm told FX Week .
Reuters FX under threat EBS-Bloomberg forex alliance prompts defiant response from UK firm
LONDON -- Reuters was last week fighting back to secure its position in FX, following the announcement of an alliance between two rivals.
EUR-denominated diesel fuel hedge
There has been a recent trend for corporates to migrate the risk management of their commodity exposure from their procurement to their treasury departments. As the corporate’s risk is centralised, it is managed as part of a portfolio of more standard FX…
ACM aims for money managers
GENEVA -- Online FX trading firm AC Markets is hoping to increase its money manager client base with the launch of a new trading platform, a senior official at the firm told FX Week .
SuperDerivatives launches new options pricing service
LONDON -- FX options pricing vendor SuperDerivatives has launched a new version of its benchmark FX options pricing system, the firm will announce this week.
SEB takes NFS treasury trading link
STOCKHOLM -- SEB Merchant Banking has taken technology from Nordic Financial Systems (NFS) to enable its corporate clients to execute FX transactions via their own treasury management systems.
Rand recovery spells good news for South African FX
JOHANNESBURG -- The dramatic recovery of the rand and surging international interest in South Africa have proved a money-maker for local banks, market participants told FX Week .
Cognotec targets white-label market
DUBLIN -- FX trading technology vendor Cognotec is re-marketing its liquidity-outsourcing tool, Liquidity Linq, in response to growing demand for ‘white-label’ FX trading platforms.
Ericsson triples online trading ratio
STOCKHOLM -- Swedish telecoms giant Ericsson tripled the proportion of forex trades it executes electronically over the past year, a senior official told FX Week .
GNI plans OTC spot launch
LONDON -- UK broker GNI, a division of alternative investment provider Man Group, plans to launch a new ‘click-and-deal’ spot FX trading platform on its suite of online products later this summer. GNI Touch FX will add to the broker’s services for…
FX Connect hits $20bn in daily trading volume
BOSTON -- State Street Corporation traded more than $20 billion on its multi-bank FX dealing platform FX Connect last Tuesday (May 13). With some $1.2 trillion traded daily in the foreign exchange market, according to the latest figures from the Bank for…
Crackdown on risk budgets
Trader sign-off on revaluing data must end, says industry body NEW YORK -- The Professional Risk Managers’ International Association (Prmia) is considering issuing guidelines recommending banks separate their risk management budgets from FX and other…
Bank of Japan intervention set to continue
TOKYO – Japanese authorities spent over $20 billion in the forex markets in Q1 this year, in an effort to ease the yen’s strength against the dollar and the euro.