Tech and data
FXall adds to messaging
NEW YORK – Multi-bank platform FXall is collaborating with New York messaging firm Communicator to offer an additional real-time messaging service to its clients from today (May 12).
CLS glitch repeat unlikely
NEW YORK – A repeat of the March 25 technical glitch which left over 20,000 Australian dollar and yen trades unsettled on the Continuous-Linked Settlement (CLS) service is unlikely, a CLS spokesperson told FX Week .
Market rounds on dollar as US doubts gather
NEW YORK -- The dollar sagged to a four-year low against the euro last week, and fell across the board.
Centralised data is key
LONDON -- The key to effective risk management is centralised market data, according to David Sharratt, head of market data at UK bank Abbey National.
Banco do Brasil uses BoNY for CLS
BRASILIA -- Banco do Brasil is settling its FX trades using Bank of New York’s third-party continuous-linked settlement (CLS) service, SafeSettle.
More outsourcing ahead
LONDON -- Outsourcing in the FX and treasury markets is about to take off, according to Wall Street Systems marketing director, Mike Thrower.
B2C clients stay with Reuters post-merger
LONDON -- Reuters has not lost any clients of its off-the-shelf internet FX dealing product, Automated Dealing (AD), since it bought and merged with AVT Technologies in December.
Faulty switches ground Globex
CHICAGO -- Online FX trading on the Chicago Mercantile Exchange’s (CME) Globex trading platform was hit last week by a five-hour outage. It was taken off-line last Thursday morning (May 1) and re-started after the delay, caused by faulty network switches…
Indian market opens up
MUMBAI -- Reform of India’s FX rules could create the next large emerging market, signalling a lucrative new area for banks to exploit.
Technology and market data firms gather for DWT 2003 in London
LONDON -- Forex technology and market data vendors gather in London this week for Dealing With Technology (DWT) 2003. FX Week ’s parent company Risk Waters Group and Write Image PR consultancy, which co-organise the event, said more than 500 delegates…
CME FX record down to Globex
CHICAGO -- The Chicago Mercantile Exchange (CME) last week attributed record forex volumes to increasing use of its Globex electronic trading platform.
Riding with the euro
A European client buying US dollars should consider a three-year swap to use the current euro strength to their advantage, says Pritpal Gill, head of structuring at Lehman Brothers in London
Wachovia Bank launches second trading platform
CHARLOTTE -- Wachovia Bank, a unit of Wachovia Corp, last week launched Online FX, an in-house-built online FX trading platform for spot, forward and cross-currency deals.
Q1 FX joy for Reuters
LONDON -- Technology and information firm Reuters reported a 10% dip in its Q1 earnings, announced earlier this month, but a strong performance from its FX products helped limit the damage.
Multi-bank platforms reap e-forex growth rewards
LONDON -- Multi-bank FX trading portals are capturing the greatest amount of e-FX dealing volumes, according to consultancy Greenwich Associates.
HSBC white-labelling by Q3
LONDON -- HSBC’s new white-labelling service for foreign exchange trading, which was announced last week, will go live in Q3, according to an official at the bank in London.
A firm view on the rand
Unexpected data revealing South Africa’s current account surplus has led Merrill Lynch to cite a firm view on the rand. Jos Gerson, chief economist for South Africa in Cape Town, explains key factors that must be taken into account in coming to a solution
HSBC takes Reuters for white-labelling
LONDON -- HSBC Group has chosen Reuters to develop a white-label FX trading platform the bank will then white-label to client banks and corporates.
Firms line up to join FX standards group
LONDON -- The Treasury Workstation Integration Standards Team (Twist), an industry initiative set up to standardise integration between all FX systems, has doubled its membership to more than 50 firms in the past four months.