Tech and data
360T targets more price providers
FRANKFURT -- Multi-bank, multi-asset trading platform 360T expects to have 30 banks connected to its system by year-end, a senior official at the Frankfurt-based firm told FX Week .
Tech briefs
RBC takes Fenics
E-prime brokerage at DrKW
LONDON -- Dresdner Kleinwort Wasserstein’s e-FX prime brokerage service now offers full straight-through processing (STP) for its users, senior officials at the bank in London told FX Week .
Dollar routed again as war looms
NEW YORK -- The dollar was roundly routed last week as tensions between the US and Iraq were ratcheted up a notch.
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ADB adopts Summit
COESfx to go live in March
NEW YORK -- COESfx, an online FX electronic communications network (ECN) platform, will go live in March, Tim Kelly, president and chief executive officer of the firm told FX Week .
FX portal for SingTech
SINGAPORE -- Multinational conglomerate Singapore Technologies last week announced the launch of a multi-bank FX trading portal for its subsidiaries.
Reuters swaps plans won’t change Icor FX
NEW YORK -- Reuters’ recent agreement in principle to take control of its part-subsidiary Icor Brokerage’s interest rate swaps platform, will not be extended to forex, an Icor official told FX Week .
Euro wins as North Korea tensions rise
LONDON -- The euro was the biggest beneficiary in the currency markets as tensions in Asia increased over North Korea’s nuclear intention last week.
FIXing it for buy-side and sell-side firms
LONDON -- Buy-side and sell-side firms are increasingly adopting the Financial Information eXchange (FIX) messaging standard for FX, according to senior officials.
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Bank of Taiwan takes Citi for CLS
Technology briefs
Bundesbank completes STP for foreign currency reserves
October - Multi-bank evolution continues
Multi-bank evolution continues
Markets get off to a busy start
LONDON -- There was no rest for FX markets through the festive period and into 2003, as the euro hit a three-year high against the dollar before the greenback fought back to recover.
March - Atriax sunk by failed merger talks
Atriax sunk by failed merger talks
V-Banking upgrade
SYDNEY -- Australian FX dealing technology firm Velocity Systems International last week unveiled a new version of its web-based e-treasury software.
Tech briefs
Bank One installs Calypso to help expand interest rate derivatives
Problem trades are ‘eating up forex profits’ -- SunGard
LONDON -- Nearly a quarter of FX transaction profits are eaten up by ‘exceptions’, or problem trades, according to a survey of 500 financial institutions.
Hotspot FXi plans launch in Europe
NEW JERSEY -- Online institutional FX trading platform Hotspot FXi will launch a European office in the first quarter of next year, in response to increasing volumes, president and chief executive officer John Eley told FX Week .
Merger sparks vendor war
LONDON -- Sparks were flying in the e-forex industry last week, as banks, vendors and brokers reacted to the fallout from Reuters’ purchase of rival FX trading software firm AVT Technologies.
Global tensions force euro higher
LONDON -- The euro hit a three-year high against the dollar late last week on heightening risk aversion among investors as global political tensions mounted.
ING breaks new ground in FX swaps
SEOUL -- Dutch bank ING is to provide a 21-year swap for South Korea’s first cross-border residential mortgage-backed security (RMBS). "This is the first 21-year cross-border swap done in the Korean market," said Marc Choo, a Hong Kong-based director in…