Tech and data
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…
Streaming data in demand
LONDON -- Streaming data provider Dealing Technologies is seeing strong interest from FX banks in its new product, senior officials at the firm told FX Week.
Dawn of the superleague
The future of foreign exchange is outsourcing, say industry experts
Reuters to acquire AVT Technologies
LONDON -- Reuters is buying UK foreign exchange trading technology firm AVT Technologies for an undisclosed sum, Reuters announced last week.
Euro slumbers through ECB decision
FRANKFURT -- There was little reaction in the FX markets to the European Central Bank’s (ECB) decision to cut interest rates by 50 basis points last Thursday (December 5).
Reuters extends Icap deal
LONDON -- UK information and technology firm Reuters has extended its agreement with London-based interdealer broker Icap to add more treasury and fixed-income market data to its platform, Reuters announced last week.
Merrill Lynch takes Fenics
NEW YORK -- Merrill Lynch is deploying the Fenics FX options pricing software from New York-based broker and vendor GFI Group in 100 global positions, GFI announces today (December 9). Fenics replaces Merrill’s existing in-house pricing platform for FX…
Multi-bank pricing is working, says Centradia
LONDON -- The multi-bank model is a success for clients trading on Centradia, according to figures released by the European portal last week. It said that for half its trades, the platform has returned more competitive prices than the client’s…
Greenback recovery continues apace
The US dollar has brushed aside negative sentiment but this week’s data releases will be pivotal for the currency, says Shahab Jalinoos, currency strategist at UBS Warburg
FXall adds liquidity providers
LONDON -- Multi-bank trading portal FXall will announce the addition of four new liquidity providers to its platform today (December 2).
FX markets shrug off Kenya attacks
LONDON -- There was muted reaction in the FX markets to last week’s terrorist attacks in Kenya.
Tech briefs
RBS Greenwich takes FNX
Forex e-trading volumes rising
NEW JERSEY -- US-based retail and institutional FX trading service Gain Capital notched up record trading volumes in October, the firm said.
Nedbank takes Reuters’ web OMS
JOHANNESBURG -- South African bank Nedbank became the first bank to go live with an internet-enabled forex order management service from Reuters Treasury Solutions, the bank announced last week.
Prebon joins SwapsWire
LONDON -- Inter-dealer broker Prebon Yamane went live last week on SwapsWire, an electronic service for confirming swaps deals that launched earlier this month.
CURRENCY SPOTLIGHT - Sterling strong for now
Sterling should remain supported by favourable fundamental and structural factors, but it is vulnerable to fluctuations in investor risk appetite, says Prebon Yamane’s Lena Komileva
Cross-products find their feet
LONDON -- Cross-product trading is no longer just a "mantra" chanted by sell-side bankers, said Matt Desselberger, managing director, corporate structured products group at Deutsche Bank in London.
Buy side embraces e-FX
LONDON -- Buy-side consumers of FX are increasingly using technology to add to their trading operations.