Tech and data
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Rate cut turns market anti-dollar
NEW YORK -- The US dollar hit three-month lows against several major currencies last week, triggering a welcome return of volatility to the markets after months of range trading.
Yen shrugs off loans plan
TOKYO -- There was muted reaction in the FX markets last week to the Japanese authorities' plans to tackle bankss bad loans and revive the region's faltering financial system, analysts told FX Week .
AutoDeal+ sees light
LONDON -- FX trading technology vendor Cognotec will today (November 4) launch AutoDeal+, its new foreign exchange trading platform.
FXall expands STP influence
LONDON -- Multi-bank FX trading portal FXall last week announced complete straight-through processing (STP) for clients of treasury management system vendors XRT, Selkirk and SimCorp.
Tech briefs
SuperDerivatives snares Mizuho FX options pricing vendor SuperDerivatives has added Mizuho Corporate Bank to its client list.
Swissie stays stable
Risk aversion has aided Swiss franc progress, says David Durrant, chief currency strategist at Julius Baer Asset Management in New York
Expansion in forwards trading and teams
LONDON -- The FX forwards market is seeing an influx of new dealers and trading systems as players battle for market share in the lucrative sector.
Banks buy not build for FX
LONDON -- Banks are increasingly outsourcing FX technology, moving away from proprietary systems, bank officials and FX vendors told FX Week .
Exchange model for e-FX unlikely
DAVOS -- The foreign exchange market is unlikely to move to a formal exchange model, whereby customers can deal directly with each other, said speakers at a seminar organised by ACI -- The Financial Markets Association.
Exchange model for e-FX unlikely
DAVOS -- The foreign exchange market is unlikely to move to a formal exchange model, whereby customers can deal directly with each other, said speakers at a seminar organised by ACI -- The Financial Markets Association.
Abbey National adds to Arcontech data
LONDON -- Abbey National Treasury Services (Ants) is contributing its interest rates to market data vendors using Arcontech's CityVision Multiple Vendor Contribution System (MVCS), the UK-based technology vendor will announce this week.
Sungard coup for FXConnect
LONDON -- State Street Corporation is to announce this week it has secured a coveted deal with UK treasury software firm Sungard.
Market mulls options benchmark
LONDON -- Standard FX options benchmark prices could be the answer to inaccuracies in marking exposures to market, but whether the move is possible is a matter for debate, according to senior options market participants.
Asian forex players muster in Malaysia
KUALA LUMPUR -- Forex market players in Asia will gather in Kuala Lumpur this week for ACI -- The Financial Markets Association's 22nd Asia Pacific Congress.
Tech briefs
SG launches e-MM
Funds step up online FX trading
NEW YORK -- Fund managers are trading more foreign exchange online, according to numbers released by multi-bank portal FXall last week. The client sector now accounts for one quarter of trades by volume on FXall, up from 7% at its launch in May 2001.
Bloomberg's e-forwards debut
NEW YORK -- Bloomberg has completed the rollout of its PowerMatch FX interbank platform for forward swaps, it announced last week.
e-Mid targets electronic settlement of MM trades
MILAN -- e-Mid, a provider of electronic markets for treasury products, aims to reduce money markets settlement risk on its platforms by automating the process, according to an official at the firm in Milan.
Q3 treasury broking results bring ray of light for Reuters
LONDON -- Reuters' treasury broking services provided a rare piece of good news in the UK technology and data firm's Q3 results, published last week.
MMS plans growth in forex analysis
LONDON -- FX and fixed-income analysis provider MMS International, part of the newly formed MMS Group, is to grow its headcount by 20%.
Convenience is key for online trading
GENEVA -- Convenience is a key factor driving buy-side clients' use of online FX portals, according to professionals attending the Swift International Banking Operations Seminar (Sibos) conference in Geneva at the start of this month.
Upsurge in German forex
FRANKFURT -- Deregulation of the German insurance market is attracting the world's top investment banks to expand in Frankfurt.
Tech briefs
SG takes SuperDerivatives for another year