Post-trade
UBS beefs up its PTS Services post-trade system
NEW YORK – UBS enhanced its post-trade services last month, introducing a number of added capabilities to its post-trade processing portal, PTS Services Portal.
A flying start to 2007
GLOBAL – The year is off to a flying start as currency markets opened with a healthy level of volatility last week, said traders.
December 2006 - EBS moves into netting following Traiana deal
LONDON – EBS is to establish a netting service to enable prime customers to net trades with their banks, as the spot broker looks to adapt to the changing landscape.
July 2006 - NAB saga heads towards closure
MELBOURNE – The final chapter of the National Australia Bank (NAB) trading scandal unearthed in 2004 drew close to its conclusion in July, with the last two forex options traders jailed.
EBS moves into netting
LONDON – EBS is to establish a netting service to enable prime customers to net trades with their banks, as the spot broker looks to adapt to the changing landscape.
HSBC trades non-deliverable swaption
HONG KONG – HSBC last week traded the first ever option on a renminbi non-deliverable interest rate swap.
CLS moves into OTC derivatives
NEW YORK – Settlement system CLS has begun working with the Depository Trust & Clearing Corporation (DTCC) to provide central settlement of payments for over-the-counter (OTC) derivatives.
Quick, look busy! Here comes Mifid
Chip Lowry , senior managing director of State Street Global Link in Europe, looks at what Mifid will mean for the foreign exchange industry
Reuters cuts EM options brokerage fees in half
LONDON – Reuters' decision to revamp its FX options matching system has increased competition for e-broking of options, with the prospect of slashed brokerage fees.
LiquidityHub hires chief executive, pooling banks' resources
Robert MacLeod has been made chief executive of London-based LiquidityHub, a venture that aims to electronically pool the fixed-income liquidity of 11 investment banks.
Proportionate regulation is the key
The move by the US and UK regulators to work in closer co-operation can only be a good thing for the market as a whole.
US and UK regulators sign MoU to improve market surveillance
LONDON & WASHINGTON DC – The UK Financial Services Authority (FSA) and the US Commodity Futures Trading Commission (CFTC) signed a Memorandum of Understanding (MoU) to strengthen market communication oversight last week.
Citi forms FICC group
NEW YORK – Citigroup has merged its global fixed income and emerging markets businesses to establish a new global fixed income, currencies and commodities (FICC) group.
Icap should get the options ball rolling
The FX Week Europe Congress was the biggest and best yet. The brightest star among many was Michael Spencer, chief executive of Icap, who explained his plans to expand his business into electronic FX options.
Sovereign Bank live on Sierra platform
PHILADELPHIA – Sovereign Bank is using an FNX Solutions web-based Sierra platform for the its FX operations, the treasury and capital markets technology provider announced last week.
FXPB: a growing divide
LONDON – Foreign exchange prime brokers (FXPB) have started to split into full-service providers and those targeting niche markets, according to panelists at the FX Week Europe Congress last week.
Staying a step ahead of the pack
Icap's move to shift the emphasis of its voice-broking capabilities to emerging markets is indicative of how the company has achieved its current dominant position as a global force in money broking.
Currenex develops Fix spin-off
LONDON – Currenex is launching an open standard Fix-based straight-through processing (STP) protocol for FX, money markets and precious metals this week.
Fimat expands in Hong Kong
SYDNEY & HONG KONG – Fimat's decision to open a bank branch in Hong Kong will enable it to substantially increase its FX operations, the Société Générale-owned broker said.
Hedging ahead of takeover activity
Stephane Knauf, Global Head of FX Structuring at Citigroup in New York, proposes deal-contingent forwards and options to hedge risks ahead of a potential cross-border acquisition
Grupo Santander goes live with SuperDerivatives platform
MADRID – Grupo Santander has licensed SuperDerivatives' commodities and energy real-time pricing and analytics platform SD-CM, as it expands its European and Latin American energy and metals derivatives business.