Post-trade
RBS veteran McHugh retires
LONDON – Cian McHugh, global head of FX services, last week retired from the Royal Bank of Scotland (RBS) in the latest in a series of senior departures.
How to play gravity-defying USD/JPY
Peter Luxton, Global Markets Adviser and Shant Movsesian, Senior Options Analyst at Informa Global Markets advise taking dollar bulls into account when trading on potential weakness
Banca Aletti takes Risque approach
PARIS – Banca Aletti is going live with technology vendor Sophis' Risque front- to back-office system for its FX derivatives business.
Vwd expands Tullett package
FRANKFURT – German data vendor vwd has expanded its Data Manager Treasury end-of-day FX and money markets data package with extra information from Tullett Prebon Information, the data arm of broker Collins Stewart Tullett.
Currenex launches catalyst program
NEW YORK – Trading technology vendor Currenex has launched a testing program for third-party software vendors to aid in the development of new products.
Wall Street rebrands to expand forex business
SYDNEY – Wall Street Systems has rebranded to reflect the growing importance of foreign exchange to its business.
Payments industry gathers in Sydney
SYDNEY – Denmark's Sydbank has added an FX order management system from technology vendor Cognotec, as part of an upgrade to its electronic trading platform.
Human touch will always be needed
Markets have been on the move again this week. Comments from retired Fed chairman Alan Greenspan about the US housing market and noise surrounding China's reserve policy ensured that the greenback at last broke through the 1.26–1.28 range that it had…
Traiana and Flextrade provide algo STP
Trading technology vendors Traiana and Flextrade have teamed up to enable straight-through-processing (STP) of algorithmic trades over their systems.
Rennies adopts CheckFree solution
SYDNEY – Rennies Bank, a South African forex specialist, is now employing CheckFree's Accurate NXG straight-through processing solution to help better manage potential operational risk for internal and external customers.
CLS: a slow adopter, sticking fast
The move by CLS into China reflects well on the settlement system. The fact that the bank-owned utility spent more than two years diligently negotiating Bank of China’s (BoC) path to becoming a shareholder shows it is genuine about welcoming emerging…
Credit Suisse starts algorithmic trading
LONDON – Credit Suisse is developing multi-asset algorithms to complement its Advanced Execution Services (AES) suite of algorithmic trading capabilities, according to an official at the bank.
AIB to pay €30m for overcharging
DUBLIN – Allied Irish Bank (AIB) is to pay over €30 million in further damages relating to foreign exchange overcharging, ending a two-year investigation into the matter.
AIB to pay €30m for overcharging
DUBLIN – Allied Irish Bank (AIB) is to pay over €30 million in further damages relating to foreign exchange overcharging, ending a two-year investigation into the matter.
SG CIB realigns FX business
LONDON & PARIS – SG Corporate and Investment Banking (SG CIB) plans to realign its foreign exchange business within a new fixed income, currencies and commodities division early next year.
A capital adventure
Michael Spencer tells FX Week about how he turned Icap from a four-man business into a £3 billion FTSE 100-listed powerhouse in 20 years, and about his plans for EBS
FXall sees strong take-up on MM platform
LONDON – More than 65 institutions have participated on the FXall money markets platform since it was launched in June, the platform said last week.
New Xinhua rules intercept foreign news
BEIJING – Xinhua News Agency, the Chinese government-controlled information service, has issued new rules designed to stop foreign competitors from working directly with their customers in China.
Sammann resurfaces at CME
CHICAGO – Derek Sammann, former managing director and global head of FX options and structured products at Calyon, has resurfaced at the Chicago Mercantile Exchange (CME).
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
Hedging sterling/dollar is best option
Despite GBP/USD rising over 10% so far this year, Ian Stannard, senior currency strategist at BNP Paribas in London, says hedging still makes sense
Fimat enhances risk management
WHITE PLAINS, NY – Fimat Group, a division of French bank Société Générale, has enhanced its real-time currency risk management offering in conjunction with technology vendor TwoFour Systems.
StanChart extends use of FinIQ structured deposit system
GLOBAL – Standard Chartered (StanChart) is rolling out a structured deposit pricing and processing system for its currency-linked investments businesses globally.