Post-trade
Keeping current at Currenex
In the second in a series of interbank profiles, FX Week looks at the prospects of Currenex
Broker consolidation in the spotlight
LONDON – Consolidation of the broking industry is looming large again, with the unexpected announcement by Collins Stewart Tullett (CST) last week that it had received a number of bids for the company.
Deutsche boosts prime brokerage
LONDON – Deutsche Bank has extended its prime brokerage offering with the introduction of options, non-deliverable forwards (NDFs) and increased processing capabilities.
Reuters enters post-trade market
LONDON – Reuters is to move into post-trade settlement of FX transactions with the forthcoming launch of its Reuters Trade Notification Service (RTNS).
CLS cuts costs as well as risk, says survey
LONDON – The introduction of CLS has cut processing costs of FX transactions almost three-fold, according to a survey by Z/Yen, a city-based market research firm.
Industry resilient to shocks
NEW YORK – The new dynamics of the foreign exchange industry has meant that the industry is better equipped to react to major disruption in the market.
GFT opens Aussie office
SYDNEY – Global Forex Trading (GFT), the provider of real-time currency dealing, pricing and services for retail and institutional forex traders, has begun operating a field office in Sydney, Australia.
New name and chief executive for Tullet
NEW YORK – Tullett Financial has changed its name following the merger with Prebon, and named G Andrea Danese as chief executive. The company will now be known as Tullett Prebon Information.
Italy most likely to pull out of euro
GLOBAL – Of the 12 member nations currently making up the euro, Italy is most likely to dump the currency, according to a survey conducted by FX Week .
NAB currency trader jailed
MELBOURNE – Luke Duffy, former head of the National Australia Bank’s (NAB) foreign currency options desk, has been sentenced to 29 months’ imprisonment for his part in the bank’s rogue trading scandal unearthed last year.
‘One size fits all’ is not appropriate
Sabrina Jacobs, FX strategist, capital markets, at Dresdner Kleinwort Wasserstein, says Asian currencies need to be looked at on an individual basis
Romania takes Delta Dealing System
Bucharest – Dublin-based software vendor Delta Community has successfully entered the Romanian market.
Benefiting from yuan revaluation
The Lloyds TSB Financial Markets team suggests how to benefit if the Chinese yuan revalues and Asia follows suit
Sybase moves into forex
DUBLIN, CALIFORNIA – Software vendor Sybase is to open its risk analytics platform to FX data. The vendor will now process risk and trade data for high-volume FX data feeds.
UK least likely to adopt euro
GLOBAL – Of the European Union members yet to join the euro, the UK is the least likely to join the single currency, according to a survey of FX Week readers.
RCP to show off STP prowess
LONDON – RCP Consultants will be demonstrating its straight-through processing via its flagship product, Deal Web, launched at the ACI in London last year. This service allows all FX conversations and tickets to be available electronically within a bank…
Citic chooses Sophis
HONG KONG – Citic Capital, the international investment banking arm of China International Trust and Investment Corporation (Citic) Group, has selected Risque as its core platform for risk management and proprietary trading for processing in FX,…
SG takes up prime brokerage challenge
NEW YORK – SG Corporate & Investment Banking (SGCIB) has fully entered the prime brokerage market with the launch of SG Prime.
GFI launches Fenics dealFX
NEW YORK – GFI Group is to demo Fenics dealFX, a foreign exchange options trading system that it launches this week at the congress.
Q&A: John Nelson
To mark 15 years of FX Week , we carry a Q&A with our first subscriber, look at three major pairs opposite and run three of the key stories shaping the industry
Reuters showcasing latest additions
STOCKHOLM – Reuters will be exhibiting its expanded electronic trading portfolio, including the impending Reuters trading for foreign exchange, at the congress.
SuperD launches reval product
NEW YORK – Pricing systems vendor SuperDerivatives has expanded its suite of services with the launch of a revaluation service.