Trading Systems
Bloomberg Tradebook back on track
NEW YORK - Bloomberg Tradebook is this week re-launching its foreign exchange electronic communications network after suffering up to eight weeks of outage as it sought to replace AIG as its central clearer.
Forex contends with great expectations
The foreign exchange industry is set for a shake-out next year as re-pricing of risk forces change in the make-up of the industry.
Market risk brings client relationships to the fore
LONDON - Relationship pricing has become key for banks, reflecting the increase in market risk, according to panellists at last week's FX Week Europe Congress in London.
UBS shines as CLS provider during turmoil
UBS took home the accolade for the best third-party CLS provider, in a year that has tested the model's basic premise.
Danske leads locals in Scandi domination
Danske Bank was victorious in the Scandinavian currencies category, benefiting from its local market advantage.
Best FX Bank Awards: Barclays Capital has e-trading edge
Barclays Capital has usurped UBS to take pole position as the best bank for electronic trading, after coming second in last year's rankings.
Diversity key to success for FXall
FXall has triumphed in the best multibank foreign exchange portal category for the seventh consecutive year.
UniCredit set to launch new FX trading platform
MILAN & LONDON - UniCredit is deploying Caplin Trader and Reuters Electronic Trading - Automated Dealing (RET-AD) as the basis for its single-bank foreign exchange trading platform.
WestLB drops RealStream
DÜSSELDORF - WestLB is no longer using Cognotec's RealStream Manager and has signed up to Eurobase's Siena Gateway, in a move to streamline its electronic foreign exchange infrastructure.
AthenaTrader 4.2 features more FX tools
NEW YORK - Custom trading and testing software vendor Aegisoft will add new tools to the next release of AthenaTrader, aimed at giving the end user greater control of foreign exchange trades.
Wall St Systems launches ESN
LONDON & PARIS - Wall Street Systems is in discussion with a Tier II and two Tier III US banks for use of its pay-as-you-go post-trade processing utility, Electronic Settlement Network (ESN).
BarCap picks Caplin for rates
LONDON - Barclays Capital has signed a contract to purchase web-based application Caplin Trader for its fixed-income electronic commerce system.
Interbank lending eases further
LONDON - The Ted spread, along with overnight and three-month Libor, fell for the fourth day in succession after European governments announced bail-out packages on Monday (October 13), and the US followed suit on Tuesday.
Credit Suisse launches currency basket options
LONDON - Credit Suisse has introduced currency basket options on Merlin, its proprietary electronic foreign exchange structured products trading platform, in response to client demand.
Caplin Systems a star onboarder
LONDON - Caplin Systems, a London-based web technology vendor, has signed two major European banks to its multi-asset trading platform, Caplin Trader.
360T offers multi-leg swaps
FRANKFURT - Multi-dealer trading vendor 360 Treasury Systems (360T) is set to introduce multi-leg foreign exchange swap trading on its cross-product trading platform, 360T TEX, in response to client demand.
OMS vendors tackle multi-asset risk
LONDON - Order management system (OMS) vendors are enhancing their multi-asset pre-trade analytics to address the growing trend among financial institutions of broadening the asset classes and geographies in which they trade.
US meltdown spurs central clearer debate
LONDON & NEW YORK - The fallout from the collapse of Lehman Brothers and implosion of insurance company AIG has spurred renewed debate over the central-counterparty model for spot foreign exchange, as concerns over counterparty risk take centre stage.
JPM offers new FX platform
LONDON - JP Morgan last week launched MorganDirect, a new proprietary foreign exchange trading platform that will eventually replace the incumbent JPex system.