Trading Systems
Credit Suisse signs up more algo clients
LONDON - Nine new clients signed up to use Credit Suisse's algorithmic trading models for foreign exchange in January, according to a senior official at the bank in London.
Pimco reaps "great" currency returns
LONDON & MUNICH - Fixed-income specialist fund manager Pacific Investment Management Company (Pimco) is confident to reap "great" returns from its first currency fund, according to Thomas Kressin, a Munich-based senior portfolio manager at the firm.
FX adds shine to banks' Q4 results
BOSTON & NEW YORK - State Street's acquisition of Currenex led the US bank to a strong 2007 fourth-quarter performance, despite the year's subprime woes.
Rand Merchant Bank to roll out e-trading
JOHANNESBURG - Rand Merchant Bank (RMB), a division of FirstRand Bank, plans to go live with a multi-asset class electronic trading platform by Q3.
Swedbank goes live with e-FX price stream
STOCKHOLM - Swedbank plans to offer streaming foreign exchange rates over its proprietary platform and multi-bank platform, FXall, by the end of this month.
FXall posts record volumes for 2007
LONDON - Multibank portal FXall reported record annual trading volumes of over $13.4 trillion - single count - in 2007, a 37% rise over 2006 figures.
Banks brace for algo trading boom in 2008
As the industry continues to digest the credit market's meltdown, foreign exchange trading volumes continue to boom. Representatives of the major FX banks, Credit Suisse, HSBC and Saxo Bank, discuss the main technology trends in e-FX trading to watch in…
Credit Suisse e-trades exotics
LONDON - Credit Suisse has enabled trading in structured exotic foreign exchange options on its proprietary electronic trading platform, Merlin, with select institutional clients globally, the Swiss dealer said last week.
Fincad launches in the UK
DUBLIN - Financial analytics software and service provider Fincad has expanded its international operations by establishing an EMEA headquarters in Dublin.
StanChart introduces electronic NDF trading
LONDON - Standard Chartered began offering electronic trading in emerging market non-deliverable forwards (NDFs) over proprietary electronic platform Straight2Bank Web and through multi-bank platform FXall on November 13.
Apama users given more algo options
Trading technology vendor Progress Software has integrated the Progress Apama algorithmic trading platform into electonic communications network Accelor.
360T signs up to Harmony
NEW YORK – 360T is set to provide straight-through processing (STP) on multibank platform TEXR Multidealer Trading System and spot FX aggregator Supersonic TEXR using the Traiana Harmony network.
Market demands multi-asset solutions
SINGAPORE - Hedge funds are driving demand for multi-asset platforms in Asia, said Michele Wee, director and head of electronic FX at Deutsche Bank in Singapore.
FXMS and EBS trading back to normal
CHICAGO & LONDON - FXMarketSpace and electronic spot broker EBS recorded a decline in average daily volumes in September, demonstrating a return to normal levels of trading after a highly volatile August.
SWFX smashes trading volume record
GENEVA - SWFX, a Geneva-based trading platform, reached a record $10 billion traded on August 16. The platform, aimed at institutions, banks, hedge funds and private investors, has averaged daily volumes of $6 billion a day this year. This represents a…
Capital enters retail FX
LONDON - Capital Forex, the FX arm of online trading company London Capital Group, is white-labelling Currenex's technology to break into the retail foreign exchange market.
Banks pilot OCL pre-settlement tool
LONDON – Two banks are piloting a pre-settlement netting solution developed by post-trade technology vendor Options Computer (OCL) to manage back-office capacity constraints brought on by high- frequency trading ( FX Week, July 16).
Banks pilot OCL pre-settlement tool
LONDON – Two banks are piloting a pre-settlement netting solution developed by post-trade technology vendor Options Computer (OCL) to manage back-office capacity constraints brought on by high- frequency trading (FX Week, July 16).
Record trading day for Hotspot FXi
LONDON & NEW YORK – A spike in currency market volatility last Thursday (August 16) resulted in a record trading day over electronic communications network Hotspot FXi, led by client-to-client trading activity.
Buyers line up for final FXCM stake
Final bids for a 35% stake in online trading company FXCM were due last Friday (August 3). The stake has been held by the creditors of defunct futures broker Refco since its collapse in October 2005. Refco acquired the share in 2002 for an undisclosed…
New technology boosts retail FX volumes
BOSTON & LONDON – New technology has been behind booming daily volumes in the global retail FX market, according to Catherine Hardiman, London-based head of Deutsche Bank's retail platform dbFX.