Currency
Hotspot extends reach
JERSEY CITY, NJ - Agency broker and market-maker Knight Capital Group has connected foreign exchange and fixed-income trading platforms - HotSpot FX and BondPoint, respectively - to the Secure Financial Transaction Infrastructure (SFTI) network from NYSE…
Non-banks drive up Hotspot volumes
JERSEY CITY, NJ - HotspotFX reported a 107.9% rise in average daily volumes to $35.2 billion - double count - in April, versus $16.9 billion last year.
Citi sales reorg after Jan Bak departure
LONDON – Citi has reorganised its institutional sales team with the departure of Jan Bak, head of non-UK European institutional sales in London.
SEB targets Asia growth
SINGAPORE - SEB has relocated Seppo Leskinen, chief investment officer of the SEB Multi-Manager Currency Fund, to Singapore from London, to leverage demand for currency management by investors in the Asia Pacific region.
Bank FX price feeds fall short
LONDON - Banks must improve their foreign exchange pricing and trading infrastructure or risk losing order flow, according to currency traders.
Asia's currencies steady under pressure
Callum Henderson, global head of foreign exchange research at Standard Chartered in Singapore, says the Asia play is far from over, despite the recent pullback in the region’s currencies
SmartTrade bows OTC pricing tool
French trading systems vendor SmartTrade will this week announce a new component to its liquidity management system for dealers to distribute customised prices on over-the-counter instruments to clients.
CIBC continues to grow
NEW YORK - CIBC has made two hires in its financial solutions group in New York, as it increases its presence in the city.
FXall adds trade analytics
NEW YORK – Investment Technology Group (ITG) launched a transaction cost analysis service in co-operation with trading platform FXall, last week.
Chinese forex regulator warns against 'hot money'
BEIJING - Xiaoyi Wang, deputy governor at the State Administration of Foreign Exchange (Safe) has warned against the inflow of 'hot money' into emerging markets, as the risk of a worsening asset bubble continues.
UBS FICC revenues up in Q1
ZURICH – UBS experienced improving data from its fixed income, currencies and commodities (FICC) business in the first quarter, largely benefiting from a turnaround in the credit business.
FXCM to buy ODL Securities
FXCM is acquiring troubled online trading company ODL Securities, pending a final due diligence review and regulatory approval.
Brazil raises intervention stakes
Nick Chamie of Royal Bank of Canada in Toronto reports on Brazil’s stance on intervention, as relayed by its finance minster at the Brazil Summit in April, and predicts how this will affect the real
Bilateral collateral agreements up in 2010
SAN FRANCISCO - Bilateral collateral agreements make up 83% of all collateral agreements in circulation in the over-the-counter derivatives market this year, versus 75% last year, according to a survey by the International Swaps and Derivatives…
High-frequency trading will be 40% of market by 2012
BOSTON - High-frequency traders could win from the introduction of central clearing in over-the-counter markets, according to research by Boston-based consultancy Aite Group released last week (April 26).
Progress releases single-bank portal FX adapter
NEW YORK - Complex event processing (CEP) platform vendor Progress Apama has introduced a suite of single-bank portal adapters for its Apama Capital Markets Framework, which are available today (May 3).
Euro crisis sparks record e-trading
LONDON & CHICAGO - Heightened concerns over the contagion risks of the Greek fiscal crisis to periphery economies last week led to record trading days on electronic trading systems.
TXC live with Tokyo co-location facility
TOKYO – Trading Cross Connect (TXC) went live with its Tokyo co-location facility on April 15, using a network and data centre solution from Tokyo-headquartered KVH.
ETF Securities: Listed currency products in demand
LONDON – ETF Securities reported assets of $120 million in its currency-linked exchange-traded portfolio as of April 23, signalling increased demand for these products.
Parker FX: Discretionary approach gets better returns in March
STAMFORD, CT – The Parker FX Index reported a 0.78% return for the month of March, when the US dollar continued to appreciate relative to the majors, with the DXY Index gaining 0.62%.
CME posts record euro FX volumes
CME posted a record trading day for euro FX products with a total $98.2 billion traded yesterday, as S&P downgraded Greek debt to junk status.
Clients drive cross-asset trading
LONDON - Increased demand for cross-asset trading by hedge funds and asset managers will force the merger of foreign exchange and derivatives businesses, according to panellists at the FX Week webinar, FX technology arms race: the battle for market share…
Banks widen scope of IT budgets
Speakers at the FX Week webinar, FX technology arms race: the battle for market share, last Tuesday (April 20) covered a wide range of issues facing the industry post-crisis, including regulation, customers' increased demands and post-trade processing.
FXall to release pre- and post-trade data analytics
NEW YORK - Foreign exchange electronic communications network (ECN) operator FXall plans to introduce a set of pre- and post-trade analytics based on the trading trends officials observe within the firm’s trading platforms.