Foreign exchange
CME widens footprint and connectivity
CHICAGO – The Chicago Mercantile Exchange (CME) has outlined plans to broaden its global FX footprint and improve international connectivity.
Reuters develops Mifid data solutions
LONDON – Reuters is developing a series of tools aimed at meeting data requirements under Europe's Markets in Financial Instruments Directive (Mifid).
BNP Paribas gains in London, loses in Paris
LONDON & PARIS – BNP Paribas has appointed Peter Snasdell to a senior FX sales role in London.
FXDD launches PowerTrader platform
NEW YORK – Online FX trading company FXDD has partnered with an undisclosed prime broking bank to launch a platform targeting institutional investors. The platform, called PowerTrader, is a white-label product that uses a prime broker to access pricing…
Banks gear up to fight online traders
Last week provided some interesting insight into the insecurities some banks are suffering from vis-à-vis online trading companies.
EBS adds NZ dollar to platform
Interdealer broker Icap is adding the New Zealand dollar to EBS Spot, its spot broking platform, on April 26.
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
When opportunity comes a-knockin'
In the past few weeks, FX Week has looked at opportunities the retail forex market presents for banks.
Merrill Lynch to boost FXPB
LONDON – Merrill Lynch looks to be building up its foreign exchange prime brokerage (FXPB) capabilities, with the hire of Roger Allen in London.
Wall Street Systems realigns technology profile
NEW YORK & LONDON – Technology vendor Wall Street Systems has repositioned its products in an attempt to target banks in addition to corporates.
WestLB relocates Asian forex hub to Sydney
SYDNEY & Düsseldorf – WestLB is relocating the Asian hub for its 24-hour FX trading business from Singapore to Sydney.
RBS builds macro team
LONDON – The Royal Bank of Scotland Global Banking and Markets has established a new macro proprietary trading team in London.
FXMarketSpace build-up continues with eight hires
LONDON, NEW YORK & CHICAGO – FXMarketSpace, the Reuters and Chicago Mercantile Exchange (CME) joint-venture platform, has made eight new hires ahead of launch at the end of this quarter.
GFI gains Fenics FX client in Singapore
SINGAPORE – A major Singapore bank, thought to be DBS, is deploying foreign exchange option pricing and risk management software, Fenics FX, from interdealer broker GFI.
Bullish results for US investment banks
LONDON & NEW YORK – US investment banks have continued to report year-on-year growth, in first quarter results released last week.
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
AIG launches emerging markets FX indexes
NEW YORK – AIG Financial Products last week launched emerging-markets (EM) foreign exchange indexes, to leverage the continued investor interest in the area.
EBS to expand EM capability
SINGAPORE – Spot broker EBS plans to expand its emerging markets capabilities with a number of new currencies set for launch in the coming months.
Gain Capital rolls out web-based platform
BEDMINSTER, NEW JERSEY – Gain Capital has launched a Windows-based margin trading platform for institutional and individual investors.
CFTC stings Pioneer for record-keeping lapses
WASHINGTON, DC – The US Commodity Futures Trading Commission has fined futures commission merchant Pioneer Futures $25,000 in civil penalties, for failing to keep up-to-date records.
BarCap loses three in Asia
HONG KONG – Barclays Capital has lost three members of its foreign exchange team in Asia, market sources told FX Week .
BoA hit by spate of forex departures
LONDON & NEW YORK – Gaps are widening within Bank of America's FX operations, with a flood of departures last week.