Market data
Return of the voice broker
Cantor Fitzgerald revives voice broking market with spin-off firm. NEW YORK - Cantor Fitzgerald reversed a trend of consolidation in the broking market last week by spinning off a new firm to focus exclusively on voice broking.
Rate differentials bolster peso trading
MEXICO CITY – Speculation on the direction of US interest rates is bolstering already high levels of trading in US dollar/Mexican peso.
Currency transfers for multiple entities
Straight-through processing FX for intra-company transfers used to be impossible. Royal Bank of Scotland’s Stamos Fokianos explains how this can now be done via RBS FiX
Bloomberg and Cognotec partner on streaming rates
LONDON – Bloomberg is bringing streaming FX rates to users of its Bloomberg Professional terminals, courtesy of a joint venture with FX vendor Cognotec, the two firms will announce today (August 2).
ABN Amro launches IR Mini-Swaps for the risk averse
LONDON – ABN Amro has launched an interest rate hedging tool for clients who do not want to use derivatives to gain exposure to this market.
Dollar vol could be back
LONDON – The global currency markets could be in for a bout of unseasonal volatility and trading activity if the US dollar breaks through its recent range against the euro, traders said last week.
Making amends for seasonal trends
Lower volatility and range-bound markets call for capital preservation with enhanced yields during the summer, says Jeffrey Lins, director of quantitative analysis at Saxo Bank in Copenhagen
US regulator loses retail fraud case appeal
CHICAGO – US regulator the Commodity Futures Trading Commission (CFTC) has lost an appeal to assert its jurisdiction over a retail FX trading firm it accused of fraud. Appeal court judges found in the test case of the futures regulator and AlaronFX of…
EBS Live doubles data delivery frequency
LONDON – Electronic broker EBS last week announced an enhancement to its recently launched direct data feed EBS Live to double the frequency of its FX spot rate ‘time slices’ to 500 milliseconds.
Euro doubts remain despite EC growth forecasts
LONDON – Economic growth in the eurozone is set to exceed the European Commission’s forecast of 1.7% in 2004, it said in its quarterly report last week – but analysts remain sceptical that this will be enough to sustain the euro’s current rally.
Rupiah vol ahead as elections continue
JAKARTA – The Indonesian rupiah continued to rise last week, hitting 9,000 against the dollar following a smooth first round to the country’s first-ever presidential elections. But market participants are wary of the medium-term outlook as the country…
Hotspot adds market makers
NEW JERSEY – Hotspot FXi has added six banks to its institutional trading marketplace to act as market makers and prime brokers. BNP Paribas, HSBC, HVB Group, Société Générale (SG) and WestLB are now all live on the platform providing streamed prices to…
Reuters sees sales turnaround
LONDON – Reuters chief executive Tom Glocer last week announced the first positive month for sales since May 2001. Speaking at an investor's conference in London, Glocer said sales of the vendor's data and technology products in May 2004 exceeded…
Long-term solution for dollar/rupee liability
With the Indian rupee rising and a low federal funds rate, Amit Bansal, head of treasury at Barclays Capital in Mumbai, proposes a solution for a corporate to take advantage of the inverted swap points
ACI Congress debates future
LONDON – The European forex community gathered in London last week for the ACI European Congress hosted by ACI UK. Among the contentious issues discussed during the three-day event were operational risk, the future of the European Union and trading in…
CME and Reuters pool liquidity
LONDON – Trading systems vendor Reuters and the Chicago Mercantile Exchange are bringing together their pools of buy-side and sell-side liquidity in what may be the first move towards an exchange model for the FX market.
ACI European Congress: exhibition preview
Delegates at the seventh ACI European Congress this week will have plenty to keep them busy, as vendors and banks line up a vast array of product demonstrations and promotions.
CLS is 'changing the front-office'
LONDON – The continuous-linked settlement (CLS) service for FX trades has changed credit and trading practices among the majority of its users, reveals research from IT consultancy TowerGroup to be published this week.
Vendors gather for DWT
LONDON – FX and trading technology vendors are gathering in London this week for the tenth annual Dealing with Technology exhibition.
Traders’ perceptions of market timing
Jeffrey Todd Lins, director in quantitative analysis at Saxo Bank in Copenhagen, discusses the importance of timing in making trade decisions following an economic release
Banks compete for e-FX talent
LONDON – Dealers combining technological and sales expertise are in short supply as banks compete to secure staff that can aid their success in the growing online FX market.
Data sets tone for firmer dollar
NEW YORK – Much stronger than expected economic data from the US last Friday has set the tone for a firmer US dollar this week – potentially putting an end to the nervousness that has kept some clients out of the market in recent days.
NAB options desk "open again"
MELBOURNE – National Australia Bank (NAB) has resumed limited trading in currency options, as an April 30 deadline to amend its shortcomings passed last week.
News and research firms set to diversify
NEW YORK – News and research firms are looking to diversify their offerings following the recent take-over of currency analysis firm MMS by publishing group Informa Global Markets, said officials.