Settlement risk
SPECIAL FEATURE: CLS settlement: the next five years
This month marks the five-year anniversary of CLS. FX Week and Rob Close, president and CEO of CLS Bank, discuss the past five years and the future of the industry utility
CLS must evolve, or face competition
As CLS enters its sixth year of operations, the global settlement system continues to be at the centre of much debate. Although the fallout from the credit crisis has underscored the benefits of a system that ensures all legs of a transaction are settled…
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).
CLS settles record volumes in August
LONDON & NEW YORK – CLS Bank International has posted record volumes for foreign exchange payment instructions settled in August, amid heightened activity in the FX markets.
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).
Dealing with capacity constraints
Surging ticket volumes from algorithmic traders are leading to calls for change from dealers facing capacity constraints at their back offices.
Banks sign up for pre-settlement netting
NEW YORK – Several banks have signed up for an interbank pre-settlement netting solution due for launch by post-trade technology vendor Traiana in coming months, a senior official at the company told FX Week .
Banks sign up for pre-settlement netting
NEW YORK – Several banks have signed up for an interbank pre-settlement netting solution due for launch by post-trade technology vendor Traiana in coming months, a senior official at the company told FX Week.
DEALHub to launch netting service
NEW YORK – Post-trade technology vendor DEALHub is planning to launch a pre-operations netting service for the interdealer market, to manage back-office capacity constraints brought on by the rise in FX trading volumes.
Keeping pace in an explosive market
Rick Schumacher, product manager at Wall Street Systems in New York, explores recent transformations in the FX market and the new challenges and opportunities these present for banks
BIS confirms continuing importance of carry trade
BASEL – Foreign exchange carry trades continue to be a main driver of global exchange rate movements, according to the Bank for International Settlements’ 2007 annual report, released on June 24.
BIS report notes low volatility
LONDON – FX markets were characterised by high levels of turnover and historically low volatility in 2006, according to the Bank for International Settlements' (BIS) 77th annual report, released today (June 25).
CLS Bank posts daily record for payment instructions
NEW YORK – Last Wednesday (June 20), CLS Bank International posted a new record for the value of payment instructions settled in one day. The bank settled 604,860 payment instructions with a gross value of $7.28 trillion, beating the previous record of …
BIS report highlights trade growth
BASEL – Trading in currency, interest-rate and equity products continues to grow, according to the latest Bank for International Settlements (BIS) quarterly review released last Monday (June 11).
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
FXMarketSpace volumes continue to rise
LONDON – Average daily trading volumes on FXMarketSpace rose 54% in May, indicating steady growth over the platform, say analysts.
Trading Places
HSBC, Joseph De Feo, Merril, Nixon, Citi, Bear Sterns, Credit Suisse, Calyon, RZB, WestLB, ANZ, CMC
BIS review reveals slowing growth in OTC derivatives
BASEL – Growth in over-the-counter FX derivatives slowed in the second half of 2006, rising only 5% versus 21% in the first half of the year, according to research released last week.
To net or not to net? That's CLS's question
He who shouts loudest will be heard? If the old adage is true, then settlement platform CLS should be moving into netting.
Market nonchalant about FXMS data
CHICAGO – Market participants largely shrugged off volume data released by Reuters/Chicago Mercantile Exchange (CME) joint venture platform FXMarketSpace last week, claiming it is too early to judge the success of the platform.
Feeling the strain of high-volume trading
The decision to roll out netting services by electronic communications network Hotspot FXi demonstrates initiative on the platform's part.
How Mifid affects the global FX market
Mifid will create an even more efficient market for FX services that can be delivered quickly, inexpensively and globally, says Chris Pickles , chair of its Joint Working Group in London
Extending forex market reach
There is great scope for further integration between FX and interest rate swap markets, says Philip Whitehurst of independent developer MID Analytics in London