Trading systems
Thomson Reuters reduces price granularity in three currencies
Mexican peso, South African rand and Russian ruble are now priced at a minimum tick size of five pips rather than single pips, taking Thomson Reuters Matching a step further away from decimalisation
Future of e-FX will be cross-product, says Citi’s Bibbey
Richard Bibbey, Citi's new head of e-FX trading, believes the landscape is changing and successful banks will be those that can leverage technology across products and asset classes
FX platform pricing needs a rethink, say banks
Greater transparency on fees at some new trading platforms is a welcome development, with banks calling on incumbent platforms to rethink their fixed costs, as well as the discounts they offer to incentivise volume
Integral sought investment from EBS, court documents reveal
During preliminary talks, EBS chief executive refused to sign a non-disclosure agreement, which would have prevented it from hiring Integral executives, according to testimony in the legal battle between Integral and its co-founder, Viral Tolat
State Street's Bond fixes sights on new initiatives
Appointed as Cliff Lewis’s deputy last year, Martine Bond has since stepped up to run trading and clearing within State Street’s Global Exchange business, managing both Currenex and FX Connect
Integral pursues lawsuit against former CTO and co-founder
In a long-running case between Integral and Viral Tolat, its co-founder and now chief technology officer at EBS, Integral alleges Tolat misappropriated its trade secrets
BBVA to launch corporate-focused FX platform
Spanish bank will roll out BBVA eMarkets later this year, with an initial focus on FX and money markets, says global product manager Alan Clarke
Liquidity mirage continues in FX, despite platform efforts
Several FX trading platforms have taken steps to prevent price flashing and other disruptive practices, but some participants remain concerned about the quality of liquidity that is shown by platforms and aggregators
FX Week USA: Speed bumps not the way forward for platforms
The use of randomisation to effectively insert a speed bump into incoming orders on platforms is dismissed by panellists at New York conference
Most innovative bank e-trading platform: BNP Paribas
BNP Paribas developers looked outside the world of finance for inspiration when developing Cortex FX, and the new platform’s functionality has won widespread plaudits from clients
Best professional e-trading venue: EBS
EBS wins the award in recognition of the thought leadership role it has taken in FX execution over the past year, which has won the support of many of the platform's users
Business as usual for Hotspot under new ownership, says platform chief
Delivering technology to tackle client problems is central to the mission of KCG, the new parent company of Hotspot FX, according to Albert Maasland, head of global execution services and platforms
Thomson Reuters acquires Tradeweb FX options platform
Clients of the Tradeweb platform will migrate to FXall where they will get "more diverse access to liquidity", says chief executive Lee Olesky
SurfacExchange faces uncertain future
Market participants report the multibank FX options platform that launched in mid-2011 has gone quiet in recent months following the exit of its chief executive
Options platforms struggling with dearth of liquidity takers
Some FX options platforms have struggled to gain traction in a new and untested market, but banks say the problem is one of low demand for, rather than provision of, liquidity
UniCredit eyes growth in institutional FX without e-commerce focus
As the Italian bank looks to extend its client footprint into the institutional space, further development of its FX platform is not a central part of the strategy
Aggregation hampered by predatory execution
New aggregation guidelines from EBS could help to increase transparency of aggregation, but the relationship between liquidity makers and takers remains strained
EBS takes aim at maligned aggregation practices
Icap’s EBS is setting out new best practices on aggregation and will only connect to aggregators that adhere to them, as it seeks to further overhaul the experience of its liquidity consumers
ParFX targets buy side inclusion by Q4
The platform will open its doors to non-bank market participants later this year in what will be the real test of its level-playing-field design
StanChart expands e-FX experience into credit and rates
Following a reorganisation of its electronic trading business at the start of 2013, Standard Chartered’s Chris Knight now has responsibility for e-commerce in the eastern hemisphere across three asset classes. He talks to Joel Clark about what credit and…
Buy-side vendor Charles River taps 360T for FX
360T to connect Charles River to FX dealers and regional banks, removing the manual processes currently required to trade currencies through its investment management platform
Consensus lacking on optimal length for randomised pause
The concept of applying a randomised pause to FX trades as a means of deterring disruptive behaviour has garnered support from the users of both EBS and ParFX. But how long should the pause be in order to be effective but not damaging to genuine…
Westpac partners with Broadway Technology for aggregated solution
Australian bank replaces in-house aggregation tool with a white-label offering to increase capacity
Hotspot reduces 'last look' response time by 100 milliseconds
Although the platform reports the cut has already had a positive effect, dealers working outside Hotspot's base in New York could experience latency issues