Trading systems
Interbank lending eases further
LONDON - The Ted spread, along with overnight and three-month Libor, fell for the fourth day in succession after European governments announced bail-out packages on Monday (October 13), and the US followed suit on Tuesday.
Credit Suisse launches currency basket options
LONDON - Credit Suisse has introduced currency basket options on Merlin, its proprietary electronic foreign exchange structured products trading platform, in response to client demand.
Caplin Systems a star onboarder
LONDON - Caplin Systems, a London-based web technology vendor, has signed two major European banks to its multi-asset trading platform, Caplin Trader.
360T offers multi-leg swaps
FRANKFURT - Multi-dealer trading vendor 360 Treasury Systems (360T) is set to introduce multi-leg foreign exchange swap trading on its cross-product trading platform, 360T TEX, in response to client demand.
OMS vendors tackle multi-asset risk
LONDON - Order management system (OMS) vendors are enhancing their multi-asset pre-trade analytics to address the growing trend among financial institutions of broadening the asset classes and geographies in which they trade.
US meltdown spurs central clearer debate
LONDON & NEW YORK - The fallout from the collapse of Lehman Brothers and implosion of insurance company AIG has spurred renewed debate over the central-counterparty model for spot foreign exchange, as concerns over counterparty risk take centre stage.
JPM offers new FX platform
LONDON - JP Morgan last week launched MorganDirect, a new proprietary foreign exchange trading platform that will eventually replace the incumbent JPex system.
OCBC cashes in on Asian DCR growth
SINGAPORE - OCBC Bank expects to see 20% growth in its dual currency returns (DCR) business in Singapore next year, following implementation of a structured deposit pricing and processing system from FinIQ, said bank officials.
Lehman's fall leads to liquidity drought
GLOBAL - Heightened concerns over counterparty credit risk caused a dry-up of liquidity in the currency markets last week, as dealers feared a domino effect from the collapse of Lehman Brothers on Sunday, September 14.
JP Morgan replaces AIG on Currenex
NEW YORK - JP Morgan replaced AIG as the central clearer on Currenex's anonymous trading platform on September 17.
Swedbank takes Siena for rates
LONDON - Swedbank has licensed Eurobase's Siena Rate Manager product to control and publish foreign exchange and money market tradable prices for distribution to multiple execution channels, including FXall.
TraderTools LMP works with FXMS
NEW YORK - TraderTools is enabling users of its liquidity management platform (LMP) to access liquidity from electronic trading platform FXMarketSpace (FXMS).
Elysium attracts six new buy-side clients
STAMFORD, CT - Elysium Technology has added six buy-side clients for GridIron, a foreign exchange aggregation system, and MPTracker, its database management software, in the first half of this year.
New board at FXall
NEW YORK - Jerry Putnam and Eddie Wen have joined FXall's board of directors, replacing Martin Spurr and Henri Foch who did not run for re-election.
StreamBase adds 20 more clients for CEP software
LEXINGTON, MA - StreamBase has signed 20 additional clients to use its Complex Event Processing (CEP) software this year.
Credit Suisse integrates forex algos into Minerva OEM
LONDON - Credit Suisse has become the first broker to integrate foreign exchange smart routing and algorithmic execution strategies into Fidessa LatentZero's Minerva order and execution management system (OEMS), with automated execution services (AES) FX.