Trading
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
Regulator forces COESfx to close to new clients
PLAINVIEW, NEW YORK – COESfx, a US-based retail foreign exchange platform, was forced to close to new customers earlier this month after a regulator found that its books did not balance.
HUF makes a comeback
BUDAPEST – The Hungarian forint surged last week following positive market sentiment to a government announcement last Monday (October 9).
Managing exposure to forex volatility
Manuel Deijk in the structured FX team at UBS looks at a selection of quantitative methods applied in the implementation of FX risk management policies
Return to volatility brings relief for prop traders
GLOBAL – Last week saw the first significant market volatility for nearly two months as euro/dollar saw its first move out of a 1.26–1.28 trading range for over 50 days.
TradingScreen upgrades its software to give users new hedging capabilities
NEW YORK – Forex technology vendor TradingScreen has introduced FX trading capabilities designed to give users the ability to hedge secondary forex exposure generated by trading in other asset classes.
Vwd expands Tullett package
FRANKFURT – German data vendor vwd has expanded its Data Manager Treasury end-of-day FX and money markets data package with extra information from Tullett Prebon Information, the data arm of broker Collins Stewart Tullett.
BoNY relaunches forex website
NEW YORK – Bank of New York (BoNY) has relaunched its FX website with an upgraded version of the interactive Portfolio Flow Monitor (iPFM), the bank's capital flow product.
Real strength set to continue
Gray Newman, senior Latin American economist at Morgan Stanley in New York, says that the Brazilian unit will be supported by interest rates and continuing growth
Greenback sell-off fails to materialise
Bank of Montreal's (BMo) prediction for a big sell-off of the US dollar in 2006 has failed to materialise, said Jeff Cooper, BMo's vice-president of forex.
Currenex launches catalyst program
NEW YORK – Trading technology vendor Currenex has launched a testing program for third-party software vendors to aid in the development of new products.
Gain Capital attacks markets with NinjaTrader
BEDMINSTER, NEW JERSEY – Forex trading company Gain Capital last week signed a deal with software vendor NinjaTrader to deliver real-time forex pricing and execution services to its customers.
FX volume to exceed $3 trillion by 2007: TowerGroup research
NEEDHAM, MASSACHUSETTS – Global FX daily average volumes will reach $3.6 trillion by 2007, according to research released last week.
Citigroup launches custody services in Sweden
STOCKHOLM – Citigroup's global transaction services business is to provide direct custody and clearing (DCC) services to clients in Sweden.
Wall Street rebrands to expand forex business
SYDNEY – Wall Street Systems has rebranded to reflect the growing importance of foreign exchange to its business.
Human touch will always be needed
Markets have been on the move again this week. Comments from retired Fed chairman Alan Greenspan about the US housing market and noise surrounding China's reserve policy ensured that the greenback at last broke through the 1.26–1.28 range that it had…
Payments industry gathers in Sydney
This year's Sibos conference held in Sydney brought together some 6,500 participants to discuss the latest developments in payment and settlement systems. Here, FX Week brings you some of the news from the eventSwift launches pilot for corporate program
Rennies adopts CheckFree solution
SYDNEY – Rennies Bank, a South African forex specialist, is now employing CheckFree's Accurate NXG straight-through processing solution to help better manage potential operational risk for internal and external customers.
Singapore hosts second FX Week Asia conference
SINGAPORE – On Tuesday (October 17), the second FX Week Asia conference will be held at the Shangri-La Hotel, Singapore. The event brings together leading speakers and buy- and sell-side market participants.
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
Cognotec moves into custody
SYDNEY – Technology vendor Cognotec this week launches a custody service that automates the forex component of securities transactions.
Decoupling is key to Asian strength
Stephen Jen, head of currency research for Morgan Stanley, and Charles St-Arnaud, acting Asian currency strategist in London, say Asian currencies will strengthen once Asia decouples from the US
Students to trade forex, with a $10,000 prize
AUSTIN, Texas – Online forex platform GFT has set up a competition that pits students’ wits against a simulated FX market. The prize is $10,000 with which to trade on the real thing.
Credit Suisse starts algorithmic trading
LONDON – Credit Suisse is developing multi-asset algorithms to complement its Advanced Execution Services (AES) suite of algorithmic trading capabilities, according to an official at the bank.