Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Online platforms displace telephone as primary FX trading channel

Electronic trading in foreign exchange continued to gain ground in a contracting market last year, overtaking the telephone as the primary channel for customer dealing, according to research by Greenwich Associates.

11 May 2010

News/Foreign exchange

CME sues Canadian FX broker over trademark infringement

The CME is suing a Canadian foreign exchange broker, accusing it of trademark infringement and cybersquatting relating to the Globex name, according to Crain's Chicago Business.

16 April 2010

News/Foreign exchange

Finance IT jobs market shows first sign of recovery

In a tentative sign of economic recovery, demand for permanent IT staff at financial services firms has started to outstrip the call for contractors in the early months of 2010, according to recruitment outfit McGregor Boyall.

01 April 2010

News/Foreign exchange

Morgan Stanley Matrix founder heads to UBS

Hishaam Caramanli (formerly Mufti-Bey) has joined UBS as head of Global Securities - Client Facing Technology

12 March 2010

News/Foreign exchange

Currensee raises $8 million funding to fuel international expansion

Currensee, a social media platform for foreign exchange traders, has secured $8 million in Series B funding, which it will use to finance expansion into international markets in the UK, Europe and Asia.

23 February 2010

News/Foreign exchange

Post-trade automation top priority for FX traders and hedgies

The credit crisis and rise of electronic trading have led to a fundamental shift in the global foreign exchange market towards risk mitigation over the last couple of years, according to research from CME Group.

22 February 2010

News/Foreign exchange

First Derivatives to buy cash-strapped Cognotec

Capital markets tech house First Derivatives has struck a deal to buy Cognotec, the Irish FX dealing systems provider that went into receivership last week. Financial terms have not been revealed.

03 February 2010

News/Foreign exchange

Cognotec goes into receivership

Irish software firm Cognotec, a supplier of FX dealing systems to the global banking market, has gone into receivership after its business took a nosedive during the economic downturn.

29 January 2010

News/Foreign exchange

Thomson Reuters woos high-frequency traders with microsecond access to news

In a bid to woo high-frequency traders in London and Chicago, Thomson Reuters has launched a market data delivery service promising microsecond access to "market moving" machine readable news content.

25 January 2010

News/Foreign exchange

Finextra and the FISD partner for webcasts in 2010

The Financial Information Services Division (FISD) and Finextra have forged a partnership to deliver a series of video webcasts for market data and risk management professionals worldwide with a focus on real-time data management and delivery, reference data, and standards.

06 January 2010

News/Foreign exchange

Citi to sell LavaFX platform to FXall

Electronic multi-bank foreign exchange trading portal FXall has agreed to buy rival platform LavaFX from Citi. Financial terms of the deal were not disclosed.

04 January 2010

News/Foreign exchange

Forex social media start-up creates own currency

Currensee, the start-up social network for personal and professional forex traders, is to start issuing its own virtual currency which can be exchanged for goods and services over the site.

19 November 2009

News/Foreign exchange

CLS Bank to establish FX trade data repository

Foreign exchange settlement outfit CLS Bank is to establish a trade data repository for the global FX market, in a move designed to head off regulatory pressure for more transparency in the over-the-counter currency markets.

29 October 2009

News/Foreign exchange

Deutsche Bank marches on China

The Agricultural Bank of China (ABC), China Merchants Bank and China Minsheng Banking Corp. Ltd (CMBC) have each signed seperate payments services agreements with Deutsche Bank.

14 September 2009

News/Foreign exchange

BarCap takes minority stake in TradeWeb; unveils FX trading tools

Barclays Capital has taken a minority equity stake in TradeWeb, a provider of online markets owned by Thomson Reuters and a group of dealer-brokers. The size of the stake, nor the amount paid, was disclosed.

11 September 2009

News/Foreign exchange

Three more banks join CLS/Icap FX joint venture

Bank of America, Credit Suisse and Morgan Stanley have joined four other founder banks in supporting the CLS/Icap joint venture to provide trade aggregation services in the over-the-counter FX market.

27 July 2009

News/Foreign exchange

FX trading technology spending on the rise - survey

Spending on electronic foreign exchange trading technology is set to soar with an "arms race" taking hold as firms look to improve execution speed, according to a survey from CEP vendor StreamBase.

09 June 2009

News/Foreign exchange

Akbank automates treasury confirmation with SmartStream

Turkey's Akbank has selected SmartStream's TLM Corona to automate foreign exchange, money markets and derivatives confirmations matching.

07 May 2009

News/Foreign exchange

SuperDerivatives signs ICBC (Asia)

ICBC (Asia) - the Hong Kong arm of Industrial and Commercial Bank of China - is rolling out technology from SuperDerivatives to support its foreign exchange and interest rates derivatives activity.

02 March 2009

News/Foreign exchange

Forex Capital Markets to buy Hotspot FX retail business

Forex Capital Markets (FXCM) has inked a deal to acquire the retail foreign exchange business of Knight Capital Group's Hotspot FXr. Financial terms of the deal were not disclosed.

30 January 2009