Latest Foreign exchange News: Finextra Research

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

News/Foreign exchange

Marfin Popular Bank signs for SmartStream reconciliation platform

Cyprus-based Marfin Popular Bank has chosen SmartStream's TLM Corona as its enterprise reconciliation platform.

21 January 2009

News/Foreign exchange

Standard Chartered deploys Apama FX aggregation software

Standard Chartered Bank has gone live with the Progress Apama FX Market Aggregation Accelerator in a deployment spanning currency trading desks in three continents.

21 January 2009

News/Foreign exchange

GL Trade revenue up, despite fall in OTC system sales and slower front-office growth

GL Trade has reported Q3 revenue up 10.5% to EUR162.8m despite its front-office sales being hit in Europe and sales of its Tradix and Sierra solutions falling worldwide.

06 November 2008

News/Foreign exchange

Wall Street Systems launches post-trade processing utility

Wall Street Systems has launched a "pay as you go" post-trade processing utility for FX cash, FX derivatives, money markets, vanilla interest rate derivatives, and listed futures and options.

15 October 2008

News/Foreign exchange

CME and Thomson Reuters dump FXMarketSpace JV

CME Group and Thomson Reuters are closing FXMarketSpace, the centrally-cleared foreign exchange marketplace established last year, after the venture failed to attract the liquidity levels expected.

10 October 2008

News/Foreign exchange

Bank of America trades wire transfers for environmental rewards

Bank of America has launched Eco-Deduct, an environmental rewards scheme that will see it make donations to a conservation charity for new and increased use of its US$ commercial wire transfer service.

15 September 2008

News/Foreign exchange

CME set to dump FXMarketSpace - report

CME Group is planning to withdraw from FXMarketSpace, the centrally-cleared foreign exchange marketplace it established with Thomson Reuters, according to a press report.

12 September 2008

News/Foreign exchange

UK Post Office trials multi-currency ATMs

The UK's Post Office is rolling out cash machines - supplied by the Bank of Ireland (BoI)- that dispense euro and US dollar bank notes in addition to sterling.

20 June 2008

News/Foreign exchange

Saxo Bank buys online broker Cambiste

Danish online investment bank Saxo has acquired Cambiste, a French provider of Web-based foreign exchange trading services, for an undisclosed sum.

28 May 2008

News/Foreign exchange

State Street Global Markets acquires SSISearch

Investment research and trading outfit State Street Global Markets has acquired UK reference data provider SSISearch. Financial terms of the deal were not disclosed.

22 May 2008

News/Foreign exchange

Banks warned on FX settlement risk

Bank-backed settlement body CLS has responded to a repeated call from the Bank for International Settlements for the industry to do more to crack down on FX settlement risk by outlining new measures and initiatives for eliminating exposures. These include investigating industry support for implementing multiple settlement sessions, which would include the settlement of same day trades.

15 May 2008

News/Foreign exchange

Barclays Stockbrokers launches spot FX trading for private investors

Barclays Stockbrokers has teamed with California-based Integral Development to launch a spot FX trading service for private investors on its Barx platform.

02 May 2008