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

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

News/Foreign exchange

FXMarketSpace launches forex settlement service

FXMarketSpace, the centrally-cleared foreign exchange marketplace established by Reuters and the Chicago Mercantile Exchange (CME) has launched a settlement service.

31 March 2008

News/Foreign exchange

HSBC to introduce POS currency converter for China Olympics

Payments processors Global Payments and Planet Payment are teaming up to introduce a point-of-sale currency converter service for HSBC merchants in China that will enable foreign visitors to the Beijing Olympics to see how much purchases will cost in their own currencies.

25 March 2008

News/Foreign exchange

E-trading driving FX markets - CME Group

FX traders expect electronic trading growth to gain momentum faster than previously expected, says a global survey released by CME Group which predicts that on average, more than 80% of all cash business will be executed electronically in 2010.

19 March 2008

News/Foreign exchange

Reuters profit falls ahead of merger

Reuters has posted a 13% fall in full year pre-tax profit in its final set of results as a standalone company, but says indications for 2008 are encouraging despite the uncertain market environment.

06 March 2008

News/Foreign exchange

China Everbright installs Misys trading and compliance software

China Everbright Bank is rolling out trading and compliance software from British banking systems vendor Misys across its treasury and capital business.

26 February 2008

News/Foreign exchange

Citi releases white label remittance platform

Citi has released QuikRemit, a white-label remittance platform previously supplied by money transfer outfit PayQuik, which was acquired by the US bank in January.

07 February 2008

News/Foreign exchange

Advent Software reports Bear Stearns deal

US investment bank Bear Stearns is rolling out Advent Software's portfolio management and fund accounting platform Geneva across its prime brokerage operations.

06 February 2008

News/Foreign exchange

ICE completes technology overhaul

US market operator IntercontinentalExchange (ICE) says it has completed a two year upgrade of its technology infrastructure which included the transition of its futures markets to a state-of-the-art trading platform.

23 January 2008

News/Foreign exchange

Gain Capital raises $117m funding

Online foreign exchange trading outfit Gain Capital has raised $117 million in a funding round led by venture capitalist 3i and including existing investor VantagePoint Venture Partners.

22 January 2008

News/Foreign exchange

Algorithmics signs Bank of Ireland Global Markets to market risk technology

Bank of Ireland is rolling out market risk measurement and management technology from Toronto-based vendor Algorithmics at its global markets division.

12 December 2007