Month: October 1999

NAB Hires Gore For Institutional Sales

Jill Gore will be joining the National Australia Bank’s institutional sales team in London this month. She will have primary responsibility for the UK sector and will help build the bank’s presence in this market. Working with Gore, are Tony Beard and Mary Lawler. Gore will report to Shane Galligan, NAB’s recently appointed FX manager. […]

Is Market Volume Proving Too Hot to Handle?

Dealers at a few Japanese banks in London are asserting that they have experienced problems over the EBS spot matching service in the dollar/yen market. These problems, they say, pertain largely to the market’s dependence upon EBS as the primary trading platform for spot FX (50% of all brokered spot trading in London is now […]

Fundtech Announces PAYplus CLS Solution

Fundtech, which provides electronic payment and cash management systems, has released PAYplus CLS, a system designed to allow CLS settlement member banks to manage the complete life cycle of FX transactions settled via the CLS Bank. The new system provides a complete suite of integrated FX payment and settlement services, including access to the CLS […]

Infinity Introduces Workflow Automation

Infinity, a SunGard Company, says its new Infinity Workflow application can reduce operational costs by automating business processes. The new application interfaces across all Infinity products. The first to be integrated is The Devon System, which provides trade entry and comprehensive processing for a wide range of instruments, including FX, interest rates, futures, securities and […]

“Currency Network” Set For October 1 Launch

A new Internet-based currency news service will launch October 1. The Currency Network will carry news from Reuters, live spot rates in four major currencies, as well as bulletin boards and chat rooms. The service is designed for individual investors, but its founder Michael Hecht hopes it will attract market professionals as well. In the […]

F/X Alert’s Parent Acquired by Aether

Mobeo, makers of F/X Alert, the hand-held financial pager, recently announced its acquisition by Aether Systems, Inc, a leading provider of wireless data services and systems. The acquisition, which is due to close by October 3, combines Aether’s equities, options and mutual funds markets offerings with F/X Alert’s strength in FX. “We’re pleased to become […]

Prebon Predicts Singapore Will Lead The Road to Recovery

Singapore is leading the way to recovery in the Asia-Pacific region, according to Prebon Yamane’s latest Asian Sentiment Survey. After hitting lows at the end of 1998, the recovery in trading volumes continues, with 36% of dealers predicting higher levels of activity in upcoming months, compared with only 8% who foresee a decline. Singapore tops […]

Bank of America Calls on Corporates To “Wake Up” to the Opportunities of CLS

“With CLS (Continuous Linked Settlement) due to go live in just one year’s time, Bank of America believes that most corporates, non-bank financial institutions and some banks still have to grasp fully the impact of the new FX settlement systems and understand the opportunities it may hold for them,” says a statement by the bank. […]

Merger of Three Japanese Banks Unlikely Before Autumn 2000

The planned merger of Dai-Ichi Kangyo Bank, Fuji Bank and Industrial Bank of Japan is unlikely to be completed before Autumn 2000, market sources say. These sources add that all three are active participants in the FX market, so there is likely to be a good deal of overlap in terms of customers. The combination […]

ABN Amro Moves Into New City Dealing Room

ABN Amro Bank has begun migrating into its new dealing room in Bishopsgate. The 50-strong treasury team, which is primarily comprised of FX dealers, moved into the new London head office in August, alongside a 300-position fixed income team. The FX dealers have completed their move, while the rest of the room’s transition should be […]