Month: April 2001

CLS Announces Five New Shareholders

CLS Services, the interbank consortium developing continuous linked settlement for foreign exchange markets, has announced five new shareholders: Banca Intesa, Banco Popular Español, Dexia Banque Internationale à Luxembourg, Sumitomo Trust and Zürcher Kantonalbank. This brings the total number of bank shareholders to 61,says a CLS Services spokesperson, which accounts for “a substantialmajority of the FX […]

Currenex Adds Fenics Option Prices Partners with IFS for Collateralised Trading

Currenex has struck a deal with GFInet to incorporate the Fenics currency options pricing system into its FXtrades Web-based trading service. Users of the service will be able to access options pricing and analysis data generated by Fenics from within FXtrades. For an additional fee, they will also be able to access Fenics’ exotic pricing […]

FX Trading Systems & the Internet

For the second year running, Profit & Loss and Lepus have joined forces to produce a comprehensive survey of the FX trading systems market. Geoff Katesexamines key trends over the past year and offers advice to financial institutions thinking of upgrading their trading systems. The financial trading environment has developed remarkably rapidly over the past […]

Q & A With Polpo Financial Ltd

Company Information: Co mpany Name: POLPO FINANCIAL LIMITED Location: Windsor, Berkshire, UK Contact Name: Philip L. Jones (Director, FX) Product Name: Nexus Currency Program   $25 million Total Assets Under Management: $36 million Firm Inception Date: March 1998 Number of Employees: 6   Return Information Annual Performance 1996 1997 1998 1999 2000 20.29 -5.87 25.69 […]

UBS Warburg Issues Currency Certificates On EUR/USD Exchange Rate

THE FOLLOWING ARTICLE IS AN EXTENDED VERSION OF ONE THAT RAN IN PROFIT & LOSS,MARCH 2001… UBS Warburg has launched a new structured FX product aimed at enabling private and institutional investors to hedge their securities portfolios against fluctuations in the EUR/USD exchange rate. The bank has issued currency certificates that pay out a sum […]

WestLB Launches Multi-Advisor Currency Fund

WestLB is launching a multi-advisor FX programme, the Prospero Currency Fund, through the bank’s Global Financial Markets division. The Guernsey-based open-ended investment company will be listed on the Channel Islands Stock Exchange. The fund will be managed by WestLB Guernsey and run by Mike East, Marc Wall and Ian Evison in London. The fund was […]

HSBC Rejuvenates New York

Less than five years after closing its interbank FX trading operation in New York, HSBC is rejuvenating the centre with a half-dozen hires from Deutsche Bank. Alain Delelis joins as HSBC’s new head of FX trading, sales and emerging markets, reporting to treasurer Joe Petri. Gordon Wu has joined as FX trading manager and William […]

Olesen to Head Global FX Sales for Citibank

New York-based Lars Olesen, Citi’s head of FX e-commerce, has been named as the new head of global FX sales for the bank. He succeeds London-based Martin Dyer, who is leaving the market after 20 years with the bank. Dyer was named to the global role in 1994, and is due to leave the bank […]

IFS Signs Citi Private Bank

Ireland-based IFS has won its first major institutional client for the combined MarginMan-Gate treasury platform. Citigroup Private Bank, which was previously subscribed to the MarginMan system, is to implement the integrated system in a two-phase rollout, initially to its London, Zurich and New York offices, with further overseas locations planned as part of the second […]

VSI completes TraderGold v2 For Ulster Bank

Velocity Systems International (VSI), an Australia-based developer of Internet FX and money market transaction applications, has completed a second release of Ulster Bank ‘s TraderGold, which it says was Ireland ‘s first online FX trading system. Work began on the update soon after initial trades on the first version were performed in June 2000. The […]