Month: April 2002

CFP Issues Revisions to the Model Code

The Committee for Professionalism (CFP) has issued revisions to the Model Code, inserting a new topic on the use of mobile devices for transacting business; an additional paragraph into the chapter on dealing for personal account; updated Swift codes reflecting the move to the Euro; and a re-wording of the definition of an interest rate […]

Currenex Rolls Out Order Management

Currenex has rolled out its fifth pricing mechanism on its site. An order management tool is now available to clients, which sits alongside the request for quote, exclusive quote, fast quote and streaming quote services that are already available. The Currenex offering differs from proprietary order management systems in place at institutions such as Morgan […]

SuperDerivatives Adds Deal Capture Facility

Currency options pricing system SuperDerivatives has incorporated a deal capture function into its core pricing product. The company says this was done specifically at the request of customers in the wake of events at AllFirst Financial. David Gershon, CEO of SuperDerivatives, says, “The AllFirst experience has served as a pertinent reminder that errors, intentional or […]

Barclays Capital Extends Relationship With SFS

Following the joint development of an online trading facility in January 2001, Siemens Financial Services (SFS) has enhanced its internal trading capabilities using Barclays Capital’s FX Trader. James Kavanagh at Barclays Capital says the upgraded version of the existing platform allows SFS to risk manage its own trades directly or via the SFS central treasury. […]

ICAP Automates FRA Matching on the Web

Interdealer broker ICAP’s Web-based forward rate agreement (FRA) matching system, FRA-Cross, launched at the end of January, and has so far completed nine runs averaging 150 trades per run. To date, 40 ICAP clients are signed up to cross euro positions and 36 are crossing sterling positions. The system enables traders of interest rate swaps […]

IKB and Ritro Treasury Services Take Trema’s Finance Kit

IKB Deutsche Industriebank (IKB) and Ritro Treasury Services have become the first users of Trema Group’s latest version of Finance Kit, version 5.1. The company says that the new iteration, which is targeted at large and medium sized banks, offers improved management of call money and call accounts, and introduces asset/mortgage-backed securities. It provides links […]

Atriax Closes after Failed Merger Talks

At time of going to press, it was announced that Atriax was ceasing operations after a “thorough review of market conditions, and having explored various strategic options”, including a merger with other platforms. A source at a shareholder bank of Atriax has confirmed to Profit & Loss that it was that company that made the […]

FX Trading Systems Survey 2002

As online trading starts to have a deeper impact on the FX industry, more institutions are looking at developing the capability. In particular, the second and third tier institutions are faced with a decision on how to provide this service to their clients. Kate Woolfoot and Geraldine Lambe take a look at the solutions offered […]

Macfutures Takes a 3D Perspective

London-based proprietary derivatives trading arcade, Macfutures, has implemented 4D Genie, a market visualisation tool from 4D Trading. According to the software house, Genie presents real time market data in a multi-dimensional, moving format and highlights data relationships, values and correlations in such a way that users are able to absorb and interpret the various data […]

Japan: Sick Man of Asia

By Lara Rhame & Anne Mills, Brown Brothers Harriman With current commentary on Japan and the yen focusing on the financial risks around the fiscal year-end, news on the real economy is usually consigned to a bin labeled “bad news, as expected”. Real economic trends, however, should not be ignored. So far, much of the […]