Month: April 2002

What Type of Recovery?

By Michael Burke, B&M Research The clear signs of economic recovery in the US have transformed market thinking, and have received the official imprimatur from Fed Chairman Greenspan. The new mood of optimism has received strong underpinning from the sharp rise in the ISM/NAPM indices and seems to offer irrefutable evidence that recovery has already […]

Final BIS Figures Published

The Bank for International Settlements (BIS) has published its final figures for the 2001 Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity. The data is little changed from the preliminary data published in October (see Profit & Loss November/December 2001) the headline daily average FX turnover stood at $1.2 trillion as opposed […]

BIS Quarterly Review Highlights Record Exchange-Based Trading

The latest Bank for International Settlements (BIS) Quarterly Review reports that for the fourth consecutive quarter, aggregate turnover of exchange-traded derivative contracts monitored by the BIS achieved a new record in Q4 2001. Activity for 2001 as a whole showed what the BIS terms “a spectacular increase”, with the value of transactions rising 54% to […]

Parker FX Index Starts the Year Lower, Emerging FX Up

The Parker FX Index failed to build on December’s positive end to 2001, falling 0.13% in January. The Emerging FX Index, by contrast, reported its fourth consecutive monthly gain of 1.08%. All 45 programmes in the FX Index reported January results, 56% of them positive. On a risk-adjusted basis the index fell 0.18%; the median […]

Q&A With Foreign Exchange Management

Company Name: Foreign Exchange Management Location: Chrummwisstrasse 58 8700 Küsnacht/Zurich Switzerland Contact Name: Louis Grosjean Phone No: 0041 1 912 08 88 or 912 08 89 Fax No: 0041 1 912 08 88 email: louis@grosjean.ch Product Name: FEM Currency Portfolio Ltd. (Inception Date: Jan. 1998) Product Assests: US$ 9.5 million Total Assets Under Management: US$ […]

Two Australasian Banks Take Reconciliation Systems

The National Bank of New Zealand (NBNZ) and China’s Bank of Communications are to implement SmartStream Reconciliations from SmartStream Technologies, a straight-through processing (STP) systems provider. The NBNZ implementation, at its head office in Wellington, will automate the reconciliation of nostro cash and internal accounts maintained on in-house proprietary systems. SmartStream says its matching rates […]

Reuters Enhances Dealing 3000 Platform

Reuters has enhanced its Dealing 3000 platform by making it compatible with the local US dollar real time gross settlement (RTGS) system in Hong Kong. Additionally, it has added new information sources to Reuters 3000 Xtra from Breakingviews and Pronet Analytics.com. The RTGS enhancement was made available in mid-March, and will shortly be available globally. […]

DKW Uses PFS to Publish Rates

Dresdner Kleinwort Wasserstein (DKW) has reached an agreement with middleware technology provider PFS TraderTools to enable the bank to utilise PFS’ DS2000 gateway for real-time data in their London, Frankfurt, Singapore and New York offices. “We were looking to enhance the existing pricing engine used to publish rates to our various FX Internet trading platforms,” […]

SunGard Acquires Kronos and Introduces Global Margining Server

SunGard Trading and Risk Systems has acquired Kronos Software to add trading and market risk management functionality to its Infinity system. Additionally, SunGard Futures Systems has introduced a real time version of its Global Margin Server (GMS). SunGard says that Kronos’ Web-based trading environment will extend Infinity’s straight-through processing capability to include external sources and […]

Changes at Currenex

Bruce Carmedelle has joined FX trading platform Currenex as chief financial officer, while Karen Steele, formerly vice president of global marketing has left the organisation. Currenex says that Carmedelle will be its key spokesperson to the investment community and oversee all of the company’s financial functions. Lori Mirek, Currenex CEO, comments that his experience could […]