Month: October 2002

Sharing the Pie CLS Members Carve Out the Future

With CLS now live, you can almost hear the collective sigh of relief uttered by those in certain foreign exchange and technology circles, which now have a system in place that is designed to mitigate settlement risk. As usage increases, the settlement banks are now looking at ways of extending their services to third party […]

Kazakhstan: A Regional Success Story

Kazakhstan has succeeded in stabilising its economy and keeping inflation at low levels; however, the economy is experiencing a slowing in activity after near double-digit growth in 2000 and 2001. The reasons for this are not only lower levels of foreign direct investment (FDI), but also weaker global demand. Although we expect global growth prospects […]

Hotspot Grows User Base

Although the headlines in the multibank online trading space have been grabbed by the demise of Atriax, and to a lesser extent, SunGard’s STN Treasury, as a whole the industry seems to have been making steady progress. One such example is Hotspot FXi, a system that founder and cheif executive officer Dave Ogg says targets […]

Currenex Improves Allocation & Settlement Functionality

Currenex, one of the first online FX portals to launch two years ago, has extended its offering with expanded settlement and allocation functionality. At the same time, the portal is continuing its campaign of linking to banks’ auto-pricing systems. The expanded allocation module enables corporates and funds to specify either default or customisable percentages for […]

MoneyLine Telerate Adds Icap To Swaps Service; TTL Turns to Bloomberg in Response

Financial information provider MoneyLine Telerate has announced plans to enhance its benchmark service, MoneyLine Capital Markets (19900 series). The service will carry more market depth for currency derivatives and additional maturities for volatilities, as well as a new basis swaps page versus three-month Euribor. As part of the move, MoneyLine has dropped Tullett & Tokyo […]

McGraw-Hill Sells MMS

McGraw-Hill Companies has sold MMS International, a unit of Standard & Poor’s that provides real time fixed income and foreign exchange commentary and analysis, to a newly formed company, MMS Group. Terms of the deal were not disclosed, but the move came as a surprise to some in that discussions were believed to have been […]

Can Education Rebuild Interest in FMA-USA?

It has generally been accepted that the FX industry in the US has been in decline for some time. Official data would appear to support this hypothesis. The April 2001 BIS survey on global turnover (see Profit & Loss, November / December 2001) indicated a 27.8% drop in volume in the US. Not only was […]

Standard Life to Join FXall

As revealed in this month’s cover story (see page 12), Standard Life Investments of Edinburgh is to join multibank portal FXall. Standard Life was the first buy side company to transact an FX deal on Atriax, which closed its doors earlier this year (see Profit & Loss, April 2002 & July/August 2002). Phil Weisberg, chief […]

Andres Drobny: Going Against the Grain

Andres Drobny is a man who likes to do things differently. He first got into the financial markets by means of a letter sent to the Financial Times; his professed trading style is to go against the majority; and he has sited a company that is focused on the global financial markets, in California – […]

Parker Indices Drop in July

Following two strong months, the Parker FX Index fell by 1.40% in July, while similarly, the Parker Emerging FX Index also fell – for the second successive month – by 1.94%. In the FX index, 45 out of 46 managers in the programme reported results, 33% of them positive. On a risk-adjusted basis, the index […]