Month: May 2004

ABN Brings First Dutch CLS Third Party Live

ABN Amro has made Indover Bank the first bank in the Netherlands to go live as a CLS third party participant. According to ABN, Indover’s subsidiary in Hong Kong will shortly follow suit with fourth party services. As a result, Indover has given a number of additional mandates to ABN, including the implementation of DealStation, […]

FXpress Enhances TMS for FXExposure Mgmt

FXpress Corporation, a provider of treasury risk management software, has released its Foreign Exchange by FXpress 6.5, an enhanced version of its treasury management system for FX exposure management. FXpress is an integrated exposure management, contract trading, back office and accounting system. The latest release builds on previous systems by offering more support for efficient […]

LCH.Clearnet Sees 90% Daily Clearing Rate

LCH.Clearnet says that members on its SwapsClear service are achieving efficiency statistics in excess of 90% of trades matched, confirmed and cleared in one day. LCH’s monthly member steering group meetings provide transparent reporting of efficiency metrics and a forum to consider initiatives that facilitate industry best practice, the group says. It adds that it […]

Oanda Offers Trading Accounts in Seven Currencies

Currency trading and information company Oanda is now offering trading accounts in seven currencies: the euro, US dollar, Swiss franc, British pound, Japanese yen, Canadian dollar and Australian dollar. “Oanda has seen significant growth over the last 12 months both in the number of clients we are now serving and in trading volumes,” says Michael […]

Citigroup’s Jeff Feig: Client Focus

Taking over a world leading organisation is a daunting task, but Citigroup’s Jeff Feig, recently made global head of foreign exchange, is confident that he has a team in place that will enable him to maintain the division’s momentum and drive the business forward. Given the bank’s pre-eminent position in terms of FX trading revenues, […]

FX Index Shows

Slight Gains in FebruaryThe Parker FX Index reports a monthly return of 0.39% for February, with all 49 programmes in the index reporting results. Fifty-seven per cent of the programmes in the index report positive performance for the month, while on a risk-adjusted basis, the index is up 0.31%, and the median return is up […]

West End Capital Hires Yen Strategist

Connecticut-based West End Capital Management, a fixed income investment management firm, has hired Venkat Mandava as a lead strategist for its Japanese yen portfolios. According to the firm, he has extensive experience of the interest rate and derivatives market from his time spent at both Credit Suisse First Boston and Barclays Capital.

CSFB/Tremont Sees March Gains

The Van Global Hedge Fund Index, which provides a broad indication of hedge fund and fund of fund performance (net of fees), rose by 0.1% in March, based upon the performance of more than 800 funds. Fifty-eight per cent of firms recorded positive results for the month, excluding fund of funds, the index returned 0.1% […]

CSFB/Tremont Sees March Gains

The CSFB/Tremont Hedge Fund Index is up 0.28% for March, after rising 1.40% in February. Year-to-date the index is up 3.42%. Managers posted “generally positive returns” for the month, according to Oliver Schupp, president of Credit Suisse First Boston Tremont Index, despite what he terms a “difficult and volatile environment in the equity and bond […]

AXA IM in Discussions with State Street

AXA Investment Managers (AXA IM) and State Street Corporation (State Street) have entered into discussions regarding the transfer of fund administration and investment operations support in the UK, France and Germany to State Street. Nicolas Moreau, CEO of AXA IM, says, “The proposal to transfer key operations functions to State Street would be a consistent […]