Month: September 2006

More Bite to BARX as BarCap Adds PowerFill…

Barclays Capital has launched BARX PowerFill, an addition to the bank’s BARX for FX Trading platform, for the algorithmic trading of foreign exchange, specifically aimed at larger order types. PowerFill technology is already in use at BarCap’s FX trading operation to determine trade execution styles while minimising hedging costs. BARX PowerFill now brings these same […]

…Partners with Integral for White Label FX Platform

In other news, Barclays Capital has partnered with Integral Development to develop a white label foreign exchange dealing system aimed at regional banks and brokers that enables downstreaming of liquidity and functionality. BARX FX White Label will launch in November say officials and includes a range of liquidity controls for clients’ trading desks and features […]

LavaFX Adds Time Slice Order Capability

Trading technology provider, LavaFX has released new algorithmic trading functionality providing users of its platform with the ability to time slice orders. Timeslice is intended to enable traders to execute orders (typically in larger amounts) over a period of time with minimal market notice or impact. The orders are customisable and work invisibly by sending […]

SocGen to Realign FX

Société Générale Corporate & Investment Banking plans to realign its foreign exchange business within a new Fixed Income, Currencies and Commodities (FICC) division early next year. Following in the footsteps of other heavyweights, including Merrill Lynch, which set up a FICC business this summer (Profit & Loss, September 2006), the French bank will create the […]

ISE to List FX Options

The International Securities Exchange (ISE) says it intends to create and list new foreign currency options in early 2007 pending regulatory approvals and has signed an agreement with Reuters to provide the underlying data. Similar to existing equity and index options products, ISE FX Options will trade in US dollars and will be available through […]

CME Adds Won

Chicago Mercantile Exchange (CME) has secured five banks as market makers for its CME Korean won currency futures contract, which was launched on September 18. The banks are Development Bank of Singapore, Korea Development Bank, Korea Exchange Bank, Standard Chartered Bank and Woori Bank. CF Wong, CME managing director for products and services, Asia says, […]

GFI Completes First OTC Rouble Basket Trade

Interdealer broker GFI has completed the first interbank OTC rouble basket trade. It was a six-month trade, notional $100 million with an at-the-money forward strike price of 29.70, a spokesperson says. The weighted ratio was 60% USD, 40% EUR at 5.0 volatility. Steve McMillan, GFI’s senior managing director, Europe, says, “Currency basket volatility is a […]

Icap and LSE in Merger Talks

Inter-dealer broker Icap and The London Stock Exchange have held talks about merging to create one of the most powerful trading platforms in the world, according to the Sunday Times newspaper. The paper, which did not name its sources, said the talks, held over several weeks during the summer, aimed to create the “all-British solution” […]

Barclays Capital Hires Director in FX Sales

Barclays Capital has appointed Eric Schatz as a director and team leader for real money FX sales, Americas. Based in New York, he will report to Gregg Chow and James Bergin, managing directors and co-heads of FX sales, Americas, who also joined the bank in the summer. Schatz joins BarCap from Citibank where he worked […]

Global Bodies Focus on Imbalances and Asia

The G7 finance ministers, IMF and World Bank annual meetings took place in Singapore last week where global imbalances, Asian currency appreciation and Asian financial integration were key themes. In a research report, ABN says “While G7 (and IMF) officials have argued that flexibility and appreciation of Asian currencies would help rectify global imbalances, the […]