Month: November 2006

CME Reports Rise in FX Volume

In other news, CME said last week that foreign exchange volume in October rose 24% compared with the year-ago period, reflecting a rise in volume generally across the exchange. FX volume averaged 407,000 contracts per day with electronic volume increasing 31% from October 2005 to an average 363,000 contracts per day. Overall, volume for all […]

China’s Regulator Steps up FX Supervision

The State Administration of Foreign Exchange (SAFE), China’s foreign exchange regulator, said that it will step up its supervision of trade-related FX dealings starting this month. It will classify enterprises into different categories according to their track record in FX transactions and will strictly check FX sales by firms that have previously been involved in […]

Credit Derivatives Prices Revalued by GFI

The first revaluation of credit derivatives prices in Europe has been carried out by inter-dealer broker GFI in a bid to make one of the biggest financial markets more transparent. Last Tuesday (October 31) GFI revalued tranches of the Itraxx index, a basket of credit default swap prices for European companies, to improve the accuracy […]

CST to Boost CDS Market Share with Chapdelaine Acquisition

UK broker Collins Stewart Tullett (CST) is boosting its market share in credit derivatives in North America with the acquisition of New York broker Chapdelaine Corporate Scurities for $95 million in cash. It says it would combine the company with Tullett Prebon when the two parts of Collins Stewart Tullett demerge in December to form […]

Hungary Among Most Active Sovereigns for Third Month: GFI

Turkey, Brazil, Russia, Hungary and Ukraine were the most active sovereigns in October, according to inter-dealer broker GFI’s monthly report on the performance of global and sovereign credit default swaps. Credit default swaps for the auto manufacturing sector saw the most active trading in the US led by activity in General Motors and Ford, while […]

AMTE Joins European Financial Markets Federation

The Association des Marchs de Taux en Euro (AMTE), also known as the Euro Debt Market Association, has joined The European Financial Markets Federation (EFMF) as founding member along with the European Securities Forum (ESF) and the International Capital Market Association (ICMA). The AMTE will coordinate the secretariat function of the Federation in Paris. ICMA […]

Vietnam’s PM Calls for Speedy Investigation into ABN Amro

Vietnamese Prime Minister Nguyen Tan Dung has ordered police to speed up their investigation into alleged illegal foreign exchange deals between ABN Amro and state-owned bank Incombank, state media reported last Wednesday (November 1). “The State Bank of Vietnam’s inspection of the ABN Amro’s Hanoi branch and an initial police investigation confirmed that ABN Amro’s […]

FXALL Trading Volumes Hit $64 Billion

Trading platform FXall has achieved record volumes of more than $64 billion in a single day. In addition, volume was up 55% in October compared to the same period last year. The increase in trading activity was due to a combination of new clients joining the platform and increased activity from existing users, the company says. […]

SmartStream Technologies Hires CEO

Smartstream Technologies, a straight-through processing systems provider, has appointed Ken Archer as CEO following the company’s recent buyout by private equity firm, TA Associates. Archer has more than 25 years experience in managing large services and software companies. His most recent position was president of European business development at Computer Sciences Corp. and prior to […]