Day: 2 April 2007

The 2007 Profit & Loss Digital FX Awards: “Eye on the Client”

Speaking to users of platforms throughout the previous year, it has rapidly become apparent that rather than congregate in an ever-decreasing number of banks, the FX market – especially in terms of single bank platforms – appears to have become slightly more democratised. Whether this is due to the customers themselves reflecting concerns over too […]

Micex Celebrates 15 Years

The Moscow Interbank Currency Exchange (Micex), which contributed to the creation of market mechanisms to determine the exchange rate of the Russian rouble, celebrated its 15 year anniversaryin March at a special ceremony. Micex president Alexander Potemkin said the exchange has made an important contribution in attracting investments in the country’s economy. “As a result, […]

Travelex Launches White Label Solution

Travelex, the world’s largest non-bank foreign exchange payments company, has unveiled a new foreign exchange service, Travelex Trade, that can be used by financial institutions not yet offering currency services, to help provide foreign exchange to their customers while increasing revenue streams for their business. Brian Eagle-Brown, head of Travelex Trade UK, says, “There have […]

Standard Chartered Launches Asian Non-Deliverable IRS

Standard Chartered Bank has launched non-deliverable interest rate swaps (NDIRS) based on the Indian rupee, Korean won, Taiwan dollar and Thai baht on the Bloomberg Professional service.   The bank says it is the first to market with e-commerce Taiwan dollar, Indian rupee and Thai baht NDIRS. Tom Roche, global head of e-commerce, rates and […]

Dow Jones Launches News Feed for Algorithmic Trading

Dow Jones has become the latest company to cash in on the rising popularity of algorithmic trading with the launch of a feed that delivers XML-formatted news directly into quantitative analysis models and automated trading programs. The Dow Jones Elementized News Feed is designed for both buy and sell side companies involved in algorithmic trading, […]

Japanese Retail Traders Hit With Penalty Taxes on Unreported FX Profits

More than 100 Japanese retail traders have been penalised by tax authorities in the last half of 2006 for failing to declare JPY2 billion in profits earned through foreign exchange margin trading. The law in Japan states that profits earned through FX margin trading is taxable as an individual’s miscellaneous income. However, according to the […]

Reuters Reports Favourable Outlook for 2007

Reuters says it expects 2007 underlying revenue growth of at least 6%, up from 4.8% in 2006, and stronger margins after an expected 8% fall in 2006 trading profit. The year had got off to a strong start with an enterprise agreement with HSBC, says CEO Tom Glocer. Favourable conditions in core financial markets and […]

AIG Launches Emerging Markets FX Indices

AIG Financial Products has launched the AIG Emerging Markets Foreign Exchange Index (EMFXI), providing investors with a tool for passive exposure to emerging markets foreign exchange. The company is launching a family of indices including the AIG-EMFX Benchmark Index designed to replicate the return of investing in an equally-weighted basket of 19 emerging market currencies […]

Erste Bank Takes Calypso FX & Derivatives Platform

Erste Bank Group, a Central and Eastern European financial services company, has selected Calypso Technology to provide a front-to-back, group-wide trading platform for interest rate, FX and credit derivatives.  “We felt it was time to move to a system that would provide us with a simplified way to trade the exotic products we are using. […]

Gain Capital Launches New Version of ForexTrader

Forex trading company Gain Capital has launched a Windows version of its flagship margin trading platform ForexTrader with new and enhanced functionality.  The new platform is built on Microsoft’s .Net framework and has a redesigned interface that provides access to available information and tools and supports high volume trading, the company says. It includes an […]