Day: 7 May 2007

Thomson Takes Aim at Reuters?

Just 24 hours before Reuters CEO Tom Glocer was scheduled to give a keynote presentation at the ACI’s 46th World Congress in Montreal, the news hit that Canadian-owned Thomson Corporation was making a play for Reuters (Glocer did not speak in the end, Reuters sent Americas president Jon Robson instead).   Reuters confirmed that it […]

…As Icap Rumoured in Play

At the same time as Reuters’ share price surged last Friday (May 4), Icap’s shares soared over 5% on rumours that CEO Michael Spencer’s stake is up for sale. The talk was further fuelled by whispers of a Deutsche Brse play for the company.   Deutsche Brse has long reported to be interested in broadening […]

Bank of Ireland Appoints in Asset Management

Bank of Ireland Asset Management (BIAM) has appointed a new head of fixed income and FX investments, with David Thompson assuming the role of head of macro fixed income and absolute return products.   Thompson joins BIAM from Allied Irish Capital Management, where his most recent role was director and principal trader. Prior to that, […]

Merrill Launches CFXOs

The lines between asset classes continue to blur with the news that Merrill Lynch has unveiled the FX industry’s first FX CDO or CFXO (Collateralised FX Obligation), an investment product designed to apply the CDO technology commonly used within the credit world to foreign exchange as an underlying asset class.   The CFXO will be […]

Citi Launches FX Index on Deutsche Brse…

The growth of index products aimed at attracting investors to foreign exchange is maintaining momentum with the news that Citi has created a tradable foreign exchange index that it says is the FX market’s equivalent to the DAX, FTSE 100 or S&P 500. Called Beta1 the index represents the FX market, or beta, available in […]

…As Credit Suisse Joins the Index Party

Following hot upon the heels of the Citi announcement came news that Credit Suisse has launched foreign exchange indices that enable investors to participate in FX carry trading; called Rolling Optimized Carry Indices (ROCI) they are designed to offer better transparency in invest-able currency indices, including emerging markets.    The Credit Suisse ROCIs track the […]

Deutsche Brse Eurex Takes ISE

Deutsche Brse, through its Eurex joint venture with SWX Swiss Exchange, and the International Securities Exchange (ISE) have agreed to merge, creating what will be the largest trans-Atlantic derivatives exchange.   Deutsche Brse Eurex and ISE signed a definitive agreement last week under which Eurex will acquire ISE for approximately $2.8bn in cash, following board […]

CME Grows FX Team

The Chicago Mercantile Exchange (CME) has expanded its foreign exchange team in line with the growth of its FX products; hiring Craig LeVeille as director of FX products and Michael Hohman as associate director of FX products.   The positions were newly created to focus on selling CME’s FX products to FCMs, hedge funds, brokers, […]

FNX Shows off Cayman at ACI

FNX Capital Markets Solutions, a provider of technology solutions for treasury and capital markets, displayed its Cayman margin trading and client management solution at the 46th ACI World Congress in Montreal last week.   Cayman provides a real-time, cross asset solution specifically designed for high volume margin trading and client management. Its user interface offers […]

Pay as you go with Wall Street Systems

Wall Street Systems, a provider of global treasury, trading and settlement solutions, launched an application service providers-style delivery model for Wallstreet FX at the 46th ACI World Congress in Montreal last week.   If clients opt to use the ASP model for currency management on Wall Street Systems’ servers rather that their own, they can […]