Month: August 2007

Lehman Introduces New FX Indices

Lehman Brothers has launched a set of benchmarks that tracks the performance of a long position in G10 currencies against the US dollar.    The LBFX Indices will benchmark long positions of dollars against the euro, pound sterling, Australian dollar, New Zealand dollar, Canadian dollar, Japanese yen, Swedish krona, Swiss franc and Norwegian krone.    […]

Record Volumes for Reuters Spot Matching…

Traded volumes on Reuters Spot Matching platform broke records on August 16, with $233 billion changing hands. This is $39 billion more than its previous record on July 27, 2007.   Throughout the week of August 13, Reuters reported high levels of activity on Spot Matching, and says that the total US dollar volume traded […]

…And CLS

Given the volatility in the FX market, it is unsurprising that CLS Bank set a new record on the August 20 for the volume of payment instructions settled in one day, smashing its previous record of 705,582 to reach a high of 873,430. This is the first time that CLS’s volume of payment instructions settled has […]

DealHub Delivers 95% Compression

DealHub, a low latency, high volume foreign exchange trade monitoring solution owned by Option Computers, has been working with a number of tier one banks to produce a solution for FX trade matching and aggregation, in order to address volume capacity issues.     Compression testing of bank data for two trading days in May […]

Avalon Connects to Hotspot

Traders Development, a subsidiary of Fini Group, a vendor of online trading software for financial companies, has connected its proprietary Avalon FX Pro software to FX multibank marketplace Hotspot’s price feeds.   Users of Avalon software can now access FX prices from Hotspot for both retail and institutional data. Hotspot is a subsidiary of Knight […]

China Allows FX Swaps With Interest Exchange

The People's Bank of China (PBoC) has permitted currency swaps to be traded between the renminbi and five currencies – the US dollar, euro, yen, Hong Kong dollar and sterling, in the country’s interbank FX market. FX swaps were first introduced in 2005 by PBoC, but were allowed to only exchange principal sums, at the start […]

Deutsche Bank Appoints Head of Commodities, Asia

Deutsche Bank has appointed Simon Grenfell as a managing director and head of commodities, Asia. Based in Singapore and working within the global credit trading product group, Grenfell reports regionally to Sajid Javid, head of global credit trading in Asia (ex-Japan) and globally to David Silbert, global head of commodities. Grenfell was previously at Macquarie Bank, […]

RBS to Offer Structured FX Product

The RBS FX structuring team is preparing to launch its FX Select Trading Note to high-net-worth clients in Europe and Asia via private placement.   The investment product deploys an automated currency trading strategy based on 40-day moving averages. Six currency pairs, being the US dollar against the euro, Brazilian real, Korean won, Canadian dollar, […]

Citi Expands Regional Cash Sales Team in AP

Citi's Global Transaction Services (Citi-GTS) has added three senior sales executives in Asia. Manash Dasgupta, Andrew Ong and Catherine Leung have been made directors and senior regional cash management sales consultants, based in Hong Kong, Singapore and China, respectively. The trio each have more than 15 years cash management experience at Citi and other regional […]

RBS and Saxo Open Offices in Beijing

The Royal Bank of Scotland Group (RBS) has officially opened its Beijing branch to offer corporate banking services through its Global Banking & Markets division. These services include debt coverage, risk management and investment products for domestic Chinese corporate and financial institutions.   RBS opened its Shanghai branch in 2004, and formed a strategic partnership in […]