Month: February 2008

Nordea Takes SuperDerivatives

Nordea will use market data from SuperDerivatives, a provider of options pricing, risk management and independent revaluation services, to calculate market values and risk. Mikkel Fruelund, head of product control for FX and money markets at Nordea, says: "By using its volatility surfaces data-feed we can calculate end-of-day market values and provide price transparency to […]

CFT Forms China Money Brokerage JV with Ping An

Compagnie Financiere Tradition (CFT) has formed a money brokerage business in China via a joint venture with China Ping An Trust & Investment Company (Ping An Trust). The new firm, Ping An Tradition International Money Broking Company, will be capitalised at CNY50 million ($6.8 million) and will be 67% owned by Ping An Trust, with […]

GFI Acquires Trayport

Inter-dealer brokerage GFI Group has bought Trayport, a development firm that offers a range of products including three electronic trading platforms, Exchange Trading System, Broker Trading System and Trading Gateway, which are tailored to the needs of the specific user communities. Trayport will continue to provide software and services to these markets in the same […]

Singapore’s MAS Forges Links With Dubai and Vietnam

The Monetary Authority of Singapore (MAS) has approved the Dubai Gold and Commodities Exchange (DGCX), as a Recognised Market Operator (RMO). The status enables DGCX to offer Singapore-based market participants direct access to its commodity and currency contracts. The exchange’s main contract is in gold futures, which in recent days has traded around 4,000 lots […]

Euroclear Bank To Expand In Asia

Euroclear Bank is ramping up its Asian operations with 25 new staff to be hired when, subject to regulatory approval, it upgrades its Hong Kong representative office to a branch office by April 2008. A Beijing rep office is also slated to be opened in April. The Brussels-based bank is part of the Euroclear Group, […]

Taiwan Futures Exchange Launches Gold Futures Contract

The Taiwan Futures Exchange successfully launched its Taiwan dollar-denominated gold futures contract on January 28. The exchange, the sixth largest futures exchange in Asia on volume rankings, saw a daily average of around 16,000 lots traded over the first three days. However, the contract size is a mere 10 Taiwan taels (equivalent to 375 grams […]

…And Finally…

Formerly one of the world’s largest CTAs, last week saw John W. Henry unveil pretty nasty annual returns, especially in its currency portfolios. Having already closed its other currency programs, the only surviving strategy – the International Foreign Exchange Program – finished 2007 an estimated 30.89% down according to the firm. Not only does this […]