Month: July 2008

Interconnectivity a Risk to Derivs Settlements: BIS

The Bank for International Settlements’ committee on payment and settlement systems (CPSS) has issued a paper that warns of new risks associated with the interconnectivity of automated systems. The report says there are several sources of risk that can affect payment and settlement systems, stemming from financial institutions or service providers. These include liquidity shortfalls, […]

New Features for Portware’s FX Platform

Trading systems provider Portware has added new features and tools to its foreign exchange aggregator platform including a configurable front-end and depth of book across all currency pairs. Portware FX aggregates liquidity from banks, ECNs and dealers into a consolidated FX order book. Another new feature is a tool enabling customers to deploy rules-based and […]

tech corner

Cognotec has released version 3.40 of its AutoDeal+ platform which adds automated trading of emerging market non deliverable forwards as well as the ability to differentiate whether currencies are traded onshore or offshore. Orange Business Services – Trading Solutions has won a trading room upgrade project for Banco Espírito Santo (BES). The project includes the […]

CLS Adds Two Currencies

CLS Bank settled payment instructions in two new currencies for the first time in June. The addition of the Mexican peso and Israeli shekel brings the number of currencies available on the service to 17. The addition of the two currencies enhances systemic stability in the settlement of foreign exchange transactions, CLS says. Over half […]

Deutsche Adds Structured Products to AutobahnFX

Deutsche Bank has officially launched its foreign exchange structured deposit platform, which will enable clients to trade structured FX investment products via Autobahn FX, the bank’s proprietary trading platform (see Profit & Loss, April 2008). The first product available on the new platform is a dual currency investment product, a short term deposit that offers […]

Thomson Reuters Enhances RTFX

Thomson Reuters has made two enhancements to Reuters Trading for Foreign Exchange (RTFX) aimed at improving trading workflow. RTFX is a foreign exchange trading system available over Reuters 3000 Xtra and Reuters Dealing 3000. It allows users to access multiple market makers with a single sign-on. The company says price takers can now issue a […]

WM/Reuters Establishes Reference FX Rates for Oz and NZ Markets

The foreign exchange valuations of WM/Reuters have been approved by three Australian industry bodies and the New Zealand Financial Markets Association as the appropriate reference FX rates for the Australian and New Zealand time zones. Beginning July 1, financial firms can use them as the standard daily rates for portfolio valuations. The rates were approved […]

Hotspot FXi Adds Precious Metals

ECN Hotspot FXi has begun trading spot gold and silver to meet demand from clients who want to trade precious metals on an ECN platform. The new products, which have been trading in soft launch mode since late March, were launched formally on June 10, 2008. The firm says that by adding metals trading, it […]

Indian FX Futures on the Way

India’s potentially massive currency futures market is one step closer to launching with the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) jointly releasing a report covering technical establishment issues. Jamal Mecklai, CEO of Mecklai Financial, a currency risk advisory firm in India, tells Profit & Loss that notification formally […]

Improved May for Hedge Funds – CS Tremont

Data from Credit Suisse Tremont shows that hedge funds turned in a strong performance in May, with only one sub-index (Risk Arbitrage at -0.18%) in negative territory. The headline Index returned 2.0% in May, led by Long/Short Equity at 2.91%, Multi-Strategy at 2.20% and Emerging Markets at 2.14%. Year-to-date, the headline Index is just 0.52% […]