Month: September 2008

ICE Launches Million Dollar Contracts

IntercontinentalExchange Futures U.S. (ICE) announced it will kick off a million currency unit version of 12 foreign exchange contracts, at Profit & Loss’ Forex Network Chicago. Addressing the conference, which attracted over 400 registrations for the second successive year, Jeffrey Sprecher, CEO of ICE, told delegates: “The recent issue of Profit & Loss says there […]

JPM Unveils MorganDirect

JP Morgan officially launched its new client-facing trading application, MorganDirect, at Profit & Loss’ Forex Network Chicago conference last week. The service breaks new ground in the bank-provided platform industry by supporting mobile trading from client’s blackberries, as well as from the desktop. MorganDirect provides access to real-time executable streaming rates for spot, forward and […]

Integral Provides Co-Location Service

Integral Development Corp. unveiled its ultra low latency solutions for both its FX Inside Professional Execution Management System and its clients proprietary e-FX trading applications. The solution was unveiled at Profit & Loss’ Forex Network Chicago conference last week. The move coincides with the expansion of Integral’s data centres supporting the company’s FX Grid solution. The new […]

UBS Hires Mayer As Co-Head of FICC

UBS has hired Jeffrey Mayer as joint global head of its fixed income, currencies and commodities (FICC) business to work alongside Carsten Kengeter, who himself was appointed a few weeks ago (see Squawkbox, 8 September). Kengeter and Mayer will share responsibility for all fixed income products including credit fixed income, rates, structured products, emerging markets, […]

New York State To Regulate Part of CDS Market

New York State (NYS) will regulate part of the credit default swap (CDS) space from 1 January 2009 as it pushes for regulation for the entire CDS market, its governor David Paterson announced last week. NYS will regulate those CDS products where buyers are purchasing protection against actual underlying securities as opposed to engaging in […]

Baxter FX Launches FX Clearing service

Baxter FX has launched a new clearing service across multi-bank portals in the foreign exchange space. The new product, called “FX Clearing 2.0”, will have STP connection to all multi-bank platforms and aims at clearing all major FX platforms in a way more familiar to the futures community. Baxter also plans direct market access style […]

China CITIC Selects FX4Cash

China CITIC bank has selected Deutsche Bank’s cross-currency payments product FX4Cash. The service enables the bank to use one base currency account from which it can make payments in more than 75 local currencies via wire, check and Automated Clearing House. FX4Cash is tailored to provide global cross-currency payment services for corporate and financial institutions. […]

Deutsche Bank Launches Worldwide Inflation Indices

Deutsche Bank has launched a suite of inflation indices that enable investors to hedge their inflation risks in both G10 and emerging market currencies. The db Liquid Inflation suite of indices offer investors the opportunity to hedge exposures according to region – global, G10 or emerging markets. The db Liquid Inflation Index (G10) measures the […]

Listorti To Head FICC At Commerzbank

Commerzbank has appointed Eddie Listorti as the new global head of fixed income, currencies and commodities (FICC) as it integrates newly acquired Dresdner Kleinwort. Commerzbank chief executive Martin Blessing said earlier this month, announcing the EUR 8.8 billion deal, that FX and fixed income are two areas “where we feel we are strengthened by the combination.” […]

Foreign Exchange Markets Practice Group Nearing Inaugural Date

The Foreign Exchange Markets Practice Group (FXMPG), a new industry body for the FX market, aims to have its global steering committee in place by the end of November as it prepares to host its first ever meeting. FXMPG representatives have already contacted regional organisations including the foreign exchange committees in New York, London, Singapore […]