Day: 26 January 2009

FXall Trading Volumes Hit $15 Trillion in 2008

Multi-bank currency trading platform FXall says its trading volumes rose 11% in 2008 to a record high of $15 trillion. The rise was driven by a 16% growth in Asia Pacific volumes and by strong demand from institutional investors, who now account for more than 60% of total volume, the company says. The FXall portal, […]

Bahrain to Launch Multi Asset Class Exchange

Financial Technologies (India) has been given the go ahead to launch the Bahrain Financial Exchange (BFX), which will list cash and derivatives instruments on multiple asset classes including currencies and commodities. The Manama-based exchange, to be regulated by the Central Bank of Bahrain, will begin trading in the first quarter of 2010. Financial Technologies says […]

BHF-Bank Expands GFI Fenics FX Deal

Germany’s BHF-Bank has signed a three-year licence for GFI Group’s pricing and risk management software Fenics FX. Traders and sales traders at the bank will use Fenics’s mathematics models and independent market data to formulate and quote prices for foreign exchange options to their clients. Detlef Kosior, head of FX options at BHF-Bank says, “Fenics […]

On the Move

Merrill Lynch, Bank of America, SEC… Karkhanis Exits Merrill Lynch Rig Karkhanis left Merrill Lynch last month where he was managing director and head of foreign exchange and local currency trading in Asia, a bank spokesperson confirms. His departure comes in the wake of thousands of job losses following the merger of Merrill Lynch with […]

Tech Corner

A round up of the latest technology news… Toronto-based foreign exchange trading company Velocity Trade has made its Accelerator Foreign Exchange Trading Platform available through Gmarkets‘ Pilot Financial GPS. Effective immediately, subscribers of Gmarkets, a technology and market data company also based in Toronto, will have access to executable prices and liquidity provided by Velocity […]

Around the World…

Ponzi schemes and good and bad news for firms with FX derivatives losses… Another week, another ponzi scheme – this time in Japan. According to a Bloomberg report, Allied LLC, an Osaka-based asset manager, is under investigation on suspicion it swindled Japanese investors, mostly housewives, using a currency trading fund. Investigators said a woman they […]

And Finally…

The first time it came up, it was fine – I could handle it. Then it happened more and more and suddenly I was hooked and it was only after a very expensive and painful period in my life that I managed to get myself back on track. Parity parties screw you up – just […]