Month: March 2009

New Rules May Ease Banks’ FX Conversions in China

China has drafted rules making it easier for banks to convert currency holdings into other foreign currencies, official media reported last Friday. The official Shanghai Securities News quoted unnamed sources as saying the State Administration of Foreign Exchange (Safe) was seeking banks’ comments on the just-drafted Provisional Administrative Measures on Banks’ Self-Forex Purchase and Sale […]

India May Double Daily Currency Futures Limits

Individual traders and brokers in India may now get much greater exposure to currency futures after market regulator Sebi said it will double the daily position limit to $10 million and $50 million for small traders and larger brokers respectively, according to local media reports. Once operational, the move will help corporations, exporters and importers […]

Oger and Avea Take SuperD for FX and IR Pricing

Oger Telecom, an emerging markets telecommunications operator and Avea, a Turkish mobile telecom operator, have selected SuperDerivatives’s (SD) foreign exchange and interest rate pricing services to help them trade interest rate derivatives and to hedge foreign currency exposures. Oger Telecom, based in Dubai, required a service that would enable it to hedge the exposure of […]

On the Move

ClientKnowledge, Bank of America Merrill Lynch and Standard Chartered… ClientKnowledge Strengthens FX Client Flow Business ClientKnowledge, a financial markets research and strategy company, has appointed Parham Zolfaghari as product manager for Managed Models. The business line analyses FX client flow, and develops trading algorithms and signalling tools for banks to maximise the value of the […]

Tech Corner

A round up of the latest technology news… Thomson Reuters has officially added Icap‘s EBS Ticker real-time market data to its feed offerings, the first time EBS data has been available on a third party. The launch was first announced late last year (see Squawkbox, November 10, 2008). Forts, the futures and options market of […]

And Finally…

For once this column will be short and sweet. Last week saw the publication of the Turner Review in the UK, which looked at reform of the banking industry. There was little to really surprise readers in the report – it is clear that more oversight is coming to banking institutions and that certain products […]

Standard Chartered Launches FX Fixings

Standard Chartered has launched a foreign exchange fixings service, providing clients with benchmarks against which they can execute FX transactions and prove best execution. The Straight2Bank FX Fixings service is independent, taking the whole market into account when calculating currency prices. The bank says that it saves clients both time and resources that can be […]

Nordea Rolls Out Aegisoft AthenaTrader for FX Trading

Nordea Bank has deployed Aegisoft’s AthenaTrader execution management platform to aggregate several marketplaces for its foreign exchange trading desks, further extending Aegisoft’s foray into the European region. Nordea will be rolling out AthenaTrader in several geographical regions including Copenhagen, Stockholm, Oslo, Helsinki and New York, starting next month. The bank’s strategy behind selecting AthenaTrader is […]

FXall Launches Active Trader Platform

FXall has launched a new platform specifically designed for active traders which combines streaming prices from relationship banks with anonymous ECN trading. FXall Trading now provides access to liquidity from bank relationships in full amounts and anonymous liquidity via Accelor, FXall’s low latency ECN, within a single application. The company says the new functionality was […]

Sarb Calls for Quick Action on Stability: ACI World Congress

Opening the ACI World Congress in Cape Town, the South African Reserve Bank (Sarb) called for quick action to restore financial stability and stressed that lessons needed to be learned to avert similar crises. With Sarb governor TT Mboweni away in London preparing for the G20 meetings, the bank’s head of markets, Daniel Mminele, delivered […]