Month: May 2009

Around the World

A fraud detection forum – better later than never!; Australia supports CCP of derivatives but has no local solution; UAE pulls out of the common currency group; a challenger for the most repetitive press release award; and why Thursday was not just your average day in the markets… Better late than never. News last week […]

Profits up at Icap

Interdealer broker Icap has reported a 5% rise in full-year pre-tax profit, helped by market volatility in the economic crisis. The company reported that its pre-tax profit for the year ended March 31 was 346 million, up from 330 million a year earlier. Icap said its revenue rose 23% to 1.6 billion. Business segment-wise, Icap’s […]

Forex Network New York a Week Away

The foreign exchange industry will gather in the US on 3 June for Forex Network New York at the Embassy Suites Hotel in lower Manhattan. A busy day of debate on key industry issues as well as the opportunity to network with peers lies in wait for delegates. Following a keynote address by Richard Mahoney, […]

Derivatives Turnover Declines

For the first time since it began collating statistics in 1998, the Bank for International Settlements’ semi-annual survey of over-the-counter derivatives turnover has registered a decline both in six monthly and year-on-year terms. Notional amounts of all types of OTC contracts stood at $592.0 trillion at the end of December 2008, 13.4% lower than their […]

dbFX Volumes Still Rising

Deutsche Bank’s retail FX platform, dbFX, has reported a 37% increase in volumes in the first quarter of 2009 over the same period last year, as retail traders continue to favour FX over equities and bonds. The data stands in stark contrast to data reported by institutional platforms in recent weeks. The platform’s figures also […]

Citi Opens HF Middle Office Service

Citi has launched Hedge Fund Middle Office services to help managers improve efficiency and focus on optimising investment decision making. “The Hedge Fund Middle Office service has been designed to improve operational efficiency and transparency for hedge fund managers by providing independent third party operations,” says Chandresh Iyer, head of global custody and investment administration […]

Two More Ponzis in the Spotlight

The US authorities convicted a man last week of fraudulent activity and have brought court proceedings against another alleged Ponzi operator. James Ossie of Atlanta ran CRE Capital, a firm that cheated more than 120 investors until it was closed by the Securities and Exchange Commission in January (Retail Radar, January 17). Last week, after […]

Tech Corner

A round up of this week’s software releases… BM&FBovespa, the largest exchange in Latin America, will offer national and international participants direct market access via co-location, beginning 15 June. The move aims to attract more investors and promote liquidity and further development of the Brazilian market. Co-location is a form of DMA that allows brokerage […]

Dealhub Launches FX Connect Autopricing Connectivity

Option Computers has added straight-through processing, chat archiving and autopricing connectivity for State Street Global Link’s FX Connect v6 to its flagship Dealhub platform. The Dealhub platform, which provides real-time monitoring of conversations and trading and STP capabilities from the front office through to back office systems, meets the SEC regulations for the mandatory logging […]

FX Connect: A Clarification

Squawkbox on May 11 reported on an outage at Global Link’s FX Connect. Global Link has since provided Squawkbox with further information on the outage which highlights the fact that the outage had a very minimal impact on the platform, affecting less than three-quarters of one per cent of daily volume. We are happy to […]