Month: June 2009

Bloomberg Tradebook Launches FX Algo

Bloomberg Tradebook, Bloomberg’s global electronic agency brokerage for institutional investors, brokers and dealers, has released a new tactical trading algorithm that enables traders to ladder or scale into or exit from foreign exchange or futures trading strategies. The Reserve-Scaleback Algorithm helps traders algorithmically buy on weakness or sell into strength to seek a superior overall […]

Osaka Securities Exchange to Launch FX Margin Trading

Japan’s Osaka Securities Exchange (OSE) is launching a market for foreign exchange margin trading on 21 July that will compete directly with the Tokyo Financial Exchange (TFX). OSE will offer trading in nine currency pairs – the dollar versus yen, euro/yen, sterling/yen, Australian dollar/yen, New Zealand dollar/yen, Swiss franc/yen, Canadian dollar/yen, euro/US dollar and sterling/US […]

FIA Lays Out Opposition to CFTC Hedge Plan

The Futures Industry Association has filed a comment letter with the Commodity Futures Trading Commission (CFTC) urging it to preserve its hedge exemptions for dealers in over-the-counter derivatives. The letter was submitted in response to a concept release issued by the CFTC on 24 March that sought feedback on whether the CFTC should eliminate the […]

CME to Launch Options on IRS Futures

CME Group is launching options on 5-, 7-, 10- and 30-year interest rate swap futures, beginning 13 July, to provide market participants with a vehicle for hedging medium and long term interest rate exposure. The options will replicate the European-style convention of over-the-counter swap options, with exercise taking place only at expiration, providing market participants […]

Mecklai & Mecklai Goes Live with SD-FX

India-based interbank FX broker Mecklai & Mecklai has gone live with SuperDerivatives’ (SD) real-time independent pricing service for currency derivatives. The company is using SD-FX in its brokerage operations for quoting dollar-rupee volatilities to customers. By making use of SD’s prices, risk management tools and analytics, Mecklai and Mecklai will be able to improve its […]

Around the World

The glass is half empty, and trading patents… Half full or half empty? Specialist currency manager Record Currency Management last week reported a rather large 34% drop in profits for FY 2008-09. It was clearly a tough year as performance fee income fell a whopping 94% to GBP 1.4 million and we were preparing our […]

BGC Partners Completes Liquidez FX Buy

Eyeing expansion in Latin America, Interdealer broker BGC Partners has completed its acquisition of Liquidez DTVM, a Brazilian interdealer broker of foreign exchange derivatives, commodities, credit, equities, and interest rate products. The addition of Liquidez, with its 70 brokers, marks an important step for BGC Partners, which is aiming to increase its presence in the […]

CIMB Goes Live on RTFX as First Ringgit Market Maker

CIMB Bank Berhad, the commercial banking arm of CIMB Group in Malaysia, has become the first ringgit market maker to go live on the Reuters Trading for Foreign Exchange (RTFX) platform. The move means banks, corporates and other financial participants in Malaysia can execute spot and forward FX and manage the post-trade processing via a […]

FXCM Launches 10 Krone Crosses

Forex Capital Markets is reinforcing its recently launched Nordic business by offering 10 Scandinavian currency crossesfor trading on the FXCM trading platforms. The company is now offering EUR/SEK; USD/SEK; CHF/SEK; GBP/SEK; SEK/JPY; USD/NOK; EUR/NOK; CHF/NOK/NOK/JPY and USD/DKK crosses. New York-headquartered FXCM opened its Nordic “no dealing desk” business, provided by its UK entity, earlier this […]

ELX Futures to Launch on 10 July

ELX Futures, a new fully electronic futures exchange that aims to bring competition to the Treasury futures market, will launch trading on 10 July. The consortium-backed venture, which received regulatory approval on 27 May from the US Commodity Futures Trading Commission to become a designated contract market, is gearing up to challenge CME Group’s near […]