Month: July 2009

Morgan Stanley Unveils Matrix

Morgan Stanley has rolled out a new e-trading platform to clients. Called Matrix, the platform was previously used internally by Morgan Stanley’s trading and sales desks. According to market sources and users of the platform, the first iteration supports FX and vanilla interest rate derivatives trading and analytics. The bank is said to be adding […]

Increasing the Speed to Liquidity

Much has been said and written about the technological arms race that has engulfed the foreign exchange market in recent years, but much of that debate has surrounded execution technology – and latterly the post-trade processing space. Very little, on the other hand, has been said or written about the speed with which people actually […]

2009 P&L AWARDS?DINNER N.Y.C.

Profit & Loss Hall of Fame The second annual Profit & Loss Digital Markets Awards were presented alongside the unveiling of Profit & Loss’s Hall of Fame in New York on June 3. In all, more than 8,000 votes were cast across the various categories and the Hall of Fame, meaning competition for awards was […]

10 Years Ago in Profit & Loss

Deutsche’s Herron to Oversee Global FX in Bankers Merger Having just received approval from US authorities to proceed with its acquisition of Bankers Trust in late May of that year, Deutsche Bank began to appoint managers to oversee the combined group. Deutsche’s then global FX manager, Hal Herron, was named to the same post for […]

CME Adjusts Fee Structure

CME Group will introduce wide-ranging changes to its trading fee schedule in the third quarter this year. The fee changes, described in a document on CME’s website, reduce prices on some products and raise them on others. The exchange says it is continuing with its practice of providing incentives to liquidity providers and high volume […]

Morgan Stanley Builds FX Business

Morgan Stanley is strengthening its foreign exchange business, which senior management has highlighted as a key area for the bank following record revenues in 2008, with a string of appointments in the UK and US. In FX prime brokerage, a business earmarked for expansion, the US investment bank has hired Martine Bond to lead the […]

FX Settlement Volumes Rise in June

The average daily volume of foreign exchange payment instructions rose strongly in June from the previous month, according to data from FX settlement system provider CLS Bank. The average daily volume of payment instructions was 669,797, up 19.1% versus May (562,340) and up 25.4% from the same period a year ago (534,327). The average daily […]

Volumes Rise on EBS

Average daily volume on Icap’s electronic broking platforms, EBS and Brokertec, in June was $645.9 billion, an increase of 14% on the prior month and 21% on April. Average daily volume on the EBS platform in June was $147.4 billion, up 10% on the prior month and up 21% on April. Average daily volume for […]

CME Volumes Up in June

CME Group has reported that June volume averaged 11.4 million contracts per day, down 20% from June 2008, but up 6% from May 2009. Volumes were buoyed by strong trading in the exchange’s foreign exchange and interest rate products. Total volume was 251 million contracts for June, of which 79% was traded electronically. Foreign exchange […]

OTC Derivatives Clearing Needed in Australia: RBA

A survey by the Reserve Bank of Australia, in association with local regulators, Australia Securities and Investment Commission and Australia Prudential Regulation Austhority, has found that sufficient evidence exists to support the need for centralised clearing of OTC derivatives in Australia. The survey acknowledges, however, that the local market is probably not large enough to […]