Month: September 2009

International Regulators to Co-Operate on OTC Derivatives

Thirty-five global regulatory bodies have announced they are to establish the OTC Derivatives Regulators’ Forum to encourage more open communication within the industry while promoting consistent standards. International regulators have been meeting periodically since the brginning of this year to exchange views and share information on developments related to central counterparties (CCPS) for over-the-counter credit […]

CME Makes Statement of Intent on FX Clearing

Craig Donohue, CEO of CME Group, made the keynote address at Profit & Loss’ Forex Network Chicago last week and unveiled what sources close to the Merc refer to as a “statement of intent” over its plans for OTC clearing. Addressing a standing room-only audience in Chicago, Donohue told delegates that CME Group has two […]

Integral Unveils TrueFX

Integral Development Corp. has made a push into the retail FX space with the launch of TrueFX, a product the firm believes will increase transparency and trust in the retail FX industry. TrueFX provides tick-by-tick historical and real-time market data free of charge to all retail market participants, as well as access to clean, aggregated […]

JP Morgan Adds Algo Execution and FX Options Trading to MorganDirect

JP Morgan launched two major functionality upgrades to MorganDirect, its proprietary foreign exchange and rates trading platform, at Forex Network Chicago last week. MorganDirect AlgoX provides a suite of tools for algorithmic order execution while MorganDirect FX Options will introduce electronic pricing, analytics and execution for foreign exchange options. AlgoX is an order execution tool […]

DealHub Settlement and CCP Clearing Routing Service Launches

Option Computers has extended its portfolio of products to include DealHub/Conductor, a routing service to settlement and central counterparty clearing services. DealHub/Conductor reduces the volume of trades that are processed at the back-office, by pre-matching and aggregating trades where possible, and sending the aggregated trade to the desired settlement venue. Trades can be aggregated by […]

Tullett Prebon Changes Asia-Pac Management

Interdealer broker Tullett Prebon has made changes to its Asia Pacific management team. Peter Pao, who is managing director of Tullett’s Hong Kong office will step down from his responsibilities from October 1 so he can focus on the establishment of a new Beijing office and the expansion of the firm’s business in Shanghai.Tullett says […]

ICE Waives FX Trading Fees

ICE Futures US says it will waive all execution and clearing fees for FX transactions over the ICE trading platform from 1 October to the end of the year. The fee waiver will apply to electronic trades in ICE Futures US’s 39 contracts based on currency pair futures, including US dollar-based pairs, euro-based pairs and […]

Deutsche Bank Introduces New Currency Fund

Deutsche Bank has launched the DB Platinum Currency Returns Plus Fund, a Ucits III compliant currency fund, which offers exposure to the Deutsche Bank Currency Returns + Index and is available in EUR, USD and GBP. Deutsche Bank says that the Deutsche Bank Currency Returns + (DBCR+) Index has been developed to capture the bulk […]

UBS Makes Second Senior FX Hire

Andy Durrant has left CME Group, where he was director and head of FX sales, EMEA in London, to join UBS’s European e-commerce business. It is understood that Durrant will be joining the Swiss bank in London and will report to Julian Wantling, co-head of FICC distribution, EMEA, and Simon Wilson-Taylor, the newly appointed global […]

Hastings Moves to Flextrade

Flextrade Systems has hired David Hastings as global head of FX sales, based in London. Hastings was previously at State Street’s Currenex subsidiary. Hastings starts at Flextrade, a provider of broker-neutral algorithmic trading platforms and execution systems for FX, equities, futures and options, on 19 October and will report to Vikas Kedia, head of the […]