Month: March 2010

Alleged Currency Options Misconduct Believed to Involve Order Book

Further to P&L’s Squawkbox exclusive ongoing reports (see Squawkbox, November 16 and December 7) on alleged misconduct in the currency options market by an interdealer broker in New York, sources now say that the access to prices may actually involve views of the order book as well. While it was believed that the alleged wrongdoing […]

FX Fees Are Too High: Russell Investments

Excessively high foreign exchange trading fees could be costing investors up to 2% of their total portfolio over a 40-year period, new research by Russell Investments shows. Russell analysed 40,000 foreign exchange trades executed by investment managers with custodians and other foreign exchange counterparties between January 2008 and December 2009. The investment firm found the […]

Lava Helps FXall Surpass $100 Billion Volume Milestone

FXall says it had a record volume day on 24 February, surpassing $100 billion on a single count basis with all-time high volumes on both the FXall portal and the recently acquired LavaFX platform. The volume growth was driven by an increase in trading activity across all client segments including hedge funds, commodity trading advisors, […]

Credit Suisse Adds to LAB Strategies

Credit Suisse’s asset management business has launched three new indices on its Liquid Alternative Beta (LAB) platform. The indices are designed to replicate the performance of major hedge fund strategies as well as the overall hedge fund universe. LAB is a series of indices that seek to replicate the aggregate return profiles of alternative investment […]

Tullett and MillenniumIT to Develop E-Broking Systems

Interdealer broker Tullett Prebon has signed a multi-year deal with technology company MillenniumIT, part of the London Stock Exchange Group, to develop its electronic broking capabilities across a variety of asset classes for both internal and external trading systems. The partnership is a sign of how some of the biggest players in the derivatives markets […]

Misys Launches Exotic FX Options Matching for Buy Side

Software company Misys has extended its Confirmation Matching Service (CMS) to include MT306 messages for matching exotic FX options. The extended capability provides buy-side counterparties with improved risk management while reducing manual processes executed by banks, the company says. The US Federal Reserve and the Bank of England have been increasingly vocal in their recommendations […]

Asiana FX Live with Traiana Harmony

Traiana has integrated Asiana FX’s eponymous trading platform with its post-trade processing technology, Harmony Message Centre.?? Through the integration, Asiana FX is now able to offer system-to-system straight-through processing for foreign exchange trades, electronically connecting all counterparties on the platform. The Asia-focused platform, which provides asset managers, mutual funds and proprietary trading desks with access […]

DTCC to Give Regulators Direct Access to CDS Data

The Depository Trust & Clearing Corp. says it plans to give regulators direct access to credit default swap information held in its warehouse, including data specific to a trade counterparty’s positions. The DTCC holds data on around 2.3 million credit default swap contracts from trade counterparties located in 52 countries. The company says it is […]

Senior Man Exits Currenex

As reported last week by Squawkbox, Sean Gilman, chief technology officer of the Currenex businesses, is leaving the company this week although it is understood he will continue to interact with the firm on a consulting basis. Gilman is believed to be taking up another opportunity in the industry on the buy side. His replacement […]

Interbank FX Adds Bridge to Private Label Offerings

Interbank FX,a provider of retail FX trading technology and services, is now offering an FX bridge product to private label partners. The bridge providesa direct link between IBFX’s MT4 trading platform and a liquidity provider. Interbank FX’s bridge software is designed to deliver FX prices and provide trade execution for banks that use the MetaTrader […]