Month: October 2010

Gallant Launches Options, CFD Trading with FX Bridge Software

Retail currency broker Gallant Capital Markets has expanded into options and contracts-for-difference trading using software from FX Bridge Technologies. Gallant Capital Markets says it is now offering these products to its customers on the new GCMPro platform, provided by FX Bridge. “We continue to hear from our clients that their customers want a multi-asset platform […]

CME Group Begins Clearing OTC Interest Rate Swaps

CME Group has begun clearing over-the-counter interest rate swaps through CME Clearing in conjunction with a group of swap dealers, clearing firms, and buy-side market participants. The move follows sweeping Wall Street reform passed in June that will force most of the private $615 trillion derivatives market into clearinghouses by next summer to lower risk […]

Macro Currency Group Launches New Fund

Principal Global Investors’ Macro Currency Group has launched the Principal High Alpha Currency Fund, a Dublin-registered Qualifying Investor Fund with 25 million of external seed capital. ? The fund’s launch is in response to clients’ growing interests in the group’s higher alpha capabilities, with net inflows into the high alpha funds totalling $185 million in […]

Beta-Gamma Launches FX Aggregator

Beta-Gamma Research, a London-based developer of trading algorithms and automated trading, has launched a new FX Aggregator. The company says it is offering the service at a low fixed-fee cost based on the number of workstations and market venue connections, rather than the usual dollars per million or turnstile model. “Beta-Gamma recognises efficient rate manipulation […]

AIMA Maintains Stance on EU Regulation

The Alternative Investment Management Association (AIMA) has maintained its stance on Europe’s Alternative Investment Fund Managers’ Directive as the proposed policy moves from the European Commission to the European Parliament. AIMA says it has engaged intensively and constructively with European and international policymakers on the Directive since the original draft was published by the European […]

Hotspot Volumes Up in September

Following similar results from other platforms earlier this month, Knight Capital’s Hotspot FX platform has reported an increase in turnover for September. In absolute terms, Hotspot saw average daily volume of $33.8 billion. Unlike other platforms that report, Hotspot does not provide data on a single count basis. This represents a 9% increase from August […]

BGC Adds Interest Rate Options to Platform

Interdealer broker BGC Partners last week executed its first fully electronic US dollar interest rate option (IRO) trade. The transaction was carried out using the volume match tool on BGC’s proprietary, hybrid execution platform, BGC Trader. Rob Sutton, managing director, global head of USD IRS and head of IRO, North America, says: “We have seen […]

Bloomberg VCON Connects to Multiple CCPs

Bloomberg claimed last week that its voice trade confirmation system for cash and derivative instruments, VCON, is the first to connect buy and sell-side firms to multiple central clearing counterparties (CCPs) for interest rate swaps (IRS) central clearing.?? Bloomberg also announced that Citadel, Freddie Mac and Pimco are among the firms now using the VCON […]

Integral Hires Srivastava

Integral Development Corp has hired Citi’s former global head of FX and fixed income e-commerce, Vikas Srivastava, as managing director in charge of business development. Srivastava has more than 20 years of experience working in fixed income, derivatives and currency markets. His focus at Integral will be on expanding strategic partner relationships on Integral’s FX […]

Gain to Acquire CMS Retail Business

Gain Capital, owner of Forex.com, is acquiring the retail foreign exchange business of CMS Forex, which is retreating from the market. The transfer of CMS Forex’s US and Bermuda customers was completed on 15 October 2010 while the transfer of accounts of CMS Forex’s subsidiaries in the UK and Japan is scheduled to be completed […]