Month: March 2011

BCBS and CPSS to Issue Guidance on FX Settlement Risk

The Basel Committee on Banking Supervision (BCBS) and the Committee on Payment and Settlement Systems (CPSS) are establishing a joint working group to revise the BCBS’s Supervisory guidance for managing settlement risk in foreign exchange transactions, which was published in 2000. The group, chaired by Jeanmarie Davis, senior vice president at the Federal Reserve Bank […]

Moore Joins MF Global

Broker dealer MF Global has appointed Citi veteran Richard Moore as regional CEO and managing director of Europe. Moore will begin his role on 1 April and will be responsible for developing the firm’s pan-European growth strategy as well as overall business activities in the region. He will be a member of the global management […]

CME Clearing Connects to Traiana Harmony Network

Traiana has signed up its first central counterparty clearinghouse, CME Clearing, to its Harmony network. Traiana says it has started offering real-time straight-through processing connectivity through the Harmony network to parties wishing to link to CCPs for foreign exchange trades, in preparation for forthcoming regulations in the US and Europe. The move is an extension […]

Deutsche Bank Launches Offshore CNH Trading

Deutsche Bank has launched offshore yuan (CNH) trading on its electronic FX trading platform, Autobahn FX. The bank says the launch will help contribute to the development of the CNH FX market by growing market participation through exposure to its global FX client base. Since July 2010, investors have had the option of trading the […]

Global FX Trading on Exchanges Rose 142% in 2010: FIA

The volume of foreign exchange derivatives contracts traded on global exchanges rose 142% last year to 2.40 billion contracts, according to a survey published last week by the Futures Industry Association. This was partly due to a rapid increase in the trading of retail-sized currency futures on exchanges in India, the FIA says. The first […]

JSE Offers Incentives for Currency Derivatives Trading

The Johannesburg Stock Exchange (JSE) says it is making its currency derivatives market more attractive and competitive by providing incentives for larger currency deals and greater trading flexibility for investors.   Since the JSE’s inception in 2007, 20 million contracts worth R175 billion have traded on the exchange. Between 2007 and March 2011, currency spreads […]

Eurex to Offer Interest Rate Swaps Clearing

Deutsche Börse’s Eurex Clearing unit plans to offer processing of over-the-counter interest rate and equity derivatives by July, in line with regulators’ push to move more derivatives products through clearinghouses. At present, the Eurex OTC Clear service guarantees so-called look-alike futures and options traded both on the Eurex derivatives exchange and over-the-counter. The company also […]

Traiana Enhances Harmony Creditlink for FX

Traiana has enhanced its Harmony Creditlink service and named Deutsche Bank as the first client to go live on it. Updates to the Harmony service include improved processing capabilities and risk analytics across all FX trading models, including high frequency and retail trading. The enhanced service builds on Harmony’s tri-party limit utilisation and credit monitoring […]

BSE Partners with ISE to Launch Derivative Products

The Bombay Stock Exchange has signed a licensing agreement with US-based International Securities Exchange (ISE) to launch derivative products in India. The agreement is part of the ongoing market development efforts between BSE and Deutsche Börse Group, which includes Eurex and ISE, the BSE says. ISE is a wholly-owned subsidiary of global derivatives exchange Eurex. […]

Hotspot Total Volume Up in February

Knight Capital’s Hotspot FX platform has reported that total volume increased by 56.8% year-on-year to $1.08 trillion in February – the second consecutive month that Hotspot’s total volume has exceeded $1 trillion. While total volume increased for the month, average daily volume declined 2.3% versus January figures to $54.3 billion. February’s volume percentages by time […]