Month: March 2011

LCH.Clearnet Launches Swapclear FCM Service

LCH.Clearnet last Tuesday launched its Swapclear Futures Commission Merchant (FCM) service for US interest rate swap clients. Morgan Stanley says it cleared some of the first trades for its US clients on the day of launch. Clients are able to access the service through any of the 12 FCMs already connected to it. Last Wednesday, […]

CIBC Hires Three for FX and Rates

CIBC has hired three veterans for its capital markets trading group in Toronto and Hong Kong to focus on foreign exchange and interest rates trading. Mark Downing has joined the bank as managing director in the interest rate derivatives trading team in Toronto, reporting to Brian D’Costa, managing director of global rates, co-head of fixed […]

GFI Launches RatesMatch for Interest Rate Swaps

GFI Group has launched RatesMatch, a new electronic trading system designed for hybrid execution of cleared interest rate swaps. RatesMatch is provided by Christopher Street Capital, a division of GFI Brokers. In line with GFI’s hybrid model, RatesMatch gives clients a choice of trading fully electronically on the platform or working through their voice broker […]

Another Fund Sues BNY Mellon

If Bank of New York Mellon and State Street thought they had seen the last US state pension fund emerge to sue them over foreign exchange execution levels, they were proved wrong last week when a Pennsylvania fund launched a class action on the issue. The South-Eastern Pennsylvania Transportation Authority (Septa) is claiming that BNY […]

Saxo Bank Opens Hong Kong Office

Saxo Bank’s Asia Pacific subsidiary, Saxo Capital Markets, has opened a Hong Kong office, its fourth in the region, to focus on a growing demand for foreign exchange trading from retail investors. Saxo Capital Markets already has offices in Singapore, Sydney and Tokyo. “The post-global financial crisis sees a paradigm change in retail investment behaviour […]

WFE Survey Shows Derivative Growth

The World Federation of Exchanges has reported the highest levels of trading in derivatives contracts on global regulated exchanges in nearly a decade. The trade association says that in 2010 over 22.4 billion derivatives contracts – made up of 11.2 billion futures and 11.1 billion options – traded on exchanges worldwide, up from 17.8 billion […]

FX Broker ADS Securities Launches in Middle East

Brokerage and trade service firm ADS Securities last week launched in Abu Dhabi. Backed by a capital commitment of $400 million from a group of private investors, the firm offers tools and personalised trade services designed to help institutional, professional and high net worth market participants trade in the global and regional foreign exchange, precious […]

Alpari Launches FX Options Trading

Foreign exchange broker Alpari (US) last week officially launched the Alpari FX Options trading platform to all clients. Powered by FX Bridge Technologies, Alpari FX Options features Strategy Optimiser, a modelling tool with a customisable interface allowing clients to trade directly from charts. It also offers a full order book, reporting tools and a risk […]

4Cast and IBTimes Form Partnership

4Cast and the International Business Times have launched a combined foreign exchange news and technical analysis service for the online FX market. The real-time service combines IBTimes’ FXWire Pro feed with 4Cast’s FX technical analysis feed. The FXWire feed is built on IBTimes’ network of journalists from 13 countries who convey key currency market moving […]

On the Move

Deutsche Bank, FXall, CLS, Nomura, JP Morgan Treasury Services… Deutsche Bank Loses Wee Michele Wee has left Deutsche Bank where she was head of electronic FX and fixed income sales for Asia. Market sources say she is moving to Standard Chartered in a senior e-commerce sales role, but this could not be confirmed by press […]