Month: June 2011

And Another Thing…

A new global head of spot FX at Credit Suisse, senior management changes at EBS, a new service from Traiana, and the usual rant from P&L’s editor over why that service will not avert a flash crash as some seem to think… Credit Suisse Appoints Global Head of FX Spot Trading Credit Suisse has appointed […]

Integral Obtains Patent for Disclosed Aggregation

Integral Development Corp has been issued with a US patent for its disclosed aggregation technology. The patent, number 7,882,011 and filed in 2004, was issued at the start of February under the title “Systems and Methods of Conducting Financial Transactions”. The patent covers the electronic sourcing of prices from multiple providers, as well as the […]

BAML Goes Live on GFI Fenics Options Platform

Bank of America Merrill Lynch (BAML) has gone live as a liquidity provider on GFI Group’s Fenics Trader FX options platform, supporting options across 44 currency pairs. Fenics Trader, launched in February this year, provides clients with multi-bank liquidity from a single user interface. GFI says trade volumes and notional amounts continue to increase as […]

Icap Completes First Non-Deliverable Swap Trade on EBS

Interdealer broker Icap has completed the first ever non deliverable FX swap (NDS) trade on the EBS platform. The trade was completed on 13 June 2011 between two large banks based in Asia. The NDS product on EBS is a new electronically traded instrument that was launched last week and is available in Asian and Latin […]

JPM Rolls Out EMEA Prime Services Platform

JP Morgan has launched a full prime brokerage offering for clients in Europe, the Middle East and Africa saying it now has the local infrastructure in place to serve international and regional clients across the entire spectrum of both cash and synthetic products for the first time. The build-out of the European platform reflects the firm’s […]

CFTC Targets Alleged Florida FX Ponzi

The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action charging Juvenal Eduardo Machado and his Miami, Fla.-based company, Invers Forex, with defrauding approximately $786,000 from at least 28 customers, including Machado’s friends, neighbours and members of his church, through a retail foreign currency Ponzi scheme. The CFTC complaint, filed in the US […]

BLME Launches Sharia Compliant FX Platform

The Bank of London and The Middle East (BLME) has launched a Sharia compliant Web-based FX trading platform, BMLEFX. The non-commission based platform is aimed at clients in Kuwait and provides direct access to multiple currencies. It is approved by BMLE’s Sharia Supervisory Board. The platform has been developed to reduce the strain on cross-border […]

Change Imminent for Interest Rate Futures Market

The latest report from Aite Group suggests that the interest rate futures landscape is set to change dramatically as exchanges launch new products. The futures industry has traditionally been characterised by its single pool of liquidity for its products and by its clearing of trades via a clearinghouse that is owned and operated by the […]

BT Extends

BT says it has installed a single BT Integrated Trading System (ITS) voice trading platform across a distance of 850 kilometres, significantly beating its previous long distance record.  The single voice trading platform stretches between ANZ Bank’s two main trading rooms in Melbourne and Sydney and connects 240 traders. The service configuration, known as “clustering”, […]

Man Group Launches Multi-Strat Fund

Man Group has launched the Man GLG Multi-Strategy fund – the first combined Ucits fund to result from Man’s acquisition of GLG Partners last year, which created the world’s largest independent alternative asset manager. The open-ended fund, which offers daily liquidity, has raised more than €100 million in commitments, the firm says. It is designed […]