Month: July 2011

Tech Corner

A round up of the latest technology news… FG Solutions International is set to introduce a new trading service, the Forex Trend Index. The service is an investable trading index that observes a transparent, rule-based investment technique designed to track down existing price movements in a diversified forex portfolio of major currency futures. The elements […]

And Finally…

It is interesting that at the very time that the authorities in the world are waking up to the impact of high frequency trading, the industry segment itself is becoming more mainstream. In recent weeks we have had suggestions that curbs be put on HFT. It has continued, wrongly in my opinion, to be blamed […]

Citi Makes Redundancies in FX

Citi has let go around 20 staff from its foreign exchange business globally, with the majority of redundancies made in London and New York. The staff held mainly FX sales, trading and e-commerce positions, according to two sources familiar with the situation. One of the most senior people to leave is Susan Gammage, the global […]

And Another Thing…

News from SmartTrade and a bunch of stupid statements in the inbox this week SmartTrade Technologies Provides Connectivity to EBS Icap’s EBS has selected a connectivity platform from liquidity management software provider SmartTrade Technologies to allow its customers to stream prices directly on to its platform. SmartTrade said today that EBS will use the LiquidityConnect […]

OTC Derivatives Groups Warn of Harmful Effects of Extra-Territoriality

Eight global and regional trade associations last week called on regulators in the US and Europe to increase coordination to prevent or limit the harmful effects of inconsistency and ambiguity resulting from extra-territoriality in regulatory efforts to implement G20 commitments. The Group of 20 world leaders agreed in 2009 that standardised derivatives traded over-the-counter or […]

Calpers Rehires State Street

The California Public Employees’ Retirement System (Calpers) has signed a new three year deal with State Street, despite the fact that the pension fund filed suit against State Street Corp over what it alleges are incorrect foreign exchange trading rates on certain transactions. State Street was accused of committing ‘unconscionable fraud’ against California’s two largest […]

Thomson Reuters Dealing to be SEF-Compliant by Mid-2012

Thomson Reuters has set a mid-2012 date for its Dealing platform to be SEF-ready and to support a global rule book for over-the-counter derivatives trading. The financial information and technology company says it intends to ensure all of its trading platforms are registered as regulated trading venues in all relevant jurisdictions – including registering them […]

SEC Releases Additional Dodd-Frank Guidance

The Securities Exchange Commission (SEC) last week provided additional guidance, interim relief and exemptions for security-based swaps under the incoming Dodd-Frank legislation in the US. The paper clarifies which US securities laws will apply to security-based swaps from July 16 this year, the effective date of the Dodd-Frank Wall Street Reform and Consumer Protection Act. […]

Currencies Fuel DGCX Volume Record

The Dubai Gold and Commodities Exchange (DGCX) ended H1 2011 with its highest ever monthly volumes for June of 268,390 contracts, valued at $12.96 billion. For the first half of 2011, volume rose by 52% from the same period last year to 1,417,223 contracts, a record for DGCX. The DGCX says the record figures are […]

Market Securities Launches FX Fifty Five

Kyte Group’s Market Securities division has launched a new electronic foreign exchange offering, FX Fifty Five. Market Securities’ e-FX desk has been in operation since March this year, with the pure agency offering in development since February. Ex-Marex employees, Adil Soyfoo and Nathan Halfon, are responsible for its creation. The team has now expanded and […]