Month: February 2012

And Finally…

As someone who has long proclaimed the need for better visualisation around the trading and risk management process, I find myself heartened by developments in the e-FX space. Increasingly, providers, especially banks, are turning to graphics as part of the risk management process. To me, this is a positive development in the trend towards what I […]

Around the World

Base Jumping Meets FX Trading in South Africa: Saxo Bank has executed what is believed to be the first ever FX trade during a base jump. Undertaken at terminal velocity, the trade was placed and confirmed during a free-fall using the new SaxoTrader app for iPhone and Android. Martin Rosen, a Swedish wing suit jumper […]

Tech Corner

Cleveland-based KeyBank has upgraded its existing agreement with GFI Group’s Fenics to include the full suite of Fenics Professional FX options pricing and analytic tools. KeyBank will also expand the use of Fenics Professional to new users and locations. The bank will use Fenics Professional for FX options price discovery, portfolio management and automated downstream […]

On the Move

New Chair for WMBAA Chris Ferreri, managing director of hybrid trading at Icap, has been elected chair of the Wholesale Market Brokers’ Association Americas, an independent body representing interdealer brokers in the North American markets. Ferreri succeeds Shawn Bernardo, a senior managing director at Tullett Prebon. The position of chairman is rotated every six months between […]

CyberAgent FX Signs for Gold-i Gate Bridge

Japanese forex broker CyberAgent FX has become the first Japanese broker to use the Gold-i Gate Bridge for the MetaTrader 4 trading platform from UK-based company Gold-i. The Gold-i Gate Bridge is a low latency smart routing product that helps brokers to connect the MetaTrader platform from MetaQuotes Software Corp. to external liquidity providers. The […]

Industry Eliminates $164 Trillion of IRS Notionals: ISDA

The International Swaps and Derivatives Association (ISDA) has published a paper which highlights how a risk reduction practice, portfolio compression, could be optimised to achieve greater effect in reducing interest rate swap notionals. Portfolio compression was introduced to the interest rate swap market in 2003 by TriOptima, an Icap company. Through year-end 2011, participating institutions […]

LCH Grabs More IRS Clearing Business

LCH.Clearnet has added Pierpont Derivatives to the list of institutions actively clearing interest rate swaps through the SwapClear service. Initial trades were executed and cleared by Nomura and affirmed by MarkitServ, allowing Pierpont Derivatives to leverage MarkitServ’s straight-through processing affirmation process into its workflow. “SwapClear allows new market participants like Pierpont Derivatives to decouple execution from […]

HFT Code Theft Conviction Overturned

In a judgement that may have serious ramifications in technology circles, former Goldman Sachs programmer Sergey Aleynikov has had his conviction for stealing the bank's proprietary high-frequency trading code overturned by a US appeals court. Aleynikov was found guilty in late 2010 of theft of trade secrets and interstate transportation of stolen property. He was […]

DealHub Adds to Management Team

DealHub (Option Computers) has added to its senior management team with the appointments of Nick de Smith as head of development and Mark Marston as business manager, interbank and prime brokerage services. De Smith joins from RAB Capital where he was head of IT and oversaw a rapid build-out of low-latency trading operations. He also […]

Thomson Reuters Launches On-Shore Thai Baht Matching

Thomson Reuters last week launched an onshore Thai baht forwards trading service on Thomson Reuters Matching, which is set to generate more trading opportunities among financial institutions in Thailand.   “Thomson Reuters has long supported the global FX forwards market on our matching transaction platform and the same platform has been successful in attracting strong liquidity […]