Month: May 2012

Direct Yen-Yuan Trading to Launch 1 June

Japan and China will start direct trading between the yen and the yuan on the interbank foreign exchange markets in Tokyo and Shanghai tomorrow (1 June), following an agreement made in late 2011. Japan and China currently use the US dollar as the intermediary settlement currency of choice. The yen-yuan direct exchange system is expected […]

And Another Thing…

There is much interest in the official unveiling of the traFXpure platform a few hours ago, not least the name, the timing of the announcement, the subtle shift in direction that the solution appears to have taken, and of course, who the real competition will be with. The easy – and in my opinion, wrong […]

Tradition to Challenge the Existing Order in Spot FX

A group of banks and interdealer broker Tradition on Wednesday unveiled traFXpure, a new interdealer electronic trading platform for spot FX that will challenge Icap-owned EBS as the primary interdealer marketplace for the foreign exchange market. Tradition announced that Barclays, BNP Paribas, Deutsche Bank, Royal Bank of Canada and UBS will be the initial market […]

Barclays Shuffles e-FX Management Team

Barclays has shuffled some of its senior foreign exchange managers following the decision by Gyan Newman to relocate to New York from Singapore. Newman, currently the Asia head of e-distribution and global head of e-FX distribution, will be taking on a senior internal global role focused on regulatory reform. As part of the changes, Marek […]

SmartTrade Launches LiquidityFX

SmartTrade Technologies has released LiquidityFX, a hosted spot FX liquidity aggregation and smart order routing system built on the company’s liquidity management platform. LiquidityFX provides regional banks with connectors to more than 25 FX exchanges, ECNs and single bank platforms including EBS Ai, Reuters Matching, Currenex, Hotspot FX, FXall, Citi, Goldman Sachs, Nomura and the […]

And Finally…

I write this with a deep breath as I am about to embark on a trip to that fine country and could therefore be on the receiving end of some “feedback”, but sometimes I think the US just doesn’t get foreign exchange. I say this because I noted in passing this week a headline saying […]

Tech Corner

HSBC has launched new offshore-yuan cross rates against the euro, sterling, Hong Kong dollar, Singapore dollar, Canadian dollar and Mexican peso. The bank says it is now providing continuous 24-hour streaming of exchange rates through its single-dealer platform and via the market’s main electronic platforms, including those run by Thomson Reuters and EBS. Icecapital, a Finland-based asset […]

On the Move

Schultz to Join Deutsche Bank Craig Schultz is set to join Deutsche Bank in New York as head of FX bank sales for North America. He will start the role in July and will report to Maria Prata, head of hybrid FX sales. Schultz was previously director – head of bank sales Americas at Citi […]

P&L Poll Results on Greece Exit

In the latest in our series of Profit and Loss polls, we turned our attention to Greece, asking members of the Profit & Loss Forex Network group on LinkedIn: ‘Do you think Greece will exit the Eurozone?’ The results were conclusive with 77% of voters saying they believe Greece will leave the Eurozone and only 18% […]

Advanced Markets and Fortex Launch UltiMT MetaTrader Service

Advanced Markets, a provider of foreign exchange direct market access technology, and Fortex, an  independent developer of real-time, multi-asset trading platforms, have released UltiMT, a technology, liquidity and credit offering that enables banks and brokers to provide MetaTrader front-end system traders with direct, high-speed access to multibank foreign exchange and precious metals pricing and trade […]