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Meanwhile, Icap has announced that on its BrokerTec system at the end of May, daily electronic broking volumes in the European repo market reached EUR 261 billion. Transactions totalled more than 8,000 matched trades in a single day with the average daily ...
CMC Markets UK has struck an introducing broker (IB) agreement with India's Reliance-Money (R-Money) enabling CMC to sell its contracts for differences (CFDs) in foreign exchange, equities and commodities to the Indian market.   Andrew Palmer, CMC's marketing director, tells Squawkbox ...
Tradition Korea commenced FX brokerage services on April 16, 2007, following the entry by GFI and Nittan Capital into the Korean market last month (see Squawkbox March 12, 2007).   A Korean Ministry of Finance and Economy (MOFE) spokesperson tells Squawkbox that Tradition is allowed ...
Inter-dealer broker Icap confirms that Bruce Collins, managing director for Icap in Asia Pacific, is retiring with George MacDonald adding the Asia Pacific beat to his existing responsibilities for the UK and Europe. MacDonald will share his time between London ...
Florida-based foreign exchange traders I-Trade FX outbid Forex Capital Markets (FXCM) in the quest for the assets of failed FX trading solutions provider CFG Trader. The US District Court in Richmond, Virginia, approved the transfer of the assets of CFG ...
Man Financial, one of the largest futures brokers in the world, has licensed the Alternative Trading System (ATS) from SDS Financial Technologies. Man will use SDS ATS to provide an electronic fixed income trading marketplace to its US clients. Called ...
Rival inter-dealer brokers GFI and ICAP have allied to deliver multi-broker credit derivative index tranche fixings. The two are launching the first multi-broker tradable iTraxx tranche fixings for the interbank market. The month-end fixings will be established by dealers inputting ...
Forex Capital Markets (FXCM) agreed to take on all of the open trading positions of CFG Trader, after CFG was forced to liquidate its positions by the US National Futures Association (NFA). Richmond, Virginia-based CFG Trader failed to meet the ...
GFI Group and Nittan Capital opened brokerage operations in South Korea last week while BGC Partners and Tradition are planning similar launches.   New York-headquartered GFI Group says its new operation will be broking Korean interest rate swaps, deliverable forwards and ...
US-based futures commission merchant Peregrine Financial Group has opened an office in Shanghai to build its foreign exchange, futures and options business. Kem Chong, director of Peregrine Financial Group's Asian division says the company is seeking to provide clients with ...