Currenex Receives $16 Million Cash Injection

Online currency exchange, Currenex, has received $16 million in venture capital funding in the first closing of its second round financing led by Amerindo Investment Advisors, a leading technology investment firm. Also investing in this round are Barclays Capital, TH Lee.Putnam Internet Partners and WR Hambrecht & Co. Barclays Capital joined the Currenex network in […]
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Bank One Introduces New Online Services

Bank One has launched The One Net FX Trader, its Internet-based FX platform. FX Trader offers clients real-time execution and confirmations, a library of FX research and analytical tools, as well as a tool for revaluation of outstanding FX contracts at current market rates. Peter Mesrobian, global head of FX for Bank One, says the […]
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Volbroker.com: Bringing Down the Barriers

Last month’s launch of Volbroker.com, the new online marketplace for currency options, promises to bring down the barriers to entry in this specialist market. The joint venture company was set up by six partner banks ‘ Citibank, Deutsche Bank, Goldman Sachs, JP Morgan, Royal Bank of Scotland and UBS Warburg ‘ which began live trading […]
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Five European Banks Announce Alliance

The latest entrant in the race to offer clients access to multi-dealer platforms comes in the form of an e-marketplace that aims to address a broad array of needs in the capital and treasury markets for mid-market European corporates. The initiative is being developed by five European partner banks: Banco Santander Central Hispano (BSCH), Commerzbank, […]
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NAB Rolls Out Currency Options System

The National Australia Bank (NAB) is rolling out a new currency derivatives system, dubbed Horizon. The system went live in Australia in early July, and is now in the process of being implemented in the UK and New Zealand, followed by New York by year-end. Gary Dillon, NAB’s global head of currency options, says the […]
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Brown Brothers Harriman Launches FX WorldView

Following an internal client testing phase with 20 clients, Brown Brothers Harriman is preparing to launch its Internet-based FX trading system, FX WorldView, to its institutional client base this month. The release will mark the first time that a major custodial bank has used Cognotec’s AutoDeal Lite service to target the investment management community. BBH […]
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Reuters Makes Headway into Online FX Market

Not only did Reuters make front page headlines last month following news of its involvement with Chase, Citibank and Deutsche Bank, but it is also making headway into the online FX market since it merged its DealWeb product with Tibco’s TIBMercury FX to form FX Trade Management. Since the combination of the two systems in […]
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AIGI Partners with Bloomberg to Launch Online FX Service

On July 5, AIG International (AIGI) launched AIGFX, a new online FX trading service on Bloomberg. AIGFX, created by AIGI, a member company of American International Group, Inc, and Bloomberg LP, gives corporate clients, pension funds, asset managers and hedge funds the ability to trade FX spot and forwards on their Bloomberg terminal. Profit & […]
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Israel Discount Bank Selects STP Solution

Israel Discount Bank and Mercantile Discount Bank are implementing a front to back office solution from Reuters for its trading room in Tel Aviv. The project includes Kondor+ from Effix, the core system of Reuters Risk Management product line, as the limits order management function of Reuters FX Trade Management (FXTM). The bank has also […]
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Hotspot FX ‘ Gambling on the Future of the Business

In what promises to be a groundbreaking initiative, industry veterans are setting up an online exchange that will provide the setting for commission-based FX trading. The new service, Hotspot FX, is backed by one of the largest venture capitalists in Europe, the ETF Group, as well as by renowned currency speculator Joe Lewis, who reportedly […]
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