Atriax ‘ World’s Worst Kept Secret Revealed

The “worst-kept secret in the world”, the long-awaited announcement of Atriax, the online FX marketplace formed by 50 banks including four major shareholders ‘ Citibank, Chase Manhattan Bank, Deutsche Bank and Reuters ‘ finally hit the markets on 24 October after five months of speculation. Much as the bank-led EBS Partnership has transformed the interbank […]
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UBS Warburg Offers Clients of MKI an Integration Solution

UBS Warburg has partnered with Midas-Kapiti International (MKI) to provide the Fx2B service inside MKI’s Meridian Middleware and its connected front, middle, and back-office products. Clients of MKI will achieve seamless integration with UBS Warburg’s Fx2B, according to Guido Kurmann, executive director, business development, for UBS Warburg’s Treasury Products e-commerce area. “This enables our partners […]
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Cognotec Launches New API Service

Cognotec has launched a new Application Programming Interface (API) service called Cognotec AutoDeal Connect to automate the underlying FX transactions arising from real-time cross border trade and securities transactions. Albert Maasland, Cognotec’s global head of marketing, says the release uses the core foreign exchange version functionality of the browser-based services by integrating the API into […]
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State Street Launches “Quick-FX”

State Street has launched a new electronic FX trading feature, called Quick-FX, which complements its existing FX Connect service, the bank’s multi-bank electronic FX trading system designed for institutional investors. Quick-FX is targeted at mid-sized corporates and hedge fund managers that require a high-speed transaction capability for single, large spot or forward trades with multiple […]
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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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