Building bridges and exchanging money
How Moneycorp and Futurice juggled different geographies when designing a modern platform.
FX
#IGForexChat 3: What does the next year hold for emerging market currencies?
FX trading provider IG is taking a look at what the next 12 months could hold for currency pairs.
Bank of America upgrades its automated FX solution
The bank now does conversions on behalf of other banks with less resources.
CurrencyFair to buy Convoy Payments for Asia advance
All part of a €20 million investment plan.
CLS invests in blockchain software firm R3
Market infrastructure group provides financial support.
Commerzbank makes first major FX pilot transaction via blockchain
First deal involving a large German corporate.
Capitolis unleashes FX novation service
In partnership with Citi, HSBC, BlueCrest and Brevan Howard.
Cashplus calls on Currencycloud’s special FX for SME payments
Especially designed to help British SMEs do better business abroad.
Addressing liquidity challenges in T+2 securities settlement
With less time to secure funding for securities trades, faster settlement in FX could be the solution.
Chinese banks connect with London’s FX market
R5-SHCH Connect has gone live for “closer financial market activity between the two nations”.
HSBC can’t dodge DoJ’s $63m fine for major FX up
Part of a three-year deferred prosecution agreement with the US Department of Justice.
The future of cross-currency payments
The landscape of cross-currency (FX) payments is taking on a whole new look – creating challenges for corporate financial managers and the need for new banking solutions.
Travelex kills off Supercard
Supercard, a new card and mobile product launched by Travelex and Wirecard last June, is now being sunsetted.
CLS to develop payment netting service
CLS Group has started building a payment netting service, using existing message protocols and distributed ledger technology (DLT), which will be open to all FX market participants – not just CLS members –and will also enable CLS members to net some FX trades that are currently settled outside the CLS settlement service.
Deutsche Bank delivers ERP integration for Bosch in China
Deutsche Bank has implemented an electronic enterprise resource planning (ERP) integration solution for Bosch’s foreign currency and renminbi (RMB) cross-border payments in China. Headquartered in Germany, Bosch is a global supplier of technology and services. The company’s operations are divided into four business sectors – automotive technology, industrial technology, consumer goods, as well as energy […]
FX industry must act now or face regulation warns LMAX
More transparency is urgently needed to restore trust in the FX industry, according to a new report by foreign exchange MTF LMAX Exchange – but to make that happen, the industry will have to collaborate.
Bloomberg and Traiana to automate post-trade for FX options
Post-trade processing company Bloomberg STP Solutions and post-trade and risk specialist Traiana have begun a joint effort to develop a straight-through processing infrastructure for FX options. The partners say it will help to reduce post-trade costs for market participants, which have typically remained higher than execution costs.
LMAX Exchange and Z.com Trade extend liquidity solution
A three-party alliance between alternative FX market LMAX Exchange, retail FX provider Z.com Trade and retail FX trading platform MT4 have built a combined liquidity pool, which aims to provide ‘last look’ liquidity to a wider market.
CLS and TriOptima debut FX compression service
FX services provider CLS Group and OTC derivatives specialist TriOptima are collaborating to launch an FX forward compression service, which they say will help customers to meet the regulatory obligation to use compression for non-centrally cleared OTC derivatives if possible.
Currency Cloud and XE.com plan “transparent” FX service
Currency site XE.com and money transfer business Currency Cloud plan to launch a new international payments service called XE Money Transfers before the end of this year, which they claim will make foreign exchange transactions more transparent.
EBS rolls out mobile FX app
FX trading service EBS has launched Watch EBS, a new mobile app that is designed to show users the global spot FX market in as close to real time as possible.
Keeping tabs on trading costs: TCA comes to FX and fixed income
Transaction cost analysis has become a staple feature of equities trading since 2007’s watershed piece of European legislation MiFID. But that’s just the beginning of a journey that is increasingly coming to transform the way FX and fixed income asset classes are traded, according to Michael Sparkes, director of analytical products and research at broker ITG.
HSBC targets online commerce with FX conversion for retailers
HSBC has rolled out a service that will allow online retailers to give customers the choice to pay in various international currencies.
Caplin targets regional banks with FX platform as a service
Smaller regional banks may want a single-dealer FX platform; unfortunately, they’re not cheap, so UK technology company Caplin Systems is targeting regional banks that want a single-dealer FX platform without building it themselves.
Bloomberg rolls out ‘actionable’ FX news service
Bloomberg has launched a new information service called First Word Foreign Exchange, which is designed to give FX traders ‘actionable’ news insight that they can quickly process and feed into their trading decisions.
Rabobank picks SuperDerivatives FX trading toolkit
Dutch cooperative bank Rabobank has chosen tools from SuperDerivatives to help revamp its global FX trading operations.
MarkitSERV and Misys team for FX derivatives clearing service
OTC derivatives trade processing service MarketSERV and banking technology provider Misys have partnered to create a service for CCP clearing of FX derivatives trades.
Tradition FX platform cuts out HFT ‘predators’
A new FX platform built by inter-dealer broker Tradition and backed by 11 major global banks aims to remove the competitive advantage of low-latency trading in FX.
Banks boost ICAP’s Traiana with $36 million investment
Interdealer broker ICAP has raised $36 million through the sale of a 12% stake in its Traiana post-trade processing and risk management business to a consortium of banks – Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, JP Morgan, Nomura, and the Royal Bank of Scotland.
HSBC plans to pilot FX netting in China
HSBC is to pilot a foreign exchange netting system in China after getting approval from authorities there – the first foreign bank to get such approval. The programme is part of the Chinese State Administration of Foreign Exchange’s recently launched Foreign Currency Centralised Management pilot scheme for multinational companies.
