Settlement Risk
Reuters sues Bloomberg
Trading technology rivals’ battle heats up over forex patent claims NEW YORK -- US trading technology firm Bloomberg could be forced to stop using parts of its FX matching and conversational dealing technology, if its UK rival Reuters succeeds in a…
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
Fimat forex launch in Poland
LONDON – Fimat Group, the brokerage arm of French investment bank SG, is developing new exchange-related FX futures contracts in eastern Europe in a bid to widen the currency product portfolio for its institutional client base, a senior official told FX…
Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
Dollar still top currency for central banks
LONDON – Market speculation that central banks began rebalancing their reserves away from the dollar last year was misled, according to the Bank for International Settlements’ (BIS) annual report released last week.
Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
FX derivatives activity flat but healthy
BASEL -- FX derivatives volumes were relatively unchanged in the second half of 2002, the Bank for International Settlements reported last month.
HK launches euro clearing system
HONG KONG -- Hong Kong went live with a new euro clearing system last week, in an effort to reduce FX settlement risk in the Asian timezone.
Indian market opens up
MUMBAI -- Reform of India’s FX rules could create the next large emerging market, signalling a lucrative new area for banks to exploit.
Client trading volumes rising
LONDON -- Booming hedge fund interest and an increasing number of client banks in the market are boosting global customer forex volumes, according to data from research consultancy Greenwich Associates.
CLS interest picks up in Asia
SINGAPORE -- Asian financial institutions are becoming increasingly aware of the continuous-linked-settlement (CLS) service, according to research made public by ABN Amro last week. Just 30% of respondents in the bank’s survey of its clients in the…
Trading practices yet to change post-CLS
NEW YORK -- Banks are reporting little change in the way they trade as a result of using the new continuous-linked settlement (CLS) service, according to an official survey out this week.
Tech glitch strikes CLS
NEW YORK -- The failed settlement of over 20,000 Australian dollar and Japanese yen trades on the Continuous Linked Settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials told FX Week .
Tech glitch strikes CLS
NEW YORK -- The failed settlement of over 20,000 Australian dollar and Japanese yen trades on the Continuous Linked Settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials told FX Week .
ECB highlights dangers of over-concentrated market
FRANKFURT -- Market consolidation and a reliance on electronic trading could lead to an over-concentration of risk and liquidity among too few market participants, the European Central Bank has warned.
Asian forex still untapped
SINAGPORE -- Five years on from the Asian financial crisis, FX trading opportunities in the region remain largely untapped, market participants told FX Week .
CLS settles a trillion a day
NEW YORK -- Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
Traders reap rewards in LatAm markets
MEXICO CITY -- As clients and banks scour the globe for volatile FX markets, Latin America has become a key battleground for new FX business, senior market participants told FX Week .
BIS expands derivatives data
BASEL -- The Bank for International Settlements said last week that it is expanding its statistics on banks’ country risk exposures to include data on derivatives exposures to individual countries.
January - Prime brokerage kick-starts the year
From the Allfirst Financial scandal to the launch of CLS, you read it here first in 2002. FX Week reviews the top news stories of last year
CLS showdown in 2003
LONDON -- The stage is set for a pitched battle for third-party CLS business in 2003, according to senior bankers interviewed by FX Week.
August - The race for CLS clients
The race for CLS clients
Technology briefs
Bundesbank completes STP for foreign currency reserves