Foreign Exchange

AIG launches emerging markets foreign exchange index

American insurer AIG has launched the AIG Emerging Markets Foreign Exchange Index in response to the growth of investor interest in emerging markets and foreign exchange as asset classes in recent years.

GAIN Capital Group launches next generation Forex Trading Platform

GAIN Capital Group, a provider of Foreign Exchange (Forex) trading and services for institutional investors, yesterday launched a new margin trading platform FOREXTrader for Windows. It was tested with a select group and is available free of charge to GAIN Capital Group global clients.

New foreign exchange margin trading platform launched by GAIN Capital Group

Buy-side foreign exchange trading services provider GAIN Capital Group has launched a new version of its margin trading platform, FOREXTrader for Windows. Following a successful beta test with select clients, the platform is now available at no charge to GAIN Capital Group clients around the world. It can be accessed via GAIN Capital (www.gaincapital.com), GAIN's service for professional traders, and FOREX.com (www.forex.com), GAIN's retail division for self-directed individual investors.

State Street completes acquisition of Currenex

State Street said earlier today that it had completed the closing of its acquisition of Currenex. "The acquisition accelerates State Street's participation in the fast growing electronic foreign exchange trading market while significantly increasing and diversifying State Street's trading customers beyond traditional asset managers to include more active currency managers and hedge funds," said the Boston-based bank in a statement. "Together, State Street and Currenex will provide customers with the most comprehensive set of foreign exchange trading capabilities available in the market place today."

FXall launches new foreign exchange ECN called Accelor

FXall today announced that it has gone live with Accelor, a foreign exchange ECN for professional market participants. It aims to combine the anonymity of ECN trading with an advanced technical architecture and comprehensive market data.

Hedge funds driving foreign exchange markets on to electronic platforms, says Celent

Electronic trading of foreign exchange continues to grow fast, and the market could increase from close to US$3 trillion to US$4 trillion of daily turnover by 2009–2010, with 75% of the interdealer spot market volume and 50% of the dealer-to-client volume traded electronically. Hedge funds lie behind the drive on to electronic platforms, and will accelerate it.