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, 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.
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 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 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.
Electronic foreign exchange platform FXall has added benchmark fixings to its order management system, QuickOMS. This means that clients can now submit request-for-stream and benchmark orders through a order management window.
Foreign exchange continues to grow and adoption of electronic trading has been vigorous, according to Celent report
In a new report by Boston-based financial research and consulting firm Celent, it is estimated that the FX market could grow 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.
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.
Orc Software, a provider of technology for advanced trading, market making and brokerage, yesterday announced that Nordea, a financial services group in the Nordic and Baltic Sea region, will offer FX execution on the Orc ExNet to ExNet participants, commencing Q1.
Barclays Capital's FX strategy team has recently published an article entitled "Carry trades: market regimes, positioning risk and petrodollars," in which it discusses whether last week's setback to carry trades is temporary or if an even bigger correction is around the corner.