Foreign Exchange

Scotiabank takes the e-FX lead in Mexico with Cognotec

Cognotec, a supplier of foreign exchange dealing technology, says that Scotiabank has adopted and deployed Cognotec's AutoDeal+ trading platform in Mexico and is utilising the platform to deliver a new automated FX trading service to its clients.

Merrill Lynch launches collaterised debt obligations for foreign exchange

Merrill Lynch has announced that it is set to launch the first FX CDO (collaterised debt obligation) or CFXO (collateralised FX obligation), an investment product designed to apply the CDO technology commonly used within the credit world to foreign exchange as an underlying asset class. The CFXO will be managed by Credit Agricole Asset Management (CAAM) and rated by S&P.