Quant House, a trading solutions provider, has announced it has implemented access to Hotspot FXi, the multibank foreign exchange marketplace, releasing the Hotspot Quant House feed handler. Quant House's programme trading solutions include low latency market data technologies, trading strategies development framework, execution engine and proximity hosting services in order to help programme trading firms to trade ahead. The new feed handler is designed to allow easy integration of Hotspot FXi feed into algorithmic trading applications using a single API, the Quant House API avalable in C++, Java, .NET or FIX.
WestLB, a German financial services provider, and Gissing Software, solution provider in the routing and transformation of real-time market and trade data, today announced that WestLB has deployed Gissing RealtimeXL for a community of money markets traders based in Dusseldorf, London, New York and Tokyo allowing them to contribute FX deposit rates to internal audiences via the bank’s intranet. The system went live in January 2007.
Bloomberg Tradebook Services has launched an electronic foreign exchange trading platform called BLOOMBERG TRADEBOOK FX, which it says "ushers in a new era for global FX market participants." BLOOMBERG TRADEBOOK FX is an electronic marketplace providing institutional traders with the ability to transact in foreign currency exchange while preserving their anonymity from other FX market participants. Users can also make use of sophisticated trading algorithms to implement trading strategies.
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.