Global foreign exchange volumes increased 17% from 2005 to 2006, according to new research from Greenwich Associates. At the same time, the interest-rate derivatives business recovered from a year of stagnant trading volumes with a 10% increase in 2006.
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.
Today, 56% of foreign exchange trading occurs electronically, but by 2010 the proportion will have risen to 75%. Or so claims a new report by consultants Aite Group on the largest and most liquid market in the world.
Treasury systems provider Wall Street Systems is making its Wallstreet FX foreign exchange dealing system available via an ASP delivery model, which is also described as "software as a service."
BT Radianz, a financial services connectivity provider, has announced that Logicscope, a provider of multi-asset data management and straight through processing (STP) solutions, will use the BT Radian
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.
By end of 2010, Aite Group estimates that close to 75% of FX trading will be done electronically. At the end of 2006, 66% of the FX inter-dealer market ran on electronic trading platforms.
For the first time, buy-side foreign currency traders in 2006 executed more than half of total global FX trading volume through electronic trading systems, according to a new report from consultancy Greenwich Associates.
The International Securities Exchange (ISE) yesterday announced that ISE FX Options will begin trading on Tuesday, April 17. The SEC approved ISE’s proposal to launch foreign currency options on April 3.
Cognotec, a provider of web-based institutional foreign exchange trading solutions, has announced that Advanced Markets, the US-based specialist foreign exchange brokerage firm, is to deploy Cognotec’s new retail FX trading platform, RealStream-Margin. The deployment will allow Advanced Markets to provide scalable real-time streaming prices and trade execution to its clients.