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.
Derivatives solutions provider SuperDerivatives has announced that Saab is using its multi-asset real-time derivatives pricing and risk management platforms to implement the company's hedging strategy and to optimize the returns of its treasury pension trust.
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.
Electronic options exchange HedgeStreet says that Susquehanna International Group (SIG) and DRW Trading Group (DRW) have launched market-making services on its platform. In addition, SIG and DRW have taken investment stakes in HedgeStreet. Together with a second investment from the Chicago Board Options Exchange (CBOE), HedgeStreet has closed its latest funding round.
Inrer-dealer brokers GFI Group and ICAP are launching the first multi-broker tradable iTraxx tranche fixings for the interbank market. The month-end fixings will be established by dealers inputting prices onto a joint GFI/ICAP platform and follows on from fixings in previous months operated by GFI.
Inter-dealer broker Tullett Prebon has established a nuclear fuel derivatives desk. The firm is already active in the power, gas, oil, coal and emissions markets. The desk will initially offer utilities, miners, banks and funds, a set of standardised financially settling contracts on U3O8, but are intending to look other areas of the fue lcycle as well as wider, cross-product applications in the near future.
GL TRADE, a solutions provider for financial institutions, has announced that Russian DMA equity and derivatives broker, BrokerCreditService, will go live on EDX using GL TRADE ASP technology. BCS Group's clients will have a cost-effective opportunity to trade directly on EDX London which launched, last December, Russian IOB equity derivatives services. This enables equity and index derivatives based on IOB Russian depositary receipt instruments to be traded on-exchange and cleared by LCH.Clearnet.
NYSE Group has received approval from the U.S. Securities and Exchange Commission (SEC) to launch its fixed-income trading platform, NYSE Bonds. The newly-developed system makes us of NYSE Arca's matching technology to offer a trading platform for all NYSE listed corporate debt securities.
ICAP wants to offer electronic trading in the New Zealand dollar around the globe. The inter-dealer broker is introducing the "Kiwi dollar" (NZD) to the EBS electronic spot FX trading platform as a tradable currency against the US dollar so traders can view the NZD tradable pair along with the other major dollar, euro and yen currency pairs, and precious metals, on the same screen.