Technology
WestLB to adopt Citigroup FX settlement service
Germany's WestLB has subscribed to Citigroup’s e-business CLS (continuous-linked settlement) settlement services for foreign exchange settlement. The deal will allow WestLB to offer CLS settlement services to its German savings bank and Landesbank…
Globex glitch grounds CME's Eagle platform
The maiden flight of the Chicago Mercantile Exchange's (CME) Eagle (electronic arbitrage Globex liquidity enhancer) platform has been delayed until October due to problems with Globex, the CME's electronic trading platform, which supports Eagle.
SuperDerivatives to introduce equity derivatives pricing system
SuperDerivatives, a London-based company offering pricing systems for currency options, has said it is planning to expand its business by launching an equity derivatives pricing system. It said an accepted market price for equity derivatives dealers…
S&P acquires Default Filter from IQ Financial
Standard & Poor’s (S&P) has acquired the Default Filter credit risk management assets from risk management software company IQ Financial Systems.
Invesco to use JP Morgan Chase's TradeStarr to reduce op risk
Invesco Asset Management – the UK fund arm of Amvescap, which has about $400 billion in funds under management – is to use JP Morgan Chase’s trade settlement tracking and relative ranking (TradeStarr) service to statistically rank the settlement…
Principia Partners boosts staff for global expansion
New Jersey-based financial technology provider, Principia Partners, is increasing its sales and marketing staff. The recruitment drive is part of a global expansion strategy for its global capital markets front-to-back office system, which supports…
Icor plans to offer electronic rate swaps at year-end
Electronic interdealer broker Icor plans to offer dollar-denominated interest rate swaps at the turn of the year. The New York-based broker, 50% owned by global information services company Reuters, currently trades only foreign exchange options.
GFI obtains $50 million credit line to support derivatives business
GFI Group, a New-York based provider of software, brokerage and data services to the derivatives and cash markets, has obtained a new $50 million credit facility, consisting of a $30 million revolving credit facility and a $20 million term loan. This…
Triple Point launches upgrade of energy trading system
Triple Point Technology, a provider of commodity trading and risk management systems based in Westport, Connecticut, has released version 2.0 of Power XL, its advanced trading system for deregulated energy markets.
FXall edges ahead of rivals
FXall is edging ahead in the battle for supremacy among multi-bank FX trading portals, according to a major survey of the market made public last week.
BBSP launches FX implied volatility forecasting
French technical analyst forecasting company BBSP has launched a service that charts and forecasts implied volatilities for currencies, officials at the firm said.
DePfa implement complete Basel II compliant risk manager
DePfa Bank has completed the implementation of the Kamakura Risk Manager suite having purchased the license in late 2001. The system is the first to completely integrate credit risk, market risk, asset and liability risks and meets the needs of Basel II.
Isda OTC derivatives operations benchmarking survey shows mixed results
The International Swaps and Derivatives Association’s latest over-the-counter derivatives operations benchmarking survey showed an increase in processing speed and automation for standardised products such as vanilla forward rate agreements (FRAs) and…
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TD Securities to upgrade derivatives trading and risk system
TD Securities, the wholesale banking arm of TD Bank Financial Group, has teamed up with NumeriX, a provider of exotic derivatives data and analysis, to upgrade its trading and risk management system.
ICE to buy Enron’s back-office architecture
Atlanta-based commodities market-place the IntercontinentalExchange (ICE) plans to acquire the assets of CommodityLogic, a collection of back-office software and hardware, from bankrupt energy trader Enron. The purchase and sale agreement is subject to…
CLS completes first live trials
Continuous Linked Settlement (CLS), a global system designed to substantially reduce foreign exchange transaction risk by settling trades in real time, moved a step closer to implementation today with the completion of its first live trials.
ING to use Credient for credit portfolio management
The Netherlands-based ING Group has selected SunGard Trading and Risk Systems’ Credient application to support its credit portfolio management business. The application service provider-run product will provide ING with a global, integrated, real-time…
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