e-Forex Magazine July 2008

e-Forex Magazine July 2008

e-Forex July 008 issue 32 - Outside the comfort zone - FX e-commerce operates in a new era of risk. News driven algorithms - integration into FX trading strategies. Trading through banks - the value proposition for Retail FX investor.

Outside the comfort zone: FX e-commerce operates in a new era of Risk

Leader

Dr Andrew Aziz, Executive Vice President, Risk Solutions, Algorithmics, Justyn Trenner, CEO of ClientKnowledge and and Steve White, Executive Director, RiskCare discuss the importance of forward-looking risk frameworks that link transaction level decisions with high level strategy and their applicability to the FX market....show more

 

e-FX Industry Report - From Hedging to Alpha: e-FX gains even greater momentum

e-FX Industry Report

Volumes in the FX marketplace continue to increase from year-to-year, reaching $3.2 trillion a day globally in 2007, with an increasing number of market participants. CME Group recently commissioned a research initiative to look behind the headline figures and identify what trends are driving this growth. The Global FX Market Study, conducted by, the wholesale financial services research and consulting firm ClientKnowledge, showed that market participants’ growing focus on electronic trading, risk management and cost control is driving the record growth in global foreign exchange (FX) markets....show more

Dukascopy - SWFX Swiss FX Marketplace launches internet television project.

News

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SunGard releases latest version of Front Arena

News

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Dukascopy – SWFX Swiss FX Marketplace – offers White label program

News

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News

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ACM USA LLC opens in New York

News

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New management hires at Interbank FX / IBFX.com

News

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New FX Exposure Management system from FiREapps

News

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FX Bridge offers multi-screen trade station front-end

News

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Global Tradewaves offers Collateralized Transactions

News

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MIG changes corporate identity

News

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Dukascopy - SWFX Swiss FX Marketplace offers give up solution

News

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Saxo launches WebTrader 2.0 and MobileTrader

News

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TraderTools launches Liquidity Management platform

News

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BAWAG licenses GFI’s FENICS FX

News

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Barclays Stockbrokers launches spot FX on BARX

News

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State Street streamlines online Settlement instructions for FX

News

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Brown Brothers Harriman enhances FX OrderView®

News

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Integral launches FX Power Trader™

News

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FX Solutions introduces GTS Mobile FX trading platform

News

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Bloomberg offers FX Option Portfolio Analysis

News

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DZ Bank upgrades to AutoDeal+ 3.40

News

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Swedbank goes live with Siena Gateway

News

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Deutsche Bank launches FX structured deposit platform

News

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NO news – is GOOD news in Financial Markets?!

Foreword

During the last few months, when speaking and commenting on behalf of ACI, The Financial Markets Association, I often started with the slogan: "NO news – is GOOD news. We are rather tempted not to open the newspaper in the morning as we might be at risk of misconstruing the superlatives being applied to the financial markets..."...show more

 

FX E-Services: Helping Clients Meet the Challenge of Volatile Markets

Marketplace

Simon Wilson-Taylor looks at the pressures being placed on the FX buy-side by the current turmoil in Global Markets and what role e-commerce can play in helping them meet the challenges....show more

 

From client services to automation - taking FX prime brokerage to the next level

Features

Five years ago, the FX prime brokerage business was transformed by the automation of give-ups, so that the need to re-key these trades was eliminated, and straight through processing rates dramatically escalated. Since then, FX prime brokerage service offerings have become increasingly sophisticated. Frances Maguire speaks to some major players, about how they are looking to rethink the entire process and move to the next level of service, despite the testing times of the last year....show more

 

Is your FX data relationship going sour?

Features

Corey Edens, CFO/COO of FiREapps looks at how new technologies and methodologies transform data into reliable FX information to protect corporate value...show more

 

Delivery, processing and storage: key advances in FX data management

Features

The foreign exchange market has always considered itself special and quite unlike other asset classes. The over-the-counter culture, the reliance on age-old relationships between price-givers and price-takers, the instinctive approach to trading behaviour – they are all long-held traits that, even in a time of momentous technological change and transformation, the long-term participants have sought to retain. Some of this is down to the conservatism of many of the traditional FX participants – the types that resist any radical changes, adhering to the maxim that the markets have operated in the same way for many years and will continue to do so. If it is not broken, then do not fix it. However, as the statistics from the Bank of International Settlements triennial survey into FX volumes will testify, there has been an increasing number of new participants entering the FX world, bringing with them their own expectations and demands and little awareness of or respect for the traditional way of doing things....show more

 

Regional eFX Perspective - Southern Europe

Regional eFX Perspective

Over the past three years the growth of the online foreign exchange market has become spectacular to say the least. With more than $1.5 trillion traded daily there is still room for growth as the number of providers offering this service increase. Southern Europe is behind other areas of the globe in terms of eFX, mainly due to a slow economic transition from traditional sectors such as agriculture, industry and construction. FX has been largely predominant in the Anglo-American regions, but is now starting to take off in southern Europe as these countries develop their financial markets and instruments and start to throw research and development cash in the direction of FX....show more

 

Deploying rule-based FX algorithms in the quest for Best Execution

FOCUS

Where would we be without rules? At the time of writing Europe is in the middle of its four-yearly football tournament where once again controversy is raging over the persistently enigmatic offside rule which was originally designed to make the game a more attractive spectacle and now serves to fuel post-match arguments between rival fans. This debate, which has raged for decades, traditionally centres on the lack of consistency in applying this rule. The room for interpretation is too wide, leading to these inconsistencies and the accusation that it may be one rule for one and another rule for the others....show more

 

E-Forex and the Push for Best Execution

FOCUS

Foreign exchange (FX) is a commodity, traded both spot and forward. It is the most liquid, globally traded commodity, available nearly 24x7. FX is traded over the counter (OTC) in more locations than any other commodity or financial instrument. Facilities now exist for all classes of investor to buy and sell foreign exchange electronically as a commodity and packaged as a financial instrument, such as an exchange traded fund, mutual fund, or contract for differences...show more

 

Just what is Best Execution in FX? And how do algorithms achieve it, if indeed they do?

Algorithmic FX Trading

Best execution in the FX markets is an ephemeral beast. It’s unclear just what it is, and no one claims to have determined what it actually looks like. The currency marketplace operates in the dark, with a lack of transparency and clarity with reference to its price discovery process. Today that’s all begun to change, and pricing and liquidity are coming into the light. ...show more

 

Integrating news driven algorithms into FX trading strategies

Algorithmic FX Trading

The technology behind machine readable news has become more mature allowing providers to refine their offerings and for high frequency trading firms to use them as a greater part of their quantitative trading strategies. Nicholas Pratt examines what factors a firm must consider when looking to implement machine readable news within their own trading desks and what help may be at hand...show more

CEP: A breakthrough technology for FX

Debate

With Mark Palmer, President and COO of StreamBase Systems Inc, Jeff Wootton, Director of Marketing at Aleri, John Morrell, Director, Product Marketing at Coral8 and John Bates, Managing Director of Progress Apama....show more

 

e-FX: Key trends in development and deploymen

FX Mythbusters

Scott McLeod at Caplin Systems, takes a look at some of the key questions and perceptions surrounding the development and deployment of e-FX...show more

 

Network Capacity Planning: Helping to optimize FX trading bandwidth requirements

The e-FX Mechanic

Today’s investment services organizations participating in global foreign exchange markets operate multiple data centers and geographically dispersed sales offices all connected by high-speed networks. Foreign exchange trading desks themselves need to communicate with a variety of critical counterparts that might include scores of brokerage firms, hundreds of worldwide banks, and numerous currency ECNs (electronic communication networks) such as Hotspot and Lava. So how do you perform cost-effective and efficient network capacity planning on such mission critical segments?...show more

 

Leveraging FX e-commerce services for Private Wealth Management

Viewpoint

FX E-commerce for Private Wealth Management is gaining strength as firms look at ways to expand their product offering to clients in a more constructive and efficient way. Breadth of product is an essential ingredient in being a complete and effective Wealth Manager which is why more and more firms are looking at ways to fine tune both the product selection and delivery – in many cases looking to an open architecture framework to meet these needs. In addition, FX as an Asset Class is getting more attention as clients look to diversify away from more traditional asset classes and build a more diversified portfolio. Clients are also increasingly taking control over their own product selection and seeking tools which enable them to act independently. These factors put together are creating a growing demand for FX Ecommerce products. ...show more

 

eSignal 10.1

New Release

eSignal represents one of the most comprehensive and powerful all round analytical and order entry packages on the market today for the FX trader. The release of eSignal 10.1 further increases the power of the product offering, by adding The TradeManager, a DOM / ladder order ticket entry to a number of major FX (and other) brokers. With comprehensive charting, user defined order entry and execution, custom indicators and back testing, as well as the powerful eSignal Advanced GET (Gann Elliott Techniques) Edition, it makes for a formidable offering to both the professional and advanced retail markets....show more

 

Diversifying Investment Portfolios: the case for FX Managed Accounts

Retail Forex Client

The FX market is attractive to investors because it is uncorrelated with equity markets. A managed account provides an investor with the opportunity to participate in the FX market and benefit from its high profit potential without having to trade for themselves. Accounts are also actively managed, so the investor is not invested in the market all the time. Heather McLean looks at what's involved and the key importance of trading technology in FX Managed Accounts....show more

 

Site Inspection with MIG Investments

Retail Forex Client

MIG Investments recently launched its corporate rebranding campaign, a new website and plans to submit its application for a Swiss banking license later this year . Larry Levy looks at the website offered by the company which is located Neuchâtel in Switzerland and is regulated by the Swiss Federal Department of Finance (SFDF). The MIG trading platform supports over 20 languages whilst the telephone support staff speak many of the major languages. MIG offer both IB and White Label programmes. In 2009 the company plans to become a Swiss Bank, offering further financial services and products, including asset management....show more

 

Profile: MB Trading: A Competitive Niche

Retail Forex Client

MB Trading (Manhattan Beach Trading, Inc.) was founded in 1999 by Ross Ditlove and institutional broker Steve Demarest. It occupies a valuable space in the FX broking space, by acting as an ECN broker for minimum account sizes as low as $400, thus allowing the retail client a chance at competing in a very low spreads environment normally reserved for bigger players. Recently, MB Trading acquired introducing agent EFX Group LLC, thus consolidating the group further....show more

Retail Forex Client - Trading through banks - considering the value proposition for retail FX investors

Retail Forex Client

An increasing number of banks are now offering private investors the ability to trade FX on a speculative basis, on margin, previously only offered by retail brokers and portals that aggregated prices for private investors from the various brokers. Frances Maguire investigates what products are currently available....show more

 

With Kris Monaco, Director of New Product Development at the International Securities Exchange (ISE).

e-Forex Interview

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With Paul Jackson, Senior Dealer at CMC Markets

Tradertalk

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