Latest Foreign exchange News: Finextra Research

Singapore turns to Thomson Reuters for currency benchmark calculations

Singapore is to use actual transactional data from Thomson Reuters to calculate benchmark currency rates in the wake of a rate-rigging scandal involving up to 133 traders from 20 banks on the island state.

18 June 2013

News/Foreign exchange

Live blog: Swift Business Forum - London 2013

Returning for its third year, the Swift Business Forum London brings together over 700 financial services professionals to explore the key challenges and opportunities facing our industry today. Finextra is liveblogging events here.

30 April 2013

News/Foreign exchange

Tradition launches spot FX trading platform

Tradition has launched ParFX, a spot forex trading platform with the backing of 11 major banks, including Barclays and UBS.

18 April 2013

News/Foreign exchange

Coinsetter raises $500k for bitcoin FX trading platform

New York-based start-up Coinsetter has raised $500,000 in seed funding as it prepares to launch its forex trading platform for bitcoin.

10 April 2013

News/Foreign exchange

FXCM makes Gain Capital takeover offer

Online foreign exchange trading platform FXCM has offered to buy rival Gain Capital for $210.4 million in stock.

09 April 2013

News/Foreign exchange

Icap sells Traiana stake to banks

Icap has sold a 12% stake in Traiana to a group of seven bank customers in a deal valuing the foreign exchange post-trade processing platform at $300 million.

14 January 2013

News/Foreign exchange

Thomson Reuters, GFI Group and SDIC Trust form Chinese FX and money broker JV

Thomson Reuters and GFI Group have formed a joint venture with Chinese outfit SDIC Trust and filed an application to launch a foreign exchange and money brokerage in the country.

23 July 2012

News/Foreign exchange

The Currency Cloud raises £2m

The Currency Cloud, a UK-based start-up offering foreign exchange payments automation, has raised $2 million in funding from Notion Capital.

12 July 2012

News/Foreign exchange

Thomson Reuters to buy FXall

Thomson Reuters has agreed to acquire multi-bank electronic foreign exchange platform FX Alliance (FXall) for around $625 million in cash.

09 July 2012

News/Foreign exchange

TransferWise rounds up A-list investors as it bids to undercut banks in currency exchange

UK currency conversion start-up TransferWise, billed as a 'skype for currency exchange", has raised $1.3 million in seed funding from an A-list team of angel investors.

18 April 2012

News/Foreign exchange

FXall hires Nyse Euronext CIO Rubinow

Electronic foreign exchange platform FXall has hired former Nyse Euronext chief information officer Steve Rubinow to head up its technology operations.

03 April 2012

News/Foreign exchange

FX algo trading to take off - Greenwich Associates

With foreign exchange evolving into a mainly electronic marketplace, the industry is poised to see massive growth in the use of algorithmic trading strategies, according to research house Greenwich Associates.

03 April 2012

News/Foreign exchange

The Currency Cloud raises $4m

The Currency Cloud, a UK-based start-up offering foreign exchange payments automation, has raised $4 million in a series a funding round led by Atlas Venture.

14 March 2012

News/Foreign exchange

Icap shakes up electronic trading business

Interdealer broker Icap has restructured its electronic trading operations to separate the reporting lines for the FX and fixed income businesses in a move that has led to the departure of division chief David Rutter.

13 March 2012

News/Foreign exchange

Terminal velocity: Base jumper carries out FX trade mid-air

In a publicity stunt for Danish online investment bank Saxo, a base jumper has carried out an FX trade using a mobile phone at terminal velocity.

20 February 2012

News/Foreign exchange

EBS test trade causes plunge in Swiss franc

A test trade that accidently sneaked into the live market on the EBS trading system was behind a mysterious plunge in the Swiss franc earlier this week, according to a Dow Jones news report.

20 January 2012

News/Foreign exchange

HFT is changing the ecology of the foreign exchange markets - BIS

High frequency trading is changing the ecology of the foreign exchange markets, with implications for its resilience in times of stress, a high-level central bankers' committee has concluded.

28 September 2011

News/Foreign exchange

Sibos Live: It's all about the Chinese renminbi

The gravitational pull generated by emerging Asian economies on global payments traffic has been starkly illustrated in Latin America, where China has come to prominence as the number one trading partner for major nations such as Brazil, Chile, Peru and Columbia, creating new challenges and opportunities for banks providing payments and FX services to corporate and institutional clients.

22 September 2011

News/Foreign exchange

MarkitServ to buy Logicscope

OTC derivatives processing services firm MarkitServ has agreed to buy UK post-trade software vendor Logicscope. Financial terms of the deal were not disclosed.

21 September 2011

News/Foreign exchange

Dab bank signs for Fis Kordoba core system

Munich-headquartered Dab bank has signed for the Kordoba Core24 banking system from US fintech vendor Fis.

16 September 2011