CMB Wing Lung Bank Revamps Back Office The Hong Kong-based CMB Wing Lung Bank has implemented a back-office custody solution from post-trade financial technology vendor GBST in an effort to grow its custody banking business, officials say. The bank, which is a subsidiary of China Merchants Bank, is using GBST’s Syn~Ops Custody product to… Read More >>
Bloomberg STP and Traiana to Tackle FX Options
Bloomberg STP Solutions, the post-trade arm of the market data and news giant, reports that it is joining forces with Traiana, a vendor of pre- and post-trade solutions, to automate many of the now-manual processes that form the workflow of foreign exchange (FX) options. Essentially, the solution to come will link Traiana’s Harmony messaging network… Read More >>
RJO Adds Two to FX and Precious Metals
Chicago-based R.J. O’Brien & Associates (RJO), the venerable futures brokerage and clearing firm, has named Kevin J. Danca, 45, and Michael G. Connolly, 42, as directors, FX and precious metals. They will be based in the New York office and will report to Matthew Ardizzone, RJO global head of FX sales. “The two bullion market… Read More >>
MoneyCorp to Use Fenics FX Derivatives Pricing
Fenics Software Ltd., a vendor of foreign exchange options software, reports that TTT MoneyCorp, a UK-based foreign currency exchange broker, has licensed its Professional FX derivatives pricing and risk management system. “We have been able to build an innovative platform supported by FENICS technology,” Henry McKeon, chief information officer (CIO) at MoneyCorp, says in a… Read More >>
Yuanta Bank Connects via Fenics Gateway
Fenics, a provider of FX options software, reports that Yuanta Bank, a Taiwanese commercial bank, has connected to Fenics Gateway and also extended its Fenics Professional license. Fenics Gateway is a hosted messaging hub connecting multibank and single bank transactional venues to FENICS Professional clients, according to a company statement. “It allows STP [straight through… Read More >>
EMIR Blesses CME Clearing Europe
CME Group, the derivatives exchanges operator, reports that its European clearinghouse, CME Clearing Europe, has received authorization under the European Market Infrastructure Regulation (EMIR) as a central counterparty clearing house (CCP). The authorization covers all over-the-counter (OTC) derivatives and futures products currently cleared by CME Clearing Europe, including interest rate swaps, energy and commodities, and… Read More >>
New Markit Service Targets FX Options
Financial information services vendor Markit is hoping to make the manual exercise of foreign exchange (FX) options a thing of the past. Markit officials are developing an electronic service for trade confirmation and exercise management of FX options, according to a company statement. The new service, which will be deployed by MarkitServ, Markit’s trade processing… Read More >>
