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FXall for...
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| Date: November 2006 |
Volume: 15 |
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Contents |
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FXall introduces internal dealing functionality to QuickOMS
FXall goes live with money markets trading
FXall volumes surpass $64 billion
FXall voted 'Best Multibank FX Portal'
Matthew Frymier elected as FXall chairman
TCV invests $77.5 million in FXall
FX Week names FXall Best Professional e-Trading Venue
FXall honored in Securities Tech 50
Are you up-to-date with FX best practice?
Provider announcements
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FXall has recently incorporated internal dealing functionality into its order management solution, QuickOMS. Aimed at corporates and asset managers, Quick OMS delivers the ability to efficiently manage treasury activity across multiple locations. Clients can:
- Electronically trade requirements between locations
- Selectively permission individuals who can trade in the market in their various locations
- Reduce execution costs by netting internal requirements before trading
- Automatically add mark-up between central treasury and subsidiaries
- Automatically book trades after execution for real-time STP Ensure compliance with corporate policies with a comprehensive entitlement model and full trade audit trails
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FXall has been named Best Professional e-Trading Venue in FX Week's prestigious annual eFX awards.
The magazine explained that it was 'the continual evolution' undertaken by FXall that helped to secure the award. One judge said: "FXall has the continued dominance and the ability to keep rounding out the offering and growing the volumes over what the others manage to achieve".
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FXall has announced the successful launch of its new money markets trading service. Aimed at asset managers, banks and corporate treasurers, the service delivers straight-through processing and workflow tools to streamline money markets trading and enable users to split deposits across multiple banks.
The platform went live in June 2006, supported by a number of banks including ABN, Barclays, ING, KBC, Lloyds, and RBS. More than 65 institutions are now participating in the service, and new clients are signing up every week.
To find out more about the service, please contact your usual FXall representative, or email moneymarkets@fxall.com.
Click here for the full press release.
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Deloitte's 2006 Global Treasury Management Systems Survey has found that FXall is the trading system most widely used by corporate treasurers. Overall, 39% of corporations use an online trading system to execute FX, money markets or other instruments.
The report, published in October 2006, surveyed CFOs and treasurers in corporations, financial institutions and public institutions across the world.
Click here to view the full survey.
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FXall's volumes have broken through $64 billion in a single day. In addition, volume on the platform was up 55% in October versus the same period the previous year.
The increase in trading activity was due to a combination of new clients joining the platform and increased activity from existing users. Growth came from all client segments, including hedge funds, asset managers, banks, broker-dealers and corporations.
Click here for the full press release.
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FXall has been honored in the inaugural Securities Tech 50, a ranking of the Top 50 global technology and institutional front office providers compiled by Financial Insights and Securities Industry News. FXall ranked 16th, the only FX trading platform to feature in the report.
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FXall has appointed Bank of America's Matthew Frymier as chairman. This is a non-executive role, which is elected annually.
Frymier is a Managing Director in the Strategic Investments Group, the direct investment arm of Banc of America Strategic Capital which currently manages over $6 billion of direct and fund investments.
Previously, Frymier was a senior trader with Bank of America's primary dealership, serving as a market maker in U.S. Treasury Securities for the bank's institutional client base and maintaining proprietary risk positions on behalf of the bank. He also served as eCommerce Director for the bank's Treasury, Agency and Money Market businesses.
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The second edition of FXall's best practice handbook is now available, with topics including MiFID, best execution and back office processing. The handbook also incorporates case studies illustrating how FXall's clients have achieved best practice.
For your copy, please email info@fxall.com.
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Leading global private equity firm Technology Crossover Ventures (TCV) has purchased a minority stake in FXall for US$77.5 million.
The investment will accelerate growth while supporting FXall's core strategy of providing asset managers, banks, broker-dealers, corporations and hedge funds with foreign exchange execution and post-trade services and deep liquidity across all currency pairs.
As part of the refinancing TCV partners Henry Feinberg and Robert Trudeau have joined FXall's board. FXall welcomes the additional expertise their appointment will bring.
Click here for the full press release.
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