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FXall launches Accelor, the foreign exchange ECN designed for intelligent trading

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FXall is now live with Accelor, the next-generation foreign exchange ECN for professional market participants. Accelor sets a new standard in foreign exchange trading, combining anonymous ECN functionality with advanced technical architecture and comprehensive market data to meet the needs of the most demanding professional FX traders. These include some of the world's largest financial institutions, from banks to hedge funds and asset managers. This established community of diverse participants means more natural interest, ensuring deep liquidity and consistent pricing under all market conditions.

Accelor has already attracted support from many of the industry's leading banks, prime brokers and broker-dealers including ABN Amro, AIG Financial, Bank of America, Citi, JP Morgan, Marex, Rabo bank, RBS and UBS.

The system supports a variety of trading styles and execution methods, and offers a wide range of advanced order types. Its high-speed matching engine has been architected for minimal latency, with orders acknowledged within 3 milliseconds and filled within 20 milliseconds. Orders are processed according to transparent business rules, ensuring equal access for all participants.

This is backed up by the most comprehensive market data available - including full depth of book, completed trade information and historical data - enabling users to make more informed trading decisions.

Accelor is complemented by FXall's extensive range of trading and post-trade services - including forwards, swaps, NDFs and trade splits and rolls - offering users a complete solution for FX trading and workflow.

For more information, email accelortrading@fxall.com or visit www.accelortrading.com.

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FXall wins Euromoney award for 6th consecutive year

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FXall has come first in Euromoney's influential FX Poll for the sixth year running. The Euromoney poll is an annual survey that measures the performance of leading foreign exchange banks and service providers. FXall was voted top multi-bank and independent portal with 32.13% of market share.

More than 8,000 institutions took part in the 2007 survey, representing a market share of more than $124 trillion US dollars (up 46% on the 2006 sample size of $85 trillion).

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Volumes surpass $70 billion

FXall, the world's leading foreign exchange platform, processed record volumes of more than $73 billion in a single day in March 2007. In addition, volume on the platform was up 41% in Q1 versus the same period in 2006. 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.

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FXall introduces benchmark fixings to QuickOMS

Citi, HSBC and RBS make fixing series available over FXall

FXall recently announced the addition of benchmark fixings to its order management solution QuickOMS. This means that clients can now submit request-for-stream and benchmark orders through a single, integrated service.

Benchmark fixings are independent, auditable FX rates designed to provide an accurate reflection of the FX market at the time the rate is fixed. By submitting an order for execution at a particular fixing, asset managers and corporate treasurers can be confident that they are achieving some of the most competitive rates at the time of execution.

FXall's service enables clients to submit orders for execution at any one of a range of industry-standard fixing series from Citi, HSBC and RBS. Each bank has made its full benchmark fixing service available through FXall.

Anu Jayanti, Managing Director and Global Head of FX Sales at Citi, said: "As a leading provider on FXall, we are pleased to offer our clients the ability to access our market leading CitiFX Benchmark product via QuickOMS. We look forward to working with FXall on this exciting initiative."

Alan Clarke, Global Head of e-FX at HSBC, said: "We are delighted to be making our new fixing series available over the FXall platform to our clients as we recognise there is growing demand for this type of service. With independence of the pricing crucial to our clients the data published in the HSBCfix is provided by WM/Reuters. This gives us and our clients a well established and respected independent source of foreign exchange rates, used widely by the fund industry for portfolio valuations and performance measurement."

Martin Spurr at RBS said: "RBS are delighted to have been able to work with FXall on another of their major new product launches. FXall is a very important relationship channel for RBS clients and we are firmly committed to the continued development of the range and depth of services that are available through this channel.

"We understand the importance of transparent FX trading to each and every client sector and have been staggered by the rate of uptake of benchmark trading by our clients. We see that this growth will continue, particularly as regulatory pressures such as MiFID are only set to increase. Managing FX transactions at RBS FiX rates on the FXall platform will enable our relationships to benefit from both the transparent pricing of RBS FiX and the deep STP functionality of FXall".

To request a copy of FXall's brochure on Benchmark fixings, email info@fxall.com

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Training Seminar on 14 June

Having successfully completed a series of training courses for FXall staff we would now like to extend these to our clients and partners free of charge. The first in the series is a basic introduction to FX and Money Markets:

Topics to cover:

  • What is FX and why trade?
  • Who trades FX?
  • Economic and political factors affecting FX rates
  • Basics of trading
  • Introduction to Prime Brokerage
  • Relationship trading vs anonymous trading
  • Introduction to Money Markets (loans and deposits only)

Date: Thursday 14 June
Time: 2pm - 5pm
Venue: FXall offices, Citypoint, 1 Ropemaker St, London EC2Y 9HT

Spaces are limited to 25. To sign-up email training@fxall.com today.

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Upcoming FXall events

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Are you up-to-date with FX best practice?

The third edition of FXall's Best Practice handbook is now available, with topics including a MiFID update, NDFs electronic trading and the rise of algorithmic trading.

For your copy, please email info@fxall.com

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Provider announcements

Lehman Brothers

Lehman Brothers is a leading provider on FXall for QuickTrade and QuickFill. All platform functionality and products, including block trading and NDFs is supported, as well as competitive autopricing for large amounts in all major and EM currencies. We continue to develop new services with FXall to enhance your FX experience with Lehman. Consider us for all your FX requirements, please direct any enquiries to your sales contact or email efx_onboarding@lehman.com

Helaba

Landesbank Hessen Thueringen (Helaba), one of the leading German regional Landesbanks, is now live on FXall. The eFX needs of our European corporate and institutional customers are met over the FXall platform and we envisage continued growth of our FX business. For further information on all Helaba's FX services contact michael.burckhart@helaba.de.

Danske Bank

Danske Bank has introduced a new pricing engine for consistent auto pricing on FXall. Together with increased auto quoting limits and tight spreads on a large number of auto quoted currency combinations, we believe this will cement our position as customers' preferred Nordic provider on FXall. We invite all our customers to test the improved functionality and pricing. For more information on Danske Banks eFX capabilities please contact e-trading@danskebank.dk

BHF Bank

BHF-Bank, which is one of Germany's most prestigious private banks, is pleased to announce they are now auto-quoting for spot, forwards and swap rates in all the major currencies on FXall. BHF-Bank has always been one of a kind, its hallmarks being enormous dedication and commitment to providing excellent services and liquidity for its clients. For more information on getting BHF-Bank pricing please contact e-fx@bhf-bank.com.

HSBC

HSBC has recently enabled HSBCfix for FXall's Quick OMS clients. The HSBCfix is provided by Reuters/WM and is an independent service offering 70+ spot rates and 11 forward fixings regularly throughout the day. Emerging markets remain a key focus for HSBC and we are further building on this by adding new currencies, improving pricing and increasing auto execution limits in order to improve client access to this increasingly important sector.

RBS

RBS Global Banking & Markets has already increased its offering on the FXall platform to include RBS FiX. An innovative algorithm serves as backbone to the service and enables RBS to publish an independent foreign exchange price from multiple sources, including EBS benchmark prices (volume weighted), Reuters and broker rates. Now, in response to the needs of clients and the changing market, RBS are refining their consistent, continuous market making and pricing capabilities further. For information about RBS FiX on FXall or to find out about RBS' latest developments, please contact your FXall sales contact.

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