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FXall for...
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FXall trading volumes reach $13.4 trillion in 2007
FXall announced record annual trading volumes of over $13.4 trillion in 2007. Trading activity highlights include:
- Volumes increase 37% year-on-year.
- Daily volume surpasses $98bn in the fourth quarter.
- Growth in trading volumes continues to be driven by new client activity, in particular from the investment community, which now accounts for over 50% of volume traded over FXall.
The record volumes coincide with the Bank for International Settlements (BIS) report released in December 2007 which highlights a number of key drivers for FX market growth. Significant expansion has taken place in the dealer to customer market as buy-side and corporate participants capitalize on the value in the FX market for either hedging or investment purposes. Diversification by investors with a long term vision, such as pension funds, and increasing turnover in emerging market currencies have all led to growth in trading volume in 2007.
The growing role of algorithmic trading in the financial segment of the market, which accounted for half of the increase in total turnover over the past three years, is also seen as an important driver for rising volumes. Accelor, FXall's anonymous FX Electronic Communication Network (ECN), is at the vanguard of technology designed to meet the needs of the algorithmic trader, and was launched in 2007 to anticipate and respond to the evolution of this rapidly developing market.
Increasing focus on best execution and control and compliance has also been a factor in the growth in trading volumes over FXall as institutional FX traders, including asset managers, banks, broker-dealers, hedge funds and corporations embrace electronic trading as the execution method of choice. FXall is an industry leader in providing multiple methods to achieve best execution and a full audit trail for control and compliance and is constantly developing innovative products and services to meet the increasing demands of customers.
Phil Weisberg, Chief Executive Officer of FXall, said: "FXall holds a leading position in the institutional FX trading space and these figures reflect our commitment to innovation and investment throughout our range of products and services. FX trading is a constantly evolving landscape, and with volumes continuing to rise there has been a sustained increase in demand for online platforms that offer a complete electronic solution. We look forward to ongoing growth in 2008 as we continue to meet the demands of increasingly complex participants and strategies".
For more information contact info@fxall.com
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FXall to provide ITG clients with FX trading capabilities
FXall has announced a distribution agreement with Investment Technology Group (ITG), a leading provider of technology-based trading services and transaction research. This agreement will enable ITG clients to trade foreign exchange through FXall's comprehensive FX trading solution.
This agreement will provide fully integrated, award-winning FX services with industry-leading trading technology to offer enhanced connectivity to clients increasingly looking to invest in the rapidly growing FX market. FXall and ITG will co-operate to ensure that mutual clients receive the highest quality of service from the interface between the respective offerings. Initially, ITG will connect FXall's relationship-trading platform into its order management system, Macgregor XIP™ and execution management system, Triton®.
Phil Weisberg, Chief Executive Officer of FXall, commented: "We are delighted to have partnered with ITG. We are confident that we make a formidable team, offering cutting-edge trading solutions to clients in an increasingly complex market. FXall is committed to providing products that meet the diverse needs of market participants and our deep liquidity and advanced technology make us a natural choice for FX trading in today's market."
Bob Gasser, Chief Executive Officer of ITG, said: "ITG is committed to providing its clients with trading tools that help them navigate an increasingly complex marketplace. Multi-asset class trading is becoming increasingly important to our clients and this agreement with FXall allows us to provide them with access to the growing foreign exchange market."
For more information contact info@fxall.com
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An introduction to NDFs: New publication from FXall in conjunction with Standard Chartered Bank
FXall is pleased to announce that Standard Chartered Bank is now offering emerging market non-deliverable forwards (NDFs) through its multi-bank platform. In consultation with the trade body EMTA, 'An introduction to NDFs' booklet has been produced which outlines the history of NDFs and current issues in the market, such as standardization and automation.
The combination of FXall's foreign exchange trading technology and Standard CharteredŐs emerging market expertise marks a significant development in the automation of this growing market segment. NDFs now account for a significant proportion of trading in many emerging market currencies.
FXall has been at the forefront of the electronic trading of NDFs by supporting execution and trades processing, from agreeing the NDF fixing date through to confirmation. Liquidity providers can price trades using either their rate engines or FXall's manual pricing tool, Treasury Center.
The additional transparency and workflow offered provides rate capture and counter-fraud measures to give traders reassurance that their trading is straightforward and security is not compromised.
For your copy of 'An introduction to NDFs' please email info@fxall.com
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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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Upcoming FXall events
FXall will participate at the following industry conferences and events:
- Eurofinance, Antwerp Belgium 4-5 March
- TSAM - 6th Annual event , the Brewery, London 5 March
- Paul Sarbanes in Asia - Swissotel, Singapore 19th March
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AIB Global Treasury Services
AIB Global Treasury Services (AIBGTS) is delighted to announce it has joined FXall as Ireland's sole provider on the platform. AIB GTS is the customer arm of AIB Capital Markets and provides tailor-made international and cash management solutions for individual company needs. Recognised as Ireland's No. 1 treasury services provider, we look forward to enhancing this offering with deposit and foreign exchange pricing through the FXall platform. For further information, contact conor.h.o'neill@aib.ie
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JP Morgan
JPMorgan is a first class liquidity provider on FXall which continually develops its Foreign Exchange offering in line with the evolving needs of clients. We have further tightened pricing across spot, forwards and swaps and increased auto pricing limits for all currency pairs. In addition, JPMorgan is pleased to announce that we now support Accelor.
Experience JPMorgan's seamlessly integrated service and high-speed competitive pricing by requesting a quote now or speaking to your contact at FXall.
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Natixis
As a leading provider of foreign exchange and money markets in the eurozone, Natixis has extended its coverage on FXall, quoting Spot, Forward and Swaps in all major currencies on a 24 hour basis.
For more information please contact:
ebusinessteam@natixis.com
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Swedbank
Swedbank is one of the top-four Scandinavian banks and has local presence in the Baltic countries and Russia. We are pleased to announce that we are now auto-quoting FX spot, swaps and outright requests in FXall for majors, Scandinavian currencies and rubel. We invite all customers to test the improved functionality pricing. For further information, please contact FXall or speak to your contact at Swedbank.
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