Industry Updates: City Index, FXAll, Getco

Industry Updates: City Index, FXAll, Getco

City Index live with Algorithmics Algo Risk Service

Algorithmics, the leading provider of risk solutions, announced that City Index, a global leader in spread betting, contracts for difference (CFDs) and margined foreign exchange, has gone live with Algorithmics’ Algo Risk Service for intra-day risk exposure tracking.

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City Index is a leading provider of contracts for difference (CFD), forex and, in the UK, spread betting. As Algorithmics’ first client in the retail trading sector, City Index will use Algo Risk Service, a hosted risk management, portfolio analytics and decision support tool, to provide a holistic view of risk across the thousands of individual markets in which both City Index and its clients are active.

FXall lets clients trade China CNH spot, forwards and swaps

FXall, the world’s leading electronic foreign exchange platform, announced that it is extending trading of deliverable offshore Chinese Yuan (CNH) on its FX trading platform through its award-winning QuickTrade Request For Quote (RFQ) product.

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In response to client demand, many of FXall’s liquidity providers are now pricing yuan over-the-counter (OTC) trades. This offering was a collaborative effort with providers such as BofA Merrill Lynch, HSBC and Royal Bank of Canada, to support recent market developments. With FXall and liquidity providers on the platform supporting the new currency code, CNH, which represents the RMB exchange rate that trades offshore in Hong Kong, FXall clients are now able to trade this important currency offshore.

Getco in deal for U.K. forex, derivatives trader

Market-making firm Getco LLC secured an agreement to acquire Automat, a London-based trading house specialized in currency and derivatives markets, the companies said.

The deal extends the reach of Getco, among the world’s most active electronic trading firms, further into markets that rivals have targeted as stock-trade becomes increasingly saturated with high-frequency strategies.

Terms of the deal weren’t made public.

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