| State Street buys online forex trading platform
State Street, one of the world's largest financial services groups, has stepped-up its efforts to attract more business from hedge funds and other active traders by buying Currenex, an online foreign exchange trading platform, for $564m in cash. Currenex provides electronic currency trading primarily for the rapidly growing $1,300bn hedge fund industry where State Street, which is primarily known for its money management and custody businesses, has been trying to boost its presence. "This acquisition diversifies State Street's trading customer base beyond traditional asset managers to include more active currency managers and hedge funds," said Joseph Hooley, vice-chairman. State Street, which has $1,700bn in assets under management and $11,900bn in assets under custody, said Currenex would augment its FX Connect foreign exchange trading platform, which last month topped $108bn of trading volume in one day.
Thomson Financial organic growth dented by disposal costs
(ASSODIGITALE.IT) Diluted earnings per share increased 22%, to $1.73, in 2006 and were up 61%, to $0.61 per share, in the fourth quarter. The company also said its Board of Directors approved an 11% annual dividend increase of $0.10 per share, to $0.98 per share. .
FOREX-Yen pulls back from 1-month high vs dollar
TOKYO, Feb 7 (Reuters) - The yen pulled back from a one-month high against the dollar on Wednesday as traders took a break from yen short covering to wait and see if the weekend meeting of the Group of Seven industrialised nations will discuss yen weakness. European officials have expressed concerns about the yen's weakness and have said the issue would be brought up at the G7 meeting in Essen, Germany, on Feb. 9-10, but U.S. and Japanese officials have continued to play down the issue. A senior official at Japan's Finance Ministry said on Wednesday that the yen could be discussed at the G7 but that it was unlikely to be the main subject of the talks. That followed U.S. Treasury Secretary Henry Paulson saying on Tuesday that the yen's value was set by market fundamentals, suggesting Washington does not have a problem with a weak yen.
IMM specs trim bets against yen, Swiss franc-CFTC
(Note to clients: Beginning Friday, Feb. 16, Reuters coverage of the weekly Commodity Futures Trading Commission data on market positioning in currency futures will be in tabular form only. For market views on the data, go to ) By Steven C. Johnson NEW YORK, Feb 9 (Reuters) - Speculators trimmed bets against the yen and Swiss franc in the week to Feb. 6 and built up record positions in favor of the British pound, data from the Commodity Futures Trading Commission showed on Friday. Investors cut their net short yen position to 128,526 contracts, down from a record 173,005 contracts in the prior week, the data for the week ended Feb. 6 showed. The total value of the position eased to about $13.4 billion from more than $17 billion the prior week, according to Reuters calculations.
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