Automated Trader Landsbanki RSS feed results

Landsbanki Kepler Opts For GL TRADE And Its MiFID Solutions

November 26th 2007 - GL TRADE and its MiFID offering have been chosen by Landsbanki Kepler. GL TRADE supplies Landsbanki Kepler with the functions for compliance with the directive but also enables it to benefit from opportunities brought about by market fragmentation: real-time market data aggregation, smart order routing (execution optimization and automation) and execution audit and benchmarks.

Landsbanki Kepler brings substantial price improvements to its clients with GL TRADE Smart Order Routing

July 2nd, 2008: Landsbanki Kepler, a European investment bank operating in seven countries, has been working closely with GL TRADE, global provider of multi-asset trading software solutions for international financial institutions, to implement the bank’s strategy for trading in the post-MiFID European equity market environment.

GL TRADE Announces Partnership With NYFIX To Provide Direct Access To Euro Millennium

September 10th, 2008 - GL TRADE to Provide Direct Access to Euro Millennium Through Partnership With NYFIX

FX Update: Yen Gains Amid Turmoil

JPY buying accelerated amid more banking sector fears. There was speculation of potential UK government funding in UK banks, while Iceland's Landsbanki went in to receivership and Italy's Unicredit came under more heavy selling amid speculation of balance sheet problems. Meanwhile, Deutsche Bank also fell 10% on talk of capital increase, but this was dismissed as nonsense by a financial source. The turmoil in the market saw USD/JPY fall from 103.00 down to 101.48, while EUR/JPY retreated to 137.27 lows and GBP/JPY moved back in to 176.50 from levels above 180.00. JPY should remain supported in the near-term, with flight to quality trading and general unwinding of long standing carry trades expected to support. Japanese officials will not be happy over protracted JPY gains, but appear to accept that the market is going through a broad based restructuring of long-term risk/leverage.

Fixed Income: Treasuries Dip in Nervy Conditions

Treasuries are opening lower after a choppy overnight trade. A rebound in equities after a bigger than expected 100 bp cut by the RBA and ongoing hopes for action by the G7 has taken some of the bullish momentum out of bonds. However, the markets remain very jittery and distrusting. Overnight Libor rates spiked higher; there were reports that U.K. banks asked the Chancellor for capital, while Iceland's second largest bank, Landsbanki, was nationalised and the Icelandic krona was pegged to the euro. And there are expectations for more liquidity actions from the Fed and Treasury, perhaps including purchasing commercial paper. Chairman Bernanke's speech to the NABE highlights today's session. Also of interest will be the FOMC minutes to the September 16 policy meeting. The Fed's Stern will speak on financial shocks. Data includes the weekly chain store sales and August consumer credit.

UK Treasury Puts Kaupthing UK into Administration

The UK Treasury has put Kaupthing Singer & Friedlander (KSF), a UKÂ division of Icelandic bank Kaupthing, into administration and transferred its deposit business to Dutch bank ING. The Treasury earlier transferred the deposit business of Heritable Bank, a division of Iceland's Landsbanki,Â to ING, and put the remainder of the bank into administration. Â

City AM's Morning Newspaper Round-Up

Pressure was mounting on Sir Fred Goodwin to resign as chief executive of Royal Bank of Scotland (RBS) last night as the bank prepares to tap the Government's Â£500 billion rescue fund. The Government is thought to be reluctant to consent to RBS's participation in the bailout unless the chief executive relinquishes his role, says the Times. Asian central banks on Thursday joined their western counterparts in coordinated cuts to interest rates in an effort to curb the risk of the credit crisis sparking a severe global recession. Six of the world's most important central banks, including the Federal Reserve, the European Central Bank and the Bank of England, on Wednesday announced unprecedented simultaneous emergency interest rate cuts of half a percentage point, writes the FT. One of Britain's biggest lenders withdrew some of its most popular mortgage deals last night after the Bank of England cut its base rate, reports the Times. Anti-terrorism powers were used on Wednesday to recoup money owed to UK depositors in a failed Icelandic bank in a move that risked sending Britain's relations with Reykjavik to their lowest since the 1970s "cod wars". UK taxpayers are likely to pay out at least Â£2.4bn as part of a Â£4.6bn scheme to compensate hundreds of thousands of account holders at Landsbanki, the Icelandic lender, according to Whitehall sources, says the FT. Dozens of local authorities are facing the prospect of losing hundreds of millions of pounds after it was revealed that many had sizeable deposits with the failed Icelandic banks Landsbanki and Kaupthing, according to the Independent. The Telegraph adds that hundreds of British jobs are under threat after the Kaupthing, Singer and Friedlander, the UK division of Iceland's largest bank, was put into administration. Icelandic Prime Minister Geir Haarde last night refused to rule out the seizure of Kaupthing, saying it was "unlikely" but possible. This would put almost the entire Icelandic banking system under state control. The City watchdog has insisted on vetting new bank directors, amid concerns that a lack of expertise in boardrooms contributed to the financial crisis. The Financial Services Authority (FSA) recently abandoned its rubber-stamping approach and insisted on face-to-face interviews with all new bank directors, the Times has learnt. Amid the chaos that was sweeping across global markets on Wednesday, the UK's largest retail banks won an elusive sliver of good news in their long-running legal battle over overdraft charges. The High Court backed most lenders' arguments that fees levied over the past several years when customers exceeded their agreed account limits or bounced a cheque could not be classified as unlawful "penalty" charges, according to the FT. Gordon Brown and Alistair Darling will begin an international drive today to persuade other countries to implement a British-style rescue package for their banks, writes the Independent. The Federal Reserve is preparing to lend American International Group a further $37.8 billion just three weeks after the ailing insurance giant received an $85 billion US government loan to prevent it going bankrupt, reports the Times.

Iceland Takes Hold of Kaupthing; Top 3 Banks Now Nationalised

Iceland's government said it has taken control of Kaupthing, the country's biggest bank. All domestic deposits are guaranteed. Iceland's top three bank are now all effectively in public hands. The number-two, Landsbanki, was nationalised earlier in the week and the state recently took a 75% stake in Glitnir, the third-biggest bank. Â