Month: August 1999

A World Without Spot Brokers?

Spot brokers, as we know them, are an endangered species – but what would the world be like without them? Julie Ros looks at the future for voice brokers as they face a world moving to e-commerce. Electronic brokers now account for an estimated 78 per cent of the brokered spot market in London, the […]

Tibco Debuts TIBMercury FX Multi-Branch Capability

Tibco’s electronic FX trading and order routing platform, TIBMercury FX, has been upgraded with a new multi-branch capability which enables corporate customers to interact with more than one branch of their financial institution. Previously, TIBMercury worked on a many (customers) to one (branch) capability, but now it allows a ‘many-to-many’ configuration, officials say. ‘Since we […]

Euribor ACI Establishes Four Working Groups

The ACI’s Euribor group, which participates in the Euribor Committee, a joint venture with the 11 ‘in’ countries of EMU, as well as associate members of the EU countries that have not yet joined, met in July alongside the Forex 99 event in Milan. At the meeting, the ACI group started four working groups: money […]

Hungarian Forex Publishes OTC Derivatives Documentation

The Hungarian Forex Association (HFA) has published the 1999 Hungarian Forex Association Definitions, to provide a common set of terms to use in preparing confirmations for privately negotiated derivatives transactions involving the Hungarian Forint and other Hungarian underlying cash markets.  The HFA has also released the 1999 Hungarian Forex Association Supplement to the 1992 ISDA […]

Reuters Launches FX Orderwatch

At Forex 99 in Milan last month, Reuters launched its FX Orderwatch product, which enables corporate sales dealers to monitor orders and make immediate changes. The electronic order handling service includes a full audit trail facility. The system is now installed at eight client sites in 12 countries and will be rolled out globally throughout […]

CME Starts Dual Trading in E$

The Chicago Mercantile Exchange last month started side-by-side trading of its flagship Eurodollar contract over the Globex2 electronic trading system. The Merc’s Eurodollar contract is one of the world’s most actively traded futures contracts, and accounts for more than half of the exchange’s total futures volume. ’The introduction of side-by-side Eurodollar trading (on July 6) […]

American Express Group Takes Stake in Softbank/Cognotec Venture

American Express Travel Related Services has taken a minority stake in Forexbank, and will lend its marketing expertise to the new venture. Forexbank was recently set up by Japanese software house, Softbank, and Dublin-based Cognotec, to jointly market Cognotec’s Internet-based FX and money market trading platform, AutoDeal LITE, to customers in Japan and Korea. Softbank, […]

ACI Announces Nominees To Strategic Planning Group

  Eight ACI members have been nominated to ACI’s new Strategic Planning Group, which was formed in April under ACI vice president Mike Eastaway. In addition to Eastaway, ACI’s managing director Bill Hahn; Karl Berger of Canada; Shadi Hanna of Lebanon; Chris Howlett of Singapore; José Manuel Galey of Spain; Jan Trädgardh of Sweden; and […]

Generale & MeesPierson Now Trade as Fortis Bank

As of June 24, the FX, money market and derivative activities of the former Generale Bank Nederland was incorporated into the treasury of MeesPierson in Amsterdam, and both groups now trade under the Fortis Bank Nederland name. <?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />

Dresdner Releases New Internet FX Trading System

As part of its new e-commerce suite of online products, Dresdner Kleinwort Benson (DrKB) has released PIRANHA, an FX dealing system that enables customers to trade FX spot, forwards and swaps over the Internet. PIRANHA is connected directly to DrKB’s real-time price feed, and trades can be tracked using the system’s real-time position blotter. ’We […]