Month: April 2000

Chase Outlines Year 2000 Initiatives

The Chase Manhattan Bank has outlined a series of initiatives that it believes will help to solidify its position as one of the world’s premier forex players. At the forefront of its strategy are plans to move its business towards an e-commerce environment, as well as to focus on a number of potential growth areas. […]

WestLB’s Appoints Percy To New CEO Role

Westdeutsche Landesbank (WestLB) has promoted Humphrey Percy from his position as head of global treasury to a newly created position as chief executive officer of a combined global treasury and global derivatives fixed income (GDFI) business. “The decision to integrate the two business areas is driven by WestLB’s strengths in the interest rate and currency […]

Three Brokers Install New Derivatives Pricing Product

GNI Ltd has upgraded to k.A.C.E. (Kalahari’s Advanced Calculation Environment) from the WinDiamond32 product, which they first installed last year. “There are three main reasons why we decided to make the change to k.A.C.E. Firstly, we are a hybrid products sales desk, trading in futures, swaps and bonds, and being able to see all of […]

CSFB/Tremont Index Up 6.5% in February

The CSFB/Tremont Hedge Fund Index is up 6.5% for February 2000, according to Robert Sloan, chief executive officer of Credit Suisse First Boston Tremont Index LLC. “The long/short equity managers clearly triumphed in February,” says Sloan. “Look at the numbers – the Dow was down -7.4%. No index performance comes close to the 11.1% return […]

Parker FX Index Shows Gains in January

Currency managers began the new millennium with positive performance, according to the Parker FX Index, which is up 1.15% for January, 2000. All 47 programmes in the index reported January results, with 29 programmes posting positive results and 18 ending the month with losses. On a risk-adjusted basis, the Index is up 0.82%. The median […]

Oberbank Goes Live With Internet Trading

Oberbank of Linz, Austria, has gone live with Cognotec’s AutoDeal LITE service, making it Austria’s first bank to offer Internet-based FX trading. Oberbank was able to offer its own branded, Internet-based, FX trading service to its clients within five months of its first contact with Cognotec, according to officials. “We expect our clients to enjoy […]

Daiwa Futures Selects Online FX System

Daiwa Futures, one of Japan’s largest futures commission merchants, has selected FNX’s Sierra System to provide an online FX, FX option, and international futures trading system. The move will allow the firm to deliver its trading service over the internet, supported by seamless STP for all traded products, including real time limit and margin checks. […]

HedgeWorld.com Launches ECN with Bermuda Stock Exchange

HedgeWorld Limited and the Bermuda Stock Exchange (BSX) announced the launch of The HedgeTrust Exchange (HTX), the first secure online trading facility for existing, non-US domiciled hedge funds available through a regulated exchange. HTX is exclusively available through HedgeWorld Limited’s companion Web site, www.hedgeworld.com. “HTX is a significant industry development because it provides liquidity for […]

Swedbank Goes Live With Web-Based FX Service

Swedbank, one of the largest banking groups in Scandinavia, has gone live with AutoDeal LITE, the Internet-based FX dealing service from Cognotec. The bank was able to automate its foreign exchange trading in just four days, say officials. Swedbank has implemented AutoDeal LITE to facilitate foreign exchange trading between Swedbank Markets and the bank’s domestic […]

CME Trading Volume Rises More than 19%

Trading volume on the Chicago Mercantile Exchange (CME) rose more than 19% in February, compared to a year ago. Volume in equity index products set a new all-time monthly record for the second consecutive month. Electronically traded volume on the CME’s GLOBEX2 system rose by 105%, totalling 2,183,862 for the month, while year-to-date volume of […]