Month: May 2000

The Ebb & Flow of Liquidity: What Is It…Where Is It…and Who Controls It?

In the FX market of today, liquidity depends on the currency pair, volatility, a bank’s position in the market, as well as its customers. Without liquidity, all the high priced traders and state-of-the-art dealing systems in the world won’t help you unload a position. Julie Ros looks at current market conditions and how the major […]

Q & A With Dynex Corporation

Company Name: Dynex Corporation Address: Opal Asset Management,   Villa Pax, Monaco Contact Name: Peter Panholzer Phone Number: +377 93 30 57 96 Fax Number: +377 93 25 44 13 E-Mail: pp@dynexcorp.com Product Name: Dynex Currency Strategy Product Assets: US$25m Total Assets Under Management: US$25m Firm Inception Date: 1994 Number of Employees: 4 Return Information […]

BNP Paribas Merger on Schedule

The integration of Banque Nationale de Paris (BNP) and Paribas is on target as the two banks draw near to their official merger date, 23 May, says Loic Meinnel, co-head of global FX for the planned BNP Paribas. Meinnel says the two institutions have begun to merge location by location, although they must continue operating […]

CME Announces New Senior Management Structure

The Chicago Mercantile Exchange (CME) has reorganised its senior management structure to prepare the exchange for becoming a public company and position itself for entering new arenas, says Jim McNulty, president and chief executive officer. The new senior management team will consist of nine managing directors, all reporting to McNulty, who are responsible for overseeing […]

GAIN Capital Due for May Launch

GAIN Capital, the new online currency market maker aimed at hedge funds, mid-sized trading firms and private investors, began demo trading on 31 March and plans to begin live trading this month (May). GAIN has also made additional hires for its FX trading team, which is based in Warren, New Jersey. Each of the four […]

UBS Warburg Launches “Currency Certificates”

UBS Warburg has launched a new FX product, UBS Currency Certificates, that are designed to help private investors hedge their portfolios against currency fluctuations, or for those looking to speculate on market movements. Execution can take place electronically via UBS Telebanking and UBS Tradepac, or by telephone and traditional dealing systems. “We have launched this […]

Bank of America Hires Brown To Head Global Proprietary Unit

Bank of America is setting up a new FX proprietary trading unit under Mark Brown, who joined the group on 20 March from HSBC, confirms Richard Breslow, global head of FX trading in New York. The bank currently has about seven proprietary traders between its New York, London and Hong Kong offices, but Breslow explains […]

Tremont Advisers Enter Agreement with Lockwood

Rye, New York-based Tremont Advisers has entered into an agreement with Lockwood Financial Services to provide alternative investment products. Lockwood, a Malvern, Pennsylvania-based firm that specialises in providing individually managed account tools and services to independent financial advisors, will offer access to Tremont’s new American Masters Series of funds. According to Cerulli Associates, Lockwood is […]

CME Enjoys Busiest First Quarter Ever

The Chicago Mercantile Exchange (CME) enjoyed its busiest first quarter ever, with continued growth in equity index products leading the way and numerous individual products in all categories also setting records in March. Exchange-wide volume for the first three months of 2000 totalled 59,312,855, besting the prior first quarter volume record set in 1995 by […]

MFA Chairman Criticises Hedge Fund Disclosure Act

George Crapple, chairman of the Managed Funds Association (MFA), last month testified before the Committee on Banking and Financial Services, House of Representatives, about H.R. 2924, the Hedge Fund Disclosure Act. “We believe that H.R. 2924 does not represent a way forward toward preventing future LTCMs, but rather is a costly form of bureaucratic window-dressing […]