Month: September 2000

CME Reports YTD Volume Rise of 13%

Year-to-date trading volume rose 13% during July, reports the Chicago Mercantile Exchange (CME), with 135.7 million contracts changing hands. Total volume reached 15.5 million contracts. Globex2 volumes rose by 110% year-to-date, totalling 17,226,616 contracts. During July alone, volume rose by 87% year-on-year, to total 2,421,030 contracts. Equity index products had a record month with 3.7 […]

Cognotec Name Extended To Forexbank Venture

Forexbank, the joint venture formed between Dublin-based Cognotec and Softbank Finance Corp of Japan, has officially changed its name to Cognotec Japan KK. The venture will continue to distribute Cognotec’s Internet-based FX/MM trading products, including AutoDeal Lite and AutoDeal Direct to financial institutions in Japan and Korea. Softbank, which is the largest investor in Yahoo! […]

CSFB to Pay Into Creditex

Credit Suisse First Boston (CSFB) has made a multi-year strategic alliance that will involve it making a cash contribution into Creditex, the online credit derivatives trading system. CSFB has also committed to add liquidity to the Creditex trading platform. In addition, the alliance provides for collaboration on developing technology that will benefit both Creditex and […]

State Street’s Multi-bank Initiative Attracts More Partners

State Street, which opened its electronic trading system, FX Connect, to multiple counterparties in May, now has a total of nine banks online. Deutsche Bank was the first partner in the multibank initiative, which has now been extended to include ABN Amro Bank and Societe Generale, among others. According to Stephen Smit, managing director, Global […]

Summer Doldrums Aren’t Like They Used to Be

A few London-based recruiters say this summer has been their busiest on record ‘ a far cry from the usual summer doldrums. Not only has the summer been unusually busy, but hiring has been more consistent throughout the year, says Neil Price, senior consultant at Michael Williams Associates. “We are not seeing the usual seasonal […]

Japanese Bank Offers FX Online

The recently formed Dai-Ichi Kangyo Fuji Trust & Banking (DKFTB) began offering customers in Japan, an online FX service via Cognotec’s AutoDeal Lite service from late August. Officials say DKFTB is the first Japanese trust bank to offer an automated Internet-based FX service to asset and fund manger clients. DKFTB will initially offer spot, outright […]

Electronic Trading and Internet Use by Foreign Exchange Professionals

A report by Greenwich Associates In Greenwich Associates’ recently released FX e-commerce report, “Electronic Trading and Internet Use by Foreign Exchange Professionals”, the banking consultancy found that total demand for electronic trading is expected to grow to at least 55% in the near future. “Furthermore, in terms of volume, online traders expect to almost double […]

Portals: Distribution in an Electronic Age

With as many as seven multi-contributor platforms having been announced since the beginning of the year, market participants are aligning themselves behind one, two or all of the FX trading hubs currently being developed. Julie Ros looks at which models will succeed in attracting enough liquidity to outstrip the competitors and what it means for […]

Q & A With Campbell & Company

Company Name: Campbell & Company, Inc. Address: 210 West Pennsylvania Avenue   Suite 770   Towson, Maryland 21204 Contact Name: Bruce Cleland, President/CEO Phone Number: 800-698-7235 Direct 410-296-3301 Fax Number: 410-296-3311 E-Mail: Bruce@campbell.com Product Name: Individually Managed Account Product Assets: Foreign Exchange Portfolio Total Assets Under Management: $2 billion as of June 30, 2000 Firm […]

Julius Baer Reverts London FX to Zurich

Bank Julius Baer has converted its London office from a full banking branch to a subsidiary focusing on asset management. As part of the move, the bank will no longer have a treasury function in London, says Mark Linnan, deputy global head of FX. Linnan says the bank had a small FX operation in London, […]