Month: October 2000

Meff Becomes Sixth Member of Globex

Spain’s MEFF (the Spanish Futures and Options Exchange) became the sixth official member of the Globex Alliance on 6 September. MEFF joins existing partners: the Chicago Mercantile Exchange, ParisBourse SA, the Singapore Exchange (SGX), Brazil’s Bolsa Mercadorias & Futuros (BM&F) and the Montreal Exchange. “The addition of MEFF enables the Alliance to further expand on […]

FEA Receives Patent on VAR Technologies

Financial Engineering Associates (FEA) has received a second US patent on its value at risk (VAR) technologies. The newest FEA technology was termed the “Watershed Method”. The importance of the invention is that it will allow market risk to be more accurately allocated to accounting periods, say officials. Tracie Rowson, executive vice president of FEA, […]

FMS Acquires Kinvara

Financial services software developer, Financial Markets Solutions (FMS) has entered into a reverse-take-over of Kinvara Ventures. FMS, which was set up a year ago, developed an Internet-based FX dealing platform designed to provide institutions with a single, low-cost FX transaction platform that customers can access directly through the institution’s Web site. The central component of […]

CME Lists Monthly Peso Expirations

On 1 October, the Chicago Mercantile Exchange (CME) began listing monthly expirations for Mexican peso futures and options contracts. The CME will list 13 consecutive calendar month expirations for the physically delivered Mexican peso futures contract, plus the two deferred March quarterly contract months. For peso options, nine calendar months will be listed for trading. […]

Volbroker Extends Reach to Asia

Volbroker.com, the online marketplace for currency options that launched in London in August, was due to be extended to users in Singapore, Hong Kong and Tokyo last month. The service currently has 20 banks operating in a live trading environment in London, and is shortly due to add a couple of Continental banks to the […]

SEB Installs System for Collateralised Trading

Sweden’s Skandinaviska Enskilda Banken AB (SEB), one of the largest European banking and asset management groups, has taken International Financial System’s MarginMan for its global collateralised trading operations, which will complement the 24-hour trading at its London dealing centre. The bank also plans to soon roll out MarginMan to its New York, Stockholm and Singapore […]

NAB Makes Headway with E-Commerce Ventures

National Australia Bank has signed a global license agreement for Financial Software Systems’ Spectrum Treasury System. Spectrum will be rolled out to the bank’s offices in Melbourne, Sydney, Auckland, Wellington, London and Glasgow. The bank already uses Spectrum in its New York, Hong Kong, Singapore and Tokyo offices. Spectrum’s “turn-key” architecture and risk management capabilities […]

Citibank Launches FX Prime Brokerage Business

Citibank set-up an FX prime brokerage service earlier this year, and is now due to go live with its first customer in North America later this quarter. New York-based Len Campbell is heading the desk, which will be built up during Q1 of next year.

Currenex Receives $16 Million Cash Injection

Online currency exchange, Currenex, has received $16 million in venture capital funding in the first closing of its second round financing led by Amerindo Investment Advisors, a leading technology investment firm. Also investing in this round are Barclays Capital, TH Lee.Putnam Internet Partners and WR Hambrecht & Co. Barclays Capital joined the Currenex network in […]

State Street Launches “Quick-FX”

State Street has launched a new electronic FX trading feature, called Quick-FX, which complements its existing FX Connect service, the bank’s multi-bank electronic FX trading system designed for institutional investors. Quick-FX is targeted at mid-sized corporates and hedge fund managers that require a high-speed transaction capability for single, large spot or forward trades with multiple […]