Month: December 2000

SwapsWire Adds 14 Dealers

SwapsWire, an electronic trading infrastructure for interest rate derivatives, has added 14 more derivatives houses to it list, bringing the total number of dealers to 24. The initiative has yet to launch – tests are expected among the founding institutions in the first quarter of 2001 – but Andrew Brown, CEO, hopes that the inclusion […]

IFS Acquires Online FX Platform

Dublin-based International Financial Systems (IFS), has acquired Dene International for $21 million. Dene is an Internet-based FX trading systems developer. Dene’s flagship product, Gate (Global Automated Trading Engine), is an automated FX trading applications, which is currently being used by Barclays, Bank of America, Chase Manhattan, RBS/NatWest and Allied Irish Banks. “Dene’s Gate technology will […]

How Much are You Worth?

The trend towards sales and structuring looks set to continue in 2001, as the recent proliferation of electronic trading systems has meant that banks must differentiate themselves not by price, but by quality of service. Julie Ros talks to the market’s recruiters to find out what qualifications the FX industry is looking for in the […]

Q&A With CRT Currency Exchange

Company Information Company Name: CRT Currency Exchange Ltd. Address: Toronto, Canada Contact Name: George V. Marcus Phone Number: (416) 364-7188 Fax Number: (416) 364-7177 E-Mail: crtdirect@home.com Product Name: Currency Resilience Trading (CRT) Total Assets Under Management: $12,000,000.00 USD Firm Inception Date: 1990 in Europe & 1994 in North America Number of Employees: 4   Return […]

CME Becomes First For Profit US Exchange

Last month, the Chicago Mercantile Exchange (CME) received a favourable ruling from the US Internal Revenue Service (IRS), clearing the way for it to be reborn as a demutualised, for profit, corporation. The IRS involvement was centred on the question of whether the CME could transform its membership into tax-free shares, and its successful conclusion […]

JP Morgan Chase Announce Next Management Level

JP Morgan Chase & Co. has named its next level of business managers, following the earlier announcement of Chase’s Don Wilson and JP Morgan’s Bill Winters as joint heads for Credit & Rate Markets. A spokesperson says the bank is “hoping and working towards” the end of the year to finalise the merger, pending regulatory […]

Cargill Takes New Trading System

Cargill Investor Services (CIS), broker for exchange traded futures, options and OTC products, has taken FNX’s Sierra System for its global OTC trading and back office operations. CIS will use the FX cash, options, commodities and general ledger modules for seamless front, middle and back office functionality. The installation will include Sierra System’s real time […]

Chase GIS Selected by Virginia Treasury Department

The Global Investor Services (GIS) division of Chase Manhattan Bank was selected by the Commonwealth of Virginia Treasury Department (CVTD) as custodian of its $6.5 billion in assets. Chase will provide the CVTD with custody; accounting valuation; securities lending; performance measurement; compliance; Internet technology through Chase Workspace; and account record keeping from 1 December, 2000. […]

GNI Live with OST Business Rules

GNI has gone live with OST Business Rules at its London head office, allowing 200,000 accounting entries per day. The new system will run in tandem with the old for two months, in order to allow for a smooth transition. This implementation has enabled GNI to integrate its back office financial and reporting systems with […]

Globex2 Volume Soars in October

Trading volumes on the Chicago Mercantile Exchange’s Globex2 the after-hours electronic trading system soared in October, with 4,050,332 contracts traded during the month, a 128% year-on-year increase. Meanwhile, total trading volumes on the Merc rose 23% above last October’s levels. Year to date volume on the CME has risen 10.5%, while Globex2 volume rose by […]