Month: June 2001

AIG Hires Finigan as New President & CEO

American International Group (AIG) has named John Finigan as president and chief executive officer of AIG Trading Group. In this role, he will be responsible for the worldwide operations of AIG Trading and its subsidiaries, including AIG International. Finigan joins from Deutsche Bank where he was managing director and global head of IT and operations […]

Simmonds to Retire After 30 Years at Citi

Julian Simmonds, Citigroup’s global head of FX and Structured Products (FXSP) divsion, will retire from the business after 30 years with the bank. He will continue his close association with Citigroup through an extended period to ensure an orderly and seamless transition period. Simmonds was instrumental in building first, the bank’s foreign exchange and latterly, […]

Bank of America Adds to Global Trading Teams

Bank of America has made two hires to its global Rates Trading team, as well as bolstered its Global Markets team in Korea with five hires in Seoul. The Global Rates team hires include David Abbou as euro options trader, working alongside Rick Tse in London. Abbou has six years’ experience in derivative trading gained […]

Rolfe & Nolan Takes Equity Stake in Ecco

Derivatives technology supplier Rolfe & Nolan (R&N) has entered into a straight-through processing (STP) agreement with Ecco, a front end trading software provider. The deal will enable R&N to provide integrated solutions for front end order capture, risk management and exchange routing and access. Ecco’s pro-trader execution product, T-Ware, will be integrated into R&N’s application […]

Dresdner Takes Calypso for FX Processing

Dresdner Bank is to upgrade its FX processing platform with Calypso. The system will be installed in the bank’s Frankfurt office where it has already consolidated the settlement of its global FX business. The application will replace a number of host-based systems and will run ‘round the clock in Dresdner’s “Web farm” environment. Once Calypso […]

AFA Makes Musketeer & Dart Sales

Two banks – the Royal Bank of Scotland and the Industrial Bank of Kuwait (IBK) – have recently licensed AFA System’s Musketeer application for treasury and risk management. The IBK deal is valued at approximately $750,000. Under the terms of the contract, AFA Systems will receive a combination of an initial licence fee, implementation payments […]

Corporate Treasurers Say No to E-Trading

In a survey of delegates attending the 30 April – 2 May UK Treasurers’ Conference in Birmingham, 85% said they are not currently using the Internet for trading FX or any other asset class, while as many as 66.6% said they are not considering using multi-bank Web portals for FX trading. Additionally, 95% of those […]

Deutsche Joins SunGard Network As First eTX Sell Side Participant

SunGard has secured Deutsche Bank as its first eTreasury eXchange (eTX) sell side participant. The initiative aims to link SunGard Treasury Systems’ customers to their financial services providers for cash management and banking services in a range of financial products. Deutsche Bank will function as a liquidity provider to eTX, launched in November 2000, and […]

Citizens Bank of Canada Installs Treasury System

Citizens Bank of Canada has implemented Financial Software System’s (FSS) Spectrum Treasury System to manage FX and precious metals trading in its Vancouver and Calgary offices. “Spectrum’s straight-through processing capabilities allow us to serve our clients more efficiently, while Spectrum’s front office risk management tools allow us to better manage our foreign exchange and metals […]

Liffe Enjoys Record-Breaking April

The London International Financial Futures and Options Exchange (LIFFE) witnessed a 93% year on year increase in its total monthly underlying value, reaching £7,866 billion (?12,664 billion) during April. The average daily nominal value reached a record £414 billion (?667 billion). A total of 16,404,312 futures and options contracts traded during the month, representing an […]