Month: July 2002

BIS Paper a Timely Reminder for Japan?

A recent BIS paper has provided the most in-depth look to date at the effectiveness of central bank intervention, and the tactics used by central banks, individually and collectively. At a time when Japan continues to battle against what it terms the “undesirable” strength of the yen, Colin Lambert takes a look at the paper, […]

EMU from a Nordic Perspective

By Jes Asmussen, Senior Analyst, Denmark, Jorgen Appelgren, Chief Analyst, Sweden, and Steinar Juel, Chief Economist, Norway Nordea Markets The four Nordic countries have taken separate roads towards the European Union. Denmark has been a member of the EU since 1973, but has so far chosen not to join EMU, most recently at the September […]

ABN Amro and CCB Implement Mint and Quantum

ABN Amro Futures and Co-operative Central Bank of Cyprus (CCB) have each implemented SunGard Business Integration’s Mint and SunGard Treasury System’s Quantum, respectively. ABN Amro Futures has implemented the Mint system to automate cross operational end-to-end trade processing. The implementation augments the SunGard GMI suite which is already in place at ABN Amro Futures to […]

Two Implementations, Support Deal for Trema

Financial software provider Trema Group is to have the Trema Finance Kit implemented at two new clients, the European Investment Bank (EIB) and Discovery Capital Management, and has also teamed up with technology conglomerate HP for software, hardware, architecture, back up and contingency support. The EIB is to use Finance Kit to manage all its […]

Cognotec Looks to Widen Geographical, Product Spread

Cognotec has been boosted by a strategic investment of $14.5 million from both FinVentures, the private equity arm of Standard Chartered Bank, which is providing two-thirds, and the balance from existing investors. As a result of the transaction, FinVentures will become a minority shareholder and join Cognotec’s board. The cash injection follows similar deals in […]

Moneyline Telerate: A New Start

More than six months after its formation, Moneyline Telerate, the company that resulted from Moneyline’s acquisition of Bridge Information Systems’ subsidiary Telerate, is now in the process of releasing its new suite of products for the financial services community. The company has unveiled three new products that are intended to support the full range of […]

Icor Goes Live in Europe

Six months after launching in Asia, (see Profit & Loss, March 2002) Icor Brokerage, the online FX options brokerage service that is a 50-50 joint venture with Reuters, has commenced operations in Europe. The system went live at the start of July with 15 banks. Jeff Larsen, CEO of Icor, says that another nine banks […]

FXpress IntroducesCommodities Module

Electronic foreign exchange trading system FXpress has released a sixth iteration of its Foreign Exchange by FXpress product, introduced Commodities by FXpress, a commodities exposure management module, and added straight-through processing (STP) capabilities with Currenex and FXall. The system now has around 70 clients trading on it, mainly US corporates, such as Black & Decker, […]

CLS Service Offered to German Landesbanks

Westdeutsche Landesbank Girozentrale (WestLB) has subscribed to Citibank’s CLS Settlement Services, provided by the latter’s unit, Citibank e-Business, for foreign exchange settlement. Citibank says that the service is the first dedicated mechanism that enables financial institutions to utilise its infrastructure to settle their FX transactions on a payment versus. payment basis. As a result of […]

CLS Conducts Live Tests, Launches Vendor Programme

After several false dawns, (and amidst huge sighs of relief from the financial community) the Continuous Linked Settlement (CLS) system has taken possibly its largest step yet towards existence. CLS Bank has completed the first stage of end-to-end live trials, something it terms, “a significant milestone” in preparations to offer the service. Another indication of […]