Month: December 2004

Reuters To Acquire Telerate

The much rumoured and long expected deal for Reuters to acquire Moneyline Telerate, is finally going through, the companies confirm. The consideration, subject to completion adjustments, is made up of $100 million (52 M) in cash and Reuters 14% holding in Savvis Communications Corporation, which is currently convertible into approximately 75 million shares of Savvis […]

FXConnect Tops $30 Billion in Daily Volume

State Street Global Markets, the investment research and trading arm of State Street Corporation, says that its FXConnect multibank electronic foreign exchange trading system has surpassed $30 billion in daily trading volume for the first time. FXConnect is available via State Street’s Global Link network. “While FX trading volume is subject to marked variability depending […]

Refco Releases FX ProTrader

Refco Group has released Refco FX ProTrader, an enhanced version of its electronic FX trading platform. Among its features, the platform offers real-time executable streaming prices for spot, outrights and forwards, with the ability to view up to 16 currencies simultaneously. “Our next generation trading model is a customer-driven virtual marketplace,” says Sandy Maggio, president […]

CME and Reuters Start Beta Testing Today

Beta testing of CME FX on Reuters is due to start today, on schedule for the planned Q1 launch, says Bryan Hunter, director FX products at the Chicago Mercantile Exchange (CME). The seven clearing firms participating in the testing phase and initial launch are: ABN Amro, Bank of America, Barclays Capital, HSBC, Royal Bank of […]

Save 75% by Subscribing to Squawkbox Today

Prices are Going Up in 2005 Subscribe to Squawkbox before December 31 and you will receive a full year’s worth of news for just 25 ($55; 45). The annual subscription rate for Squawkbox is rising to 99 ($195; 145) from January 1, 2005, so take advantage of our low rates by contacting jennifer@profit-loss.com (+44 (0) […]

CLS Bank Settles Record $3.7 Trillion

CLS Bank International set a record on December 15 for the value of payment instructions settled in a single day. CLS Bank settled 197,592 payment instructions with a gross value of $3.684 trillion. This new high is the first time that the value of payment instructions settled has exceeded $3 trillion in a day, and […]

CME Names IR Products Head

The Chicago Mercantile Exchange (CME) has appointed Robin Ross as managing director, interest rate products. Ross will begin on January 3 and report to Rick Redding, managing director, products and services. Ross joins CME from Cantor Fitzgerald & Company where, since 2003, she has served as managing director, Chicago futures division, responsible for building the […]

Banque AIG Joins EBS Prime

Banque AIG, a member of the AIG Financial Products group of companies, is the latest to join as an EBS Prime Bank, and is one of the first banks to do so that will focus solely on the professional trading community. Banque AIG is participating extensively in the forthcoming research and development project for extending […]

AIMA Requests Exemption from FSA Requirements

The Alternative Investment Management Association (AIMA), has made a further submission to the UK’s Financial Services Authority (FSA) concerning Soft Commission and Bundled Brokerage Arrangements. AIMA has said that hedge fund managers should be distinguished and exempted from a UK regime requiring improved disclosure of commission arrangements to fund customers. The industry model under development […]

Squawkbox Returns in 2005

Following today’s edition of Squawkbox, we will take a two-week hiatus. We at P&L would like to thank everyone for their continued support, and wish you all the very best for the holidays and a very Happy New Year.