The Path to Profit The CME Sets Out on the Road to Demutualisation

Following last month’s overwhelming approval by members to demutualise the 102-year-old Chicago Mercantile Exchange (CME), the exchange is now preparing for its new for-profit approach, which will streamline governance and convert its memberships into shares with trading rights in CME products and pure equity in the exchange.  A week after the 6 June vote, which […]
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CAI Expands Global Forex & Treasury

Credit Agricole Indosuez (CAI) has made a number of hires in recent weeks, as well as promoted several senior managers to take the business forward, reports Bassem Snaije, co-head of Global Forex & Treasury (GFT). Snaije, who splits his time between London and Paris, jointly heads the GFT business with Paris-based Thomas Gadenne. Both Snaije […]
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Deutsche Promotes Senior Managers

Deutsche Bank has promoted a number of senior managers within its Global Markets and Global Equities teams following the appointments of Edson Mitchell and Michael Philipp, previously the respective heads of Global Markets and Global Equities, to the group’s Board of Managing Directors. Under the new structure, both the Global Markets and Global Equities units […]
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RBS Makes Further Post-Merger Appointments

The Royal Bank of Scotland has made further appointments to its Financial Markets division. Stephan Harris, RBS’s deputy treasurer in London, has appointed Howard Kurz as head of RBS Financial Markets North America, responsible for trading, sales and other financial markets activities in the region. Reporting to him will be Pablo Eizayaga, who will have […]
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Bank of America Expands Sales, Research & Trading

Since January, Bank of America (BofA) has been undergoing a build-up of its global FX sales, research and trading groups, reports Chris Mandell, global head of FX sales. One of the reasons for the more aggressive hiring profile, says Mandell, is the relaunch of its e-dealing product, FXO2, which has enabled the bank to shift […]
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Q & A With John W. Henry & Company Inc. (JWH)

Company Name: John W. Henry & Company, Inc. (JWH) Address: Westport, CT Boca Raton, FL Contact Name: Verne O. Sedlacek Phone Number: 203.221.0431 Fax Number: 203.221.1489 E-Mail: verne_sedlacek@jwhmail.com Product Name: International Foreign Exchange Program G-7 Currency Portfolio Product Assets: As of May 31, 2000: International Foreign Exchange Program: $77mG-7 Total Assets Under Management: As of […]
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Dealing with the Rich

 By Catherine Tillotson, Scorpio Partnership The market yo-yo of recent months has had many intriguing features, but amongst the most prevalent is the level to which individual private investors have become a driving force in the FX industry. During its April slide, the Nasdaq fell 37% from top to bottom, largely based on private investor […]
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Is the UK Economy Converging with Euroland?

 By Michael Burke, B&M Research In recent weeks, both the OECD and the ECB have actively joined the debate on Britain’s adoption of the euro, arguing that the UK economy has converged significantly with the economies of Euroland. If that is the case, then there are major implications for the UK economy in the period […]
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Asia Recovery Set to Continue

Excerpted from the April 2000 Prebon Yamane Asian Sentiment Survey Sentiment in Asia remains upbeat, according to Prebon Yamane’s seventh Asian Sentiment Survey, as confidence in the Asian recovery finds a firm platform despite Nasdaq’s recent troubles. Although interest rates have clearly bottomed out and are expected to move higher, in line with global rates, […]
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Top 10 Widen the Gap with 66% Marketshare for 1999

After tallying the results of the 1999 FX trading revenues reported by 35 of the top international FX trading banks, Profit & Loss has found a widening gap between the top 10 banks and the rest of the pack (Web readers please refer to hard copy print for full results). Estimated marketshare among the top […]
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