Chase’s David Adamson Looks a Gift Horse in the Mouth

David Adamson celebrated his exit from the markets with the “ritual” leaving party at Little Havana in Leicester Square, where hundreds of friends and colleagues gathered to wish him well in his retirement. ’Ritual’, it turns out, is a racehorse – which Adamson’s former colleagues from Chase bought him as a leaving gift. Adamson, together […]
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Dresdner Releases New Internet FX Trading System

As part of its new e-commerce suite of online products, Dresdner Kleinwort Benson (DrKB) has released PIRANHA, an FX dealing system that enables customers to trade FX spot, forwards and swaps over the Internet. PIRANHA is connected directly to DrKB’s real-time price feed, and trades can be tracked using the system’s real-time position blotter. ’We […]
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Generale & MeesPierson Now Trade as Fortis Bank

As of June 24, the FX, money market and derivative activities of the former Generale Bank Nederland was incorporated into the treasury of MeesPierson in Amsterdam, and both groups now trade under the Fortis Bank Nederland name. <?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />
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ACI Announces Nominees To Strategic Planning Group

  Eight ACI members have been nominated to ACI’s new Strategic Planning Group, which was formed in April under ACI vice president Mike Eastaway. In addition to Eastaway, ACI’s managing director Bill Hahn; Karl Berger of Canada; Shadi Hanna of Lebanon; Chris Howlett of Singapore; José Manuel Galey of Spain; Jan Trädgardh of Sweden; and […]
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American Express Group Takes Stake in Softbank/Cognotec Venture

American Express Travel Related Services has taken a minority stake in Forexbank, and will lend its marketing expertise to the new venture. Forexbank was recently set up by Japanese software house, Softbank, and Dublin-based Cognotec, to jointly market Cognotec’s Internet-based FX and money market trading platform, AutoDeal LITE, to customers in Japan and Korea. Softbank, […]
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CME Starts Dual Trading in E$

The Chicago Mercantile Exchange last month started side-by-side trading of its flagship Eurodollar contract over the Globex2 electronic trading system. The Merc’s Eurodollar contract is one of the world’s most actively traded futures contracts, and accounts for more than half of the exchange’s total futures volume. ’The introduction of side-by-side Eurodollar trading (on July 6) […]
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Reuters Launches FX Orderwatch

At Forex 99 in Milan last month, Reuters launched its FX Orderwatch product, which enables corporate sales dealers to monitor orders and make immediate changes. The electronic order handling service includes a full audit trail facility. The system is now installed at eight client sites in 12 countries and will be rolled out globally throughout […]
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Hungarian Forex Publishes OTC Derivatives Documentation

The Hungarian Forex Association (HFA) has published the 1999 Hungarian Forex Association Definitions, to provide a common set of terms to use in preparing confirmations for privately negotiated derivatives transactions involving the Hungarian Forint and other Hungarian underlying cash markets.  The HFA has also released the 1999 Hungarian Forex Association Supplement to the 1992 ISDA […]
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CBA Restructures Forex Unit To Support New Client Structure

In a move that supports its new client service model, Commonwealth Bank Financial Markets in Sydney has recently altered its structure and made some significant forex staff changes, says Paul Riordan, global manager. The new model comprises corporates, investors and financial institutions. John Noonan joined the bank as head of financial institution sales, FX, and […]
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What Happened to Rabobank?

After announcing a commitment to build a world-class forex operation nearly two years ago, Rabobank decided in June to curtail the business. The decision resulted in 105 job cuts in London (about one-third of the dealing room) as part of a restructuring of its wider international wholesale operation. With the decision to relocate the London-based […]
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