GAIN Makes Senior Hires As Q1 Launch Date Nears

GAIN Capital, the new Internet-based currency trading service planned for launch later this month, has made three senior Wall Street hires for its management team. Glenn Stevens, formerly managing director, head of North American sales and trading at NatWest Global Financial Markets in New York, joins as head of sales and trading, while Colin Mitchell, […]
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Reuters Unveils Internet Strategy

Ahead of the release of its preliminary year-end statement last month, Reuters unveiled a range of initiatives designed to accelerate its use of Internet technologies, open new markets and migrate its core business to an Internet-based model. Reuters plans to spend £500 million over the next four years to migrate its services to Internet technology. […]
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JP Morgan Launches Online Derivatives Services Company

JP Morgan will later this month launch Cygnifi, an independent derivatives services company that will offer market and credit risk applications, independent valuations, portfolio stress testing, counterparty exposure simulations and collateral services to clients through Internet and other e-commerce vehicles. “The company will provide state-of-the-art applications and analytics to clients at attractive price points by […]
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Reuters Releases Dealing 3000…Finally

Eighteen months after it was first previewed, Reuters has finally released Dealing 3000, the “next generation” of its Reuters Dealing products. The service has been rolled out to 70 different customer sites globally, and has 160 users signed up for installation and a number of others in negotiation, according to Marion King, managing director, Money […]
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WDR Uses the Internet to Leverage Across Businesses

Warburg Dillon Read (WDR) has named Fabian Shey, a managing director based in London, as head of global e-commerce for the Treasury Products division. The first order of business for the dedicated e-commerce team is to examine new business processes to optimise ways of operating through this channel. There are three core efforts within the […]
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CSFB Releases FX Module for Online Trading

Credit Suisse First Boston (CSFB) has released Prime Trade FX, another part of the Prime Trade suite of online products to be released globally to third party customers outside the CS Group of companies. Prime Trade originally launched as a listed derivatives service about two years ago, but the system was expanded to include currencies […]
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New Online FX Trading Service Set for March Launch

GAIN Capital is the latest entrant in the race to offer online FX trading services – but hopes to set itself apart by offering real-time, two-way prices on a 24-hour basis with a team of professional Wall Street traders making markets to customers from next month. The New Jersey-based firm is being spearheaded by Mark […]
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Investec Takes Expanded Online Trading System From Information Internet

Investec Bank in South Africa has gone live with an extended version of Information Internet’s MarketMaker online FX trading technology. Six new money market instruments have been added to the MarketMaker service, including fixed loans and deposits, FRAs, overnight call, rand overnight deposit swaps, client foreign currency accounts and trade finance. Additionally, the existing foreign […]
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Sybase Acquires HFN As Part of E-Business Build-Up

Software developer, Sybase Inc, has acquired Home Financial Network (HFN), a privately held Internet financial services company. Sybase will combine HFN with its Financial Server business unit to create a new company that will focus on strategic technology solutions. “Sybase is leveraging its strength in providing end-to-end business integration, in order to capitalise on the […]
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Brokers Relaunch DDN to Speed Deal Confirmation Process

The Direct Deal Notification (DDN) network, the broker-owned electronic deal checking system, now has six bank customers and is essentially being relaunched in the New Year to a wider audience, says Michael Sheard, chairman of the Notification Company which is jointly owned by Garban-Intercapital, Prebon Marshall Yamane and Tullett & Tokyo. DDN is designed to […]
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