GFI Group’s e-commerce platform, GFI Net, has recently completed a $27 million round of financing and is now in the process of launching a range of online exchanges, online auction, and data and analytics publishing platforms for derivatives, emerging markets, energy and telecommunications, reports Michael Gooch, chairman and CEO of GFI Group and GFI Net […]

Six leading derivative dealers have teamed up to form a new venture called SwapsWire.com, a communications platform that will provide a network and standard trade protocol for online trading and negotiation of interest rate derivatives contracts. The six partner banks, Chase Manhattan Bank, CitiGroup, Deutsche Bank, JP Morgan, Morgan Stanley Dean Witter and UBS Warburg […]

Citibank, Deutsche Bank and Warburg Dillon Read, a division of UBS AG, have teamed up to launch a separate company, Volbroker.com, an Internet-based interdealer broker for the currency options market. Volbroker.com will provide market participants with online execution, pricing tools, value analysis and middle office functionality. The service will be rolled out over the course […]

The Bank of New York (BNY) is planning several enhancements to its Internet-based FX service, iFX Manager, this Spring. The bank plans to begin adding electronic counterparties as part of the multibank feature of the service, and will release a new post-trade S.W.I.F.T. messaging capability to improve post-trade notification. BNY launched iFX Manager in the […]

Charles Schwab Corporation and Barclays Plc have announced plans to jointly develop and operate a fully automated FX facility, which is due to begin rolling out to customers by the end of this year. The aim of the Schwab/Barclays FX facility is to allow investors using Schwab’s online brokerage services to buy and sell securities […]

Cognotec is expanding its presence globally with a number of senior appointments and several new offices. Albert Maasland is joining the group this month as global head of marketing from Deutsche Bank, where he was most recently global head of marketing for the investment bank worldwide. Meanwhile, the e-commerce trading systems provider has opened offices […]

Infinity, a SunGard Company, announced a new range of Internet-based trading, risk management and processing services. The new Web products include TreasuryTrader, theKnowledgeFactory and DerivativeCenter.com. TreasuryTrader is an Internet-based FX and money market transaction and information service that allows financial institutions to provide their clients and branches with end to end transaction data, “one to […]

Deutsche Bank has released a new customer FX order management system as part of its Internet product offering, FXMarkets.com, which launched last October. The service provides customers with online order entry and order monitoring via the Internet, explains Joe Noreña, the recently appointed head of FX e-commerce for the bank. The electronic orderbook is available […]

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, […]

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. […]