Marks & Spencer, the ailing British food and clothing retailer, is following the example of General Motors and raising 400 million in the bond markets to cover its pension fund deficit. The company says the fund raising will raise the
TradeWeb, online fixed income trading platform, says that UniCredit Banca Mobiliare (UBM) has become a dealer participant on its network. "The Italian market represents a significant and growing piece of the fixed income business in Europe," says Lee Olesky, President
ADP Wilco says it has extended business process outsourcing service. Its clients are currently able to outsource to ADP Wilco elements of operational processes such as trade capture, end of day reconciliation, instrument pricing and securities and corporate actions reference
CheckFree Financial and Compliance Solutions (CFACS), a business unit of CheckFree Corporation has announced three new client wins for Kedrios, a CheckFree business partner and a provider of outsourced middle and back office services in Italy. The new clients are
US fund managers see streamlining operations as the most important issue facing them in 20004, and a unified platform as the key to real time performance reporting. Or so suggests a survey by QED Information Systems, a provider of portfolio
The international derivatives market Eurex traded 81 million contracts in February and recorded year on year growth of around 10 percent (February 2003 73.7 million contracts). On average, approximately four million contracts were traded and cleared each day. In the
Thomson Financial has sold its PORTIA and Oneva Trade EQ tools to BISYS Fund Services. PORTIA is a portfolio management system, while Oneva Trade EQ is an order management system integrated with it. BISYS is also buying the Thomson Automated
SunGard says the Bank of Israel has selected the MINT SWIFTNet FIN solution to replace its SWIFT interface to take advantage of SWIFTNet readiness. Bank of Israel has committed to use MINT as its strategic SWIFTNet FIN platform, to manage
On 6 February 2004, the turnover in number of traded derivatives contracts at Stockholmsbrsen reached an all time high. The number of traded contracts was 1 499 765, to be compared to the previous all time high of 1 068
The Japanese CSD, JASDEC, says the dematerialization of corporate bonds will start on 10 January 2006. The date was approved at a meeting of the Board of Directors held on Friday. Corporate, utilities, municipal and Samurai bonds are all affected.