The Wachovia Corporate and Institutional Trust division has been appointed stock transfer agent to Florida based Winn Dixie Stores, a supermarket chain with 1,070 outlets in 12 states and the Bahamas. In addition to transfer agency, Wachovia will provide dividend
Summit Systems says that Bank of China has bought its treasury and capital markets platform for its interest rate derivatives trading desk. The system, which went live in December 2003, was implemented in Beijing and other sites to provide the
The Chicago Board of Trade (CBOT) says 2003 saw the highest yearly volume total ever recorded in the history of the exchange 454,190,749 contracts. Total volume was up 32.1 percent for the year. Volume in December was 34,987,155, up 51.7
Nikko Asset Management has tapped Tremont Capital Management to help it design a new fund of hedge funds program that Nikko will make exclusively available in Japan to its Japanese institutional investor clientele. Nikko Asset Management, one of the largest
SunGard Trading and Risk Systems, an operating group of SunGard, has acquired the WhiteLight Basel II solution, including WhiteLight's SymphonyRPM development team. WhiteLight's Basel II solution a calculation, analysis and reporting solution that uses the SymphonyRPM Analytic Platform is being
The Kuala Lumpur Stock Exchange (KLSE) completed its conversion into a limited public company yesterday. The will now vest and transfer its stock exchange business to a new wholly owned subsidiary whilst the demutualized KLSE will become the Exchange Holding
The Korea Stock Exchange (KSE) is proposing to tackle the problem of illiquid stocks, which are subject to large swings in price, by replacing the continuous auction system with periodic call auctions in illiquid shares. All bids and offers in
The Chicago Board of Trade (CBOT) has responded to competition from Eurex by introducing a "permit programme" designed to make it easier for European market participants to trade financial, stock index and commodity derivatives on its electronic platform. CBOT also
UBS is revamping its IT infrastructure and management by creating a central group of 3,000 specialists, according to press reports in Zurich. The goal of the centralisation, which will take effect in the second quarter, is to trim costs by
Novara Aquilone Sicav a mutual fund sponsored by Banca Popolare di Novara S.p.A. (Gruppo Banco Popolare di Verona e Novara) has appointed Dexia Fund Services in Luxembourg as custodian, fund administrator and transfer agent. First European Transfer Agent (FETA), a