News

Malaysia Loosens Exchange Controls

Malysia, which earned the opprobrium of the industry when it imposed exchange controls during the Asian Flu of 1997 98, today loosened them a little. The central bank, Bank Negara Malaysia (BNM), has announced a liberalization designed to make it

Neonet Appoints Two Top Scandinavians To The Board

NeoNet, the Stockholm based international electronic agency broker, has nominated Kari Lotsberg and Torkel Segerstedt as members of the Board of Directors of NeoNet AB. They will be nominated as members of the board together with the current board members

Spear Leads & Kellogg CEO Quits

The Financial Times reports today that Todd Christie, CEO of the Spear Leads & Kellogg correspondent clearing operation owned by Goldman Sachs, has stepped down. Christie was a partner in the firm, which Goldman bought for $6.2 billion in 2000.

Electronic Trade Execution Set To Boom, Predicts Celent

Custodians struggling to persuade clients to use their execution services may or may not be pleased to learn that electronic execution is poised to boom as the market fragments and institutional investors acquire a taste for lower prices. At least

CITCO To Roll Hedge Fund Academy Across Europe

Citco Bank says it will run a series of Hedge Fund Academies across Europe, starting with Switzerland this year and the UK, Germany and Italy over the next two years. The fund administrator has run a Hedge Fund Academy in

Reuters Says Its Forex Brokerage Arm Is Booming

Reuters says its Treasury Broking Services business achieved record trading volumes in the first quarter of this year. The company also announced the introduction of additional Emerging Market currencies to its electronic foreign exchange broking service. "Reuters electronic broking service

IBM In Innovative IT Outsourcing Deal With Canada Life

Today, IBM announced what it describes as an insurance industry first an agreement with Canada Life for insurance software applications that will be delivered on demand, and paid for according to the volume of insurance policies processed. IBM says Canada

Edward Jones Ltd Buys Tarot From ADP Wilco

ADP Wilco says Edward Jones Limited has gone live with new order placement functionality for principal processing on ADP Wilco's retail stockbroking platform, Tarot. This enables Edward Jones, an established user of Tarot, to offer its retail investors access to