Omgeo, a provider of post-trade, pre-settlement trade management services, announced yesterday that Timothy Keady was promoted to managing director, global sales and relationship management. He has also joined Omgeo’s executive team. Lee Cutrone, managing director of industry relations, will now also oversee Omgeo’s global marketing function. Martin Brennan takes on the new role of managing director, business development for the Asia-Pacific and Europe, Middle East and Africa (EMEA) regions. All three gentlemen report to Marianne Brown, president and chief executive officer.
Oslo Børs will open its new, less onerous marketplace, to be called Oslo Axess, in May. The Board of Oslo Børs has now approved the less demanding final rules and admission requirements for the market.
On Thursday last week electronic commodities trading platform InterContinental Exchange made a hostile bid for the parent company of the Chicago Board of Trade (CBOT). The price values CBOT at around $10 billion.
London-based data and valuation provider Markit Group has formed a partnership with Quintillion, a Dublin-based fund administration services company, to provide mutual customers with fund administration services and independent Over-The-Counter (OTC) derivatives valuations.
Credit Suisse has appointed Graham Duce as Head of Credit Suisse Asset Management's UK Multi-Manager Platform (MMP). Duce was previously responsible for developing Credit Suisse Asset Management's Multi Asset Class Solutions (MACS) relationship with the private banking arm of the giant Swiss bank across the UK.
The Chicago Board Options Exchange (CBOE) says that last week was the second consecutive week in which it experienced the busiest weekly trading activity for options on the S&P 500 Index (SPX) in its history. Volume during the week of March 12-19, 2007 totalled a reported 5,051,009 contracts traded, besting the previous record of 4.35 million contracts set just a week ago (March 5-9, 2007).
Bloomberg Tradebook Services has launched an electronic foreign exchange trading platform called BLOOMBERG TRADEBOOK FX, which it says "ushers in a new era for global FX market participants." BLOOMBERG TRADEBOOK FX is an electronic marketplace providing institutional traders with the ability to transact in foreign currency exchange while preserving their anonymity from other FX market participants. Users can also make use of sophisticated trading algorithms to implement trading strategies.
SunGard says its margining application is compliant with the new margin calculation rules set by the NYSE and the CBOE
SunGard says its Margin Advisor application for monitoring of cross-asset margin now meets the requirements of the New York Stock Exchange's Rule 431 amendments and the Chicago Board of Options Exchange's Rule 12.4 that give broker-dealers, futures commission merchants (FCMs) and non-clearing members the ability to adopt a risk-based portfolio margin methodology from 2 April.
European market connectivity provider Equiduct has published a second white paper in a planned series of six free documents written by industry experts. Entitled "Market Transparency: Is this the CESR Liquid List?", it can be downloaded from www.equiduct.eu.
Nomura-owned agency brokerage Instinethas promoted Christopher Rogers to Chief Technology Officer (CTO). Rogers, previously Chief Software Architect of the firm,will succeed Michael Bundy, who was last week named CTO of Chi-X, Instinet’s new pan-European equity alternative trading platform.