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April 21, 2000
ELECTRONIC TRADING WEEK
from Wall Street & Technology
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IN THIS WEEK'S ISSUE
(scroll down for summaries)
* OM Develops Multiple Front Ends, Builds Direct Link to
Instinet
* CBOT Names Interim President/CEO
* Velocity Trade Rolls Private-Network-Based Dealing
System;
* Targets Index Futures Traders
* Buy-Side Traders Side with Nasdaq CLOB vs. ECN Linkages
* IN BRIEF
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IN THE NEWS
OM DEVELOPS MULTIPLE FRONT ENDS, BUILDS DIRECT LINK TO
INSTINET
Swedish firm to launch three products by June. The company's
Institutional Order Management (IOM) system, in particular,
will, for the first time, provide OM's broker/dealer clients
with a direct, online link to Instinet's ECN.
For the full story, click on
<A HREF="http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43340";>
http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43340</A>
____________________________________________________________
CBOT NAMES INTERIM PRESIDENT/CEO
Dennis Dutterer takes a leave of absence from the Board of
Trade Clearing Corp. to temporarily fill the void left by
the unexpected resignation of Tom Donovan two weeks ago. The
restructuring CBOT is focusing on tech-savvy external
candidates to take the firm in a new direction.
For the full story, click on
<A HREF="http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43341";>
http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43341</A>
____________________________________________________________
VELOCITY TRADE ROLLS PRIVATE-NETWORK-BASED DEALING SYSTEM;
TARGETS INDEX FUTURES TRADERS
With pricing and a private network as key differentiators,
Velocity's FloorPass provides electronic connectivity to the
floor of the CME and CBOT, as well as a number of trading
engines used by all-electronic derivatives markets. The firm
has signed up 40 active traders since its April 17 launch.
For the full story, click on
<A HREF="http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43342";>
http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43342</A>
____________________________________________________________
BUY-SIDE TRADERS SIDE WITH NASDAQ CLOB VS. ECN LINKAGES
At a recent Tower Group conference, it became clear that
buy-sdie traders are leaning toward Nasdaq's Super Montage
proposal, rather than informal linkages between ECNs.
Concerns still exist, however, about recent technology
glitches at Nasdaq.
For the full story, click on
<A HREF="http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43343";>
http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43343</A>
____________________________________________________________
IN BRIEF
Long-time Instinet COO Richard Schenkman leaves to take an
executive post with Brass Utility ECN; Refco Securities
takes a 15% stake in QV Trading Systems; Currenex gets $22
million in venture capital funding. To get a quick roundup
of the people, places and events making news in electronic
trading, click on
<A HREF="http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43344";>
http://www.wstonline.com/mfwt/parse.html?page=showarticle&aId=43344</A>
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For more, click on
<A HREF="http://benchmarking.answerthink.com/wallstreetandtechnology";>http://b
enchmarking.answerthink.com/wallstreetandtechnology</A>
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