Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


00:00 AM
Connect Directly

In Brief

Daiwa Futures has selected FNX's Sierra System to provide online FX, FX Option and international Futures trading to its global customers. The Japanese futures commission merchants plans to implement the system in its Tokyo office and roll out the trading service via the Internet in mid 2000. The Sierra system will handle all aspects of Daiwa Futures' customer orders including pricing, deal capture, position management and risk analysis and will replace the firms proprietary system. Customers will be able to directly access their trading accounts, monitor account status, place orders, conduct simulations, run reports, and view pricing in real-time.

NexTrade, the 24-hour ECN, is integrating Javelin Technologies' Coppelia FIX server solution. NexTrade expects to increase its access to liquidity and widen connectivity through the use of FIX. The Coppelia server is a messaging solution that communicates in all FIX versions.

IBM has teamed up with J.P. Morgan's Internet technology division, Arrakis, to launch MorganOnLine. The e-business solution is a personalized online wealth management service for the firm's high net worth clients. IBM WebSphere will serve as the base for MorganOnLine, which will also utilize IBM VisualAge Java development for building and maintaining the service.

Richard Sansom has been named chief financial officer of Wit Capital Europe, a joint venture between Wit Capital Group and Dublin-based enba PLC. Samson joins Wit Capital Europe from Merrill Lynch where he was most recently head of finance for the European investment banking division and regional controller of the capital markets finance functions in Europe and South Africa. Wit Capital Europe is an Internet investment bank, which plans to serve issuers and investors throughout Europe in the Internet and technology sectors once it gains regulatory approval.

Separately, Wit SoundView announced that Mack Rossof has joined the online investment banking firm as managing director and head of mergers and acquisitions. Rossoff was previously global head of the media entertainment investment banking practice at J.P. Morgan. Wit SoundView was formed in early 2000 when Wit Capital Group and SoundView Technology Group came together to form an online firm focused on the Internet and technology sectors. Wit SoundView offers investment banking services such as Internet strategy advisory, venture capital, private equity placements, public under writings and secondary offerings.

Register for Wall Street & Technology Newsletters
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.