The Chicago Mercantile Exchange has named its board officers for the coming year. Terrence Duffy, vice chairman, James Oliff, second vice chairman, Martin Gepsman, secretary, and Robert Haworth, treasurer, were all re-elected to one-year terms, running through April 2002. Chairman Scott Gordon, chairman emeritus and senior policy advisor Leo Melamed and special policy advisor Jack Sander also sit on the board.
Alfa Bank has licensed Egar Technology's Focus trading and risk management system in support of its Intermark division. Focus is expected to provide Alfa, Russia's largest private bank, with an all-in-one, front-office trading application for foreign exchange, FX options, fixed income and margin trading.
The Board of Trade Clearing Corp., the independent clearing arm of the Chicago Board of Trade, has formed a strategic alliance with Traiana, an e-business technology vendor catering to online derivatives markets. Under the deal, the BOTCC will provide transaction processing and payment services for Traiana's online markets and market participants.
IBM has released its so-called STP Workbench for e-business. Targeted at global securities firms, this combined technology/services package offers clients access to IBM consulting services and messaging technology--as well as STP e-business applications supplied by IBM partners.