The Minneapolis Grain Exchange (MGEX) agreed to provide licensing of the RANorder MGEXpress API (application-programming interface), to Rolfe & Nolan Systems Inc.'s entire RANorder client base. The agreement provides access to MGEXpress, the exchange's electronic-trading platform--which includes trading for National Corn Index (NCI) and National Soybean Index (NSI) futures and options--via all of RANorder's front-ends, for no license or installation fees. RANorder is an ASP-based, white-label system providing retail, commercial and professional trade entry, pre-trade credit control, exchange routing and real-time account updates. Rolfe & Nolan has completed development of the MGEXpress API and is in production with several RANOrder clients.
Cynthia Zeltwanger was named president and CEO of Fimat USA, Inc. Previously, Zeltwanger served dual roles as chief operating officer of Fimat USA, Inc. and general manager of Fimat's Chicago office. She succeeds Patrice Blanc, who was nominated chairman and CEO of Fimat Group in September 2002. Zeltwanger will oversee the Group's entire U.S. brokerage operation and report directly to Blanc.
Customers of FlexTrade Systems can now access The New York Stock Exchange's OpenBook via FlexTrader. OpenBook provides aggregate limit-order volume data for bids and offers in all NYSE-traded issues. "Since OpenBook is really an open look at the specialists' book, our traders will obtain more levels of information that goes beyond last bid and ask, which can be significant difference when large blocks are at stake," states Vijay Kedia, president of the Great Neck, NY.-based company. FlexTrader is a quantitative equity-trading and order management system, serving a global client base of buy and sell-side institutional users, including hedge funds, investment managers and broker/dealers.