The Chicago Mercantile Exchange plans to launch Eagle -- an application that will permit electronic calendar spread trading on the exchange's Globex trading system -- by mid-November. The rollout of Eagle is expected to occur approximately three weeks after the scheduled Oct. 25 launch of OneChicago -- an all-electronic, single-stock futures exchange jointly owned by the CME, Chicago Board Options Exchange and Chicago Board of Trade. Eagle, which is an acronym for Electronic Arbitrage Globex Liquidity Enhancer, will enable CME participants to execute trades electronically in the first eight quarterly expirations and 22 corresponding calendar spreads in Eurodollar futures.
Mitsubishi Corporation's Energy Business Group has selected TradeCapture's ICTS Symphony, a multi-commodity trading and risk-management system. The firm intends to deploy ICTS Symphony to track and manage its global petroleum and gas assets.
NeoNet, an independent software vendor that provides front-end trading systems to institutional investors and broker/dealers, has built an electronic interface to Nasdaq's SuperMontage order-display and execution network. By the end of 2003, NeoNet -- which has already built connectivity to all of the major European stock exchanges -- expects to develop a link to the New York Stock Exchange's electronic trading platform. SuperMontage is scheduled to launch on Monday, Oct. 14.
BrokerTec Futures Exchange (BTEX), the all-electronic financial futures market, has appointed a new chairman and vice chairman. Dennis Scurletis, managing director in charge of interest rate sales and fixed-income futures brokerage at Morgan Stanley & Co., has been named chairman of BrokerTec. Michael Dawley, vice president of global futures services at Goldman, has been tabbed vice chairman of the exchange.