The Chicago Stock Exchange, Boston Stock Exchange and Montreal Exchange have all signed deals to use networking technology supplied by Radianz. The trio of exchanges plan to use RadianzNet, Radianz's IP-based global financial extranet, to provide their clients with access to their respective electronic trading platforms.
AXES, an electronic, cross-border trading system co-owned by Auerbach Grayson -- a global securities firm -- and Cross Border Exchange Corp. -- a securities technology vendor -- is scheduled to make its debut in the first quarter of 2003. The Internet-based AXES is expected to provide a round-the-clock trading option to broker/dealer members of Auerbach's securities network.
OneChicago, an all-electronic single-stock futures exchange jointly owned by the Chicago Board Options Exchange, Chicago Mercantile Exchange and Chicago Board of Trade, has postponed its launch to Nov. 8. The exchange was supposed to make its debut on Oct. 25, but recently experienced some minor problems with pricing during a test run. OneChicago has identified the cause of the problem, and expects to be up and running on Nov. 8, pending regulatory approval from the Securities and Exchange Commission.
The Chicago Mercantile Exchange Inc. (CME) and the Korea Futures Exchange (KOFEX) have signed a Memorandum of Understanding to pursue joint business development initiatives in derivatives products. The exchanges, per the agreement, are expected to cooperate on product development projects -- as well as share information.