The London International Financial Futures Exchange (LIFFE) is separating its technology-based activities under the name LIFFE.com. The LIFFE board of directors saw the success of its electronic trading system LIFFE Connect as a sign that the area calls for separate management.
MatchbookFX has received fidelity bond coverage in the amount of $3 million to protect its own assets and the assets of its clients for which it is legally liable. The fidelity bond protects against embezzlement, theft and negligence on the part of the online currency exchange's employees and partners. The bond does not cover risk exposure in trading activity of MatchbookFX or any of its customers.
Neovest, a developer of analytical software for brokers, investors and active traders, completed its first round of financing with $6.1 million in a private placement. The financing was completely funded by customers and professional associates, such as company advisors and consultants. Although venture capital was not a part of the first round, Neovest may consider venture capital partners in the future.
Douglas Paul has been appointed vice chairman of fixed income and derivatives at Credit Suisse First Boston. Paul has been with CSFB for 30 years and was most recently a member of the firm's sales management team in U.S. fixed income. In his new role, Paul will be responsible for representing CSFB with both issuers and investors around the world.
The Iceland Stock Exchange has signed an agreement to become a part of the NOREX Alliance, which was founded in 1998 by the OM Stockholm Exchange and the Copenhagen Stock Exchange. Under the agreement, the Iceland Exchange will use OM Technology's SAXESS exchange system, which is also used at both the OM Stockholm and Copenhagen exchanges. The arrangement is expected to be finalized sometime during the second quarter. The Oslo Stock Exchange has also signed a letter of intent to join the NOREX alliance, which is hoping to become a joint Nordic securities market with a common trading system and trading rules.