24 September 2017
visit www.avoka.com

Investment banks launch trade ideas utility

01 November 2005  |  10517 views  |  0 globe_11

Investment banks Citigroup, Credit Suisse First Boston (CSFB), Dresdner Kleinwort Wasserstein (DrKW) and Merrill Lynch have teamed up to develop a single platform for the distribution of trade ideas to their clients.

The four banks will distribute trade ideas to clients through a central Web-based hub, called the repository and distribution centre (RDC). The banks inolved in the platform will not be able to see each other's trade ideas.

Previously these messages, which comprise short- or long-term trading ideas rather than fundamental research, were sent to clients across a range of bespoke systems.

Chris Driscoll, deputy head of Pan-European and equity customer trading at CSFB, told reporters that the service is designed as a utility for the industry, although it is not intended to distribute research or replace existing systems.

The hub will be operated by Trade Ideas Limited (TIL), which is in turn owned by each of the banks.

TIL commissioned the software house, youDevise Limited, to develop the RDC software but has ultimate responsibility for the RDC operation, which it out sources for day-to-day operation to youDevise Limited.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Morgan Stanley, Citigroup, UBS and CSFB acquire stakes in PHLX

Morgan Stanley, Citigroup, UBS and CSFB acquire stakes in PHLX

17 August 2005  |  10758 views  |  0 comments

Related company news

 

Related company information

Credit Suisse

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.vasco.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13316 views comments | 28 tweets | 44 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9574 views comments | 13 tweets | 28 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8564 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8268 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8037 views comments | 32 tweets | 45 linkedin

Featured job

circa £250K total package
London

Find your next job