18 January 2018
visit www.ebaday.com

Deutsche Bank to channel fixed income liquidity through eSpeed

08 August 2001  |  3667 views  |  0 Deutsche Bank to channel fixed income liquidity through eSpeed

Deutsche Bank is to become a primary marketmaker for European fixed income products over the eSpeed electronic marketplace. The agreement makes eSpeed a primary distribution channel for the German bank in the wholesale markets.

Commenting, Alan Burnell, managing director of European fixed income trading at Deutsche Bank says: "We are looking to centralise our pools of liquidity in all of our markets. eSpeed has proved that its leading technology and robust platform can help us expand our price distribution and market-making information to achieve this goal."

European securities currently account for almost one half of the world's debt issues, and the young, Euro-denominated securities market is expected to grow at an unprecedented rate.

New York-based eSpeed, an offshoot of Cantor Fitzgerlad, currently provides the marketplace infrastructure for 48 financial and non-financial instruments. The company has just reported record results for the second quarter ended 30 June, 2001, raising revenues by 52 percent to $34.1 million versus $22.5 million in the same period in 2000.

Second quarter fully electronic revenue grew 57 percent year-over-year to $20.8 million. Total revenue from software solutions in the second quarter 2001 increased 68 percent over the comparable period last year. Software solutions includes technology revenue associated with TradeSpark, Freedom and Cantor Fitzgerald and software revenue associated with the company's software licensing agreements.

The company reported a net operating loss, excluding non-cash charges and taxes, of $0.5 million or ($0.01) per share, significantly down from the $9.1 million loss reported in the second quarter ended 30 June, 2000.

eSpeed has also been buouyed by a positive preliminary ruling on the scope of the Wagner Patent which the company acquired in April. The ruling concerns a pending patent infringement lawsuit in which eSpeed has sued the Chicago Board of Trade and the Chicago Mercantile Exchange. eSpeed believes that the method of electronic trading described by the Wagner Patent will generate several new partnership and software solutions opportunities with companies interested in developing and trading futures-related products.

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

BondBook passes $10 billion trading mark

BondBook passes $10 billion trading mark

06 August 2001  |  2883 views  |  0 comments
Front allies with Iris Financial for fixed income connectivity

Front allies with Iris Financial for fixed income connectivity

03 August 2001  |  3127 views  |  0 comments
Ameritrade to acquire Deutsche US brokerage

Ameritrade to acquire Deutsche US brokerage

31 July 2001  |  3833 views  |  0 comments
Visible Markets and BondEdge join forces

Visible Markets and BondEdge join forces

17 July 2001  |  3173 views  |  0 comments
Deutsche offloads Emagine IT business to GFT

Deutsche offloads Emagine IT business to GFT

03 July 2001  |  5798 views  |  0 comments
Canadian banks to launch electronic bond trading platform

Canadian banks to launch electronic bond trading platform

28 June 2001  |  5375 views  |  0 comments
eSpeed acquires TreasuryConnect OTC trading platform

eSpeed acquires TreasuryConnect OTC trading platform

21 June 2001  |  2643 views  |  0 comments
SIA: Thomson launches fixed income order management system

SIA: Thomson launches fixed income order management system

18 June 2001  |  3845 views  |  0 comments
Deutsche Bank Alex. Brown to use Derivatives.com ASP

Deutsche Bank Alex. Brown to use Derivatives.com ASP

13 June 2001  |  2916 views  |  0 comments

Related company news

 

Related blogs

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

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
10477 views comments | 32 tweets | 36 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10047 views comments | 17 tweets | 18 linkedin
Exchanges call for global fintech standardsExchanges call for global fintech standard...
9735 views comments | 17 tweets | 14 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9631 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9189 views comments | 17 tweets | 16 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job