Citadel, Others Found Electronic Futures Exchange

Dec 24 2007 | 10:25am ET

Citadel Investment Group is backing a new all-electronic futures exchange that may compete with hedge fund giant’s hometown Chicago Mercantile Exchange, the world’s largest futures exchange.

The as-yet-unnamed futures market is expected to launch its first product—U.S. treasury futures—early next year.

The low-cost bourse is backed by a dozen financial institutions, and will be headed by Paul Saltzman, chief operating officer of eSpeed, as acting CEO. eSpeed will also serve as the exchange’s technology provider.

In addition to Citadel and eSpeed, the other members of the group include banks Bank of America, Barclay’s, Barclay Capital, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan, Merrill Lynch and the Royal Bank of Scotland, as well as trading firm GETCO LLC and liquidity provider PEAK6.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Why Is The Shipping Industry Underwater?

Jul 31 2014 | 7:31am ET

Anyone who’s taken a look at the global shipping industry recently probably knows...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note