A development contract has been signed between Patsystems and the Tokyo Grain Exchange (TGE) to provide the infrastructure for the first-ever continuous market for rice futures at the exchange. The TGE will use Patsystems’ exchange systems technology as the platform to integrate its existing session-style trading with continuous trading. This solution includes Patsystems’ J-Trader front-end, an order management system and a matching engine. The details are subject to a confidentiality agreement; however, the contract is expected to generate revenues of approximately £4m over the next five years, including a substantial element of sourced hardware at a very small margin, and ongoing licence revenue for the use of J-Trader, based on the number of users. The licence revenue is likely to start at the end of 2005/beginning of 2006.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.