Big Banks Setting Up Online Derivatives Dealing Network

April 10, 2000 (PLANSPONSOR.com) - Six leading banks plan to set up a joint venture to create an online trading network for interest rate derivatives.

Chase Manhattan Bank, Citigroup, Deutsche Bank, J.P. Morgan, Morgan Stanley Dean Witter and Warburg Dillon Read said in a statement Monday they had signed a letter of intent that would give each an equal stake.

While initially targeted at professional dealers in benchmark swaps, the companies seek to expand the new system to all market participants, including end-user clients.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

The system will be called SwapsWire. It is subject to regulatory and other approvals. After planned tests in the U.S. dollar and euro interest rate swaps market at the end of this year, it will be rolled out wider in the first quarter of 2001.

TECH-CONSCIOUS – Calvert To Offer Technology Fund with a "Conscience"

August 4, 2000 (PLANSPONSOR.com) - Calvert Group plans to launch the Calvert Social Investment Fund Technology Portfolio, according to a filing with the Securities and Exchange Commission.

The first-of-its-kind fund will focus on “socially responsible companies involved in the development, advancement and application of technology.”

The CSIF Technology Fund is the 16th fund in Calvert’s family of socially screened funds.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

Investments in the funds must meet Calvert’s standards regarding:

  • the environment
  • workplace issues
  • roduct safety
  • community relations
  • military weapons contracting
  • international operations
  • human rights, and
  • respect for the rights of indigenous peoples.

Investment advisory services will be provided by Calvert Asset Management Company, advisor to all of Calvert’s 25 mutual funds, with some $6.6 billion under management. 

Turner Investment Partners will be responsible for portfolio management. Turner Investment Partners manages approximately $10.2 billion in assets for a variety of institutional and individual investors.

– Nevin Adams       editors@plansponsor.com

«