ADM Investor Services, Inc. (ADMIS) has announced the launch of ADM Derivatives, Inc., which will offer Foreign Exchange services to institutional and retail clients through its Global Foreign Exchange department. The department will provide principal and agency currency markets to its clients through the deployment of an electronic trading platform.
The Global Foreign Exchange department of ADM Derivatives, Inc. will be co-managed by Messrs. Barry Crawford and Leonard OâDriscoll, who also have been named Vice Presidents of the newly-formed company. They will be responsible for the organization, launch and management of the department. Previously, Messrs. Crawford and OâDriscoll were Senior Vice Presidents and Managers of Global Foreign Exchange at Spear, Leeds & Kellogg, a division of Goldman Sachs.
Prior to joining ADM Derivatives, Inc. in 2005, Mr. Crawford worked in the Foreign Exchange industry for more than fifteen years, while Mr. OâDriscoll worked in the Foreign Exchange industry for more than twenty years.
ADM Derivatives, Inc. will be located at the ADMIS Chicago Board of Trade offices. Operations of this venture are expected to begin in August 2005.
ADM Investor Services is a Chicago-based full-service futures clearing firm with affiliates in 250 locations throughout the United States and Taiwan. Both ADM Investor Services and ADM Derivatives are wholly-owned subsidiaries of Archer Daniels Midland Company (ADM).