ADM Investor Services, Inc. Announces the Formation of ADM Derivatives, Inc.
27 Juli 2005 - 6:24PM
PR Newswire (US)
ADM Investor Services, Inc. Announces the Formation of ADM
Derivatives, Inc. DECATUR, Ill., July 27 /PRNewswire-FirstCall/ --
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 O'Driscoll, 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 O'Driscoll 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. O'Driscoll
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). Archer Daniels Midland Company (ADM) is a world
leader in agricultural processing. ADM is one of the world's
largest processors of soybeans, corn, wheat and cocoa. ADM is also
a leader in the production of soy meal and oil, ethanol, corn
sweeteners and flour. In addition, ADM produces value-added food
and feed ingredients. Headquartered in Decatur, Illinois, ADM has
over 26,000 employees, more than 250 processing plants and net
sales for the fiscal year ended June 30, 2004 of $36.2 billion.
Additional information can be found on ADM's Web site at
http://www.admworld.com/ . DATASOURCE: Archer Daniels Midland
CONTACT: Brian Peterson, Senior Vice President-Corporate Affairs of
Archer Daniels Midland, +1-217-424-5413 Web site:
http://www.admworld.com/
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