Jardine expands in futures. (Ord Westpac Futures Ltd. becomes Ord Jardine Fleming Futures Ltd.) (TrendLines)

Futures (Cedar Falls, Iowa), September, 1993 by Nusbaum, David

While the name changes, the game remains the same for Ord Westpac Futures Ltd., which becomes Ord Jardine Fleming Futures Ltd. this month upon completion of Ord Minnett Group's acquisition by its management and Jardine Fleming. The agreement in principal with Westpac Banking Corp., Ord's prior owner, was announced in August.

The sale, expected to be completed by Sept. 30, is part of Westpac's strategy for disposing of non-core assets. Ord Minnett, which will be held 50% by Jardine Fleming and 50% by Ord Minnett management and staff, is one of Australia's oldest and largest brokerages. Ord Westpac Futures is one of the Sydney Futures Exchange's (SFE) largest clearing members (see "Top brokers: A clearing view of the world").

Christopher Gorman, chief...

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