Trading Desk NEWS BRIEFS

Posted: 03/2002

TRADING DESK

NEWS BRIEFS

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Arbinet-thexchange introduced “peak/of-peak” trading on its voice minutes exchange in select European markets. The service allows members to buy or sell minutes on the same destination at two different prices depending on the time of day or day of week.

A service provider terminating calls during weekday business hours typically pays top dollar but can save a bundle of money through the new service if it is routing calls during times and days when rates are typically lower, such as weekend evenings and weekends, according to Arbinet-thexchange. The flexible pricing mechanism also may help service providers boost volume during slow periods.

The service was introduced for call termination in Belgium, Italy, the Netherlands and the United Kingdom. Arbinet-thexchange anticipates expanding service to other markets including Mexico.

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John E. McConnaughy Jr.joins RateXchange Corp.’s board of directors. McConnaughy says he serves on other boards of directors and owns an investment firm, Connecticut-based JEMC Corp. He was chairman and CEO of Peabody International Corp., a company in the environmental products and services sector. McConnaughy says Forstmann Little & Co. acquired the company in the 1980s.

Before joining Peabody in 1969, McConnaughy was employed by Singer Co. and Westinghouse Electric, says RateXchange, which has eight board members who meet quarterly.

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Enron Broadband Services Inc. listed Level 3 Communications Inc. as its largest unsecured creditor in its filing with the U.S. Bankruptcy Court Southern District of New York. The claim is valued at nearly $7.25 million.

However, a statement from Broomfield, Colo.-based Level 3 says the company sold wholesale services but never traded bandwidth with the fallen energy giant.

“Level 3 has never operated a bandwidth trading desk or engaged in bandwidth trading,” the statement says. “As a vendor, Level 3 has sold private line, dark fiber and other communications services to Enron. Level 3 has never purchased communications services from Enron.”

Bankrupt operator 360networks was listed as Enron’s second largest unsecured creditor. The $4 million claim was for dark fiber.

Among some of Enron’s 20 other largest unsecured creditors and the claim amounts: No. 4 Metromedia Fiber Network Inc., nearly $2.34 million for collocation and access fees; No. 6 EPIK Communications, $1.24 million for dark fiber; No. 9 WorldCom Inc., $364,000 for a circuit.