Dealers join to expand futures operations

Press, 15 May 1985, Page 42

Dealers join to expand futures operations

One of Auckland’s oldest and most experienced futures dealers, Monty Firmin, has joined with Reeves Moses and Hudig to form a new and expanded futures operation, Firmin Futures. This means RMH has diversified into the last major investment area. Firmin Futures will be administered by RMH and will form a major part of its mortgage, property, bloodstock and general investment activities. Firmin began trading international commodities in 1978, when it was known as N.Z. Bullion Company. It has offered New Zealand investors access to overseas futures exchanges through its own overseas pool of investment funds. The new managing director, Mr Roger Moses, says, “We want to see more individuals involved in futures rather than just corporates.” Mr Monty Firmin, the man whose background is in futures, says, “We’re aiming to take futures to the man in the street.” Mr Moses

says that, in keeping with a tradition of being a grassroots merchant bank, he believes the company is well equipped to aim at the average man who wants to be actively involved with his investments. The general manager and senior broker with the new company is Mrs Tina. George, who has an accounting background. She has been actively involved in all aspects of trading for the last two years and has a strong client base. Futures trading offers flexibility, since somewhere in the world, 24 hours a day, a futures market is operating. Mrs George said, “We allow our clients to tailor their trading to suit their needs, interests and goals and we will provide them as much information and advice as they require.” “We see futures as the investment for the person who likes a challenge, wants the singleness and individuality of a futures contract " and who wants to be actively involved in his investment,” she said. On the other hand, many clients used the company’s client advisers to guide their trading, or even manage accounts on a discretionary i basis.