Articles by Timothy Bourgaize Murray
New FIA Study Suggests Futures Volatility Not Influenced by HFT
Research conducted for the Futures Industry Association by Nicholas Bollen and Robert Whaley at Vanderbilt University's Owen School of Management suggests that recent trading in 15 futures contracts has not become more volatile, despite increased…
In Two Days, Signals of Change
Nasdaq's SIP-related glitch on Thursday seems a foil for today's news, that the boards of Bats and Direct Edge approved a merger deal on Friday creating a new entity that will surpass Nasdaq's market share. Both events may be long-remembered, and perhaps…
Eurex Halts Trading on Tech Glitch
The largest European derivatives market stopped trading in multiple index-based futures this morning at 8:15 am, with a subsequent delay of about 65 minutes as it investigated an unspecified technical malfunction.
Updated: Nasdaq-Listed Equities, ETFs, and Options Resume Trading After 'Flash Freeze'
At 12:14 this afternoon, trading in Nasdaq OMX-listed equities and exchange-traded funds was paused across most American exchange venues after Nasdaq's market data feed, known as Tape C, ceased proper interaction with the operator's securities industry…
SimCorp Updates Dimension with Trade-Processing Dashboard
The buy-side provider's asset management platform, version 5.4, will also include functionality for FX hedging overlaying multiple portfolios, trading limits capability for compliance managers, and enhancement to the strategy manager application for…
Futures Trading Algorithms Find Traction
Equities and futures microstructures have always functioned differently—and in terms of algorithmic application, the latter has always benefited from the adventures of the former. From order placement optimization to a revived debate on pricing…
Envestnet Integrates HiddenLevers for Portfolio Stress-Testing
The wealth management platform provider will now include HiddenLevers' macro scenario portfolio testing tool, which uses algorithms to model the impact of economic events on asset classes as well as individual securities.
Quantifi Tapped for ICE Futures Price-Spread Calculator
The analytics provider has released a new tool for pricing credit index futures listed by IntercontinentalExchange (ICE) Futures U.S., backing increased demand for exchange-traded futures, which trade more cheaply than OTC derivatives under new global…
Otkritie Online with Additional London Presence, Beckoning Global HFT
The new connection at Equinix's LD4 datacenter, located in Slough, offers closer proximity to colocated servers of over 80 exchange and trading platforms across 30 European markets. Otkritie now claims the lowest latency connection between Moscow and…
Information Mosaic CEO Byrne Steps Down
The post-trade software vendor's CEO, John Byrne, will move to the role of non-executive vice chairman, with current chairman Ulrich Kunz becoming a placeholder chief executive as the search for a replacement begins.
Bitcoin's Regulatory Parade: Justified or Fiasco?
Regulators including the Securities and Exchange Commission (SEC) and New York State Department of Financial Services (DFS) are examining the virtual currency that has fascinated popular imagination by—as much as they can—treating it as real. Will new…
Spectrum Equity, TA Associates Buy Lehman's Stake in BATS
The growth private equity specialists have acquired separate minority stakes in BATS Global Markets, the world's third-largest exchange operator, the sum of which was previously held by Lehman Brothers Holdings Inc.
SS&C Technologies Joins IPC's Extranet
SS&C, which produces FIXLink, MarketCenter, and the MarketTrader OEMS among other applications, will use the extranet to transact, receive, and distribute information through an open ecosystem.
AxiomSL Appoints Elliot COO
The reporting and risk management solutions provider has brought on Gordon Elliot for its newly-formed operations chief role, where he will focus on partnerships for expansion and other growth initiatives.
As SEC Grows Analytics, Form PF Data Quality Should Sharpen
An update from the US Securities and Exchange Commission (SEC), published in late July, gives a sense of funds' first pass at the reporting requirement, but more importantly, lays out just what authorities will do with that information. And their plans…
Swan Wealth Advisors Takes Omex for Order Routing
The buy-side risk management specialist, with $850 million assets under management and based in Durango, Colorado, will use Omex's execution platform for implementing options strategies across its multiple custodians and sub-accounts.
Bloomberg Integrates LCH.Clearnet's Swaps Margin Calculator
Bloomberg's Professional Service can now directly access LCH's SwapClear Margin Approximation Risk Tool (SMART) to determine capital funding requirements for swaps.
First, React: Systems Performance Should Be Visually Evident, Not Contractual
Data tells the tale of what markets are doing, what's aberrant, and why rarely, if sometimes spectacularly, things go wrong. Systems performance tools provide those signals, just as exchange venues provide tick data. Firms are beginning to figure out how…
Numerix Integrates FVA Framework
The analytics provider has added a new framework for sell sides to calculate funding valuation adjustment (FVA) for arbitrary instrument types, including bespoke instruments with optionality, callability, and triggers such as Bermudan swaptions.
G2 Fintech Adds to Advisory Board, Staff Ahead of Cloud Push
Scott Devinsky, CFO at First Oak Capital Management, joins the tax analysis and compliance provider's board. Peter Kohli and Megan Bilkie meanwhile sign on to help guide the vendor's client services and sales teams.
Deloitte Study Finds Increased Risk Management Tech Spend
The eighth biennial survey on risk management practices concluded that almost two-thirds, or 65 percent, of financial services firms have upped their risk management and compliance spend. 58 percent say more increases are expected in the next three years.
Poland's Central Clarity: CEO Iwona Sroka, KDPW Group
Dr. Iwona Sroka designed the strategy for Warsaw’s KDPW Group to reflect an operational efficiency and a future for capital markets in Central and Eastern Europe (CEE) that is increasingly bright. Strength in technology is the key. By Tim Bourgaize…
Sapient, EEX Tackle REMIT Reporting
Sapient Global Markets is now a certified implementation partner of the Leipzig, Germany-based European Energy Exchange, which is beefing up its transparency and reporting portal to help wholesale energy providers comply with mandated Regulation on…
Private Equity Data Alliance AltExchange Grows Membership
The consortium of general (GPs), limited partners (LPs), industry groups, as well as technology provider eFront, which officially launched in May, has seen significant interest across private equity, but especially from larger GPs.