News
Bank Consortium to Build Unregistered Securities Platform
LONDON—A group of investment banks, including Citi, Lehman Brothers, Merrill Lynch and Morgan Stanley, are developing a multi-bank electronic trading platform for unregistered securities, according recent media reports.
City of London Prepared for Potential Deluge
LONDON—As the U.K. experiences its worst flooding in 60 years, financial firms in the City of London and Canary Wharf aren't in harm's way, but they say they are prepared for the possibility of a flood.
Paladyne Integrates S&P Ratings for Hedge Funds
Buy-side software vendor Paladyne Systems has begun providing ratings data from Standard & Poor's to its hedge fund clients for use in their risk management and trading operations.
Indian Buyer to Boost Yipes Market Coverage
San Francisco-based Ethernet provider Yipes Enterprise Services plans to roll out its services to 36 new countries and to double its coverage of the US market as a result of its $300 million acquisition by Indian telecommunications service provider…
TSX Signs Aussie Deal for Index Analysis Software
Bond Index Systems, a new Australian company being set up by Melbourne-based Australian Indices and Kevin Lamont, a former fixed-income risk manager at the Bank of Nova Scotia, is preparing to roll out the Toronto Stock Exchange's PC Bond index analysis…
SWX, Virt-x Prep FAST Datafeed
Swiss exchange operator SWX will next year roll out a datafeed that incorporates the FIX (Financial Information eXchange) and bandwidth-reducing FAST (FIX Adapted for Streaming data) protocols in a bid to drastically reduce latency over the exchange's…
Amex Rejects SIFMA Fee Objection
The American Stock Exchange has hit back at calls from the Securities Industry and Financial Markets Association (SIFMA) for the US Securities and Exchange Commission to delay approval for a proposed datafeed of Amex last sale prices.
FASB Rule May Outlaw Block Discount Valuations
Uncertainty over the future of applying "blockage discounts" when valuing thinly traded securities needs to be resolved urgently if firms are to meet the deadline for compliance with the Financial Accounting Standards Board's Statement (SFAS) 157,…
Wiener Börse Integrates Romanian Data
Austrian exchange Wiener Börse has added Romanian equity data from the Bucharest Stock Exchange (BSE) onto its recently launched Alliance Data Highway (ADH) feed, as part of a broader strategy to expand the range of data carried on Wiener Börse's feed…
Essex Radez Co-Lo Cuts NY Latency
Chicago-based market maker and data technology supplier Essex Radez is to open a co-location center in the facilities of NYSE TransactTools, the New York Stock Exchange's technology arm, to reduce data latency for the firm's clients in Chicago.
Interfax Launches News Archive Analytics
Russian information agency Interfax has launched a news analysis service, dubbed SCAN (System for Complex Analysis of News), that allows users to search through an archive of major Russian media outlets.
ITRS Revamps Monitoring Tools
ITRS, a London-based provider of software for monitoring the operations of real-time data and trading systems, has begun to roll out a series of upgrades to its Geneos product line designed to make the software easier to use and more scalable for large…
Knight Preps FX for EMS
JERSEY CITY, N.J.—Market-maker Knight Capital Group plans to integrate foreign exchange (FX) trading capabilities into the next release of its Knight Direct EMS platform, due out in September, say brokerage officials.
Mercari Taps IPC for Network
SYDNEY—Mercari, Australia's first specialist electronic interbank over-the-counter (OTC) interest rate derivative brokering company, announced last week that it has gone live on an IP data network from communications vendor IPC, which includes hosted…
CNCB Rolls Out BT to Trading Floor
BEIJING—China CITIC Bank Corp. (CNCB) officials announced last week that the bank has deployed BT's converged trading communications solutions for its main trading floor in Beijing.
Paper: Industry Expects Mifid Fines
LONDON—Approximately 95 percent of surveyed firms affected by the E.U.'s Markets in Financial Instruments Directive (Mifid) expect to pay fines for non-compliance in the first quarter of 2008, according to recently published white paper.
RSJ: Liffe Algo Will Down System
PRAGUE & LONDON—Czech specialist brokerage RSJ Invest, one of the largest traders of interest-rate futures on the Liffe futures exchange, claims to have found inconsistencies in the exchange's new trade matching algorithm, Time Pro Rata. The algorithm…