Trading Tech
Paper: Expand Cross-Asset OMS Support
NEW YORK—Trading systems that support cross-asset trading are no longer an option, but a necessity, concludes a recent white paper issued by consultancy Tabb Group.
Expert Hails Algo Trading
NEW YORK—The rise of algorithmic trading has significantly improved the health of the foreign exchange (FX) market, according to a keynote address at the FX Week USA congress last week.
Algorithms Gain Traction in FX
NEW YORK—Wider adoption of algorithmic trading within the foreign exchange (FX) markets is all but inevitable, according to panelists who spoke during last week's FX Week USA conference hosted by sibling publication FX Week .
On Point Debuts Options Sweep
NEW YORK—Agency brokerage On Point Executions plans to roll out its new smart order routing and liquidity matching engine for equities options, dubbed Sting, today, July 16, DWT has learned.
CME, CBOT Plan Common Platform for 2008
CHICAGO—After respective shareholders approved the acquisition of the Chicago Board of Trade (CBOT) by the Chicago Mercantile Exchange (CME) last week, CME officials say they expect to complete the technology integration by the first half of 2008, DWT…
Switch Flaw Hampers NSX Trading
CHICAGO—Switching woes last Wednesday between the National Stock Exchange (NSX) and one of its major liquidity providers, which it declines to identify, resulted in the exchange handling one tenth of its average daily volume.
Panel: Mifid to Spur FIX Adoption
LONDON—The requirements of the E.U.'s Markets in Financial Instruments Directive (Mifid) should further the adoption of the FIX protocol as a standard for automated trading, according to panel participants who spoke during the quarterly FIX Protocol Ltd…
DealHub Preps Netting Initiative
NEW YORK—Post-trade technology vendor DealHub is planning to launch a pre-operations netting service for the interdealer market in order to manage back-office capacity constraints brought on by the rise in foreign exchange (FX) trading ticket volumes,…
Panel: Mifid an Opportunity, Not a Curse
LONDON—Financial firms should see the E.U.'s Markets in Financial Instruments Directive (Mifid) as a business opportunity rather than a purely regulatory obligation, say industry members who spoke last week on a panel hosted by BearingPoint and BT Global…
Latency: "Death by a Thousand Cuts"
Citigroup last week announced a deal to acquire Mount Pleasant, South Carolina-based electronic market maker Automated Trading Desk for $680 million in cash and shares, in a bid to boost Citi's electronic order-flow capabilities. With ATD now commonly…
SWX, Virt-x Prep New Trading Platform
LONDON—SWX Swiss Exchange and Virt-x, its London-based securities exchange, are launching a trading platform based on SWX's X-Stream technology, to address the rising demand for algorithmic and direct market access (DMA) trading, say exchange officials.
Bombay Exchange Debuts App for Corporates
MUMBAI—The Bombay Stock Exchange (BSE) has released a browser-based trading application to support the development of its exchange-traded market for corporate bonds, dubbed Indian Corporate Debt Market (ICDM), say exchange officials.
BAS to Enhance InstaQuote
NEW YORK—Banc of America Securities (BAS) plans to add strategy engines to its InstaQuote electronic execution system, bank officials tell DWT .
Liffe Preps Liffe Connect Upgrade
LONDON—European derivatives exchange Liffe, formerly Euronext.liffe, plans to release new versions of its electronic trading platform, Liffe Connect, by the end of this year, DWT has learned.
AC Capital Takes On-Demand CDO² Pricing
Dublin-based asset manager AC Capital Partners last week went live using derivatives pricing and risk analytics from UK-based vendor CDO², running on a pay-on-demand grid computing solution from Sun Microsystems’ Network.com subsidiary.
Project Boat Finalizes Data Interface
Project Boat, the nine-bank data consortium established to take advantage of the pre- and post-trade transparency requirements of the European Union’s Markets in Financial Instruments Directive, last week issued the final version of the application…
Yes Bank Rolls Out RTFX for FX Pricing
MUMBAI—As part of a wider foreign-exchange (FX) initiative, Mumbai-based private sector bank Yes Bank has deployed bank-to-client FX trading service Reuters Trading for Foreign Exchange (RTFX) to distribute prices, bank officials tell DWT .
OMX Set to Win Turquoise Contract
LONDON—Nordic stock exchange operator and technology provider OMX Group is in advanced negotiations to become the sole technology provider to the Markets in Financial Instruments Directive (Mifid)-inspired multilateral trading facility (MTF) Project…
LSE, Borsa Italiana to Use TradElect
LONDON & MILAN—Officials from the London Stock Exchange (LSE) and Borsa Italiana announced last week that both bourses plan to standardize on the LSE’s TradElect trading platform after the two exchanges merge.
Euronext.liffe to Launch Stirs Algo
LONDON—European derivatives exchange Euronext.liffe plans to debut a new trade matching algorithm for its short-term interest rate (Stirs) futures contracts on Aug. 20, exchange officials say.
Swift to Revamp Global Network
NEW YORK—The Society for Worldwide Interbank Financial Telecommunication (Swift) is preparing a global upgrade of its network infrastructure, which will include a new redundant operations center located somewhere in Europe, Swift officials tell DWT .
3D Markets Preps Options ATS
NEW HOPE, PA.—A new equities options alternative trading system (ATS) from start-up vendor 3D Markets is preparing to take flight, vendor officials tell DWT .