Nasdaq will replace Australian Securities Exchange’s (ASX) existing equities and equity options clearing technology platforms. ASX says it wants to consolidate its number of post-trade platforms and this latest deal forms a “significant element” of its tech revamp programme outlined in February 2015. Tim Thurman, CIO at ASX, says: “While we have announced that ASX […]
New York Stock Exchange (NYSE) Group says Pillar, its integrated trading technology platform, completed a “key phase” in its rollout and is on track in the testing stage. Pillar will allow connection to all equities and options markets using a single specification, and NYSE Group says it has been “designed to reduce complexity”. It says […]
Korea Exchange (KRX), the securities exchange operator in South Korea, plans to launch a platform powered by blockchain to liven up the off-board trading market. According to The Korean Times, KRX has started “preliminary steps” to introduce the new platform connecting sellers and buyers to trade securities directly. “Though many steps remain before the system’s […]
Japan Exchange Group (JPX) is building a real-time clearing solution for its listed derivatives market with the help of specialist provider Cinnober. Sweden-based Cinnober is providing JPX with its flagship Tradexpress clearing platform. JPX’s listed derivatives market is operated by the Osaka Securities Exchange (OSE) and cleared by the Japan Securities Clearing Corporation (JSCC). JPX […]
New York Stock Exchange owner, Intercontinental Exchange (ICE), says it may make a rival bid for London Stock Exchange (LSE) – setting up a potential takeover battle with Deutsche Börse. ICE says an approach on the LSE hasn’t been made yet, but the speculation lifted LSE shares to a record high today (1 March 2016). […]
Spain’s Bolsas y Mercados Españoles (BME) has bought securities information provider Infobolsa from Deutsche Börse for €8.2 million in cash. The agreement also includes the acquisition of Infobolsa’s wholly-owned subsidiaries: Difubolsa (Serviços de Difusão e Informação de Bolsa) and Infobolsa Deutschland. Consequently, BME, through Infobolsa, will also become the owner of Open Finance, another Spanish […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Fiserv’s CUnify core processing system bags 25 US credit unions More good news for the US software vendor. IBM delivers blockchain-as-a-service for developers Code to joy… nearly 44,000 lines made available. Potential “merger of equals” between Deutsche Börse […]
Deutsche Börse has launched a fintech initiative for new companies and start-ups in Frankfurt. From April onwards, it will make “fully equipped rooms available as a suitable environment to further develop new ideas and entrepreneurial concepts”. The start-ups will also receive on-site support from employees of the Deutsche Börse Venture Network. These will use their […]
Deutsche Börse and the London Stock Exchange (LSE) have confirmed they are in “detailed” discussions about a potential “merger of equals” of the two businesses. The announcement saw shares in the LSE and Deutsche Börse rise 17% and 7% respectively. It is the third time they have tried to make a deal, the first attempt […]
ITRS, the analytics and real-time monitoring technology provider, has announced plans to integrate its Geneos platform with the trading and risk management platform of eBroker Systems to provide a series of performance metrics for users. The agreement will see Geneos monitor both eBroker’s deployed and hosted trading platform. eBroker Systems operate in the Greater China […]
Trading platform provider Fidessa has reported a growth in revenue in 2015 up 7%, rising to £295.5 million up from £275 million in 2014, despite the reduction and closure of many sell-side trading operations over the last 12 months. The firm notes that the closure of the Jefferies Group’s Bache futures unit and Standard Chartered […]
A whitepaper by market operator Nasdaq OMX has warned that disruptive technology needs to be encouraged if Europe’s proposed Capital Markets Union (CMU) is to prove effective. The paper notes that the current proposals place an emphasis on larger institutions investing and growing their product and service offerings, which the firm argues do not necessarily […]
The Irish Stock Exchange (ISE) has renewed its strategic technology partnership with Deutsche Börse and extended its use of the Deutsche Börse trading infrastructure and related services. The new contract runs for 6 years until the end of 2021. Deutsche Börse has provided the Xetra platform to the Irish Stock Exchange since June 2000. Several […]
Estonia’s e-Residency platform will use a blockchain-based e-voting service to allow shareholders of companies listed on Nasdaq’s Tallinn Stock Exchange, to vote in shareholder meetings. The country’s e-Residency platform is an electronic identity system used by both Estonian residents and those with business interests in the country to access government services through e-Residency digital authentication. The program […]
Malaysia headquartered RHB Investment Bank (RHB) has implemented Fidessa as its trading platform across Asia. The system, managed by Fidessa throughout the region, provides algorithmic trading across all member markets, ‘intelligent’ indications of interest (IOIs) and a centralised order management system (OMS) with integrated middle-office to support RHB’s regional business. The ability to on-board a […]
The largest vendors in the trader voice market are now in a similar position to IBM in the late 1990s: their solutions are proprietary, expensive to maintain, and lacking true open integration …
Market operator Nasdaq has seen revenues from its technology sales increase, with its Technology Solutions division, which makes up 27% of total net revenues reach $146 million in the fourth quarter of 2015, up from $4 million from the fourth quarter of 2014. The exchange’s Market Technology unit, which accounts for 13% of total net revenues, […]
Financial software provider GATElab, part of London Stock Exchange Group (LSEG), has launched an ultra-low-latency service risk gateway to the National Stock Exchange of India (NSE). The solution is designed to enables users to send orders to the NSE equity derivatives segment in less than 30 microseconds, if all the pre-trade risk checks are met. […]
The value of dark equity trading jumped last year despite pending European regulations which will limit a fund manager’s ability to trade shares away from stock exchanges, according to research from equities broker ITG.
A range of financial services and technology firms are backing efforts by The Linux Foundation to develop “an enterprise grade, open source distributed ledger framework”.
Alternative trading system Chi-X Canada has been bought by Nasdaq, as part of a push by the global exchange group to grow its presence in North America’s largest country. The deal is expected to go through in Q1 next year.
Deutsche Börse has renewed its contract with Stockholm-based independent surveillance technology provider Scila, signing a five-year agreement to continue using its software.
2015 has been a year of extensive discussion about what role blockchain can play in making processes in the financial services industry more efficient. It has also been a year where both banks and start-ups have been testing whether distributed ledger technology can adequately replace costly legacy systems and improve securities processing, writes Brian Collings. […]
Non-profit organisation the FIX Trading Community has started posting its projects on developer repository GitHub, as part of a drive to get all of the important resources freely available in one place using a single sign-on. The move was done to encourage wider access and to speed up the development of standards for high-performance trading applications.
The Singapore Exchange is to launch FX block futures on ICAP’s FX platform EBS Market, in a deal the two companies say will bridge the FX OTC and futures markets. The move comes as regulators around the world seek to move as much trading activity towards cleared platforms as possible, as part of the ongoing G20 reform agenda.
European exchange groups in London and Frankfurt have announced changes in their technology leadership, with the announcement of a new group chief information officer at the London Stock Exchange and a restructuring of responsibilities at Deutsche Börse.
A new stock exchange, Bolsa Institucional de Valores, is planning to launch in Mexico, creating competition for Latin America’s second largest stock market, the BMV. The exchange, currently waiting for final regulatory approval, will use Nasdaq’s X-stream trading platform.
The London Stock Exchange has signed a memorandum of understanding with JSC Kazakhstan Stock Exchange, the first ever between the two exchanges.
Deutsche Börse strengthened its links with mainland China this week with the establishment of a partnership with the Shanghai Stock Exchange and China Financial Futures Exchange to create new marketplace for the trading of renminbi-denominated offshore products under the new brand of the China Europe International Exchange.
Derivatives exchange CME has signed a commercial agreement with Dwolla, a bank transfer platform. The arrangement will use Dwolla’s real-time architecture to support on demand payment clearing and settlement services. It is intended to streamline payment operations for CME Clearing members. “With its established customers and proven real-time systems, Dwolla’s technology provides CME Group with […]
Nasdaq’s first fruits from its enterprise-wide blockchain technology plan,the Linq share ownership platform, has attracted an initial group of users it was announced at the Money20/20 conference in Las Vegas this week.
The London Stock Exchange Group is planning to launch a new interest rate derivatives venture called CurveGlobal, which initially aims to offer short term interest rate futures. Backed by several banks including Bank of America Merrill Lynch, Barclays, Citi, Goldman Sachs, JP Morgan and Société Générale, the new venture is part of the exchange’s long-held ambition to gain traction in the derivatives markets, which have historically been dominated by rivals in continental Europe.
London Stock Exchange and The Depository Trust & Clearing are partnering to provide clients with a connection to the LSE’s UnaVista Approved Reporting Mechanism. The service will allow DTCC clients to comply with the Markets in Financial Instruments Regulation through their current connection from DTCC’s Global Trade Repository.
Closer links between the Shanghai Stock Exchange and UK and European exchanges may be on the cards. The London and Shanghai exchanges are exploring a scheme to link their markets. At the same time, European exchange group Euronext announced a deal with the Shanghai Stock Exchange to promote its listed members to Chinese investors.
Saxo Bank is to allow access to its multi-asset trading and back office infrastructure through a new open API that will allow developers and partners to integrate Saxo’s trading functionality into their own applications and systems.
The London Stock Exchange has sold its Proquote market data and retail trading services business to Australian financial technology specialist Iress, which is expanding its capital markets and funds operations in the UK.
The London Stock Exchange says that the launch of Turkish derivatives on its derivatives market represents part of the long-cherished goal of growing its derivatives business around the world. It also represents the exchange’s ‘open access’ policy.
European stock exchange BATS Chi-X Europe has created a new order book for auctions, which it says will help traders to make larger trades. The new book is set to go live on 19 October, and represents an effort to satisfy long-term traders interested in larger order sizes.
Stock markets in Nigeria, Kenya and South Africa are planning to launch cross-listed exchange traded funds later this year, as part of an initiative that aims to boost liquidity across Africa’s three largest markets.
Project Neptune, the fixed income trading initiative between a group of 42 large banks and asset managers, has gone live with its pilot production network, bringing the project closer to its ‘hard’ platform later this year.
