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 […]
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.
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.
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.
International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.
The London Stock Exchange has acquired quality assurance specialist Exactpro Systems, taking 100% ownership of the company.
Financial services firms should get a grip on their risk management and make more use of the data available to them as part of a two-way process in gaining user trust and building new revenue streams.
Nasdaq is to use the blockchain technology behind controversial alternative currency Bitcoin, as part of a push to improve the exchange’s equity management abilities. The move is the first time a major global exchange has put the blockchain concept to use.
Euronext has appointed Jos Dijsselhof as interim chief executive, accelerating its transition plan following the resignation of Dominique Cerutti at the end of last month. Cerutti will now leave immediately.
As greater convergence between asset classes and the unification of trading desks and trading strategies across multiple asset classes becomes more common, the opportunities for sophisticated market abuse may be on the rise. That may mean that the need for surveillance is greater than ever, according to Tony Sio, head of SmartsTrade Surveillance, exchange and regulators at Nasdaq.
Euronext has announced that its chief executive Dominique Cerutti will step down in July to become chairman and chief executive at advanced engineering group Altran.
Financial messaging and data integration specialist Volante Technologies has taken a step into the world of packaged products with the launch of VolPay Foundation, a development platform “designed to ease the challenges of payment integration and payment processing projects”.
Buy-side firms stand to gain from developing their own smart order routers and carrying out their own capital markets research. But the growing independence of the buy-side must still be weighed against sell-side advantages of scale, according to speakers at the Trade Tech conference in Paris on Tuesday.
New Canadian exchange Aequitas NEO has gone live for the first time, using the MillenniumIT trading platform built by the London Stock Exchange’s Sri Lanka-based subsidiary.
Hotspot, the institutional foreign exchange market owned and operated by BATS Global Markets, is to expand its European presence with the launch of its first Europe-based FX matching engine later this year. The new matching engine will be located in the London Slough Campus data centres and will target Europe and Asia and specific FX currencies that dominate the European and Asian trading hours.
Real-time business performance monitoring and analysis specialist Velocimetrics has announced that its TipOff product can now capture network packets to disk at a sustained rate of 40 Gigabits/sec, almost double its previous performance.
Temenos has moved into the fund administration business with a €235 million acquisition of Luxembourg-based Multifonds, which counts a number of Tier 1 institutions as users of its fund administration platform.
Fixed income markets have historically been a bastion of high-touch trading, with manual processes, large tickets and little standardisation. But as recent years have seen inventory slashed and balance sheets cut in face of rising regulatory pressure, finding liquidity has become more of a challenge. A group of banks are hoping to reinvigorate the market though a standardised messaging system.
Continuing its policy of offering products that fit across user workflows, Bloomberg has moved in to the transaction reporting space in Europe. The company’s Trade Order Management System has been granted approval by the Financial Conduct Authority to report securities with an ISIN and OTC derivatives as part of the UK’s Approved Reporting Mechanisms regime.
Avox, the DTCC’s legal entity reference data subsidiary, has launched a series of web-based application programming interfaces designed to support faster access to data, including legal entity identifiers, legal names, addresses, industry classifications and corporate hierarchies.
Deutsche Börse has signed a trio of commodities trading entities to use its new M7 trading platform, developed as part of a complete renewal of its trading infrastructure. Singapore-based regulated futures exchange Cleartrade Exchange, London-based Freight Investor Services Ltd., a broker of freight and commodity derivatives, and Norexeco ASA, a commodities exchange for pulp and paper based in Norway, will start to use the M7 trading platform in the next few months.
From the early days of internet distribution, New York-based Alacra has been aggregating reference data. Chief executive Steve Goldstein told David Bannister the company’s story
Bitcoin market Netagio has launched credit and debit card payment options, as part of a push to make it easier to buy and sell Bitcoin with pounds, euros and US dollars. The exchange, which was founded in 2013, is seeking to popularise the alternative currency and improve its controversial public image.
ICAP is combining its EBS foreign exchange and BrokerTec fixed income electronic trading platforms into one business unit. The change is“an internal management reorganisation” and the platforms will remain separate for the foreseeable future.
Capital markets firms often have little idea how much they are spending on technology and even less control, according to a new report by Tabb Group and Thomson Reuters. The report’s authors call for greater emphasis on data, which could help to save the half a million dollars per front office employee spent on technology every year.
A new exchange is planning to begin trading in March, with a platform focused on long-term investors and issuers. Chief executive Jos Schmitt says the new venue has some unusual features which should help keep unwanted high-frequency traders at bay.
Carsten Kengeter has been named as the successor to Reto Francioni, who is stepping down as chief executive of Deutsche Börse after newaly 10 years. Kengeter will take over after the exchange group’s Annual General Meeting on 13 May 2015.
The financial services industry has always pursued technical supremacy. But after years of financial crisis and attempted reforms to improve the transparency and understanding of risk exposure in financial services, we seem as much in the dark as ever …
The London Metal Exchange is working with Colt to launch a new dedicated network interconnecting all its systems including the LME Clear clearing service.
Trading technology firm Corvil has launched a new streaming analytics platform which it says will help exchanges, banks, brokers and other trading firms to sweep away the IT failures of the past and learn to better understand the market.
French trading solutions and connectivity specialist Ullink has agreed to acquire NYFIX and Metabit from ICE Group, as part of a deal the international company says will give it brand recognition in the US and new opportunities in Asia.
Shifting settlement cycles, the rise of big data, global regulation and increasing demand for post-trade services are creating both challenges and opportunities that global exchanges would do well to face wisely, according to Lars Ottersgard, head of market technology and Eva Saidac, head of business development market technology at Nasdaq OMX.
Canadian ‘challenger’ exchange Aequitas, which plans to favour long-term investors by discouraging HFT, has chosen a trading engine and several other tools from MillenniumIT, the Sri Lanka-based technology company owned by the London stock Exchange.
Citi has launched a new set of trading features and transaction cost analysis tools on its Citi Futures and Options Execution platform, which it says will help clients to gain clarity from their futures clearing merchants.
Nasdaq OMX has launched a new business intelligence service called MiQ, which it says will help its regional exchange, clearinghouse and CSD customers to better understand liquidity, market movements, performance and business opportunities.
Citi has launched an electronic block pricing tool via the Bloomberg App Portal, marking the first time a major tier one broker has ever used the Portal to deploy an application around the world.
Trading firms are still struggling with the Dodd-Frank requirement for certain swaps to be traded on registered Swap Execution Facilities. According to a survey conducted by trading communications vendor IPC Systems, 60% of survey respondents said the industry as a whole was behind on meeting the deadlines on SEF trading, though only 39% said their […]
Despite the deep controversy created by Michael Lewis’ expose of HFT Flash Boys, global equity markets are not broken, according to a senior capital markets panel at Trade Tech Paris 2014.
FX trading service EBS has launched Watch EBS, a new mobile app that is designed to show users the global spot FX market in as close to real time as possible.
