News
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…
TSX Prepares PC Bond Expansion
The Toronto Stock Exchange last month completed the migration of the PC Bond fixed-income index business acquired from Scotia Capital to the TSX, and plans to gain significant traction this quarter by expanding the PC Bond business into a multi-dealer…
Saxo Bank Plans FAST Data for Q4
Danish investment bank Saxo Bank will develop a proprietary feed handler to capture data via the FAST (FIX Adapted for Streaming data) protocol before the end of this year, and will also decide whether to use FAST for outbound distribution of quote data…
Firms Explore Valuation Options For FASB 157 Compliance
Pricing vendors and accounting specialists are reporting a recent spike in investment managers seeking assistance in complying with SFAS (Statement of Financial Accounting Standards) 157 from the Financial Accounting Standards Board, which will come into…
HSH Nordbank Replaces Terminals, Outsources Data Tech Platform
German bank HSH Nordbank has in the last two months completed a rollout of Reuters 3000 Xtra terminals to replace obsolete Telerate screens at its trading floor in Kiel, with the assistance of Hamburg-based consultancy IT-Spezialist (ITS).
CBOE Proposes Backdated Fees, Ends Cross Rebates
The Chicago Board Options Exchange has asked the US Securities and Exchange Commission to allow it to collect retroactive fees for market data from the CBOE and the CBOE Stock Exchange (CBSX) distributed between April 1 and May 31 this year.
Proquote Broadens Icap OTC Content
Proquote, the data vendor subsidiary of the London Stock Exchange, is expanding coverage of OTC-traded markets through its relationship with interdealer broker Icap, which will see the vendor begin carrying new asset classes and geographic coverage,…
New HS Indexes Track China-HK Disparities
Hang Seng Index Services will today, Monday, July 9, launch the China AH Indexes Series, a set of indexes to track the performance difference between shares of companies with both mainland Shanghai-listed A-shares and Hong Kong-listed H-shares (AH…
CMS Webview Considers Liquidation
UK-based ticker plant and market data technology vendor CMS Webview may be forced to fold later this month when shareholders vote on whether to place the vendor in voluntary liquidation, after failing to make new sales of its TDI ticker plant software.
Amex Readies Level 2 Feed, Uses FAST
The American Stock Exchange is developing a Level 2 feed of equities market depth data for launch in the second half of this year utilizing the FAST (FIX Adapted for Streaming data) protocol to reduce the bandwidth issues associated with market depth…
Reuters Launches OTC Post-Trade Reporting Tool
Reuters is testing a new tool for reporting over-the-counter trades in European equities with a number of medium-sized broker clients, which will help firms comply with the European Commission's Markets in Financial Instruments Directive regulations,…
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.
Panel: Mifid's Impact on Exchanges Uncertain
LONDON—The future of liquidity after the E.U.'s Markets in Financial Instruments Directive (Mifid) takes effect is still uncertain, panelists concluded during last week's meeting of the Financial Services Club.
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 .