Sell-Side Technology/News
TSX, MX to Form New Canadian Exchange
TORONTO-Following the rash of multi-asset exchange consolidations, officials from TSX Group, operator of the Toronto Stock Exchange (TSX) and Montréal Exchange (MX) have announced their intention to merge under a tentative TMX Group brand.
Swift Fix for STP?
LONDON-Industry messaging cooperative Swift is in talks with FIX Protocol Limited (FPL) to advance interoperability between the messaging standards operated by the two bodies.
HKMA Debuts Electronic Trading Platform
HONG KONG-The Hong Kong Monetary Authority (HKMA) has launched its electronic trading platform (ETP) for exchange fund bills and notes, say officials.
Credit Suisse Wins AFTAs Hat Trick
NEW YORK-Credit Suisse's IT organization walked away with three of the 13 awards at the third annual American Financial Technology Awards (AFTAs) ceremony in midtown Manhattan last week. The firm's technologists took home top honors in the Best Global…
Orc Software Readies Canned Strategies
NEW YORK-Orc Software plans to release its Orc Liquidator product to a broader set of firms by offering the algorithmic trading engine with pre-packaged strategies in the first quarter of 2008 with a Chicago-headquartered client receiving the first auto…
Dresdner Kleinwort Integrates Trade Ideas
LONDON-Users of Dresdner Kleinwort's research and analytic portal can now receive trade ideas for firm officials since the bank integrated its centralized trade idea distribution platform from vendor youDevise with its proprietary Web-based research…
Markit Makes Confirmation Buy with SwapsWire
LONDON-U.K.-based over-the-counter (OTC) derivatives processor Markit last week announced a deal to acquire SwapsWire, a post-trade services provider for the OTC derivatives market. The deal, for an undisclosed sum, is expected to generate synergies with…
Q-Wixx to Offer Multi-Dealer Support
NEW YORK-Clients trading on credit derivatives platform Q-Wixx will have the option to give up their orders to multiple prime brokers in the first quarter of 2008, officials tell DWT .
Virt-x, Nyfix to Launch Swiss Dark Pool
NEW YORK & LONDON-SWX Swiss Exchange's London-based securities exchange Virt-x and crossing network provider Nyfix will deliver a non-displayed, block-trading service for Swiss blue-chip equities in mid-2008, say officials from both organizations.
CLS Goes Live with NDF Settlement Platform
LONDON-ABN Amro, Credit Suisse, Fortis, HSBC and The Royal Bank of Scotland became the first settlement banks to go live with non-deliverable forwards (NDF) settlement via CLS' new settlement platform last week.
Outsourced Grids Coming
LONDON-As compute processing becomes a commodity, investment banks are facing the economic pressure to outsource or incorporate third-party compute power within their compute grids. However, many firms are still tackling the security and data privacy…
UBS to Expand European Smart Routing
LONDON-Global broker-dealer UBS Investment Bank plans to expand its recently debuted smart order routing in Europe to other asset classes, including exchange-traded derivatives (ETDs), officials tell DWT .
Credit Suisse Adds Exotic FX Options Trading
LONDON-Credit Suisse has enabled trading in structured exotic foreign exchange (FX) options on its proprietary electronic trading platform, Merlin, with select institutional clients globally, dealer officials announced recently.
Virtualization Set to Grow
LONDON-Investment banks facing the challenges of maintaining physical servers in crowded datacenters have stopped experimenting with server virtualization and have made it a key component of their grid computing strategy, say industry insiders.
LSE, Borsa Italiana Detail New Structure
LONDON-The London Stock Exchange (LSE) and Borsa Italiana have outlined their combined organizational structure in an internal document distributed to staff last week following the completion of their merger in October ( DWT , Oct. 8), a copy of which…
On Point Migrates Networks
NEW YORK-Users of agency brokerage On Point Executions' smart order routing platform and matching engine for equities options, Sting, will have their connections migrated onto an updated version of the platform over the next few weeks, say firm officials.
Platform to Update Symphony
NEW YORK-The latest version of grid computing platform Symphony from Platform Computing will be available in pre-release form this week, DWT has learned.
MarketAxess Makes OMS Buy
NEW YORK-Electronic fixed-income trading venue MarketAxess has acquired order management system (OMS) and connectivity provider Trade West Systems (TWS) in an effort to deepen its integration into investor and dealer trading workflows, say MarketAxess…
Goldman Sachs to Launch FX Algos
LONDON-Goldman Sachs plans to debut its foreign exchange (FX) trading algorithms in the first half of 2008 as part of its strategy to gain market share, firm officials tell DWT .