Sell-Side Technology/News
Cross-Asset Trading to Become Reality in Europe
LONDON-Trading multiple instrument types simultaneously will be commonplace in European markets within the new few years, predict industry insiders.
SOA Faces Tough Asian Slog
DELHI-Although uptake of service-oriented architecture (SOA) in Asia is still in the nascent stage, global financial institutions in the region are leading the way in a growing awareness of SOA, according to a newly released report from IT market…
Hotspot FXi Revamps Platform
JERSEY CITY, N.J.-Electronic foreign exchange (FX) venue Hotspot FXi expects to replace its single matching engine with several new matching engines in January 2008 to improve the platform's performance, DWT has learned.
Polishing Turquoise
Now that the E.U.'s Markets in Financial Instruments Directive (Mifid) has taken effect, the European market will start to witness a number of multilateral trading facilities (MTFs) go into production over the next several months.
Smart Routing No Longer Just an Option
LONDON-With the rise of multilateral trading facilities (MTFs) in the post-Markets in Financial Instruments Directive (Mifid) environment, investment banks can't delay implementing smart order routing if they wish to remain competitive, say industry…
Orange Business Services Expands China Presence
BEIJING & SHANGHAI-Orange Business Services has acquired the trading activities sector of its Chinese exclusive distributor, Dataway, DWT has learned.
UNX Launches Component-based Algorithms
NEW YORK-Agency brokerage UNX has released five new trading algorithms today, Nov. 26, officials tell DWT .
Liquidnet Sets Up Shop in Pacific Rim
HONG KONG-New York-headquartered crossing network provider Liquidnet is going live in four Asian markets this week-Hong Kong, Japan, Singapore and South Korea.
Citi White-Labels Saxo Platform
NEW YORK-Global banking giant Citi will white-label Saxo Bank's foreign exchange (FX) trading platform as Citi FX Pro for smaller institutions, officials from both banks have announced.
Knight Makes Algo Buy with EdgeTrade
JERSEY CITY, N.J.-Getting some holiday shopping done early, broker-dealer Knight Capital Group is acquiring agency broker EdgeTrade to fill out Knight's current electronic trading capabilities, according to Knight officials.
NYSE Euronext to Consolidate Datacenters
NEW YORK-Exchange operator NYSE Euronext is in the early planning phase of consolidating its existing datacenters located on the east coast of the U.S. Datacenters located outside the region will be unaffected by the plan, officials say.
Experts: Asia to Follow European Trading Mold
NEW YORK-Firms looking to test the electronic trading waters in Asia should follow the history lessons learned in Europe, not the U.S., according to a recent roundtable of industry participants.
GL Trade Acquires Decision Software
PARIS & NEW YORK-To bolster its presence in the fixed-income markets, trading software and services provider GL Trade announced last week the acquisition of Decision Software, a provider of fixed-income trading platforms, liquidity connectivity and…
RTS Plans New Year's Tech Revamp
MOSCOW-The Russian Trading System (RTS) Stock Exchange plans numerous technology upgrades beginning in the first quarter of 2008, DWT has learned.
GL Trade Adds Turkish Hub
ISTANBUL-In an effort to expand its global connectivity network, trading software and services provider GL Trade has started operating its newly developed connectivity hub in Istanbul, officials announced today, Nov. 19.
Hybrid Trading Still Rules in Fixed Income
NEW YORK-Although there is a constant growing need to make fixed-income trading more efficient and cost-effective, the likelihood of the market turning completely electronic is highly unlikely, according to a recent panel of industry experts.
TradeWeb, Omgeo Form STP Alliance
NEW YORK-Electronic fixed-income-trading network Thomson TradeWeb and post-trade, pre-settlement utility Omgeo plan to improve the straight-through processing (STP) of fixed-income instruments through a strategic alliance, officials from both firms…
Bloomberg, Swift to Offer FX STP
NEW YORK-To address the schism that exists between the front, middle and back offices in processing foreign exchange (FX) trades, Bloomberg is teaming up with industry messaging cooperative Swift, DWT has learned.
Merrill Lynch Upgrades Trading Floor Communications
NEW YORK-As part of a multi-year program to standardize its trading floor communications infrastructure, Merrill Lynch will deploy approximately 4,000 IQ/Max trading turrets and related software and services from IPC over the next several quarters, say…
Calyon Financial, CQG Provide Asian Connectivity
CHICAGO-Global brokerage firm Calyon Financial and analytics trading platform and market data provider CQG are partnering to provide trading access to nine Asian futures exchanges, officials announced.