Sell-Side Technology/News
Following JPMorgan's Open-Source Trail
As open source and grid computing gain more traction in the financial services space, technology gurus at investment banks have to figure out ways to stay ahead. DWT U.S. reporter Oksana Poltavets sits down with Adrian Kunzle, chief architect of…
Global Exchanges Branch Out, Form Partnerships
NEW YORK, LONDON & TOKYO-The largest global exchanges have not sated their appetites for joint ventures, as a number of bourses announced new partnerships.
Gaselys to Finish Symphony Migration
NEW YORK-Energy trading firm Gaselys, a joint venture between Gaz de France and Société Générale (SocGen), will be fully migrated to the grid computing solution Symphony from Platform Computing by the end of this month, vendor officials tell DWT .
Study: Firms Not Ready to Compete in Mifid
LONDON—Financial firms have spent 20 to 25 percent less than initial estimates on preparation for the E.U.’s Markets in Financial Instruments Directive (Mifid), concludes research by IT services provider Atos Origin.
Downtime Costs Firms Over $10K per Hour
LONDON—When an internally developed system fails, U.K. banks and financial firms can expect to pay over $10,000 per hour for the downtime, according to a study published by IT market research firm Vanson Bourne and sponsored by business service…
Bourse, Bank JV to Launch SmartPool MTF
LONDON—NYSE Euronext, along with French bank BNP Paribas and London-headquartered HSBC, have entered into a joint venture to launch a multilateral trading facility (MTF), dubbed Project SmartPool, sometime in the second quarter of 2008, say officials.
FutureTrade Links to Emerging Markets
NEW YORK—Clients of electronic agency brokerage FutureTrade should be able to access the Asian and Latin American markets within weeks, brokerage officials tell DWT .
Wall Street Passes Pandemic Test
NEW YORK—The U.S. securities industry’s emergency preparedness has paid off, according to preliminary results of a three-week influenza pandemic test sponsored jointly by U.S. regulators and financial firms.
Portware Adds FX Support
NEW YORK—Portware users trading equities, futures and options soon will be able to trade foreign exchange (FX) as the execution management system (EMS) provider prepares for a platform upgrade targeted for January 2008, DWT has learned.
LSE Manages Latency with Corvil
LONDON-The London Stock Exchange announced today, Oct. 22, that it has adopted the network latency monitoring platform from networking tool vendor Corvil to minimize latency on the LSE's TradElect trading platform, vendor officials tell DWT .
LiquidityHub Goes Live
LONDON-After numerous delays, the bank consortium-backed fixed-income pricing aggregator LiquidityHub has gone live today, Oct. 22, DWT has learned.
NeoNet Connects to Chi-X
Direct market access (DMA) agency broker and trading technology provider NeoNet's clients will now have access to Chi-X, Instinet's pan-European alternative trading system (ATS), NeoNet officials announced today, Oct. 22. NeoNet is currently connected to…
Preparing the ICE Storm
In the past year, the IntercontinentalExchange (ICE) has acquired the Winnipeg Commodities Exchange (WCE), opened its own European clearinghouse and has been growing like a snowball rolling down hill.
FIX Protocol Makes Gains in FX
LONDON-The FIX messaging protocol is gaining ground in the foreign exchange (FX) market, according to panelists who spoke at an event held by the FIX Protocol Ltd. (FPL) late last week.
BGC Partners Taps GFI Exec for E-Commerce Head
NEW YORK-Hybrid voice and electronic interdealer broker BGC Partners has named Clive England to the newly created position of director of the North American e-commerce unit, brokerage officials tell DWT .
Swift Readies Next Phase of Derivatives Pilot
NEW YORK-Industry messaging cooperative Swift expects to launch a pilot for XML-based messaging standards for reconciling derivative trades in the first half of 2008, DWT has learned.
Panel: Exchanges Must Evolve or Die
LONDON-European exchanges will need to adapt in order to stay ahead of competition that will arise in the new fragmented market after the E.U.'s Markets in Financial Instruments Directive (Mifid) takes effect on Nov. 1, according to participants of the…
UNX Opens Trading Service Bureau
NEW YORK-Agency brokerage UNX announced today, Oct. 15, that is now offering its suite of execution and algorithmic trading offerings as a service bureau, DWT has learned.