Sell-Side Technology/News
144A Trading Platforms Gain Ground
NEW YORK—With the rise of the popularity of private placements, several banks and one exchange have launched, or are in the process of launching, electronic venues to trade securities under Rule 144A of the U.S. Securities Act.
Eurex to Launch Version 10.0
FRANKFURT—Derivative exchange Eurex plans to roll out version 10.0 of its exchange system on Nov. 26, exchange officials tell DWT .
GL Trade to Debut ASP-based MEFF Link
PARIS & MADRID—Trading software and services provider GL Trade expects to add Spanish derivatives exchange Mercado Español de Futuros Financieros (MEFF) to its pan-European application service provider (ASP) platform by the end of September, DWT has…
HKEx Preps Closing Auction
HONG KONG—Hong Kong Exchanges and Clearing Limited (HKEx) is preparing to implement an end-of-day closing session for all securities, with an aim to "improve the determination of securities closing prices, facilitate trading at market close and enhance…
NeoNet Preps Three Mifid Routers
NEW YORK—Global agency brokerage NeoNet Securities is developing three new synthetic order routers to satisfy a component detailed in the E.U.'s Markets in Financial Instruments Directive (Mifid), which calls for new order types, DWT has learned.
RTS Offers Singapore Exchange Gateway
SINGAPORE—The Singapore Exchange (SGX) announced an expanded cooperation with independent software vendor (ISV) RTS Realtime Systems Group, allowing RTS customers to access SGX through the vendor's multi-asset trading platform, Realtime Trading Desktop …
Inside BNP Paribas' Peak Performance
LONDON—On a serene London side street next to the Marylebone railway station sits BNP Paribas' U.K. headquarters. The building is a labyrinth of ceilings and stylish cladding, which nestle around a central atrium. Inside, Andrew Mullock, the London-based…
4th Story Adds HotSpot FX Support
SAN FRANCISCO—Algorithmic trading software vendor 4th Story has connected its multi-asset-class strategy trading platform 4S.Everglade to foreign exchange (FX) ECN HotSpot FXi, vendor officials announced last week.
Pabuk Halts HKEx Trading
Trading in the securities and derivatives markets on the Hong Kong Exchanges and Clearing Ltd. (HKEx) was terminated 15 minutes into its Friday-afternoon session after the Hong Kong Observatory, the local government-owned meteorological center, issued a…
Turquoise to Go X-Stream
LONDON—Multilateral trading facility (MTF) Project Turquoise is in the midst of hammering out a contract with Swedish exchange operator and technology vendor OMX Group, which will provide the bank-led consortium with its X-Stream trading platform, says a…
Fidessa Adds Morgan Stanley to EMS
LONDON—Order management system (OMS) and market data provider Fidessa announced today, Aug. 13, an agreement to distribute Morgan Stanley's electronic trading services through its new Fidessa LatentZero execution management system (EMS).
SocGen Targets U.S. Traders
Hometown audiences can be some of the toughest crowds to please. That has not stopped Société Générale's New York-based John Shaw, the newly minted leader of the bank's program and electronic trading services business in the U.S. DWT editor Rob Daly sits…
UBS Rolls Out Algo Strategy for Commodities
LONDON—UBS Investment Bank has launched its UBS Commodities Portfolio Algorithmic Strategy System (Comm-Pass), a portfolio-based algorithmic strategy that exploits momentum in the commodity markets to generate returns through automated long and short…
Nasdaq Preps 144A Trading Portal
NEW YORK—After receiving approval from the U.S. Securities and Exchange Commission (SEC), the Nasdaq Stock Market announced last week plans to launch a new online negotiating and trading venue for Rule 144A securities, dubbed Portal, on Aug. 15, say…
Paper: Japan to See IT Spending Spike
TOKYO—Japan's economic recovery is spurring renewed IT investment in the country's securities industry, with firms expected to increase their IT spending by 7.5 percent—or $2.8 billion—by the fiscal year ending March 2008, concludes a recently published…
Insinger Taps Fidessa for Derivatives
LONDON—Anglo-Dutch bank Insinger de Beaufort will be replacing its legacy third-party derivatives trading platform with a multi-asset trading system from London-based trading system vendor Fidessa, DWT has learned.
Orc Software Debuts Hosted Algorithms
NEW YORK—Swedish trading platform vendor Orc Software has launched Orc Liquidator Hosted, an exchange co-located, fully hosted algorithmic trading solution, which aids in the quick deployment of derivatives trading algorithms while providing low-latency…
NYSE Euronext Slashes Messaging Latency
NEW YORK—Over the past year, the New York Stock Exchange (NYSE) has cut average trade messaging latency in half, say NYSE Euronext officials.