Sell-Side Technology/News
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…
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 .
Liffe Preps Liffe Connect Upgrade
LONDON—European derivatives exchange Liffe, formerly Euronext.liffe, plans to release new versions of its electronic trading platform, Liffe Connect, by the end of this year, DWT has learned.
FSA Mulls MTF Oversight
LONDON—Prodded into action by Her Majesty's Treasury (HMT) proposing a modernization of its Stamp Duty relief policy in February, the U.K.'s Financial Services Authority (FSA) released a discussion paper investigating possible strategies for the…
TSX Slaps Pure Trading with Copyright Lawsuit
TORONTO—The Toronto Stock Exchange (TSX) filed a C$101 million ($96.3 million) copyright infringement suit in the Superior Court of Justice in Ontario last month against Pure Trading and its parent company, Canadian Trading and Quotation System (CNQ)…
Report: 25K New Trading Positions by 2010
TAUNTON, U.K.—The global need for new traders will rise by 7 percent, to approximately 25,000 new trading positions, according to a white paper recently published by industry research firm Kimsey Consulting.
BNP Buys Into Turquoise
French banking giant BNP Paribas announced that it has taken a 3 percent stake in the multilateral trading facility (MTF) known as Project Turquoise, various media outlets were reporting at press time.
Yes Bank Rolls Out RTFX for FX Pricing
MUMBAI—As part of a wider foreign-exchange (FX) initiative, Mumbai-based private sector bank Yes Bank has deployed bank-to-client FX trading service Reuters Trading for Foreign Exchange (RTFX) to distribute prices, bank officials tell DWT .
OMX Set to Win Turquoise Contract
LONDON—Nordic stock exchange operator and technology provider OMX Group is in advanced negotiations to become the sole technology provider to the Markets in Financial Instruments Directive (Mifid)-inspired multilateral trading facility (MTF) Project…
LSE, Borsa Italiana to Use TradElect
LONDON & MILAN—Officials from the London Stock Exchange (LSE) and Borsa Italiana announced last week that both bourses plan to standardize on the LSE’s TradElect trading platform after the two exchanges merge.
Euronext.liffe to Launch Stirs Algo
LONDON—European derivatives exchange Euronext.liffe plans to debut a new trade matching algorithm for its short-term interest rate (Stirs) futures contracts on Aug. 20, exchange officials say.
Swift to Revamp Global Network
NEW YORK—The Society for Worldwide Interbank Financial Telecommunication (Swift) is preparing a global upgrade of its network infrastructure, which will include a new redundant operations center located somewhere in Europe, Swift officials tell DWT .