Sell-Side Technology/News
DMA Gains Traction in Asia
HONG KONG—Adoption of direct market access (DMA) in Asia is being spurred on by market deregulation, bigger trade volumes and more sophisticated clients; however, current regulatory controls, wide spreads and illiquidity are some of the issues hindering…
Monday Morning Blues for Euronext.liffe
LONDON—Trading on Euronext.liffe derivatives markets ground to a halt just 21 seconds into the trading day last Monday morning, as the exchange operator was forced to shut down markets for more than four hours because of a technical issue with its market…
SunGard Focuses on Growth
COMO, ITALY—Innovation and transformation were the central themes of last week's SunGard Europa user conference.
Q-Wixx Tackles Trading of CDS Lists
LONDON—A new trading platform, dubbed Q-Wixx, was launched last week to ease trade execution for lists of single-name credit default swaps (CDSes), say vendor officials.
BT Rolls Out ITS Anywhere for Nortel
LONDON—Telecom vendors Nortel and BT have announced a collaboration to bring to market ITS Anywhere for Nortel that will enable investors' phone calls and communications to be monitored and accessed on or off the trading floor, say BT officials.
West Highland, CJC Ally For Global Support Services
NEW YORK—West Highland Support Services, a New York-based provider of remote system management and market data support services, is preparing to unveil an agreement with CJC, a London-based consultancy providing market data consulting, administration and…
HKEx Starts Final Network Migration
HONG KONG—The Hong Kong Exchanges and Clearing Ltd. (HKEx) has entered the final stages of its multi-year network consolidation project, as it will start moving batches of AMS/3 securities trading platform users to the exchange's new consolidated IP…
Instinet Launches Sidewinder Algorithm
NEW YORK—Agency broker Instinet has announced the addition of Sidewinder to its suite of algorithms, say firm officials.
CESR Releases Best Execution Guidance
PARIS—In order to clarify the best execution requirements under the E.U.'s Markets in Financial Instruments Directive (Mifid), the Committee of European Securities Regulators (CESR) published a question-and-answer (Q&A) document last week.
eSpeed to Acquire and Integrate BGC
NEW YORK—In a surprise move last week, electronic inter-dealer broker eSpeed announced that it plans to acquire Cantor Fitzgerald's brokerage arm BGC in an all-stock deal valued at $1.3 billion.
Turquoise Reveals Plans for Hybrid Model
LONDON—Markets in Financial Instruments Directive (Mifid)-inspired multilateral trading facility (MTF) Project Turquoise will offer a hybrid trading model—incorporating both displayed and non-displayed liquidity—once the bank-led consortium goes live…
BayernLB Rolls Out Etrali Turrets
German bank Bayerische Landesbank (BayernLB) has rolled out Etrali Mach 3D terminals from Orange Business Services, officials announced today. The new turrets replace dealerboards from turret provider IPC. Officials from IPC decline to comment
BEA Leaps Into Complex Event Processing
NEW YORK—To address Java’s shortcomings in complex event processing (CEP) environments, BEA Systems announced today the planned summer launch of its WebLogic Event Server (WLES) and version 2.0 of its WebLogic Real-Time (WLRT) platform.
FIX City to Launch Fixed-Income IOI
LONDON—Officials from FIX City, a provider of software for FIX-based indications of interest (IOI) announced last week plans to launch a multi-asset support for the vendor’s IOI platform Ioinet this summer.
Nasdaq Makes Tech Buy with OMX
NEW YORK—The Nasdaq Stock Market plans to acquire exchange operator and technology provider OMX Group in a deal valued at SEK25.1 billion ($3.7 billion) and re-brand the new entity Nasdaq OMX Group, officials from both exchanges announced on Friday.
CIB Taps Etrali for Shanghai Trading Floor
SHANGHAI—As part of a new dealing room deployment, China Industrial Bank (CIB) plans to roll out 70 Mach 3D turrets from Orange Business Services (OBS)–Trading Solutions, née Etrali, in early June, a vendor official tells DWT.
Panel: Derivatives Automation Wanting but Needed
LONDON—Although the derivatives industry has seen an upsurge in post-trade automation, it’s not enough to meet the current demand, say industry participants who spoke last week during a panel discussion on the topic hosted by GL Trade.
Panel: Latency Measurements Need Help
LONDON—Although cutting message latency remains a top priority for most firms, the industry still needs to address standard measurements and performance optimization in order to conqueror it, say exchange, market data and network provider officials