Operations & Technology

March 05, 2007

BNY ConvergEx claims commission recapture business is still booming

BNY ConvergEx Group last week countered the notion that commission recapture was dying by announcing record new client numbers for its commission recapture business in 2006. Globally, says the firm, 279 new clients entered into commission recapture programmes with LJR Recapture Services, up from 217 in 2005, a 29% increase, year- over-year.

March 05, 2007

BT Radianz supplies Korean broker Goodmorning Shinhan with FIX connectivity to international buy-side

BT says Korean brokerage firm Goodmorning Shinhan (GMSH) is using its network services to offer FIX-based trading services to its buy-side clients and trading partners in Asia, the US and Europe. Goodmorning Shinhan signed an agreement with BT South Korea to use the BT Radianz shared market infrastructure. International buy-side institutions that want to trade in the Korean equity and derivatives markets must use a local broker who is a member of KRX. Now BT Radianz clients who are trading the KOSPI (Korea Composite StockPrice Index) and in the Korean securities and derivatives markets will be able to connect directly to GMSH.

March 05, 2007

Omgeo matching service to help Canadian securities industry settle on T + 1

Omgeo is making its Omgeo Central Trade Manager (Omgeo CTM) matching engine available to Canadian fund managers wanting to match both domestic and cross-border trades in Canadian securities through a single interface. The Canadian securities industry is planning a switch to settlement on T + 1.

February 28, 2007

GL TRADE to offer real-time aggregation of market data for MiFID and link this to execution

GL TRADE, a provider of integrated multi-market software solutions for financial institutions, has decided to offer, free of charge, market data collection services to all institutions seeking to publish prices within the framework of MiFID for the deregulation of listing and order execution for financial instruments. GL TRADE is thus positioning itself as a key player in data aggregation.

February 28, 2007

Thomson Financial signs global agreement with BT Radianz

Thomson Financial, an operating unit of The Thomson Corporation and provider of information and technology solutions to the worldwide financial community, announced yesterday that BT Radianz, a provider of financial services connectivity, will provide network services for the new low-latency Thomson Data Feed (TDF). BT Radianz will provide connectivity for TDF, giving clients access to exchanges available in low latency, as well as Thomson Financial’s (TF) universe of real-time content. TF announced last week that they would embed Wombat Financial Software's low-latency technology with real-time TDF.

February 26, 2007

Scottish fund manager Alliance Trust to use SimCorp Dimension as OMS

Dundee-based fund management group Alliance Trust has bought the front-office modules of the Simcorp Dimension investment management system from Danish IT group SimCorp. Alliance Trust will use the Simcorp technology in both Dundee and Hong Kong for portfolio management and modelling, trade order management and performance attribution.

February 26, 2007

JPMorgan Cazenove subscribes to issuer database from Perfect Information

Financial data provider Perfect Information says that it has signed a three year deal with JPMorgan Cazenove to supply the investment bank with PI Filings, Perfect Information’s database of over seven million company filings. Perfect Information has been supplying JPMorgan Cazenove with  financial information for over twelve years and the bank has chosen to renew its subscription to PI Filings. The database has been deployed across all desktops in JPMorgan Cazenove’s European Corporate Finance departments.

February 23, 2007

Interactive Data unveils new branding initiative

Interactive Data Corporation, a leading provider of financial market data, analytics and related offerings, yesterday announced a branding initiative that includes the renaming of its three institutionally oriented businesses.

February 22, 2007

Standard & Poor’s securities identifier product ISIDPlus expands data universe(2)

Standard & Poor’s, a provider of financial market intelligence, announced yesterday that ISIDPlus, a cross-reference securities identifier service favored by asset managers, has expanded its data universe to include more than one million issues globally. ISIDPlus’ data expansion will enable financial institutions to increase their coverage of financial instruments and corresponding information, providing complete and transparent insight into financial data for more informed decision-making, according to Standard & Poor's.

February 21, 2007

Mexican broker Finamex buys algorithmic trading technology from Progress Apama

Software vendor Progress Software says Mexican broker-dealer Casa de Bolsa Finamex (Finamex) has bought its trading platform to provide algorithmic trading capabilities to its buy-side customers. Progress says the Apama algorithmic trading platform aims to help firms analyse, evaluate and respond to complex market events in real time.