The International Securities Exchange announced yesterday that it set a new record daily trading volume of 5,531,875 equity and index options contracts on Tuesday, February 27, 2007. The previous record for contracts handling was 4,580,678, and was set on January 20, 2006.
Derivatives pricing software provider NumeriX yesterday announced a strategic partnership with ClusterSeven, a developer of enterprise spreadsheet management and control software. The combined technologies give customers the capability to quickly and accurately price and execute financial products without leaving Excel, the trader’s preferred technology tool.
BNY ConvergEx Group, a provider of agency brokerage and investment technology solutions, yesterday announced record new client numbers for its commission recapture business in 2006. Globally, 279 new clients entered into commission recapture programs with LJR Recapture Services, up from 217 in 2005, a 29% increase year-on-year. This number represents a record high for LJR Recapture Services since joining The Bank of New York’s affiliate BNY ConvergEx Group (formerly BNY Securities Group) in 2005.
Derivatives valuation experts SuperDerivatives have opened a sales and support office in Mumbai, together with a dedicated data centre, to support the company's expanding customer base in India. The new regional office and extended local team will provide sales, support training and professional services to SuperDerivatives users coming from both the private and public sectors.
SwapsWire has claimed record volumes in 2006. The electronic swap trading platform says that last year it confirmed more than one million trade events for the first time - more than double the number in 2005.
FXall today announced that it has gone live with Accelor, a foreign exchange ECN for professional market participants. It aims to combine the anonymity of ECN trading with an advanced technical architecture and comprehensive market data.
London-based fund manager Schroders has expanded its relationship with the UK-based fixed income and derivatives portfolio modelling software vendor CAfIT to include use of an "analytics engine."
F&C Asset Management selects Charles River Development to automate pan-European front-office investment management operations
Charles River Development (Charles River), a provider of financial software and services to the global investment management community, yesterday announced that London-based F&C Asset Management (F&C) has selected the Charles River Investment Management System (Charles River IMS) to support its front office equity, fixed income and derivative operations.
Electronic foreign exchange platform FXall has added benchmark fixings to its order management system, QuickOMS. This means that clients can now submit request-for-stream and benchmark orders through a order management window.
Foreign exchange continues to grow and adoption of electronic trading has been vigorous, according to Celent report
In a new report by Boston-based financial research and consulting firm Celent, it is estimated that the FX market could grow from close to US$3 trillion to US$4 trillion of daily turnover by 2009–2010, with 75% of the interdealer spot market volume and 50% of the dealer-to-client volume traded electronically.