FIX Protocol Limited, the standards body for securities messaging, has set out a proposal for the establishment of a governance body and the standards setting process that it says will be necessary to develop a European consolidated tape.
Tradeweb, a fixed income and derivatives markets provider, has electronically traded and cleared an interest rate swap in the US from one of its clients for the first time.
The London Stock Exchange has set its sights on challenging European derivatives giants Eurex and NYSE Liffe, starting with the launch of equity derivatives on its multilateral trading facility Turquoise in 2011.
Agency broker and technology provider ITG's Hedge Pro pairs trading algorithm has been rolled out via the firm's execution management system, Triton, with availability on major third party front-end systems expected to follow shortly.
Investment management firm BlackRock has expanded its iShares Exchange Traded Funds business with the announcement of senior appointments to its iShares Asia Ex-Japan capital markets team, and the launch of a new Asia research and investment advisory group for ETFs.
Eurex Clearing, the clearing operation of the Deutsche Börse Group, is to introduce a 50% reduction in its fixed clearing fee and expand the discount models for Xetra cash market transactions from 1 December 2010.
The latest release of the RealTick trading solutions suite has been designed to help traders tackle the fragmented market environment according to vendor Townsend Analytics.
Europe has been less direct in its approach to migrating over-the-counter derivatives onto exchange than the US – much to the frustration of some market participants – but harmonisation between the two regions is essential to ensure new rules can be enforced effectively.