News

Progress Apama partners with Microsoft to deliver MiFID solution

Progress Software, a supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, has announced that it has partnered with Microsoft to provide its Progress Apama Event Processing Platform as a key component of Microsoft's MiFID solution suite. The solution will enable financial institutions worldwide to meet European MiFID requirements that go into effect on 1 Novembver 2007, the firm says. The Apama platform will provide Complex Event Processing (CEP) and Business Activity Monitoring (BAM) capabilities, enabling firms to monitor and analyse their MiFID best execution compliance, as well as meet the reporting, reference data and trade history requirements.

Tenfore adds Indian stock exchanges to data distribution platform

Market data provider Tenfore Systems Ltd has added the National Stock Exchange of India and the Bombay Stock Exchange to its real-time data feed. The company says this is the first step in a major strategic project to enhance its Asian content and globalise its market data offering. As part of this initial phase, the company has also extended its contract with BT Radianz to provide exchange connectivity across all of Asia-Pacific and is utilising Radianz Proximity Solution to launch a new ticker plant in Tokyo.

Publication of MiFID handbook means FSA has met EU deadline

On Friday the Financial Services Authority (FSA) published a Policy Statement and Handbook that it says finalises its transposition of the Markets in Financial Instruments Directive (MiFID) for FSA-regulated firms and markets by the European Union deadline of 31 January 2007.

FT Interactive speeds up delivery of syndicated bank loan valuations

FT Interactive Dathas enhanced its bank loan pricing service. Access to independent valuations of syndicated bank loans will now be accompanied by automated delivery of refinancing, termination and substantial amendments to loans, as well as the effective date of the change. FT Interactive says that, due to the massive volume of loans in the marketplace, estimated to have reached $3.5 trillion in 2005, it can be challenging for firms to efficiently keep track of these events.

GL TRADE introduces direct connection to Instinet Chi-X ATS

Trading platforms vendor GL TRADE has introduced a direct connection to Instinet's Chi-X, the first pan-European equity alternative trading system (ATS), or multi-lateral trading facility (MTF) as it will be known once MiFID goes into effect in November 2007. Available immediately, traders can access Chi- X through any GL TRADE workstation.

SGX buys new data feed technology from OMX and Cicada

OMX and Singapore Exchange Limited (SGX) have signed an agreement to develop a new data feed system designed to enhance SGX's data dissemination services to market participants. The new data feed system is designed to enrich and package price data from multiple sources. With this system, SGX intends to be able to enable brokers and data vendors to provide comprehensive data to their customers.

Capitalia to start SwapsWire for equity derivatives

SwapsWire announced yesterday that Capitalia Spa is the first Italian bank using its system to automate OTC equity and interest rate derivative trade confirmations. Capitalia started confirming interest rate swaps trade electronically in August 2006 and went live with equity options on SwapsWire in December.