Shares in NYSE Euronext, the holding company created by the merger of the New York Stock Exchange and European stock exchange Euronext, started trading today in Paris and New York under the ticker symbol NYX.
European exchange Equiduct has released the third in its series of white papers on MiFID. The latest paper, called “Market Transparency: Making Unfilled Orders Public”, has been written by Andrew Simpson, a management consultant who specialises in capital markets.
In 2006, 53% of institutional equities trades in the US were executed through direct market access (DMA), algorithms, programs or crossing networks and with steady growth in every electronic execution channel that percentage will increase to 64% by 2008, according to “Trading at Light Speed: Analyzing Low-Latency Infrastructure”, the latest research report from the TABB Group.
International Securities Exchange Holdings (ISE) has announced that David Krell, ISE's president and CEO, will retire on January 1, 2008. He will remain on ISE's board of directors and the board intends to elect Krell as its chairman, pending required approvals. Gary Katz, ISE's COO, will succeed Krell as president and CEO at that time. Katz will also join ISE's board of directors commensurate with his new position as CEO.
NYFIX, a provider of electronic trading solutions, has appointed Scott Bloom to the newly-created position of executive vice president, corporate development and chief administrative officer. In this new role, Bloom is responsible for the NYFIX legal department, as well as corporate development activities and people practices.
ACTIV Financial, a low-latency market data solutions provider, has introduced ActivFeed MPU (Market Data Processing Unit), a hardware-accelerated solution for low-latency exchange feed processing. ActivFeed MPU provides a scalable ticker plant solution that ACTIV Financial says will reduce systemic latency and deliver significant total cost of ownership (TCO) benefits to financial institutions processing direct exchange feeds.
Charles Schwab has come top of a survey of retail online brokerage firms conducted by research and advisory firm Aite Group. In a new report, Leaders of the Pack in Online Brokerage Capabilities, Aite Group compared retail online brokerage firms and ranks the top five based on participant responses.
Charles River Development, a provider of financial software and services to the global investment management community, yesterday announced that Eagle Investment Systems has become a member of its Partner Integration Certification Program. The certification is based largely upon the development of standardised interfaces between the Charles River Investment Management System (Charles River IMS) and Eagle PACE and Eagle STAR. The interface provides a bi-directional flow of reference and accounting data and enables the buy-side to simplify and reduce the total cost of post-trade operations for equity, fixed income and exchange-traded swaps. Through the collaborative certification program, the two organisations will continue to maintain and enhance the interfaces with such features as real-time, message-based updates.
BNY ConvergEx Group, a provider of agency brokerage and investment technology solutions, and Code Red, a provider of research management solutions provider, announced yesterday a strategic alliance to provide Jaywalk’s independent research reports through Code Red’s Red Alerts research management system (RMS) and their IdeaNet research distribution hub.
Telekurs says that Mellon Financial has bought its Valordata Feed as part of its enterprise-wide, global reference data infrastructure. Mellon, using subsidiary Eagle Investment Systems' (Eagle) data management application, will use the Valordata Feed (VDFTM) to integrate a broad range of securities reference data from VDF - including security descriptions, ID cross-reference and corporate actions/events - into Mellon's Eagle PACE solution.