FIX CITY, a provider of software for FIX solutions, yesterday announced it will be partnering with Portware, a provider of execution and order management technology. The partnership will deliver an integrated Indication-of-Interest (IOI) distribution and trading tool to Portware's buy-side clients. It links FIX CITY's ioinet solution and Portware's execution management system (EMS), providing buy-side firms with access to pre-trade decision support and the ability to receive IOIs directly into their order blotters.
CB.Net, an international data solutions company dedicated to the delivery of payment reference data, yesterday announced the appointment of Tim Boyce as chairman. Boyce, who has held a string of high-profile City roles, will oversee CB.Net's business operations and build on its reputation as an innovative provider of outsourced reference data.
According to a recent survey conducted by Financial Insights, an IDC company, and sponsored by Bank of America, algorithmic trading has become a standard practice within the securities industry with 72% of investment managers responding that they use algorithms, up from 67% in 2005.
FlexTrade Systems, a provider of multi-asset algorithmic execution management systems, yesterday announced that its clients now have direct access to NYSE Arca Options through FlexOPT, its algorithmic options trading and risk management solution that enables users to minimise market impact, transaction costs, and risk exposure.
LatentZero, a provider of front-office systems for the buy-side, yesterday announced the launch of an integrated order management and execution management system. Capstone Minerva, the company's OMS, now has an integrated EMS trading module designed for asset managers. The new system means that buy-side traders no longer need to stage orders to third-party EMSs, manage orders in two or more separate systems, or be hampered by inefficient, error-prone workflow, the firm says.
royalblue, provider of Fidessa, yesterday announced that Goldman Sachs has selected Fidessa as an additional distribution platform for buy-side listed derivatives flow. Fidessa's global connectivity network provides a highly resilient solution for routing buy-side order flow to broker destinations. Through Fidessa's network, users will now have the capability to route listed derivatives, cash equities and algorithmic orders, across 60 exchanges and 23 countries, to Goldman Sachs.
The derivatives exchange Eurex will be launching derivatives on Russian underlyings denominated in US dollars as of 23 April 2007, the firm has announced. This will enable investors to trade emerging markets derivatives on the Eurex platform for the first time. The derivatives will be traded in US dollars, another first at Eurex.
The Euroclear group of national and international central securities depositories (CSDs) says 2006 surpassed all previous performance records across all business activities, at the operational level.
Hedge fund advisors Hennessee Group say that the Hennessee Hedge Fund Index advanced +1.48% in January, while the S&P 500 advanced +1.41%, the Dow Jones Industrial Average rose +1.27%, and the NASDAQ Composite Index climbed +2.01%. Bonds were again the laggard in January, as the Lehman Brothers Intermediate Government Corporate Bond Index advanced +0.04%.