TABB Group in its newest research note, "Liquidity Management: Pushing Automated Trading Beyond Agency Brokerage," projects that over the next five years equity internalisation rates will shift with the amount of flow matched in dark books increasing. This will be caused by Reg NMS in the U.S. and MiFID in Europe, which will make it more challenging and risky to execute equities using more traditional internalisation techniques including block trading and capital commitment.
"Over the last two years we've observed that there is a great need for an electronic platform that supports the trading of large blocks of foreign exchange (FX)," says Vijay Kedia, president and CEO, FlexTrade. FX-trading is still conducted over the telephone, which makes it prone to information leakage, says Kedia. "
Swiss Stock Exchange Services (SWX Group) and Deutsche Borse today combined their trading facilities in structured products. The supervisory board of Deutsche Borse and the federal cartel office (Bundeskartellamt) have given their approval for the partnership to go ahead. Contrary to previous announcements, the new c
The Moscow Interbank Currency Exchange (MICEX) and Deutsche Börse have signed a co-operation agreement. The two parties have agreed to provide what they call "a framework to internationalize the German and Russian financial markets with a view to attract additional investments in Russian companies."
Progress Software, a provider of application infrastructure software to develop, deploy, integrate and manage business applications, has released the Progress Apama 3.0 platform. The platform enables organisations to transform event data into real-time business intelligence in applications for algorithmic trading appl
The Technical Advisory Committee of the IBEX Indices has decided to incorporate Bolsas y Mercados Españoles (BME) into the IBEX MEDIUM CAP Index with effect from 2 January, in accordance with the Technical Regulations for the Composition and Calculation of the IBEX Indices.
Software vendor RTS Realtime Systems Group says it now offers accelerated access to Eurex’s recently upgraded market data feed, giving users what it calls a "serious first to market advantage." Recognizing the near fourfold increase in Algorithmic trading over the last three years and the wider d
Handelsbanken Capital Markets, a Nordic investment bank, is to provide agency broker NeoNet with a full-service electronic direct market access (DMA) trading solution. NeoNet will deliver NeoNet XG, a hosted system and software service for electronic securities trading. With the NeoNet XG service, the agency broker takes on responsibility for software, hardware, infrastructure, operation and surveillance. In addition to providing software services, NeoNet will handle the administration of back-office services forming a full-service solution for DMA trading. The platform fulfills regulatory requirements for Europe and the US.
National Depository Centre (NDC), the CSD that services the MICEX trading platform in Russia, is raising the valuation ceiling on securities transferable across the bridge between its own systems and the Depository Clearing Corporation (DCC), the CSD that services the RTS trading platform, from US$15 million to US
Refco finally fell into Chapter 11 yesterday. The Chapter 11 of Refco and its subsidiaries - including Refco Capital Markets, Ltd. and Refco F/X Associates LLC - became effective yesterday. The Chapter 11 plan had been confirmed by the US Bankruptcy Court in New York on 15 December. The effective date of the plan