News

Rosenblatt Securities expands floor team

Rosenblatt Securities announced it has hired Joseph A. Sangimino, Robert J. DeGaetano, Salvatore D. Aquino and Anthony Castelli, formerly of Joseph A. Sangimino, Inc., to join its existing floor team.

Euroclear selects BT to provide secure messaging service

Euroclear has selected BT as one of its providers of secure messaging services to facilitate two-way client communication through its new Common Communication Interface (CCI). Commencing in 2008, the CCI will serve as the sole interface for Euroclear group clients to access all services offered by each Euroclear operating entity. It is an integral part of Euroclear's goal to reduce settlement costs by consolidating five processing platforms into one.

TSX and ISE to invest C$25 million in a new Canadian derivatives exchange called DEX

The Toronto Stock Exchange (TSX Group) and the International Securities Exchange (ISE) are to create a new derivatives exchange called DEX. It will be launched in March 2009. DEX will be owned 52% by TSX Group and 48% by ISE and will list and trade options, futures and options on futures on a range of Canadian securities. DEX will pair TSX's position as the leading Canadian market for Canadian securities together with ISE's superior derivatives trading platform, including OMX's trade match engine and ISE's complementary suite of technology. With a distinct order book and trading rules, TSX says DEX will complement its other exchanges to provide investors with a full set of trading products and strategies.

Risk management in portfolio management systems inadequate, NET2S survey finds

A survey carried out by NET2S, a consultancy specialising in capital markets technology, highlights a significant shortfall in adequate risk management in the portfolio management systems (PMS) vendor space. 56% of vendors fail to provide any form of risk management at all. Of those who do, only one third offer enough analytics and stress testing capabilities to be considered 'adequate' by NET2S.

New foreign exchange margin trading platform launched by GAIN Capital Group

Buy-side foreign exchange trading services provider GAIN Capital Group has launched a new version of its margin trading platform, FOREXTrader for Windows. Following a successful beta test with select clients, the platform is now available at no charge to GAIN Capital Group clients around the world. It can be accessed via GAIN Capital (www.gaincapital.com), GAIN's service for professional traders, and FOREX.com (www.forex.com), GAIN's retail division for self-directed individual investors.

StreamBase launches MiFID and algorithmic trading solutions

StreamBase Systems, a Complex Event Processing (CEP) provider, yesterday launched two new solutions focussed on MiFID and algorithmic trading to meet the requirements of regulatory complexity and soaring market volumes in Europe. The solutions are the firm's response to growing customer demands and the increased investment by the financial services industry in specialised CEP.

Michael Frank succeeds Jan de Groot as Telekurs chief in the Netherlands

Michael Frank is to head Telekurs (Nederland) BV from 1 April 2007. He will continue as Managing Director of Telekurs (Deutschland) GmbH and of the Austrian branch office in Vienna. Michael Frank takes over from Jan de Groot, who is retiring on 31 March 2007. Jan de Groot has worked at Telekurs (Nederland) BV for 20 years. From the late 1980s, he was instrumental in establishing and developing this branch, and has been its Managing Director for more than half of the past two decades.