Same day matching becomes compulsory in Canada on 1 April 2007

National Instrument 24-101, which commits all participants in the Canadian securities industry to same day trade matching, will become effective on 1 April 2007. However, the Canadian Capital Markets Association (CCMA) announced yesterday that exception reporting has been delayed until February 2008, instead of being introduced as planned in the fourth quarter of this year.

GL TRADE buys FNX Solutions

Paris-based trading and operations software firm GL TRADE, has acquired FNX SOLUTIONS, an American company that specialises in the management and processing of OTC products. The deal will be closed in the course of February 2007.

Hedge fund investors focused on Asia in 2007, Deutsche Bank survey finds

Interest in China strategies will be high in 2007, but Asian strategies in general are likely to attract assets this year, say investors polled by Deutsche Bank in its Fifth Annual Alternative Investment Survey. The survey was conducted during the second half of 2006.

OMS and execution management software firm Tora Trading Services opens Hong Kong office

Tora Trading Services, a provider of trade execution and order management systems for the Asian financial markets, has opened a Hong Kong office. The company says Tora Trading Services Limited (Hong Kong) was established to meet the growing demand for local support, sales and implementation expertise by its clients in the region.

Mellon offers OTC valuation service to institutional clients

Mellon Financial Corporation has introduced an independent, over-the-counter derivative (OTC) valuation service for a range of swaps and options to institutional clients. Mellon will provide these valuations through third-party vendors, at the direction of the institutions in question.