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.
Royalblue, provider of Fidessa, has announced that Cornhill Asset Management, the specialist IPO & pre-IPO brokerage firm has gone live with Fidessa Workstation in its London office. Fidessa will supply Cornhill users with real-time UK equity and derivatives market data.
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.
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.
The New York Stock Exchange (NYSE) is planning a pilot programme to test the appetite among Internet users for stock exchange prices in real-time, according to a report in the Wall Street Journal on Friday.
Howard Edelstein, the former Radianz CEO injected into NYFIX by private equity firm Warburg Pincus to rejuvenate the electronic trading firm, has recruited a raft of former colleagues from Radianz, Omgeo and Thomson to help him. Warburg Pincus, where Edelstein was entrepreneur-in-residence, recently invested $75 million in NYFIX.
Brady, which provides software applications for metals and commodity trading, says revenues in 2006 were 10% higher than current market forecasts and that profit before tax will at least meet market expectations.
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 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.
Continuing its push to provide investors and traders with a single-source platform for research and trading, online broker AOS has launched an expanded suite of research tools, charts, news and fundamental data, available at aosbroker.com . This latest release includes an array of integrated research tools to help tr