State Street has bought Currenex, the online foreign exchange trading platform used by currency traders, including banks and hedge funds. State Street has $564 million in cash - which observers see as a handsome price - but says the purchase will accelerate its growing participation in the electronic foreign exchange trading market.
Electronic trading systems vendor Trayport says Trianel European Energy Trading GmbH, which provides energy procurement and marketing services, as well as energy and emissions trading, has its GlobalVision Trading Gateway system.
Direct market data feed specialists Wombat Financial Software has acquired Harco Technology Ltd., a market data usage reporting and compliance technology firm. The price was not disclosed. The acquisition of Harco, which services over 70 trading floors worldwide with its Data Access and Reporting Tool (DART), is intended to enhance the Wombat offering by combing Harco’s reporting product line with the Wombat Entitlements System.
ASPone, the London-based trading, market data, connectivity systems developer and managed services supplier has launched a new initiative aimed at positioning the company to exploit the growth occurring in trade capture, trade routing and straight through processing (STP) within the over-the-counter (OTC) markets with capabilities for multi-asset classes and financial markets globally.
Algorithmic execution management system vendor FlexTrade has developed a new version of its FlexPTS portfolio trade scheduler. The goal of the system is to enable users to determine the best trading trajectory for their portfolios while minimizing market-impact cost and the risk of underperforming benchmarks.
MiFID will bring to the surface over 100 million additional trades annually in the three largest EU jurisdictions of France, Germany, and the UK, according to a new report on the directive by consultants Celent. Spending will increase as well, but at a slower rate, from €38 million a year to nearly €50 million.
Advanced Financial Applications (AFA) is adding an options trading capability to its IMPACT Pro platform. Phase I offers clients options trading capabilities, and is available now. Phase II, likely to be release at the end of the first quarter, will include analytics functionality
As the deadline for acceptance of its offer drew near, the Nasdaq Stock Market yesterday ticked off the London Stock Exchange (LSE) for failing to take its proposals seriously. In a response to LSE shareholders, Nasdaq said that the management of the exchange had "completely failed to engage" with its proposed merger plans, despite the fact the current Nasdaq offer was the best deal for shareholders.
Orc Software, the Scandinavian trading technology firm in which Nordic stock exchange group OMX has a stake, is offering connectivity to Pure Trading in Canada, when the auction market in Canada for exchange listed securities opens on 9 March.
FT Interactive Data has made improvements to its syndicated bank loan pricing service. Users will now get terms of refinancing, termination and substantial amendments to loans, as well as the effective date of the change.