A reduction in the capital allocated by institutional investors for commission payments in Asia is putting put pressure on smaller sell-side firms operating in the region and will lead to frozen broker lists in 2011.
Singapore Exchange will be introducing pre-trade risk controls for buy-side firms and high-frequency traders that use its derivatives market by the third quarter of 2011.
Thai broker United Securities has joined technology vendor Fidessa's connectivity network, enabling Fidessa's users to route direct market access order flow to the Stock Exchange of Thailand.
The true cost of the Volcker rule to brokers and their buy-side clients still hinges on where regulators draw the line between market making and proprietary trading, following the publication of implementation guidelines by the Financial Stability Oversight Board last week.
Trading technology provider UNX is partnering with investment services firm International Class Actions Management to integrate ICAM's securities data and research services into the UNX Catalyst execution management system.
Agency broker Instinet has begun the regulatory filing process for launching a dark alternative trading system in Canada, in addition to enhancing its electronic execution offering in the country.
The Securities and Exchange Commission has fined Bank of America Merrill Lynch US$10 million for misusing customer order information for its own proprietary trading operations and charging clients undisclosed trading fees.
Clearstream, the international central securities depository owned by Deutsche Börse, has teamed up with Brazilian financial services firm, Itaú Unibanco, to facilitate settlement in the Brazilian market for international investors.
Trading technology provider Rapid Addition is offering its FIX Cloud service through the London Stock Exchange's FIX Gateway, allowing buy-side firms to access counterparties, using the FIX messaging protocol, in different locations across the world.