News

Chi-East, the joint dark pool initiative between trading platform operator Chi-X Global and the Singapore Exchange, has appointed Ned Phillips as its new chief executive officer.

Newedge, a global multi-asset brokerage, has become the first foreign company to be granted a full futures license in South Korea by the Korea Financial Services Commission, the country’s financial regulator.

Pipeline Trading Systems, a US institutional brokerage and operator of the Pipeline block trading system for US equities, has launched Munitions Manager, a trading tool for the buy-side that is designed to minimise implementation shortfall losses.

Several of Europe’s major stock exchanges have reported significant declines in equities trading volume and value for the full year of 2009 compared with 2008, but activity in exchange-traded funds bucked the general trend.

Euroclear, a provider of cross-border and domestic settlement services in Europe, has named Tim Howell as its new CEO, replacing outgoing chief Pierre Francotte.

Global technology provider SunGard has installed new market data distribution (MDD) servers for its GL Net market data and order routing network, which it claims will improve the performance of automated trading systems.

Pan-European multilateral trading facility Chi-X Europe has extended the pricing promotion it introduced last year for adding liquidity to its Chi-Delta dark pool.

SS&C Technologies, a financial services software company, has acquired Tradeware Global, a provider of broker-neutral electronic trading solutions for equities.

Asset management firm Schroder Investment Management has confirmed that Steve Wood, its global head of trading, is retiring from the firm in March this year.

Non-displayed trading venues are viewed as the most likely recipients of more stringent regulation this year, according to the results of December’s TRADE Poll.