Broking firm Newedge has merged its Madrid operation with that of Altura, a Spanish futures and options brokerage set up in 2000 as a 50/50 joint venture between French broker Calyon Financial and Spanish banking group BBVA.
The TradeTech Europe conference, traditionally held in Paris, will move to London for 2010 – its 10th anniversary – in response to feedback from the buy-side, conference organiser Worldwide Business Research (WBR) has confirmed.
Europe’s sponsored access market has no shortage of suppliers, but demand for the service is being hampered by a lack of consistency on how it differs from standard direct market access and where responsibility lies for risk controls.
Clearing houses LCH.Clearnet Ltd and European Multilateral Clearing Facility (EMCF) have agreed to interoperate by 2 November this year, initially for UK and Swiss equity trades.
Europe’s broker-owned dark pools or crossing engines will be more open to toxic flow and less able to provide price improvement if they are forced to register as multilateral trading facilities (MTFs), brokers claim.
Global fund manager Standard Life Investments has implemented version 8.2 of technology provider Charles River Development’s Investment Management System (IMS) and will use the system to trade a wider range of asset classes.
Burgundy, a multilateral trading facility (MTF) for Nordic stocks, has decided to launch central counterparty (CCP) clearing on 9 October following a review of trading participants’ readiness to use the service.
Trading technology provider Portware has announced that it now fully supports FIX’s Algorithmic Trading Definition Language (FIXatdl), which allows brokers to specify electronically how their algorithms should be rendered and validated on third-party trading systems.
The Australian Securities Exchange (ASX) Group, the operator of the Australian Stock Exchange and the Sydney Futures Exchange, has launched a review of algorithmic trading on its platforms in a bid to weed out activity that could be detrimental to market participants overall.
European post-trade utilities LCH.Clearnet and Euroclear have said they will work together to reduce client costs through greater operational efficiencies between the firms’ respective cash securities clearing business and custody and settlement capabilities.