News

Bulge-bracket brokers must cooperate to thrive – Celent

Brokers are undergoing a “Darwinian evolution” as a result of demands from their buy-side clients and their own internal challenges stemming from the global financial crisis, according to a new report from Celent, a research and advisory firm.

Direct Edge launches Hide Not Slide order

US equities trading platform Direct Edge has introduced a new order type called Hide Not Slide, which allows traders to hide orders that were originally submitted as display-eligible and adjust their price while keeping their place in the order book queue.

LCH to launch buy-side OTC clearing service

LCH.Clearnet Ltd, the UK arm of European clearing house LCH.Clearnet, plans to offer its SwapClear over-the-counter (OTC) interest rate swap clearing service to the buy-side trading community in the second half of 2009.

Apama pushes into Eastern Europe, CIS and Middle East

Progress Apama, the algorithmic trading and complex event processing division of Progress Software, has unveiled plans to expand into central and eastern Europe (CIS), the Commonwealth of Independent States (CIS) and the Middle East with dedicated sales teams for the regions.

Universal CSA platform will address buy-side risk concerns

US-based commission management systems provider Cogent Consulting has said that its planned broker-backed commission sharing agreement (CSA) platform will help buy-side firms streamline their commission payments, while enabling them to continue spreading risk.

CESR clarifies dark pool stance

The Committee of European Securities Regulators (CESR) has clarified its role in the regulation of dark pools and has acknowledged the need for a European best bid and offer (EBBO) benchmark for the first time.