Progress Apama, the algorithmic trading division of Progress Software, has implemented its complex event processing (CEP) platform for equity execution at the Commonwealth Bank of Australia (CBA).
Oddo & Cie, a Paris-based independent agency brokerage, has implemented MarketPrizm, a trading infrastructure platform provided by Chi-X Global Technology (Chi-Tech), the technology services unit of trading venue operator Chi-X Global.
Chi-X Europe, the pan-European multilateral trading facility (MTF) owned by agency brokerage Instinet, has revealed its timeline for migrating to the uniform stock symbology agreed on by a group of European trading platforms.
The Depository Trust & Clearing Corporation (DTCC), the US’s central clearing provider, has appointed Daniel G. Faryniarz, a former Merrill Lynch executive with experience in fixed income and derivatives sales, to the newly-created position of managing director, market structure and industry relations.
Twelve percent of European buy-side traders have shifted equities order flow away from brokers’ sales-traders to more self-directed, low-touch execution methods such as direct market access, algorithms and non-displayed multilateral trading facilities, according to a new study from research and consulting firm TABB Group.
French broking house CA Cheuvreux is planning to finalise the roll-out of its Blink internal crossing engine for European equities by the end of Q2, following its launch at the beginning of this year.
The UK regime governing dealing commissions has helped cut commission rates, limited use of commissions to the purchase of execution and research services and encouraged greater separation in how these services are bought, the Financial Services Authority (FSA) said.
Agency broker and technology firm Investment Technology Group (ITG) has launched Raider, an execution algorithm for the US market that is designed to quickly seize opportunities in fast-moving markets.
European Multilateral Clearing Facility (EMCF), a pan-European central counterparty (CCP), owned by Fortis Bank Nederland and exchange group Nasdaq OMX, has reduced its fees by 40% for clearing UK securities.