The parent of the New York Mercantile Exchange has ditched plans to operate a trading floor in London. Open outcry trading in London "never took off the way that we hoped," a Nymex spokeswoman explain
Market data provider Tenfore Systems Ltd has added the National Stock Exchange of India and the Bombay Stock Exchange to its real-time data feed. The company says this is the first step in a major strategic project to enhance its Asian content and globalise its market data offering. As part of this initial phase, the company has also extended its contract with BT Radianz to provide exchange connectivity across all of Asia-Pacific and is utilising Radianz Proximity Solution to launch a new ticker plant in Tokyo.
On Friday the Financial Services Authority (FSA) published a Policy Statement and Handbook that it says finalises its transposition of the Markets in Financial Instruments Directive (MiFID) for FSA-regulated firms and markets by the European Union deadline of 31 January 2007.
FT Interactive Dathas enhanced its bank loan pricing service. Access to independent valuations of syndicated bank loans will now be accompanied by automated delivery of refinancing, termination and substantial amendments to loans, as well as the effective date of the change. FT Interactive says that, due to the massive volume of loans in the marketplace, estimated to have reached $3.5 trillion in 2005, it can be challenging for firms to efficiently keep track of these events.
Trading platforms vendor GL TRADE has introduced a direct connection to Instinet's Chi-X, the first pan-European equity alternative trading system (ATS), or multi-lateral trading facility (MTF) as it will be known once MiFID goes into effect in November 2007. Available immediately, traders can access Chi- X through any GL TRADE workstation.
OMX and Singapore Exchange Limited (SGX) have signed an agreement to develop a new data feed system designed to enhance SGX's data dissemination services to market participants. The new data feed system is designed to enrich and package price data from multiple sources. With this system, SGX intends to be able to enable brokers and data vendors to provide comprehensive data to their customers.
Yipes and Nasdaq to offer market data access and trading through Yipes' Innovative FinancialConnect! Platform
Yipes Enterprise Services, a provider of managed, end-to-end ethernet solutions for enterprise customers, today announced an agreement to offer market data access and trading capabilities through the Yipes FinancialConnect! platform, making the Yipes network the first ethernet-based extranet used by the exchange.
SwapsWire announced yesterday that Capitalia Spa is the first Italian bank using its system to automate OTC equity and interest rate derivative trade confirmations. Capitalia started confirming interest rate swaps trade electronically in August 2006 and went live with equity options on SwapsWire in December.
FutureTrade, a provider of electronic equity and option execution services, yesterday announced a strategic partnership with Jefferies, an investment bank and institutional securities firm, in which FutureTrade's electronic trade execution management system (EMS) will be offered to Jefferies' electronic trading, algorithmic and prime brokerage customers. FutureTrade's platform will serve as a trading front-end for Jefferies' Electronic Trading Solutions (JETS) product and Quantitative Execution Strategy (QES) algorithms.
State Street has bought Currenex, the online foreign exchange trading platform used by currency traders, including banks and hedge funds. State Street has $564 million in cash - which observers see as a handsome price - but says the purchase will accelerate its growing participation in the electronic foreign exchange trading market.