News

FutureTrade posts record results in 2006

FutureTrade, a provider of multi-asset and algorithmic trading services, has announced that it has achieved record revenues and volumes in 2006, continuing a 4-year trend. The firm's US equities trading volumes grew by 25%.

Best Execution only on the agenda of three European buy-side firms out of four, new Edhec-Risk Advisory study finds

In an HSBC-sponsored study, Edhec-Risk Advisory questioned 127 buy-side firms about their level of preparedness for MiFID's Article 21, which stipulates that firms must prove compliance with a Best Execution strategy. 26 responses to Edhec's questionnaire were provided by hedge fund managers while 101 responses came from traditional asset management firms.

New features of Relegance Connect allow users to identify lateral trading opportunities

Credit Suisse and Relegence, a real-time search and news engine for the global financial services industry, have enhanced their joint venture product, Relegence Connect. The product now provides quantitative metrics, enabling users to identify investment opportunities in a real-time environment within organisations and industries.

Euroclear and The Clearing Corporation of India formalise cooperation

Euroclear and The Clearing Corporation of India Limited (CCIL) have signed a memorandum of understanding regarding post-trade processing collaboration. Both companies have penned a non-binding agreement to explore the possibility of closer ties, aimed at building and nurturing a long-term, cooperative relationship.

Trading Technologies licenses patents for MD Trader Technology to Knight Capital Group subsidiary

Trading Technologies International (TT) has announced that Direct Trading Institutional (DTI), a subsidiary of Knight Capital Group, has licensed TT's MD Trader patents. The license allows DTI to use TT's MD Trader technology in Knight Direct, its multi-asset class direct market access platform. In addition, futures orders from Knight Direct will be routed through TT's exchange gateways via TT FIX Adapter.

Same day matching becomes compulsory in Canada on 1 April 2007

National Instrument 24-101, which commits all participants in the Canadian securities industry to same day trade matching, will become effective on 1 April 2007. However, the Canadian Capital Markets Association (CCMA) announced yesterday that exception reporting has been delayed until February 2008, instead of being introduced as planned in the fourth quarter of this year.

GL TRADE buys FNX Solutions

Paris-based trading and operations software firm GL TRADE, has acquired FNX SOLUTIONS, an American company that specialises in the management and processing of OTC products. The deal will be closed in the course of February 2007.

Hedge fund investors focused on Asia in 2007, Deutsche Bank survey finds

Interest in China strategies will be high in 2007, but Asian strategies in general are likely to attract assets this year, say investors polled by Deutsche Bank in its Fifth Annual Alternative Investment Survey. The survey was conducted during the second half of 2006.