The volatile market conditions that caused higher trading costs and wider spreads in Q4 2008 did not result in a shift away from execution algorithms by Asia’s buy-side traders, according to Glen Gee, head of analytical products and research, Asia at agency broker ITG.
Former Lehman Brothers France CEO Xavier Rolet, who will take the helm of the London Stock Exchange from long-serving chief Clara Furse on 20 May, could be the shot in the arm the exchange needs to cope with its current challenges, according to market observers.
Chi-X Europe, the pan-European multilateral trading facility (MTF), has added to its management team in preparation for the venue’s next stage of expansion.
The London Stock Exchange (LSE) has named Xavier Rolet, former head of investment bank Lehman Brothers’ French operation, as its next CEO, replacing Clara Furse.
Barclays Capital, the investment banking arm of the UK’s Barclays Bank, said it plans to become a best-of-breed global multi-asset execution service provider following the acquisition of the North American assets of collapsed US bank Lehman Brothers.
InfoReach, a trading technology provider, is to have its InfoReach trade management system (TMS) distributed in the emerging markets by Marco Polo Network, an electronic trading platform.
IT firm Sungard’s acquisition of trading technology company GL TRADE will give European buy-side firms better access to Sungard’s trading product suite and allow Sungard’s US buy-side clients to tap brokers in Europe and Asia.
Software provider Progress Apama has predicted strengthening Brazilian demand for algorithmic trading solutions after unveiling its first client in the country, broker Ágora Corretora de Titulos e Valores Mobiliaro.