State Street buys electronic foreign exchange trading platform Currenex

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.

Wombat acquires Harco and promises clients enhanced market data management

Direct market data feed specialists Wombat Financial Software has acquired Harco Technology Ltd., a market data usage reporting and compliance technology firm. The price was not disclosed. The acquisition of Harco, which services over 70 trading floors worldwide with its Data Access and Reporting Tool (DART), is intended to enhance the Wombat offering by combing Harco’s reporting product line with the Wombat Entitlements System.

ASPOne sees opportunity in capturing trade data in the OTC markets

ASPone, the London-based trading, market data, connectivity systems developer and managed services supplier has launched a new initiative aimed at positioning the company to exploit the growth occurring in trade capture, trade routing and straight through processing (STP) within the over-the-counter (OTC) markets with capabilities for multi-asset classes and financial markets globally.

FlexTrade upgrades its portfolio trading optimization platform

Algorithmic execution management system vendor FlexTrade has developed a new version of its FlexPTS portfolio trade scheduler. The goal of the system is to enable users to determine the best trading trajectory for their portfolios while minimizing market-impact cost and the risk of underperforming benchmarks.

Nasdaq board criticizes London Stock Exchange for failing to engage with it

As the deadline for acceptance of its offer drew near, the Nasdaq Stock Market yesterday ticked off the London Stock Exchange (LSE) for failing to take its proposals seriously. In a response to LSE shareholders, Nasdaq said that the management of the exchange had "completely failed to engage" with its proposed merger plans, despite the fact the current Nasdaq offer was the best deal for shareholders.

Orc Software offers access to Pure Trading ATS in Canada

Orc Software, the Scandinavian trading technology firm in which Nordic stock exchange group OMX has a stake, is offering connectivity to Pure Trading in Canada, when the auction market in Canada for exchange listed securities opens on 9 March.