News

Turquoise, the multilateral trading facility (MTF) being set up by nine leading investment banks, has hired Ian Werner as head of legal and compliance.

Exchange group NYSE Euronext has launched Prime Source, an independent valuation service.

Financial software provider GL Trade has signed an exclusive deal to distribute fellow technology firm Nexfi’s Multi Asset Portfolio Management System internationally.

Agency broker and technology provider Investment Technology Group (ITG) has added POSIT Alert to its suite of crossing products in Europe.

Hong Kong Exchanges and Clearing Limited (HKEx) plans to upgrade the software for its derivative trading and clearing and settlement systems on 3 March 2008.

Shareholders in Nordic exchange group OMX have accepted Borse Dubai’s offer to buy 68.6% of OMX, bringing its total ownership to 97.6%. This in turn will allow Borse Dubai to sell OMX to US stock exchange group Nasdaq, which will form the Nasdaq OMX Group.

Thomson Financial, an information, news and technology provider, has launched Thomson PORTIA Settlements Solution, a complete end-to end platform that Thomson says allows institutional asset managers to execute a seamless process from trade execution and reconciliation to portfolio accounting and management.

Turquoise, the multi-lateral trading facility established by nine leading European investment banks, has chosen AppLabs, an independent testing, quality management and certification company, to check that Turquoise’s trading platform is fit for purpose.

NYSE Euronext has signed an agreement to acquire a 5% shareholding in the Multi Commodity Exchange (MCX), India’s leading commodity marketplace, subject to certain conditions.

Structural Wealth Management has selected Charles River Investment Management System (Charles River IMS) to consolidate its portfolio management, trading and compliance operations on one platform and support real-time electronic trading through FIX.