The Board of the London Stock Exchange Group plc yesterday published its formal rejection of Nasdaq's final order. The Board rejected the offer because its members felt it substantially undervalued the Exchange. "The transatlantic deal between the New York Stock Exchange and Euronext has meant that Nasdaq is under pr
FutureTrade, a provider of integrated electronic equity, option and algorithmic trading services, announced the release of its Version 4.0 trading platform yesterday. Version 4.0 includes direct access to international equity markets and improved integration of equity and options trading facilities. "Our clients have
The International Securities Exchange (ISE) announced yesterday that the launch of its fully displayed stock market on Friday, December 8, was successful. The ISE Stock Exchange is a completely automated market place that offers high-speed order execution capabilities, neutral access rules and integrated access to bot
The take-up of electronic trading in global fixed income markets accelerated sharply in 2006, according to the annual Securities Industry & Financial Markets Association (Sifma) survey. The data revealed that 74% of operators of electronic trading systems for fixed income securities witnessed an increase in trading v
New York-based Global Electronic Markets (GEM) has licensed the trade comparison component fof its FpML Mediator software to T-Zero, the credit derivatives trade affirmation platform. The integration of the software will enable T-Zero's buy-side clients to perform trading activities such as assignments and early term
Hennessee Group says the hedge fund index it maintains was up 1.84% in November, and 10.06% in the year to date, which kept it ahead of the Dow Jones Industrial Average, which was up 1.17% (+14.04% YTD), and the NASDAQ Composite Index, which climbed 2.75% (+10.26% YTD). Bonds also gained in November, as the Lehman Bro
The Managed Funds Association (MFA), the trade association for US hedge funds, has pledged its support for the recommendations on equity derivatives practices set out by a group of 17 US broker dealers in a letter of 21 November to the Federal Reserve Bank of New York and other US securities and derivatives markets re
Markit Group, which provides OTC derivatives valuation and trade processing services, has extended its pricing service to loan credit default swaps (LCDS). Markit says LCDS was launched in response to strong interest in the nascent LCDS market from dealers and institutional investors wishing to take synthetic exposur
Euroclear has bought the UK mutual fund order routing network EMXCo. The Brussels-based ICSD, which also owns the UK CSD (CRESTCo) says that by combining mutual fund order routing with settlement services it can shave 50% off fund manager costs, primarily through the elimination of manual processing, especially in set
The take-up of electronic trading in global fixed income markets accelerated sharply in 2006, according to the annual Securities Industry & Financial Markets Association (Sifma) survey. The data, which was compiled from more than sixty operators of electronic trading systems for fixed-income securities in the US, Eur