Neil Edelstein, who specializes in reference data and securities pricing services, has joined New York-based Jordan & Jordan’s Management Consulting Practice.
Jordan & Jordan says Edelstein's experience in addressing data quality, sourcing and distribution issues from the perspectives of both the vendor and the consumer will provide its clients with practical solutions to meet their security master file and reference data management challenges.
Royalblue, provider of Fidessa, a provider of multi-asset trading systems, market data and global connectivity solutions, has announced that Jefferies (Japan), Tokyo Branch, a member of US-based Jefferies Group, has gone live as its first client using a fully-hosted version of Fidessa's Japanese Trading Platform. Jefferies is a global investment bank and institutional securities firm.
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%.
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.
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 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 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.
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.
Royalblue, provider of Fidessa, has announced that Cornhill Asset Management, the specialist IPO & pre-IPO brokerage firm has gone live with Fidessa Workstation in its London office. Fidessa will supply Cornhill users with real-time UK equity and derivatives market data.
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.