Agency broker Instinet has added Fidelity Capital Markets Services's CrossStream "dark" liquidity pool to its Nighthawk liquidity aggregation algorithm.
This means Instinet clients can potentially interact with Fidelity's aggregated retail and institutional order flow that is posted in CrossStream. Fidelity CrossStream joins Credit Suisse's CrossFinder, Pipeline, Liquidnet H20 and NYFIX Millennium as the "dark" pools available through Nighthawk.
Kansas City-based ECN BATS Trading has launched an aggressive pricing plan for the month of January 2007 in an effort to attract more volume. It will temporarily invert the conventional pricing model by paying liquidity providers rebates higher than the fee charged to liquidity takers.
OTC derivative valuations vendor SuperDerivatives says that Grant Thornton Greece has licensed a comprehensive set of its tools, including all of its option pricing and analytics platforms. It will serve as the basis for the firm's audit work surrounding IAS39, IFRS 7and UCITS III and in preparation for the MiFID regulations.
Interwoven, the owner of the Scrittura messaging technology that enables buy and sell-side clients to communicate details of OTC derivative transactions without manual processing, says its clients will now be among the first to have access to the full range of post-trade processing services provided by the Depository Trust & Clearing Corporation (DTCC) through the Deriv/SERV Trade Information Warehouse the American CSD unveiled last month.
Software vendor GL TRADE has decided not to renew its agreement with Fermat, by which Ubitrade GmbH has distributed the Fermat risk management products in Germany, Austria and the Netherlands since February 2001. Ubitrade is being ceded to the Fermat Group from 2 January 2007.
World initial public offering (IPO) activity hit a record high in 2006 with $227 billion raised on 1,559 offerings between January and November, up $167 billion on all of 2005, according to a study by Ernst & Young. The centre for IPO activity was the Hong Kong Stock Exchange with 17 per cent of all IPOs, followed by
Stockholm-based trading technology vendor Orc Software has released new versions of its Orc Trader and Orc Liquidator applications. Orc says releases 6.1 include new volatility API and models, new market connections, transaction analytics and reporting, and click trading enhancements, as well as further improvements designed to facilitate Direct Market Access (DMA).
The London Stock Exchange (LSE) is to raise its dividend by 50 per cent on last year, as it continues to fight off a takeover bid from Nasdaq. The LSE board yesterday dismissed the Nasdaq bid as "wholly inadequate" and as "substantially" undervaluing the Exchange by ignoring its strong strategic position, earnings a
With hedge funds generating a growing share of trading volumes in many fixed-income products - and a majority of the volume in several especially lucrative products - global and European investment banks are concentrating their efforts on these increasingly profitable customers. Or so suggests a new study of fixed in
Self-styled foreign exchange aggregator Currenex has bought the TradePVR network appliance application for FIX connectivity monitoring and archiving. The TradePVR solution aims to provide instant recall and searching of all recorded FIX sessions, measures response times on all requests and provides high-level summaries and charting.