Americas

Exchange status to boost Direct Edge in 2009

US equity trading venue Direct Edge’s pursuit of exchange status for its two trading platforms, EDGA and EDGX, will put it on the same regulatory footing as its three biggest rivals – the New York Stock Exchange (NYSE), Nasdaq and BATS Exchange.

US asset managers slash costs by up to a fifth

US Investment managers that are taking active measures to reduce expenses are targeting average cost cuts of 22% by the end of 2009 as falling portfolio values shrink revenues, according to a new survey by research and consulting firm Greenwich Associates.

Chilean Stock Exchange to adopt low-latency IBM trading platform

The Chilean Stock Exchange aims to benefit from faster transactions and better communication with other exchanges worldwide after signing a deal with IBM, the US technology and consulting firm, for a new securities trading platform.

FlexTrade links SOR to Canada’s Alpha ATS

Trading systems provider Flextrade has connected the smart order routing function of its FlexTRADER execution management system (EMS) to Alpha ATS, the Canadian alternative trading platform that went live on 7 November.