US post-trade processing firm Depository Trust and Clearing Corporation's (DTCC) member-owned structure could complicate its battle to acquire European clearing house LCH.Clearnet.
Investment bank Credit Suisse’s Advanced Execution Services (AES) division, which supplies algorithms and trading tools to the buy-side, has expanded its derivatives capabilities by joining financial software firm Orc’s ExNet broker connectivity network and launching a joint offering with US options pricing and analytics firm Derivix.
Europe’s biggest brokers welcomed last week’s announcements on interoperability between central counterparties (CCP) but admit it is only the first step towards an efficient clearing model for the pan-European market.
Electronic foreign exchange trading platform FXall has launched Cross Currency Netting, a new feature enabling users to manage high-value multi-currency exposures in volatile markets.
Burgundy, a multilateral trading facility for Nordic securities, has chosen European Multilateral Clearing Facility (EMCF) as its central counterparty (CCP), and is looking to add other clearers as the platform develops.
This summer will see the launch of yet another pan-European multilateral trading facility, Quote MTF, a Hungarian-based platform that will offer liquidity from third-party market-makers from launch.
European Multilateral Clearing Facility (EMCF), the Dutch-regulated central counterparty that clears trades for three UK-regulated MTFs, has been granted recognised overseas clearing house (ROCH) status by the UK’s regulator, the Financial Services Authority.
The average daily value of equity trades on the London Stock Exchange's (LSE) electronic order books fell 60% to £6.2 billion in January 2009 from the record average daily value reported in January 2008.
Investment Technology Group (ITG), a global agency brokerage and trading technology firm, has reshuffled its senior management following the departure of international CEO Alasdair Haynes.