Middle East & Africa

Interdealer broker Tradition has hired three senior executives to bolster its expansion drive in 2015.

Bank of America’s Global Markets division saw sales and trading income fall by a fifth in the fourth quarter of 2014, according to results today, excluding accounting adjustments.

JP Morgan saw revenue from its fixed income markets operation plummet by 23% in the fourth quarter of 2014, compared to Q4 2013 because of lower income from credit and securitised products and the sale of two business units.

Citi’s head of EMEA execution sales (electronic trading) has left the group after five and a half years, The TRADE understands.

The Johannesburg Stock Exchange (JSE) has completed the second phase of its T+3 project, a move that will see the settlement cycle for South African equities cut by two days.

The successes and failures of European regional market infrastructure projects should be thoroughly examined by professionals embarking on similar initiatives in Latin America and Asia.

The Johannesburg Stock Exchange has created a co-location centre offering low-latency connectivity to the South African exchange.

ALTX Africa Group, a new exchange operator focusing on East Africa, has been granted its first licence to launch a venue in Uganda.

Euronext has agreed to provide four stock exchanges across the Middle East and North Africa with its trading platform technology.

The Qatari market has been upgraded from a frontier market to an emerging market by Standard & Poor’s.