Software vendor Progress Software says Mexican broker-dealer Casa de Bolsa Finamex (Finamex) has bought its trading platform to provide algorithmic trading capabilities to its buy-side customers. Progress says the Apama algorithmic trading platform aims to help firms analyse, evaluate and respond to complex market events in real time.
In a new report based on the first week of trading on the U.S. equity options market penny quoting pilot (which commenced on January 26th), trading platform provider Tethys Technology predicts that algorithmic execution in options markets will grow.
According to a recent survey conducted by Financial Insights, an IDC company, and sponsored by Bank of America, algorithmic trading has become a standard practice within the securities industry with 72% of investment managers responding that they use algorithms, up from 67% in 2005.
The trading technology arm of the Spanish exchange group Bolsas y Mercados Españoles (BME) has developed an application called SuperTrack, which it says will allow stock market participants and third party users to design their own trading models based on algorithms.
The National Algorithms Group (NAG) has formed a partnership with Maplesoft as part of an effort to make its sophisticated mathematical tools available to less technical users. The goal is to make quantitative pricing, hedging and probabilistic modeling and analysis tools, Monte Carlo simulations and optimizations available on the desk top.
Nomura Holdings has completed the acquisition of agency brokerage Instinet for a final price of US$1.2 billion. Nomura says it is looking to Instinet to help it develop the algorithmic and other sophisticated trading technologies and execution services demanded by hedge funds in particular, but increasingly by institutional fund managers as well.
Investment Technology Group, the technology-based equity trading services group, announced yesterday that revenues in Europe for the year ended December 31, 2006, were 20 % ahead of the previous year.
Euronext, the European stock exchange group planning a merger with the New York Stock Exchange (NYSE), says it is introducing a best execution algorithm, real-time dissemination of off-order book trades and new transaction reporting services as part of preparations for the implementation of the Markets in Financial Instruments Directive (MiFID) in November 2007.
FutureTrade, a provider of electronic equity and option execution services, yesterday announced a strategic partnership with Jefferies, an investment bank and institutional securities firm, in which FutureTrade's electronic trade execution management system (EMS) will be offered to Jefferies' electronic trading, algorithmic and prime brokerage customers. FutureTrade's platform will serve as a trading front-end for Jefferies' Electronic Trading Solutions (JETS) product and Quantitative Execution Strategy (QES) algorithms.
Algorithmic execution management system vendor FlexTrade has developed a new version of its FlexPTS portfolio trade scheduler.
The goal of the system is to enable users to determine the best trading trajectory for their portfolios while minimizing market-impact cost and the risk of underperforming benchmarks.