Paris-based trading and operations software firm GL TRADE, has acquired FNX SOLUTIONS, an American company that specialises in the management and processing of OTC products. The deal will be closed in the course of February 2007.
Tora Trading Services, a provider of trade execution and order management systems for the Asian financial markets, has opened a Hong Kong office.
The company says Tora Trading Services Limited (Hong Kong) was established to meet the growing demand for local support, sales and implementation expertise by its clients in the region.
Charles River Development, a provider of technology systems and services for investment professionals, has announced that 2006 was its sixth consecutive year of double-digit revenue and net-income growth. Charles River brought 50 new clients live on the Charles River Investment Management System (Charles River IMS), its front- and middle-office software suite for all asset classes and security types including credit and other derivatives.
FIX CITY, a software provider of FIX indication-of-interest (IOI) solutions, has announced that investment banking, securities trading and brokerage firm Bear Stearns has gone live with ioinet, FIX CITY's IOI distribution product, within its European and US brokerage arms.
FIX Protocol Limited (FPL) has released the FIX Adapted STreaming (FAST) Protocol Specification Version 1.1, which is recommended for adoption by the FPL Market Data Optimisation Working Group, the team responsible for the development of FAST. It is now publicly available and can be downloaded from FPL's website at www.fixprotocol.org/fast.
TABB Group in its newest research note, "Liquidity Management: Pushing Automated Trading Beyond Agency Brokerage," projects that over the next five years equity internalisation rates will shift with the amount of flow matched in dark books increasing. This will be caused by Reg NMS in the U.S. and MiFID in Europe, which will make it more challenging and risky to execute equities using more traditional internalisation techniques including block trading and capital commitment.
SS&C Technologies is to release a new management system for hedge funds called Marathon HF. The new platform allows hedge funds to adopt .Net technology from Microsoft.It also gives users tools for investor communications and reporting, while maintaining a secure repository of every transaction. "We've dedicated yea
Brussels-based financial messaging co-operative SWIFT has upped its commitment to increasing the rate of automation in the OTC derivatives industry by agreeing with the International Swaps and Derivatives Association (ISDA) to provide FpML messaging services over its SWIFTNet network. SWIFT reckons the service will ap
The Bank of New York (BNY), order management application provider Eze Castle Software and private equity house GTCR Golder Raunerhave formed a new company that unites BNY Securities Group's trade execution, commission management, independent research and transition management businesses with the order management appli
Brokers, exchanges and larger hedge funds need a comprehensive strategy to manage and leverage different forms of internal liquidity, according to an industry research note published by TABB Group. "Liquidity Management: Pushing Automated Trading Beyond Agency Brokerage" claims that although firms are automating thei