Latest Dealing rooms News: Finextra Research

Quants say bosses don't understand them

A staggering two thirds of quantitative analysts think their supervisors do not understand the work they do, according to a survey from training outfit 7city Learning.

04 November 2009

News/Dealing rooms

Bloomberg smashes proprietary identifier market

Market data vendor Bloomberg is looking to create an open standard for financial instrument identifiers by making its own proprietary symbology available for free to developers and market practitioners.

04 November 2009

News/Dealing rooms

BME to take on DTCC with trade repository plan

Spanish bourse Bolsas y Mercados Españoles (BME) has announced plans to create a trade repository for over-the-counter (OTC) financial instruments, in a move that will pit the European exchange operator against the US-based Depository Trust and Clearing Corporation (DTCC).

03 November 2009

News/Dealing rooms

Penson buys Broadridge clearing contracts; outsources tech services

Penson Worldwide has entered into a deal to buy the clearing contracts of Broadridge Financial Solutions' Ridge business for up to $70 million and then outsource some technology and processing services to the seller.

03 November 2009

News/Dealing rooms

Cantor Fitzgerald consolidates UK and US back office systems on SunGard

Cantor Fitzgerlad has completed the UK implementation of SunGard's Phase 3 securities processing system, providing the interdealer broker with a consolidated TransAtlantic back office for equity and fixed income trading.

02 November 2009

News/Dealing rooms

Deutsche Börse begins pan-European blue chip trading

Deutsche Börse has launched a pan-European market, based on its Xetra electronic trading platform, as it looks to take on the raft of new competitors to have emerged in the wake of MiFID.

02 November 2009

News/Dealing rooms

Fidessa launches LatentZero as a Service

Fidessa has launched a Software as a Service (SaaS) version of LatentZero, its front office offering for buy-side institutions.

02 November 2009

News/Dealing rooms

LCH.Clearnet suspends interoperability work as watchdogs probe risks

LCH.Clearnet has suspended plans to begin offering clearing services across a range of execution venues next week due to regulatory concerns about systemic weaknesses in clearing house interoperability arrangements.

30 October 2009

News/Dealing rooms

As dark pool debate rages, Credit Suisse Crossfinder records best ever day

Despite growing scrutiny from regulators, the popularity of dark pools shows no signs of abating in the US, with Credit Suisse's Crossfinder ATS recording its strongest ever day this week, claiming half a billion shares traded.

30 October 2009

News/Dealing rooms

CLS Bank to establish FX trade data repository

Foreign exchange settlement outfit CLS Bank is to establish a trade data repository for the global FX market, in a move designed to head off regulatory pressure for more transparency in the over-the-counter currency markets.

29 October 2009

News/Dealing rooms

Finra forms Social Networking Task Force

US regulatory body Finra has formed a Social Networking Task Force to explore the compliance challenges posed by new Web 2.0 communications channels, such as FaceBook, LinkedIn, and Twitter.

29 October 2009

News/Dealing rooms

Canada fixed income sees e-trading surge

In the midst of the global financial crisis, Canada's largest and most active institutional fixed-income traders led a long-awaited move into electronic trading, according to research from Greenwich Associates.

29 October 2009

News/Dealing rooms

SEC sets sights on sponsored access and exchange co-location

After taking on dark pools and flash orders, the Securities and Exchange Commission has now turned its attention to high frequency trading and the practice of sponsored access to exchanges.

27 October 2009

News/Dealing rooms

Finra fines Scottrade $600,000 for AML failings

US online brokerage Scottrade has been hit with a $600,000 fine for failing to establish and implement an adequate anti-money laundering programme for its Internet-based business model.

26 October 2009

News/Dealing rooms

Nasdaq serves up Twitter stock buzz on iPhone

Nasdaq has released an iPhone app that enables users to track the performance of their portfolio, access share price information and search for the latest tweets on particular stocks.

26 October 2009

News/Dealing rooms

First Derivatives acquires the Reference Data Factory

First Derivatives has acquired New Jersey-based data management outfit the Reference Data Factory for an initial consideration of $2.5 million, with an additional $7.5 million reserved for earn-out provision.

26 October 2009

News/Dealing rooms

Japan's FSA suspends BNP Paribas unit

Japan's Financial Services Agency has ordered BNP Paribas to suspend its derivatives business in the country for two weeks for share price manipulation and reporting failures.

23 October 2009

News/Dealing rooms

Fidessa forecasts slowdown in H2 as consolidation trends hit market

Trading systems vendor Fidessa is forecasting a slowdown in growth for the second half of 2009 as consolidation trends hit smaller customers and buy-side firms.

23 October 2009

News/Dealing rooms

Nomura launches low-latency European trading service

Nomura has launched a low latency trading service that taps networking technology from Colt to offer clients co-located software hosting connectivity to major exchanges and MTFs in Europe.

22 October 2009

News/Dealing rooms

Regulators call for substantial IT investment to combat risk deficiencies

Financial services firms need to make substantial and sustained investments in IT infrastructure if they are to overcome severe underlying weaknesses in their risk management capabilities, according to a report by financial regulatory agencies.

22 October 2009