Latest Dealing rooms News: Finextra Research

RBS to cut 2300 UK back office jobs

Royal Bank of Scotland is to cut 2300 jobs from across its back office operations in the UK as it scales back its business in response to the ongoing financial crisis.

10 February 2009

News/Dealing rooms

Patsystems beats expectations

Shares in screen dealing vendor Patsystems rose by more than ten per cent after the UK-based company beat market expectations with a 15% rise in revenue and 23% increase in pretax profit for the full year 2008.

10 February 2009

News/Dealing rooms

Quote MTF to enter pan-European trading market

The crowded European market for stock exchange trading will welcome another new liquidity platform in the coming months with the summer launch of Quote MTF, an upstart independent venue operating out of Hungary.

09 February 2009

News/Dealing rooms

Brazil's Ágora Corretora deploys Progress Apama for algo trading

Brazilian broker Ágora Corretora de Titulos e Valores Mobiliarios has rolled out Massachusetts-based Progress Software's Apama complex event processing (CEP) platform to support algorithmic equities trading.

06 February 2009

News/Dealing rooms

Korea Exchange doubles capacity, cuts latency on Unix platform upgrade

The Korea Exchange (KRX), the world's second largest derivatives exchange, has commenced member testing of a modern, faster version of its trading platform, in anticipation of a rise in business stemming from the introduction of the country's Capital Market Consolidation Act.

06 February 2009

News/Dealing rooms

Wall Street M&A advisors charged over insider trading

Mergers and acquisitions professionals from UBS and Blackstone Advisory Service have been charged by US authorities with feeding confidential information to an insider trading ring that generated over $11.6 million.

06 February 2009

News/Dealing rooms

Ex-Lehman man Rolet favourite for LSE chief role - FT

Former Lehman Brothers banker Xavier Rolet has emerged as the frontrunner to replace Clara Furse as chief executive of the London Stock Exchange (LSE), according to press reports.

06 February 2009

News/Dealing rooms

SAS launches risk and remuneration profiling tool at Finexpo

Business analytics vendor SAS has teamed up with human resources outfit Coalition to launch a new software product that enables financial services organisations to better align employee remuneration to the firms appetite for risk.

05 February 2009

News/Dealing rooms

HSBC and JPMorgan join SwapClear; DTCC hits back at LCH.Clearnet critics

HSBC and JPMorgan have become shareholders of OTCDerivNet, the company which provides strategic direction to LCH.Clearnet's SwapClear service.

03 February 2009

News/Dealing rooms

SIX- x-clear and EMCF to offer competitive clearing

SIX x-clear and Dutch central counterparty EMCF have signed a Memorandum of Understanding to offer competitive clearing across multiple stock exchange venues.

03 February 2009

News/Dealing rooms

LSE to press on with Baikal build as solo venture; names Ryland as CTO

The London Stock Exchange has appointed Mark Ryland as chief technology officer of Baikal, its forthcoming pan-European dark liquidity trading venue.

03 February 2009

News/Dealing rooms

Morningstar faces Internet espionage suit

NewRiver, a US software provider to the brokerage industry, has filed a lawsuit against Morningstar, alleging the investment research provider unlawfully accessed its Web-based data warehouse.

03 February 2009

News/Dealing rooms

Thomson Reuters creates instant messaging hub

Thomson Reuters has partnered with Microsoft, Cisco and IBM to enable cross-platform communication across proprietary instant messaging systems.

02 February 2009

News/Dealing rooms

Icap-led consortium preps counter-bid for LCH.Clearnet

UK interdealer broker Icap is part of a consortium of firms mulling a bid for LCH.Clearnet, in a move that could destabilise an agreed takeover of the London clearing house by the US-based Depository Trust and Clearing Corporation.

02 February 2009

News/Dealing rooms

JPMorgan sacrifices CDS engine to open source in bid to stave off legislation

JPMorgan is to hand over its inhouse-developed CDS analytical engine to the International Swaps and Derivatives Association to run as an open platform in an effort to increase transparency in credit default swaps pricing and stave off legislation.

30 January 2009

News/Dealing rooms

Forex Capital Markets to buy Hotspot FX retail business

Forex Capital Markets (FXCM) has inked a deal to acquire the retail foreign exchange business of Knight Capital Group's Hotspot FXr. Financial terms of the deal were not disclosed.

30 January 2009

News/Dealing rooms

Morgan Stanley mulls back office and IT staff cuts - WSJ

Morgan Stanley and Goldman Sachs are considering a further round of job cuts, according to a Wall Street Journal report which cites people familiar with the deliberations.

30 January 2009

News/Dealing rooms

DTCC plans real-time trade guarantee

The Depository Trust & Clearing Corporation (DTCC) has outlined plans to implement a real-time trade date guarantee for equity and corporate and municipal bond transactions, as it looks to ease concerns among market participants over security of settlement.

29 January 2009

News/Dealing rooms

First Derivatives secures £3m from Invest Northern Ireland for job creation

Banking software developer First Derivatives has secured over £3 million in funding from Invest Northern Ireland (InvestNI), the country's economic development organisation, to support the creation of 142 new jobs.

29 January 2009

News/Dealing rooms

SmartPool greenlighted by FSA; to begin trading next week

SmartPool, the new multi-lateral trading facility (MTF) set up by Nyse Euronext, BNP Paribas, HSBC and JPMorgan, has received Financial Services Authority (FSA) approval to launch its dark pool for block trading in European stocks.

28 January 2009