Dealing rooms

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Lehman bankruptcy and Merrill buy-out shrinks industry IT budget

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Lehman bankruptcy and Merrill buy-out shrinks industry IT budget

From a technology perspective, the US securities industry has shrunk by around six per cent in recent days following Lehman Brothers' bankruptcy and the acquisition of Merrill Lynch by Bank of America, according to analysis by Financial Insights.

Autonomy looks to cash in on FSA call recording regulations

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Autonomy looks to cash in on FSA call recording regulations

Software house Autonomy is pitching for business from firms looking to comply with upcoming Financial Services Authority (FSA) regulations requiring them to record and store telephone conversations and electronic communications relating to client orders.

BNY ConvergEx names HSBC veteran Carroll CTO

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BNY ConvergEx names HSBC veteran Carroll CTO

BNY ConvergEx has appointed industry veteran Thomas Carroll as executive managing director and chief technology officer (CTO).

LSE dark pool plans rocked by Lehman default

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LSE dark pool plans rocked by Lehman default

The London Stock Exchange maintains that its Baikal dark pool project remains "a sound business proposition" despite the bankruptcy protection filing by partner Lehman Brothers.

Omgeo moves into derivatives with Allustra acquisition

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Omgeo moves into derivatives with Allustra acquisition

Omgeo has acquired London-based collateral management house Allustra, for an undisclosed sum. In addition, the post-trade processor has acquired a derivatives portfolio reconciliation platform designed by Global Electronic Markets (GEM), after piloting the technology with a large broker/dealer and global hedge fund.

European clearing code failing to deliver

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European clearing code failing to deliver

More than 80 formal applications have been made by clearing and settlement houses for interoperability and mutual access in accordance with the European Commission's voluntary code of conduct, but none has gone live.

CME set to dump FXMarketSpace - report

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CME set to dump FXMarketSpace - report

CME Group is planning to withdraw from FXMarketSpace, the centrally-cleared foreign exchange marketplace it established with Thomson Reuters, according to a press report.

Eurofi calls for stricter enforcement of post-trade rationalisation programmes

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Eurofi calls for stricter enforcement of post-trade rationalisation programmes

European think tank Eurofi has called on the European Commission to institute tougher enforcement of settlement harmonisation and consolidation programmes aimed at cutting costs of cross-border post-trade services across the EU.

Wallstreet obtains $105m secured credit facility

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Wallstreet obtains $105m secured credit facility

Trading and treasury systems vendor Wall Street Systems has obtained a new $105 million secured credit facility from Wells Fargo Foothill.

Tullett Prebon and GFI end merger talks

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Tullett Prebon and GFI end merger talks

Interdealer brokers Tullett Prebon and GFI Group have ended talks over a possible merger after they failed to agree economic terms of a deal.

RZB selects Thomson Reuters technology for market risk project

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RZB selects Thomson Reuters technology for market risk project

Austrian banking group Raiffeisen Zentralbank Österreich is implementing technology from Thomson Reuters to support a new enterprise-wide market risk management system.

Thomson Reuters unveils mobile market data

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Thomson Reuters unveils mobile market data

Thomson Reuters has launched a mobile version of its One suite, delivering financial information directly to handheld devices.

LSE trading halted by connectivity failure

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LSE trading halted by connectivity failure

The London Stock Exchange suspended trading for the best part of Monday after being hit by a computer glitch amid frenzied dealing following the overnight bail-out of Freddie Mac and Fannie Mae by the US Government.

Progress Software wins first Chinese algo trading client

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Progress Software wins first Chinese algo trading client

Bank of China International (BOCI) has signed for Massachusetts-based Progress Software's algorithmic trading platform, Apama.

Nasdaq OMX wins FSA approval as Nyse Euronext prepares to launch Octopus MTF

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Nasdaq OMX wins FSA approval as Nyse Euronext prepares to launch Octopus MTF

Nasdaq OMX has won approval from the Financial Services Authority to commence trading as a Multilateral Trading Facility on 26 September. The platform is set to face fresh competition from a new MTF being launched by pan-European rival Nyse Euronext, codenamed Octopus.

Advent acquires research management outfit Tamale

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Advent acquires research management outfit Tamale

California-based Advent Software has signed a definitive agreement to acquire Tamale Software, a privately-held provider of research management technology, in a cash and stock deal worth around $70 million.

Nasdaq OMX bags derivatives contracts in South Africa and Columbia

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Nasdaq OMX bags derivatives contracts in South Africa and Columbia

Nasdaq OMX is celebrating two significant contracts in the international derivatives markets, specifying the provision of a Central Clearing Counterparty in South Africa, and a trading engine for a new exchange in Columbia.

Calls grow for more action on trade verification

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Calls grow for more action on trade verification

Tabb Group forecasts that nearly $170 million will be spent in 2010 by major sell-side broker-dealers to automate the affirmation process and mitigate the potential risk resulting from trade exceptions in the credit default swaps market.

Nasdaq OMX sets pricing for European platform

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Nasdaq OMX sets pricing for European platform

Nasdaq OMX has outlined the pricing structure for its new pan-European multilateral trading facility (MTF) which will - in the majority of cases - make it less expensive to route orders through the platform than to trade on the primary markets.

LSE introduces proximity service

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LSE introduces proximity service

The London Stock Exchange (LSE) is introducing a hosting service that will provide high-frequency algorithmic trading firms with low latency access to its TradElect and Infolect systems.

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