Latest Dealing rooms News: Finextra Research

Bravura earnings downgrade threatens takeover

A second earnings downgrade in two weeks from Australian wealth management software vendor Bravura Solutions could derail a planned takeover by private equity firm Ironbridge Capital.

03 July 2008

News/Dealing rooms

Liquidnet to raise $500m in IPO

US electronic trading network Liquidnet has filed for a $500 million initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

02 July 2008

News/Dealing rooms

EuroCCP claims lowest clearing costs in Europe

If European firms used the EuroCCP platform to clear all trades, the industry could slash costs and save around EUR350 million a year, claims the DTCC subsidiary.

01 July 2008

News/Dealing rooms

SocGen Securities Services forms global IT and back office units

Société Générale Securities Services (SGSS) is establishing global divisions for its technology and back office operations as part of a major organisational overhaul.

01 July 2008

News/Dealing rooms

Turquoise gets FSA approval

Bank-backed equities trading facility Turquoise has received regulatory approval for its MiFID-complaint pan-European platform and surveillance system.

30 June 2008

News/Dealing rooms

LSE and Lehman to launch European dark pool

In a move that pitches it directly against rivals intent on stealing its market share, London Stock Exchange (LSE) is partnering Lehman Brothers to launch an off-bourse, pan-European equities trading facility that combines a dark liquidity pool with algorithmic trading functionality.

26 June 2008

News/Dealing rooms

Nordic firms to launch alternative trading facility

A group of the largest banks and brokers in Sweden are teaming up to launch an alternative trading facility - called Burgundy - that will provide trading in Nordic equities and compete directly with Nasdaq OMX and other exchanges.

25 June 2008

News/Dealing rooms

Nasdaq OMX to provide platform for Hong Kong commodity exchange

Nasdaq OMX has secured a deal to supply the technology infrastructure for a new commodities exchange that will launch in Hong Kong early next year.

25 June 2008

News/Dealing rooms

Saxo hires IT expert Ronan and market data specialist Thorball

Danish online investment bank Saxo has appointed Paul Ronan as head of enterprise architecture and Claus Thorball as head of global market data.

23 June 2008

News/Dealing rooms

Singer replaces Larsson as DIFX CEO

The Dubai International Financial Exchange (DIFX) has appointed Jeffrey Singer from Nasdaq OMX as its new chief executive officer, replacing Per Larsson who has "accepted another senior position in the region".

23 June 2008

News/Dealing rooms

Vienna takes Slovenian exchange

The Vienna Stock Exchange has acquired a 81.01% stake in the Ljubljana Stock Exchange after beating offers for the Slovenian bourse from other market operators including Hellenic Exchanges, Warsaw Stock Exchange and OMX.

20 June 2008

News/Dealing rooms

European sales traders here to stay

Although electronic and algorithmic trading will continue to grow over the next two years, European buy side firms will still use sales traders to execute orders, according to a new Tabb Group report.

19 June 2008

News/Dealing rooms

Banking regulators move to tackle liquidity risk

The Basel Committee on Banking Supervision has issued new draft guidelines for the management and supervision of liquidity risk, aimed at making the global banking system more resilient and addressing weaknesses revealed by the credit crunch.

18 June 2008

News/Dealing rooms

FSA fines stockbroker Merchant Securities for slack security

The UK's Financial Services Authority (FSA) has hit stockbroker Merchant Securities with a £77,000 fine for failing to protect customers from the risk of identity fraud.

18 June 2008

News/Dealing rooms

Deutsche Bank live on Chi-X Europe

The nine investment banks establishing the MiFID-compliant Turquoise platform are all now trading on rival ATS Chi-X Europe after Deutsche Bank executed its first trades on the Instinet system.

17 June 2008

News/Dealing rooms

Nyse to overhaul floor trading

The New York Stock Exchange (Nyse) is gearing up to introduce new rules for floor specialists that will effectively end its hybrid model of open outcry and electronic trading.

16 June 2008

News/Dealing rooms

Logicscope names John Barber CEO

UK post-trade software vendor Logicscope has appointed industry veteran John Barber as its new chief executive officer (CEO).

13 June 2008

News/Dealing rooms

Merrill mulling Bloomberg stake sale

Merrill Lynch CEO John Thain has fuelled new speculation that the investment bank is considering selling its 20% stake in US financial information company Bloomberg.

13 June 2008

News/Dealing rooms

Nyse to sell market data to Internet sites

The New York Stock Exchange (Nyse) is gearing up to launch a low-cost real-time market data service for delivery over personal finance Web sites. The move follows earlier deals by Nasdaq OMX and Bats Trading to distribute market data to new media giants such as Google and Yahoo!.

12 June 2008

News/Dealing rooms

Industry association to probe exchange clearing

The Futures and Options Association (FOA) is to probe plans by IntercontinentalExchange (ICE) and Liffe to establish clearing houses in Europe as part of a larger investigation into the exchange clearing business in the region.

12 June 2008