Latest Dealing rooms News: Finextra Research

ASX trading hit by glitch as Chi-X waits in wings

Just days before the launch of a rival platform, the Australian Securities Exchange has been forced to halt trading for four hours by a "connectivity issue".

27 October 2011

News/Dealing rooms

UBS comes up short; fined $12 million by Finra for 'systemic supervisory failure'

The Financial Industry Regulatory Authority (Finra) has fined UBS Securities $12 million for failing to properly supervise short sales of securities.

26 October 2011

News/Dealing rooms

BofE's Tucker calls for CCP reform

Paul Tucker, deputy governor of the Bank of England, says effective resolution regimes need to be put in place to help deal with the "mayhem" that would result if a central counterparty went bust.

25 October 2011

News/Dealing rooms

Dark pool operator Pipeline pays $1m to settle SEC case

Pipeline Trading Systems will pay $1 million to settle SEC charges that it failed to tell users of its dark pool that the vast majority of orders were filed by an affiliated operation.

25 October 2011

News/Dealing rooms

UBS admits to breakdown in risk control systems

In the wake of its recent $2.3 billion loss through unauthorised trading, Swiss bank UBS has admitted that internal controls were "not effective".

25 October 2011

News/Dealing rooms

Plus Markets faces shareholder revolt

Plus Markets is facing a shareholder revolt calling for the dismissal of chairman Giles Vardy and the re-instatement of founder Simon Brickles to the board of the embattled company.

24 October 2011

News/Dealing rooms

Wedbush Securities sues Liquidnet over trade secrets

Wedbush Securities is suing two former employees and dark pool operator Liquidnet for allegedly stealing trade secrets related to a new private shares trading business.

21 October 2011

News/Dealing rooms

EC plans criminal sanctions for market abuse

The European Commission has vowed to get tough on insider dealing and market manipulation, proposing EU-wide rules on minimum criminal sanctions.

20 October 2011

News/Dealing rooms

MiFID reforms published; compliance bill to hit EUR732m in year one and EUR586m per annum thereafter

Financial markets in Europe are set to undergo a fundamental overhaul, as the European Commission rolls out new rules and regulations covering every aspect of the trade lifecycle, from pre-and post-trade transparency, through to execution and clearing and settlement.

20 October 2011

News/Dealing rooms

Securities watchdogs to step up HFT surveillance

Global securities regulators have called for stronger oversight of high frequency and algorithmic trading activity to 'mitigate the risks' posed by high-speed trading on market integrity and efficiency.

20 October 2011

News/Dealing rooms

EU financial markets get ready for MiFID II

The European Commission is this week meeting to finalise the details of a new set of rules governing competition and transparency in the capital markets, with implications for high frequency traders, execution venues, clearing firms, and the over-the-counter markets.

19 October 2011

News/Dealing rooms

Goldman Sachs and Morgan Stanley buy Chi-X Global stakes

A group of five financial institutions, including Goldman Sachs and BofA Merrill Lynch, have acquired minority stakes in Chi-X Global, which operates trading platforms in Canada and Japan.

18 October 2011

News/Dealing rooms

RBS investment bank unit targets tech and market data in cutback plans

The Royal Bank of Scotland's investment banking unit has put a freeze on software and hardware spending, cut back on market data costs and withdrawn subsidies for Christmas parties.

17 October 2011

News/Dealing rooms

Quote MTF severs ties with Swift Trade

Pan-European equity trading venue Quote MTF has severed all ties with Peter Beck, controversial CEO of the former day trading firm Swift Trade, which has run foul of global regulators for alleged market abuse.

17 October 2011

News/Dealing rooms

Ex-Citadel staffer charged over code theft

A former Citadel quantitative financial engineer has been arrested and charged in relation to the theft of trading-related computer code.

14 October 2011

News/Dealing rooms

European exchanges voice concern over HFT consultation's scope

Europe's exchanges have voiced their concerns that broker crossing networks are not being subjected to the same level of scrutiny as traditional bourses in the current debate on regulating automated trading.

13 October 2011

News/Dealing rooms

SEC proposes swaps registration rules

The Securities and Exchange Commission (SEC) has voted to push for a rule making security-based swap entities electronically file their registration with regulators.

13 October 2011

News/Dealing rooms

Citi chooses Fidessa for global derivatives platform

American banking giant Citi has contracted UK vendor Fidessa for the provision of a workflow and trading platform for its global listed derivatives business.

11 October 2011

News/Dealing rooms

UBS trading scandal investigation finds risk systems ignored

Risk systems did pick up suspect activity at UBS related to the recent loss of $2.3 billion through unauthorised trading but the information was not properly acted on, according to an internal investigation. Meanwhile, the bank's co-heads of global equities have resigned over the scandal.

06 October 2011

News/Dealing rooms

Anonymous threatens to 'erase' Nyse from the Internet

Hacker collective Anonymous has threatened to 'erase' the New York Stock Exchange from the Internet in support of the Occupy Wall Street protests in Manhattan.

04 October 2011