Dealing rooms

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/Dealing rooms

Financial firms fund study into use of supercomputers for market stability

An academic project exploring how supercomputing and data intensive science can be tapped to aid stability, regulation, and enforcement in US markets has received $100,000 in research donations from a collection of financial firms.

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Citigroup fined for fat-finger trade that floored stock price

Citigroup has been fined $30,000 by Australian securities regulators for a fat-finger trading error which caused the share price of a stock to plunge by 99%.

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HFT in the dock as another trading error hits exchanges

Stock exchanges, including Nasdaq, have been forced to cancel trades after erroneous orders in a security sent its price rocketing, according to the Financial Times.

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Regulators move to curb FX settlement risks

The Bank for International Settlement has issued fresh guidance on the management of foreign exchange settlement risk, amid concerns that bank back offices are being overwhelmed by massive growth in FX dealing volumes.

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UBS launches Quant HQ

Swiss bank UBS has set up a business area, called Quant HQ, offering quantitative trading clients access to its expertise and technology.

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DTCC and Swift launch CFTC LEI portal

A Web portal for assigning Commodity Futures Trading Commission (CFTC) identifiers to firms involved in OTC derivatives trading has gone live.

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CME to set up European derivatives exchange

CME Group, operator of the world's largest futures exchange, has applied to the Financial Services Authority to establish a European derivatives market based in London.

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LCH.Clearnet acquires sole ownership of International Derivatives Clearing Group

LCH.Clearnet has reinforced its commitment to the US marketplace by acquiring sole ownership of International Derivatives Clearing Group (IDCG) from Nasdaq OMX and other minority investors.

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Thomson Reuters extends FXall tender offer; agrees to settle class action suit

Thomson Reuters has filed an application to settle a class action lawsuit over its proposed acquisition of multi-bank foreign exchange portal FXall and extended its $616 million tender offer by three days.

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Australia bids to curb rogue algos

Australian securities regulators have unveiled tough new controls on automated trading systems in a bid avoid the aberrent market behaviours witnessed in European and US marketplacse.

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Former Goldman programmer arrested again over HFT code theft

Sergey Aleynikov, the former Goldman Sachs programmer who had his conviction for stealing the bank's propriety HFT code overturned earlier this year, has been hit with fresh charges.

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Avox launches legal entity data portal

The DTCC's Avox unit has launched a revamped portal offering free access to core data fields and standard industry identifiers for a global set of legal entities.

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TSE and BSE trading hit by systems glitches

Just a day after a similar glitch hit Spain's Bolsas y Mercados Espanoles, trading on the Tokyo Stock Exchange was suspended this morning thanks to a systems failure

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Knight closes in on $400m rescue deal

Knight Capital looks set to survive last week's costly trading technology meltdown thanks to a $400 million rescue package put together by a group of investors.

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Knight Capital blames tech glitch for stock market chaos; faces $440m pre-tax loss

Knight Capital says that a "technology issue" at its market making unit was behind the volatile price movements in 140 shares yesterday that forced Nyse Euronext to cancel trades.

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Thomson Reuters Q2 hit by struggling finance sector

Thomson Reuters says its financial and risk business continued to suffer in the second quarter thanks to "growing headwinds" in the FS sector.

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UBS threatens Nasdaq OMX legal action as $357m Facebook IPO loss hits Q2 profits

UBS has warned Nasdaq OMX that it could take legal action to recover the CHF349 million ($357 million) it lost thanks to the exchange operator's "gross mishandling" of the Facebook IPO.

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Stocktwits founder accuses Twitter of hijacking over cashtags feature

Twitter has been accused of a 'hijacking' by Stocktwits founder Howard Lindzon after rolling out a 'cashtags' feature that enables users to click on stock symbols preceded by a '$' sign to find chatter on the relevant companies.

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TS-Associates buys Correlix

TS-Associates has acquired the assets of latency management service provider Correlix. Financial terms of the deal were not disclosed.

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Thomson Reuters, GFI Group and SDIC Trust form Chinese FX and money broker JV

Thomson Reuters and GFI Group have formed a joint venture with Chinese outfit SDIC Trust and filed an application to launch a foreign exchange and money brokerage in the country.