Dealing rooms

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System rationalisation to hit OMS and EMS spending - Tabb

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System rationalisation to hit OMS and EMS spending - Tabb

Spending on order and execution management systems is expected to slide significantly over the coming year as buy-side firms worldwide looks to consolidate system and rationalise their use of trading technology during the downturn, according to research from analyst house Tabb.

Back-office Merrill workers file overtime suit

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Back-office Merrill workers file overtime suit

Merrill Lynch, and its new owner Bank of America, are being sued by two back-office derivatives employees who claim they have not been paid overtime owed under the federal Fair Labor Standards Act.

EC initiates antitrust case against S&P

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EC initiates antitrust case against S&P

The European Commission (EC) has opened formal proceedings against Standard & Poor's (S&P) to look into whether the US firm abused its dominant market position by forcing financial firms to pay for the use of US securities numbering codes when accessing data from third party vendors.

Deutsche Börse maintains silence as Neonet confirms take-over talks

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Deutsche Börse maintains silence as Neonet confirms take-over talks

Swedish agency broker and systems supplier Neonet has confirmed it is in takeover talks. The confirmation comes a day after German newspaper Handelsblatt reported that Deutsche Börse was lining up a bid.

Deutsche Börse to buy financial news agency from Xinhua

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Deutsche Börse to buy financial news agency from Xinhua

Deutsche Börse is to acquire the US-based financial news agency Market News International (MNI). A purchase agreement was signed last Friday. Market News International will become a 100 per cent subsidiary of Deutsche Börse for US$10 million in cash. The transaction is expected to close by the end of January 2009, subject to approval of the German competition commission (Bundeskartellamt).

Euroclear to introduce ISO 200022-approved corporate actions standard

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Euroclear to introduce ISO 200022-approved corporate actions standard

Euroclear is to introduce a new set of ISO 200022-compliant messages for the exchange of corporate actions information and instructions between central securities depositories and issuer-appointed agents,

MF Global to exit US Futures Exchange

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MF Global to exit US Futures Exchange

MF Global is to write off its 48% stake in ailing US Futures Exchange, spurring the mart to a last ditch effort to find a buyer for the business before the year end.

Glitch knocks out TSX

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Glitch knocks out TSX

Trading on the Toronto Stock Exchange and the small-cap TSX Venture Exchange is expected to resume Thursday morning after a technical glitch with data feeds shut both down for the whole of Wednesday.

Morningstar buys Tenfore for £13.5m

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Morningstar buys Tenfore for £13.5m

Chicago-based investment research provider Morningstar has moved into the real-time market data business with the acquisition of Tenfore Systems for around £13.5 million in cash.

Newedge to deploy GL Trade's hosted processing for listed derivatives

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Newedge to deploy GL Trade's hosted processing for listed derivatives

GL Trade has closed a deal with Newedge Group, the global multi-asset brokerage firm, to extend the use of GL Instant Brokerage globally from its UK business to also cover its brokerage operations in Paris, New-York and Hong Kong.

Nyse Euronext begins migration to Universal Trading Platform

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Nyse Euronext begins migration to Universal Trading Platform

Nyse Euronext has begun moving over to its new Linux-based multi-asset class, Universal Trading Platform (UTP) with the migration of European bond products.

Former Lehman IT exec takes top tech spot at FBI

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Former Lehman IT exec takes top tech spot at FBI

Chad Fulgham, a former IT executive at bankrupt investment bank Lehman Brothers, has joined the Federal Bureau of Investigation (FBI) as chief information officer.

Big Blue scores with Friends Provident and the Chilean Stock Exchange

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Big Blue scores with Friends Provident and the Chilean Stock Exchange

UK life and pensions outfit Friends Provident has inked a 10 year, £200 million, IT and infrastructure services outsourcing deal with IBM.

Instinet execution data shows 'MTF effect' on European share trading

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Instinet execution data shows 'MTF effect' on European share trading

The success of new alternative European trading venues in winning business away from incumbent domestic exchanges has been demonstrated in the latest batch of execution figures released by Instinet Europe covering the 12 months since the introduction of the Markets in Financial Instruments Directive (MiFID).

JSE wins support for revised Bond Exchange tender

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JSE wins support for revised Bond Exchange tender

The Johannesburg Stock Exchange has reached agreement to buy the Bond Exchange of South Africa after raising its initial offer price by 39% from R173 million to R240.58 million.

Cantor speculates on box office entertainment

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Cantor speculates on box office entertainment

Cantor Fitzgerald has filed an application with regulators to launch an exchange that will allow users to hedge and speculate on the financial performance of movies.

Investment managers call for urgent UK reform following Lehman 'chaos'

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Investment managers call for urgent UK reform following Lehman 'chaos'

The UK's Investment Manager's Association has called for urgent reform of stock trading and settlement rules after the 'chaos' inflicted on the markets by an escalation in failed trades following the overnight collapse of Lehman Brothers.

Icap hires Daemon Bear to head dark pool MTF for stock trading

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Icap hires Daemon Bear to head dark pool MTF for stock trading

Interdealer broker Icap is planning to launch an alternative stock trading platform in the second half of 2009, according to Bloomberg.

Markit releases MiFID fragmentation analysis

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Markit releases MiFID fragmentation analysis

Financial information outfit Markit has combined with eleven top dealers to provide a consolidated source of aggregated data on market activity and liqudity across fragmenting European trading destinations.

London Stock Exchange set to oust Nasdaq OMX in Norway

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London Stock Exchange set to oust Nasdaq OMX in Norway

The London Stock Exchange has executed a daring raid on the 'home' turf of Nasdaq OMX, after signing a letter of intent with Oslo Børs to establish a strategic partnership and provide a new trading system.

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