Latest Dealing rooms News: Finextra Research

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.

04 September 2008

News/Dealing rooms

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.

03 September 2008

News/Dealing rooms

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.

01 September 2008

News/Dealing rooms

LSE hires Self as dark pool launch nears

The London Stock Exchange (LSE) has recruited Kiri Self - former head of operations at Nyfix International - to advise on post trade issues relating to Baikal, the dark pool it is establishing with Lehman Brothers.

29 August 2008

News/Dealing rooms

GL Trade profits from economic turbulence

French dealing systems vendor GL Trade says the turbulent markets in the first half of the year boosted demand for its middle and back-office technology as banks moved to upgrade internal control procedures and risk management.

28 August 2008

News/Dealing rooms

Stretched back offices win reprieve as FSA warns banks on staff cuts

The Financial Services Authority has warned UK investment banks to improve their risk pricing procedures and stop firing middle and back office staff involved in crucial valuation control functions.

26 August 2008

News/Dealing rooms

Deutsche Börse slashes algo trading fees

Deutsche Börse is following the example of other incumbent exchanges by cutting algorithmic trading fees on its Xetra platform in a bid to fend off competition from rival bourses and alternative trading systems (ATS).

26 August 2008

News/Dealing rooms

New post-trade rules proposed to remove barriers to cross-border trading

An advisory group has put forward recommendations for breaking down legal barriers to the cross-border holding and settlement of securities in the European Union, including proposals to enable issuers to choose which central securities depository they want to use.

22 August 2008

News/Dealing rooms

Nyse Euronext gears up for futures launch

Transatlantic exchange Nyse Euronext is to launch a new US futures exchange in September after the Commodity and Futures Trading Commission (CFTC) approved its application to become a designated contract market (DCM).

22 August 2008

News/Dealing rooms

More upstart exchanges set to enter crowded post-MiFID market

Up to three new alternative equity trading systems are gearing up to launch in the European market, in addition to ventures such as Chi-X, Turquoise and Equiduct, according to a Financial Times report.

21 August 2008

News/Dealing rooms

Bats secures exchange status

Kansas-based ECN operator Bats Trading has received approval from the US Securities and Exchange Commission (SEC) to operate as a registered national securities exchange.

19 August 2008

News/Dealing rooms

Turquoise goes live

Turquoise, the bank-backed MiFID-compliant equities trading facility established by nine investment banks, has finally gone live.

15 August 2008

News/Dealing rooms

Nasdaq OMX gears up for European launch

Transatlantic exchange Nasdaq OMX is gearing up to launch a new data centre in London to support its forthcoming pan-European trading and routing facility.

15 August 2008

News/Dealing rooms

Equiduct revises pricing to reward liquidity providers

New multi-lateral trading facility Borse Berlin Equiduct has revised its pricing structure ahead of its forthcoming launch in an effort to reward users for bringing liquidity to the platform.

14 August 2008

News/Dealing rooms

Tradeweb boosted by money market trading

Electronic fixed income platform Tradeweb says overall trading volumes on its network increased 40% in the first half of the year to hit $42.7 trillion.

14 August 2008

News/Dealing rooms

Investors in the dark about dark pools

Many institutional investors have misgivings about the actual levels of anonymity and liquidity provided by broker/dealer and exchange-operated dark pools, according to new research released by Greenwich Associates (GA) which found varying policies and practices among providers.

14 August 2008

News/Dealing rooms

EuroCCP and Turquoise gear up for Friday launch

European Central Counterparty Limited (EuroCCP) - the pan-European arm of US depository DTCC - is expected to launch on Friday with 15 firms having gained approval as clearing participants, including the nine founding members of Turquoise and six other firms.

13 August 2008

News/Dealing rooms

Thomson Reuters talks up Q2 as revenue growth stutters

Thomson Reuters says growth in foreign exchange, commodities, energy, corporate and emerging markets helped offset weaknesses among its large global investment banking clients in the second quarter.

12 August 2008

News/Dealing rooms

Nyfix cuts staff as costs keep on rising

Nyfix cut 10% of its global workforce in June in a bid to reduce annual costs by $5 million, but the US trading systems vendor warns it will incur further costs from its Euro Millennium ATS and the integration of its Fixcity acquisition during the rest of the year.

12 August 2008

News/Dealing rooms

Sapient buys Derivatives Consulting Group

Massachusetts-based Sapient has acquired Derivatives Consulting Group (DCG), a London-based provider of consulting and outsourcing services to investment banks and asset managers.

08 August 2008