Dealing rooms

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/Dealing rooms

Wall Street group issues recommendations for market reform

A year on from the start of the credit crisis, an industry group comprising of senior executives from Wall Street's biggest banks has published a wide-ranging set of recommendations for improving risk management and preventing another financial meltdown.

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Glitch knocks out Nyse floor hand-held devices

A technical glitch with hand-held devices used by floor brokers at the New York Stock Exchange (Nyse) left traders unable to send or receive orders yesterday morning.

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Tokyo Stock Exchange slashes executives' pay again

The Tokyo Stock Exchange (TSE) is cutting the pay of its senior executives following a technical glitch that halted derivatives trading on the bourse last month.

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Statpro warns of trouble ahead

Statpro, an AIM-listed supplier of portfolio analytics software for fund managers, has posted a 45% drop in pre-tax profit for the first half of the year and is warning of a "worsening in trading conditions in the second half".

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Fidessa rises on positive first half

London-based Fidessa has posted rising revenue and pre tax profit for the first six months of the year and says it expects the growth to continue in the second half, despite the turbulent conditions in the financial markets.

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Lab49 develops portfolio management application for iPhone

Technology consultancy Lab49 has launched a real-time portfolio management application designed specifically for the Apple iPhone.

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JPMorgan ditches Square Mile for Canary Wharf

US investment bank JPMorgan has ditched plans to establish its European headquarters in the City of London and has opted to move to the Canary Wharf financial district instead.

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LSE cuts fees as rivals circle

The London Stock Exchange (LSE) is cutting trading fees and introducing incentives for liquidity providers in a bid to attract algorithmic traders and fight off competition from alternative trading systems.

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Tullett Prebon and GFI in merger talks

Interdealer brokers Tullett Prebon and GFI Group have confirmed they are in discussions about a possible merger.

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SunGard moves to acquire GL Trade

US fintech giant SunGard has made a binding offer to acquire a majority 64.51% stake in French dealing systems vendor GL Trade at a price of EUR41.70 per share.

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ITG buys out BLOCKalert; reports fall in Q2 net income

New York-based Investment Technology Group (ITG) says it is buying the stake it doesn't already hold in BLOCKalert, a block trading joint venture it established with Merrill Lynch.

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Thomson Reuters loses FaceTime IM technology suit

Thomson Reuters must remove technology developed by FaceTime Communications from its instant messaging (IM) service following a legal ruling over a late licensing payment.

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Turquoise hit by clearing issue in Italy - report

Bank-backed pan-European platform Turquoise will not offer trading in Italian equities when it launches because Italian central securities depository Monte Titoli will not cooperate with its own clearing and settlement provider, EuroCCP.

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Nyse in algo trading move

The New York Stock Exchange (Nyse) is rolling out technology that enables floor brokers to trade algorithmically and easily locate larger sources of liquidity.

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JPMorgan algo trading head Carrie quits

Carl Carrie, global head of algorithmic trading at JPMorgan, has left the bank and is currently on gardening leave before embarking on a new venture.

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Finexpo to focus on new execution landscape

The Finexpo - Execution Management conference and exhibition has opened for registration. The event, on Thursday 16 October at The Brewery in London, will focus purely on trade execution, order routing, low-latency data provision and productivity tools for the front-office.

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Apcims challenges FSA on data security and MiFID

The UK's Association of Private Client Investment Managers and Stockbrokers (Apcims) is using the Financial Services Authority's (FSA) AGM to raise concerns about changes to existing data security measures and about the management of post-trade data following the implementation of MiFID.

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Plus to launch dark liquidity pool

Plus Markets, the quote-driven trading system for AIM-listed stocks, is launching a dark liquidity pool for small and mid-cap securities as part of a programme of enhancements to its platform.

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Eurex ventures into OTC derivatives clearing

Swiss German derivatives exchange Eurex is in talks with infrastructure providers about introducing a clearing platform for the over-the-counter (OTC) credit markets.

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Merrill smart order router executes 100m shares on Chi-X Europe

Chi-X Europe says Merrill Lynch's smart order router executed over 100 million shares on its pan-European multilateral trading facility (MTF) in a single day last week.