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News/Dealing rooms
European depository Euroclear is establishing a "project delivery services" division that will manage the generic technology operations that support its projects and programmes.
06 March 2008
US electronic bond trading network MarketAxess has acquired Chicago-based FIX specialist Greenline Financial Technologies in a cash and stock deal worth around $42 million.
Reuters has posted a 13% fall in full year pre-tax profit in its final set of results as a standalone company, but says indications for 2008 are encouraging despite the uncertain market environment.
SunGard has acquired Advanced Portfolio Technologies (APT), a New York-based provider of risk management and portfolio optimisation software to asset managers, hedge funds, pension funds, broker/dealers and proprietary traders.
Around 100 workers from Atos Euronext Market Solutions (AEMS) participated in a two hour strike in protest over the package offered to staff affected by the split of the joint venture into two separate units.
04 March 2008
Merrill Lynch has hired Thomas Sanzone - currently chief information officer (CIO) at Credit Suisse - to oversee its global technology, operations and corporate services groups.
Börse Berlin has selected LCH.Clearnet to provide clearing and settlement services for its MiFID-compliant pan-European Equiduct Trading platform, which is expected to launch in the middle of the year.
Fintech giant SunGard is reporting a healthy rise in fourth quarter revenue and income across its business, particularly its financial systems unit which it says was not impacted by the sub-prime crisis.
UK financial institutions will soon have to record and store telephone conversations and electronic communications relating to client orders under new regulations to be introduced by the Financial Services Authority (FSA).
Commodity broker MF Global has hired external risk consultants to review its order entry systems after a trader dealing in wheat futures was able to exceed his limit order and place unauthorised trades that will cost the firm $141.5 million in losses.
29 February 2008
The Toronto Stock Exchange is gearing up to launch a new trading facility designed specifically for "high-velocity traders" using automated and algorithmic trading strategies, which will operate alongside its central limit order book.
28 February 2008
The newly merged Nasdaq OMX Group is acquiring a 20% equity stake in Agora-X - a new US marketplace for over-the-counter (OTC) commodity contracts - for $7.5 million.
Oslo Børs is holding talks with OMX about replacing its trading infrastructure with the vendor's new Genium platform.
Börse Berlin has opened a new sales office for Equiduct Trading, its MiFID-compliant pan-European platform, in Paris.
27 February 2008
London-based derivatives exchange Liffe is planning to enter the clearing business in a bid to fight off competition from Project Rainbow, the European exchange being set up by investment banks, according to a Bloomberg report.
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