Trade execution

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FCA slaps £5.6 million fine on RBS for transaction reporting failures

The Royal Bank of Scotland (RBS) has been fined £5.6 million by the Financial Conduct Authority (FCA) for incorrectly reporting transactions in wholesale markets, and in some instances, failing to report transactions at all.

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Regulators begin HFT crack down on market spoofing algorithms

Regulators on both sides of the Atlantic have levelled their first fines against high frequency traders who deployed computer algorithms to spoof the markets by placing and immediately cancelling bids and offers in futures contracts.

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Nasdaq bulletin boards breached by hackers

Nasdaq has warned users of its community bulletin boards that hackers have broken into the site and may have compromised user e-mail addresses and passwords.

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Deutsche Börse connects with Liquidnet for block trading service

Deutsche Börse is to offer block trading of German equities through an arrangement with buy-side network Liquidnet.

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Goldman Sachs sells majority stake in Redi fintech biz

Goldman Sachs has sold a majority stake in its Redi fintech unit to a consortium of major finance players. Financial terms of the deal were not disclosed.

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Exchange data highlights systemic threat from cyber attacks

Just over half of the world's securities markets have fought off intrusions by cyber-attackers over the past year, according to figures released by the International Organisation of Securities Exchanges (Iosco) and the World Federation of Exchanges (WFE).

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Nyse Euronext to take control of Libor

Nyse Euronext has beaten off competition from financial information vendors to take control of the London Interbank Offered Rate.

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Thomson Reuters suspends early peeks at consumer data for HFT clients

Under pressure from the New York attorney general, Thomson Reuters has agreed to suspend its practice of providing high-frequency traders with market-moving consumer survey results a couple of seconds before the information is given to other subscribers.

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Deutsche Börse joins $20m funding round for cloud firm Zimory

Berlin-based cloud management software firm Zimory has raised $20 million in a funding round led by Deutsche Börse, with which it is working to build a trading venue for outsourced storage and computing capacity.

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London Stock Exchange to acquire Turquoise Derivatives

The London Stock Exchange is to acquire the derivatives business of Turquoise Global Holdings, in which it owns a 51% stake.

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Winklevoss twins to float $20 million bitcoin fund

Tyler and Cameron Winklevoss, most famous for their legal tangles with Facebook founder Mark Zuckerberg, have revealed plans to float a bitcoin trust.

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Deutsche Börse preps cloud computing exchange

Deutsche Börse has outlined plans to launch the world's first vendor neutral trading venue for outsourced storage and computing capacity.

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EC charges banks, Isda and Markit in CDS investigation

EC regulators say that 13 investment banks, the International Swaps and Derivatives Association (Isda) and Markit breached antitrust rules by colluding to prevent exchanges from entering the credit derivatives business.

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Australian investors cheer first anniversary of Chi-X

Australian investors have realised up to $215 million in net benefits since the arrival of Chi-X on the nation's shores busted the natural monopoly enjoyed by the Australian Securities Exchange (ASX).

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EU approves ICE take-over of Nyse Euronext

The European Commission has cleared the proposed $8.2 billion acquisition of Nyse Euronext by IntercontinentalExchange.

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Deutsche Bank to add 400 staffers to North Carolina software development centre

Deutsche Bank unit DB Global Technology has vowed to spend $13.5 million expanding its North Carolina software development centre, creating 431 new jobs.

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Binary option brokers bring in bitcoin trading

Binary options brokers SetOption and TradeRush have begun offering trading in bitcoin, giving speculators the chance to take advantage of the virtual currency's volatility.

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Aussie watchdog relaxes plans to constrain dark pools and HFT

The Australian securities market regulator Asic has shelved plans to introduce tougher rules on high frequency trading and dark pools following a dip in fleeting small orders by HFT traders and lower activity in dark markets.

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Icap invests in portfolio reporting and data analytics firm EFM

Interdealer broker Icap has made a strategic investment in Enso Financial Management (EFM), an early-stage provider of portfolio reporting and data analytics services to hedge funds and asset managers.

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SAP launches capital markets tech contest for students

IT giant SAP has launched a contest for American financial engineering university students, inviting them to pitch technology ideas that will help shape the future of capital markets.