Trade execution

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/Trade execution

Equiduct rescued by new investors

Pan-European exchange Equiduct has been rescued from the brink of oblivion by a group of new investors after its largest shareholder Citadel pulled its backing from the platform.

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CBOE under pressure following software bungle

A badly bungled systems reconfiguration at the Chicago Board Options Exchange that shut down trading for three-and-a-half hours last week is set to increase pressure on the CBOE to let rival exchanges trade its proprietary options products.

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Live blog: Swift Business Forum - London 2013

Returning for its third year, the Swift Business Forum London brings together over 700 financial services professionals to explore the key challenges and opportunities facing our industry today. Finextra is liveblogging events here.

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Google search volumes can predict markets - study

Analysing how often key finance-related words are searched for using Google could help predict stock market moves, a new academic paper suggests.

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Dark pool trading accelerating says Bloomberg

Agency brokerage Bloomberg Tradebook is reporting an accelerating trend among market participants to execute their trading strategies in dark pools, away from the glare of lit markets.

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Finra pushes for Wall Street exemption from social media monitoring rules

US securities regulators are seeking an exemption for some financial firms to state laws banning employers from monitoring the Facebook and Twitter accounts of their staffers.

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AP Twitter hack sparks share sell off

The Dow Jones briefly plummeted yesterday after hackers took control of the Associated Press's Twitter account and used it spread a bogus claim that the White House had been hit by a terrorist attack.

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Nyse Euronext sues Dutch MTF TOM

Nyse Euronext is suing Dutch MTF The Order Machine (TOM) for listing options based on the AEX index without a licence.

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CME Group blames bug for swaps data leak

CME Group says that a software bug at its swaps data repository earlier this month allowed some traders to see confidential details on hundreds of transactions.

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Data management key to market surveillance - Iosco

The technology-driven revolution in securities markets in recent years requires regulators to overhaul their surveillance operations with a focus on the micro-management of trade data, says a report from the International Organization of Securities Commissions (Iosco).

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Bats Chi-X Europe names Equiduct's Howson COO

Pan-European equities exchange Bats Chi-X Europe has hired one of the founders of rival platform Equiduct, David Howson, as chief operating officer.

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FSB moots development of global trade data utility

The Financial Stability Board has mooted the creation of a central utility for sharing aggregated trade data, as evidence mounts that national jurisdictions are lagging in implementing OTC derivatives trading reforms.

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Tradition launches spot FX trading platform

Tradition has launched ParFX, a spot forex trading platform with the backing of 11 major banks, including Barclays and UBS.

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Bloomberg sues CFTC over swaps margin rule

Bloomberg has filed a lawsuit against a US derivatives regulator over new margin rules that differentiate between swaps and futures.

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Fidessa shares slide on warning of flat 2013

Shares in Fidessa fell more than five per cent in morning trading after the fintech vendor warned that continuing tough market conditions will make growth "challenging".

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US exchanges push SEC on dark pool curbs

The bosses of three major US exchanges met regulators yesterday to voice their concern about the amount of trading moving away from their public venues to private platforms such as dark pools.

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Coinsetter raises $500k for bitcoin FX trading platform

New York-based start-up Coinsetter has raised $500,000 in seed funding as it prepares to launch its forex trading platform for bitcoin.

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FXCM makes Gain Capital takeover offer

Online foreign exchange trading platform FXCM has offered to buy rival Gain Capital for $210.4 million in stock.

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Citi files Nasdaq OMX compensation claim over Facebook IPO

Citi has filed a claim with Nasdaq OMX to receive compensation relating to the exchange operator's botched Facebook IPO but has not ruled out further legal action, according to Reuters.

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Ex-Goldman trader pleads guilty to wire fraud

A former Goldman Sachs trader has pleaded guilty to fabricating trades on a manual system to hide an unauthorised $8.3 billion futures bet.