Latest Trade execution News: Finextra Research

MTFs set to win more market share as price competition takes hold

Trading on new multilateral trading facilities (MTFs) in Europe costs less than a fifth of the fees levied by traditional exchanges according to the latest research from TowerGroup.

19 February 2009

News/Trade execution

Swiss Exchange starts migration to new trading platform

SIX Swiss Exchange has gone live with its new SWXess modular trading platform, starting a migration period that gives member banks until April 9 to move off the old SWX platform. Swiss Bank BEKB | BCBE has become the first bank to connect to the FIX-based standard interface module, using the GLOX7 trading connectivity solution from GlobalXTrade.

18 February 2009

News/Trade execution

NYSE Euronext completes migration to Universal Trading Platform

NYSE Euronext has migrated trading of all European equities, including exchange-traded fund (ETF) products, listed on the company's Amsterdam, Brussels, Lisbon and Paris markets to its next-generation Universal Trading Platform from the pervious Nouveau Système de Cotation (NSC) platform.

17 February 2009

News/Trade execution

CESR finds huge variation in fines for MiFID non-compliance

The Committee of European Securities Regulators (CESR) has published a review of supervisory powers and practices, and administrative and criminal sanctioning regimes across Europe in relation to MiFID. It found greater convergance of approaches to regulating markets and MTFs than for investment firms. And it found administrative and criminal fines for non-compliance with the directive differ massively from country to country.

17 February 2009

News/Trade execution

Fidessa beats revenue/profit forecasts

Shares in UK-based Fidessa have jumped as the dealing systems vendor posted better than expected full-year revenue and profit.

16 February 2009

News/Trade execution

LCH.Clearnet to develop eurozone clearing house for credit default swaps

LCH.Clearnet has announced plans to launch a clearing service for credit default swaps in the Eurozone by December 2009.

13 February 2009

News/Trade execution

Former Lehman man Rolet to take LSE helm; Chi-x makes new hires

The London Stock Exchange has confirmed the appointment of Xavier Rolet as its next chief executive. The former Lehman Brothers man will take over from Clara Furse in mid-May.

13 February 2009

News/Trade execution

Finextra launches Innovation Showcase

Finextra has launched the Innovation Showcase, a new feature on Finextra.com highlighting the most innovative financial technology developments over the past 12 months. Across a broad range of categories it showcases technologies that demonstrate uniqueness and impact, clever ways of solving a problem and projects at the leading edge of new industry trends.

11 February 2009

News/Trade execution

Patsystems beats expectations

Shares in screen dealing vendor Patsystems rose by more than ten per cent after the UK-based company beat market expectations with a 15% rise in revenue and 23% increase in pretax profit for the full year 2008.

10 February 2009

News/Trade execution

Quote MTF to enter pan-European trading market

The crowded European market for stock exchange trading will welcome another new liquidity platform in the coming months with the summer launch of Quote MTF, an upstart independent venue operating out of Hungary.

09 February 2009

News/Trade execution

Brazil's Ágora Corretora deploys Progress Apama for algo trading

Brazilian broker Ágora Corretora de Titulos e Valores Mobiliarios has rolled out Massachusetts-based Progress Software's Apama complex event processing (CEP) platform to support algorithmic equities trading.

06 February 2009

News/Trade execution

Korea Exchange doubles capacity, cuts latency on Unix platform upgrade

The Korea Exchange (KRX), the world's second largest derivatives exchange, has commenced member testing of a modern, faster version of its trading platform, in anticipation of a rise in business stemming from the introduction of the country's Capital Market Consolidation Act.

06 February 2009

News/Trade execution

Ex-Lehman man Rolet favourite for LSE chief role - FT

Former Lehman Brothers banker Xavier Rolet has emerged as the frontrunner to replace Clara Furse as chief executive of the London Stock Exchange (LSE), according to press reports.

06 February 2009

News/Trade execution

HSBC and JPMorgan join SwapClear; DTCC hits back at LCH.Clearnet critics

HSBC and JPMorgan have become shareholders of OTCDerivNet, the company which provides strategic direction to LCH.Clearnet's SwapClear service.

03 February 2009

News/Trade execution

SIX- x-clear and EMCF to offer competitive clearing

SIX x-clear and Dutch central counterparty EMCF have signed a Memorandum of Understanding to offer competitive clearing across multiple stock exchange venues.

03 February 2009

News/Trade execution

LSE to press on with Baikal build as solo venture; names Ryland as CTO

The London Stock Exchange has appointed Mark Ryland as chief technology officer of Baikal, its forthcoming pan-European dark liquidity trading venue.

03 February 2009

News/Trade execution

Icap-led consortium preps counter-bid for LCH.Clearnet

UK interdealer broker Icap is part of a consortium of firms mulling a bid for LCH.Clearnet, in a move that could destabilise an agreed takeover of the London clearing house by the US-based Depository Trust and Clearing Corporation.

02 February 2009

News/Trade execution

DTCC plans real-time trade guarantee

The Depository Trust & Clearing Corporation (DTCC) has outlined plans to implement a real-time trade date guarantee for equity and corporate and municipal bond transactions, as it looks to ease concerns among market participants over security of settlement.

29 January 2009

News/Trade execution

SmartPool greenlighted by FSA; to begin trading next week

SmartPool, the new multi-lateral trading facility (MTF) set up by Nyse Euronext, BNP Paribas, HSBC and JPMorgan, has received Financial Services Authority (FSA) approval to launch its dark pool for block trading in European stocks.

28 January 2009

News/Trade execution

Quadriserv and Eurex Clearing team on transatlantic CCP for securities lending

Eurex Clearing is partnering North America's Quadriserv to offer central counterparty (CCP) clearing and settlement services for securities lending of European equities.

27 January 2009