Trade execution

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Swift Trade loses appeal over £8m market abuse fine

Defunct day trading firm Swift Trade has lost its appeal against an £8 million fine for market manipulation handed down by the UK's Financial Services Authority in 2011.

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Slib upgrades IT infrastructure with IBM

Slib, a software publisher and Application Services Provider for the European financial services industry, has contracted IBM to help overhaul its IT infrastructure.

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Browser-based algo trading platform Quantopian emerges from beta

With funding from Spark Capital and Getco in the bag, Quantopian, a start-up building what it claims to be the world's first browser-based algorithmic trading platform, has emerged from beta.

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ConvergEx to sell Eze Castle Software and RealTick to TPG

ConvergEx is selling Eze Castle Software and RealTick to private equity firm TPG Capital. Financial terms of the all-cash deal were not disclosed.

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What is Mifid?

Stuart Clark, MD and Will Cawthorne, head of sales, both of Impendium examine the impact of Mifid and the coming of Mifid II on the European market.

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Nasdaq bids to become one of the world's leading technology organisations

Nasdaq OMX is to combine its Market Technology and Corporate Solutions businesses in an effort to reduce its reliance on stagnating stock market volumes and build "one of the top technology organisations in the world".

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Equiduct on the brink - FT

Pan-European electronic trading venue Equiduct could be forced to close down after being told that its largest shareholder Citadel Securities will stop market-making on the platform within weeks, according to press reports.

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Liquidity Alliance formed to tackle global collateral crunch

A group of five central securities depositories (CSDs) from around the world have formed a liquidity alliance designed to help solve the global collateral shortage prompted by the 2007 financial crisis and subsequent regulatory changes.

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Germany's HFT licensing plans draw market criticism

High-frequency traders and exchange operators have spoken out against German government plans to make HFT practitioners obtain prior authorisation to operate.

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SEC knocks back Nasdaq algo plans

The Securities and Exchange Commission has knocked back proposals by Nasdaq that would have allowed the exchange to compete with US brokers in the provision of algorithmic trading software tools.

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Twitter sentiment-based trading platform set for launch

The outfit behind a now-defunct Twitter sentiment-based hedge fund is bidding to tap the technology for a new online trading platform.

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Bats reveals system error has caused long term pricing problem

Bats Global Markets has warned traders that its systems have carried out hundreds of thousands of transactions over the last four years at prices that were not the best available.

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JPMorgan debuts new electronic client platform

JPMorgan has begun the roll-out of a new electronic multi-asset client trading system, consolidating more than 30 individual platforms into a single user interface.

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Nasdaq suffers data feed glitch

A technical glitch saw Nasdaq-listed stock prices and index levels freeze for around 15 minutes yesterday.

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That was the year that was

As Finextra pulls the shutters down on 2012, we take a look back at our most popular news stories, videos, features and blogs over the course of the past year. The site will re-open for business on 2 January 2013.

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European Commission approves revised RICs licensing from Thomson Reuters

The European Commission has approved new licensing proposals from Thomson Reuters for the use of Reuters Instrument Codes (RICs), ending a prolonged anti-trust investigation.

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ICE to acquire Nyse Euronext for $8.2bn; LSE/LCH.Clearnet talks rumble on

IntercontinentalExchange (ICE) has agreed an $8.2 billion deal to acquire Nyse Euronext in a stock-and-cash transaction.

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Getco emerges as victor in Knight Capital bid battle

Getco has emerged as the winner in a two-way bidding war to take over Knight Capital, beating out rival Virtu with an improved £1.2 billion cash and shares offer.

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Nasdaq forced to cancel trades

Nasdaq OMX was forced to cancel pre-market trades in nine stocks, including Citi and Goldman Sachs, yesterday after they caused huge price swings.

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Oz regulator chooses First Derivatives market surveillance system

The Australian Securities and Investment Commission (Asic) has selected First Derivatives to design, build and host a new market surveillance system.