Trade execution

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/Trade execution

Nyse Euronext and Bloomberg promote open standard for securities codes

Nyse Euronext is to join with Bloomberg in promoting the market data vendor's open source securities identifier initiative.

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SEC to build IT Forensics Lab

The US Securities and Exchange Commission is to build a new 'state-of-the-art IT Forensics Lab' after admitting that successive technology budget cuts between 2005 and 2007 severely constrained its ability to effectively police the markets.

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Post-MiFID fragmentation inviting more market abuse - Avenues

The post-MiFID fragmentation of exchange trading and data has substantially increased the potential for market abuses, according to a new advisory group set up to look at the issue.

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Goldman offers 1Click algo access

Goldman Sachs is to offer clients streamlined '1Click' access to its suite of algorithmic trading programs in a global effort to improve ease of use and create consistency across its e-trading portfolio.

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Misra to head new algo trading technology firm

Hirander Misra, former chief operating officer of Chi-X Europe has resurfaced as CEO and founding director of new firm Algo Technologies.

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Film futures exchange set for launch

US firm Media Derivatives claims it will pip rival Cantor Fitzgerald to launch the first electronic futures exchange for trading movie box office receipt contracts.

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Tullett Prebon in takeover talks

Shares in Tullett Prebon have jumped 17% after the UK interdealer broker confirmed that it was in talks with a potential acquirer.

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Turquoise confirms management line up

The new management team at Turquoise has been confirmed, with CEO David Lester joined by Baikal head of technology Mark Ryland.

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UBS plans European dark pool

Swiss bank UBS is planning to launch a dark pool multilateral trading facility (MTF) for crossing orders in European stocks.

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LSE sells nine per cent stake in Turquoise

The London Stock Exchange (LSE) has sold nine per cent of its 60% stake in the merged Turquoise and Baikal businesses to Barclays, JP Morgan Cazenove and Nomura, with each bank paying £1 million for a three per cent stake.

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Deutsche Börse Systems taps open source for real-time risk

Deutsche Börse's IT unit is working with open source vendor Red Hat as it bids to enable real-time transaction risk management for financial services clients.

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Major dealers outline next steps in OTC clean-up

The Federal Reserve Bank of New York has welcomed commitments by 14 major dealers to ramp up efforts to cut risks and improve post-trade automation and transparency in the over-the-counter derivatives markets.

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Frankfurt Stock Exchange to eliminate the floor and go all electronic

The Frankfurt Stock Exchange is set to end floor trading by 2012 and go exclusively electronic with the Deutsche Börse Xetra platform.

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MSCI to buy RiskMetrics in $1.55bn deal

Investment analysis and index firm MSCI has agreed a deal to acquire the rival RiskMetrics Group in a cash and stock deal worth $1.55 billion.

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Hollywood Stock Exchange preps for launch

Cantor Fitzgerald is set to launch an electronic futures exchange in April that lets traders hedge and speculate on the financial performance of movies.

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Misra quits as Chi-X COO

Hirander Misra, chief operating officer of Chi-X Europe, has quit the mutlilateral trading facility to "pursue other interests".

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Post-trade automation top priority for FX traders and hedgies

The credit crisis and rise of electronic trading have led to a fundamental shift in the global foreign exchange market towards risk mitigation over the last couple of years, according to research from CME Group.

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Bloomberg adds trending metrics to machine-readable news service

In a bid to attract high-frequency traders, Bloomberg has expanded its machine-readable news output to offer trending analytics on the hottest content passing over its terminals.

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Lester pushes aside Lederman and Wilson to take Baikal/Turquoise hot seat

The London Stock Exchange has completed the acquisition of Turquoise Trading and installed former LSE CIO David Lester as chief executive, ahead of Turquoise incumbent Eli Lederman and Baikal CEO John Wilson.

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Nasdaq OMX ups Agora-X stake to 85%

Nasdaq OMX has upped its stake in Agora-X, an ECN for trading over-the-counter (OTC) commodity contracts, from 20% to 85% through a $6.6 million investment.