Latest Trade execution News: Finextra Research

Burgundy back online after outage shuts down trading

Nordic multilateral trading facility Burgundy is back online after being forced to shut down Tuesday because of technical issues with its FIX engine.

03 June 2009

News/Trade execution

ICE Trust backers accused of freezing out rival CME-led clearing house

Major derivatives dealers have been accused of "filibustering" to protect their ogilopoly by withholding support from buy-side-friendly rivals to the InterContinental Exchange's credit default swaps clearing house.

02 June 2009

News/Trade execution

Plus and London Stock Exchange settle AIM dispute

Plus Markets has dropped its legal action over restrictions on trading in stocks listed on the junior AIM market, after reaching an out-of-court settlement with the London Stock Exchange.

29 May 2009

News/Trade execution

LCH.Clearnet to extend SwapClear to hedge funds and asset managers

LCH.Clearnet is moving to meet regulatory demands for improved risk management in the over-the-counter derivatives markets by extending its interest rate swap clearing service, SwapClear, to the broader buy-side trading community.

27 May 2009

News/Trade execution

Tokyo Commodity Exchange CEO takes pay hit over trading outage

The president and CEO of the Tokyo Commodity Exchange (Tocom), Masaaki Nangaku, has voluntarily taken a 10% hit on his pay for the month following the system outage which recently forced a suspension of trading.

27 May 2009

News/Trade execution

Chi-X Europe dark pool launches

Multilateral trading facility Chi-X Europe has launched its dark liquidity pool, Chi-Delta.

26 May 2009

News/Trade execution

Japan to build CCP for OTC derivatives trading

Japan Securities Clearing Corporation (JSCC) has announced plans to develop a central clearing counterparty for interest rate swaps and credit default swaps.

22 May 2009

News/Trade execution

ICE adds RBS and readies for Europe launch: RBA calls for expansion of CDS clearing to Australia

IntercontinentalExchange has added Royal Bank of Scotland to its roster of clearing members and confirmed that it will be ready to launch its credit default swaps clearing counterparty in Europe by July.

20 May 2009

News/Trade execution

LSE slides into the red on Borsa Italiana charge; mulls new sub-millisecond tech platform

The London Stock Exchange has reported a net loss of £338 million for the year ending March 2009 after taking a goodwill impairment charge of £484 million on its acquisition of Borsa Italiana.

20 May 2009

News/Trade execution

UBS to launch Hong Kong dark pool

Swiss bank UBS is launching its Price Improvement Network (Pin) dark pool trading venue in Hong Kong.

18 May 2009

News/Trade execution

Turquoise to launch liquidity aggregation service

Bank-backed equity trading venue Turquoise is set to launch a liquidity aggregation and order routing service after getting the go-ahead from the Financial Services Authority (FSA).

18 May 2009

News/Trade execution

US regulatory reforms to drive automation in OTC trading

The US Treasury has proposed a series of regulatory reforms designed to improve transparency in over-the-counter derivative trading and encourage a market-wide shift to exchange-based electronic platforms.

14 May 2009

News/Trade execution

LCH.Clearnet looks to deal with bidding consortium

LCH.Clearnet has responded to last week's EUR830 million offer from a consortium of banks and Icap by indicating its willingness to interweave elements of the bid with its own restructuring plans. Meanwhile, the clearing house is also set to restructure its technology platform in a bid to save millions of euros a year.

13 May 2009

News/Trade execution

Nasdaq OMX sells Orc Software stake

Market operator Nasdaq OMX has divested its 25% stake in Swedish derivatives trading technology company Orc Software through an accelerated bookbuilding offering.

13 May 2009

News/Trade execution

Tokyo Commodity Exchange trading halted after new platform hit by glitch

Connectivity problems forced the Tokyo Commodity Exchange (Tocom) to suspend all trading for over three hours today, just a month after a new technology platform developed by Nasdaq OMX went live.

12 May 2009

News/Trade execution

Advent spends $170.6 million for 30% stake in Brazilian depository

Private equity firm Advent has bought a 30% stake in Brazilian fixed income and OTC derivatives clearing house Cetip, from a number of local financial-market participants.

11 May 2009

News/Trade execution

Icap consortium makes EUR830m LCH.Clearnet bid - FT

A consortium of 11 banks and interdealer broker Icap has launched an EUR830 million bid for LCH.Clearnet just weeks after the Depository Trust and Clearing Corporation called off its pursuit of the London clearing house, according to the Financial Times.

11 May 2009

News/Trade execution

Goldman Sachs, Morgan Stanley and UBS in European dark pool pact

Goldman Sachs, Morgan Stanley and UBS have agreed a deal that will allow their clients to access each bank's European dark pools.

08 May 2009

News/Trade execution

Direct Edge to convert to stock exchange status

US stock trading venue Direct Edge has filed applications with the Securities and Exchange Commmission to convert into two national securities exchanges later this year.

08 May 2009

News/Trade execution

LCH.Clearnet agrees competitive clearing deals

Just days after revealing swinging price cuts, LCH.Clearnet has stepped up the pressure on rivals by agreeing new competitive clearing offerings for European MTFs Bats Europe, Chi-X, Turquoise and Nyse Arca Europe.

07 May 2009