Trade execution

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/Trade execution

Nyse Euronext to implement 100G network with Ciena

Transatlantic exchange operator Nyse Euronext is to implement a new high-speed, ultra-low latency trading and market data network as part of a major data centre upgrade project in New York and London.

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LCH.Clearnet slashes clearing costs

LCH.Clearnet is to slash its fees by a third as it responds to the arrival of fresh competition inspired by an EU-mandated Code of Conduct for European clearing agreed last year.

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Nyse Euronext to cut stake in Qatar venture as Q1 profit slumps

Nyse Euronext has restructured its planned investment in a Qatar exchange as turbulent markets and fierce pricing amid increasing competition contributed to a 55% slump in first quarter profits.

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DTCC calls off LCH.Clearnet merger

The Depository Trust and Clearing Corporation has called off its pursuit of LCH.Clearnet after the parties failed to reach agreement over a proposed transatlantic merger.

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Nyse Arca Europe joins competitors on common stock symbology development

Recently launched MTF Nyse Arca Europe has joined Bats, Chi-x, Nasdaq OMX and Turquoise as the fifth member of an industry working group set up to develop and maintain a uniform symbology framework for European equities.

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Fidessa spots first 'green shoots'

Trading systems outfit Fidessa is reporting "early signs of recovery in the market" in its interim management statement and is tentatively forecasting growth towards the higher end of current market forecasts for the rest of the year.

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IBM forecasts 'new world order' for financial services

An IBM survey of over 2750 banking executives worldwide forecasts a new world order for the financial services industry, characterised by a shift to specialisation, more transparency and lower overall returns.

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SIX Swiss Exchange completes migration to new platform

SIX Swiss Exchange has completed member migration to its new SWXess platform, which went live in February.

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Asian equity electronic trading revenues to sink in 2009 - Tabb

Equity electronic trading revenues in Asia Pacific are set to see a 17% fall this year, with liquidity sinking during the downturn, according to research from Tabb Group.

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CDS clearing plans badly flawed say researchers

Proposals to reduce risk in the trading of credit default swaps through the introduction of central counterparty clearing are badly flawed, according to research conducted at the Stanford Graduate School of Business.

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Chi-X to launch dark pool

Chi-X Europe is to launch a dark liquidity pool in Q2 2009, subject to regulatory approval.

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Fidessa scoops Baikal technology contract

The London Stock Exchange has partnered with trading technology house Fidessa to build the order management and smart routing technology for Baikal, the LSE's forthcoming pan-European dark pool.

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LSE head of equity markets quits as new CEO prepares for management 'streamlining'

The London Stock Exchange's director of equity markets, Martin Graham has quit ahead of a move to streamline the bourse's management structure under incoming CEO Xavier Rolet.

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Iraq Stock Exchange migrates to electronic system

The Iraq Stock Exchange has begun the move to electronic trading, with five of the bourse's 91 companies migrating to a new system yesterday.

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Deutsche Börse plans pan-European market

Deutsche Börse is set to launch a pan-European market, based on its Xetra electronic trading platform, as it looks to take on the raft of new competitors to have emerged in the wake of MiFID.

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Nyfix amends Euro Millennium matching algorithm in response to FSA clampdown

Nyfix has amended the matching algorithm on its Euro Millennium dark pool to limit crossing at the mid-point of the reference market price in an effort to comply with a new interpretation of the MiFID rulebook by the UK's Financial Services Authority.

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Oddo & Cie deploys Chi-Tech trading platform

Independent agency brokerage Oddo & Cie has rolled out an algorithmic trading infrastructure platform from Chi-Tech, the technology services unit recently formed by Chi-X.

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NZX looks to buy energy market operator M-co

The New Zealand Stock Exchange (NZX) has reached a conditional agreement to buy energy market operator The Marketplace Company (M-co). Financial terms were not disclosed.

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LSE abandons exchange traded CFDs project

The London Stock Exchange (LSE) has abandoned plans to launch an exchange traded contract for difference (ETcfds) service following discussions with bank and broker clients.

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Fidessa doubles throughput rates with new Intel chipset

Fidessa is reporting trading transaction throughput tests on the new Intel Xeon 5500 chipset running twice as fast as on current industry standard kit, with comparatively lower power consumption.