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News/Trade execution
In a move that marks the end of a seven-year presence as a recognised investment exchange in London for the Swiss group, SIX Swiss Exchange will close SWX Europe and reunify share trading in Zurich by mid-2009 in an effort to streamline operations and cut costs.
11 November 2008
New York-based broker-dealer Ballista Securities has begun live trading on its alternative trading system (ATS) for block options and delta neutral orders.
10 November 2008
Swedish automated trading software outfit Tbricks has raised EUR4 million from investors led by London-based venture capital firm DN Capital, which will be used to expand into Europe and the US.
BT has extended its low latency connectivity offering, Radianz Ultra Access, into Chicago.
Bank-backed trading network Turquoise claims to have hit its year-end forecasts two months early by achieving five per cent market share in the 310 stocks traded across its platform.
The Vienna Stock Exchange has acquired a 92.4% stake in the Prague Stock Exchange, seeing off an unwelcome approach from rival suitor the Warsaw Stock Exchange.
07 November 2008
GL Trade has reported Q3 revenue up 10.5% to EUR162.8m despite its front-office sales being hit in Europe and sales of its Tradix and Sierra solutions falling worldwide.
06 November 2008
The European Commission has set an end-year deadline for financial market participants to draw up a blueprint for the clearing of credit default swaps.
Australian financial software house GBST is to acquire London-based securities tech firm Coexis. Financial terms of the deal were not disclosed.
05 November 2008
The Tokyo Stock Exchange is to delay the launch of its next generation trading system from late 2009 to the first business day of 2010 following consultation with CIOs from major trading firms on the Exchange.
Nasdaq OMX has acquired Chicago-based Bloom Partners, a supplier of market intelligence services to public companies. Terms of the deal were not disclosed.
04 November 2008
Automated fixed income network Tradeweb is to become a full-service inter-dealer broker after acquiring US voice brokerage Hilliard Farber. Terms of the deal were not disclosed.
03 November 2008
The New Zealand Stock Exchange, the largest shareholder in the Bond Exchange of South Africa (Besa), has poured cold water over the Johannesburg Stock Exchange's proposed R173 million takeover of its compatriot.
To terminate its LCH.Clearnet clearing contract the London-based derivatives exchange owned by Nyse Euronext will make a one-time payment of EUR260 million.
31 October 2008
Former US ECN operator Bats Trading, now a registered US exchange, says its European multilateral trading facility (MTF) has gone live, initially offering trading in 10 UK-listed securities.
The London Stock Exchange moved a step closer to ending the uncertainty surrounding its proposals to launch a dark pool for pan-European equities trading by naming former Lehman staffer John Wilson as chief executive of Baikal.
30 October 2008
Merrill Lynch, Goldman Sachs, JPMorgan and Credit Suisse have taken a minority equity interest in ASP-based risk management and compliance outfit FTEN as the company looks to expand beyond the US.
IntercontinentalExchange is to acquire The Clearing Corporation of Chicago as it gears up for the launch of a central counterparty clearing system for the credit default swaps market in conjunction with nine global dealers.
Italian bank-backed interbank deposit and swaps mart e-MID has contracted with local software house List and BT Radianz to provide the backbone for its new electronic money market platform, servicing 258 member banks in 26 countries worldwide
29 October 2008
UK market data outfit Markit is working with the Tokyo Stock Exchange to explore opportunities for the creation of new financial indices and valuation services and the promotion of improved post-trade processing for over-the-counter derivatives in Japan.
28 October 2008
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