Keyword

MiFID

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Banks to launch European derivatives exchange

Banks to launch European derivatives exchange

Following the establishment of the bank-backed European equities trading platform Turquoise, a group of seven global investment banks are now gearing up to a launch a pan-European financial derivatives exchange - dubbed Project Rainbow - that will compete with the region's established markets, including Liffe and Eurex.

06 February 2008

EU to prosecute MiFID laggards

EU to prosecute MiFID laggards

The European Commission (EC) says it is referring Spain, Poland and the Czech Republic to the European Court of Justice for failing to transpose the Markets in Financial Instruments Directive (MiFID) in national law.

01 February 2008

Rhyme Systems acquires Exact Technical Services

Rhyme Systems acquires Exact Technical Services

UK asset management software vendor Rhyme Systems has signed a definitive agreement to acquire Exact Technical Services (Exact), a provider of MiFID compliant stockbroking systems to investment managers. Financial terms of the deal were not disclosed.

30 January 2008

Turquoise recruits Detica and Progress to build market surveillance system

Turquoise recruits Detica and Progress to build market surveillance system

Turquoise, the bank-backed equities trading platform that is being set up to compete with the domestic stock exchanges in Europe, is teaming with Nasdaq-listed Progress Software and London-based consultancy Detica to offer a real-time trading surveillance system.

28 January 2008

Markit buys Boat

Markit buys Boat

UK market data vendor Markit has confirmed that it has acquired the Boat MiFID-compliant trade reporting platform from the consortium of nine investment banks that launched the system in September 2006. Financial terms of the deal have not been disclosed.

22 January 2008

Banks to sell stakes in Boat venture to Markit - report

Banks to sell stakes in Boat venture to Markit - report

The City investment banks that set up the MiFID-compliant trade reporting system Boat are selling their stakes in the venture to Markit, the market data vendor that manages the platform, according to press reports.

21 January 2008

Börse Berlin selects KTS to develop Equiduct Trading market data portal

Börse Berlin selects KTS to develop Equiduct Trading market data portal

Börse Berlin has recruited London-based Knowledge Technology Solutions to develop and host a Web portal that will provide access to prices from the MiFID-compliant pan-European platform, Equiduct Trading.

16 January 2008

Turquoise chief Lederman to keynote at Finexpo

Turquoise chief Lederman to keynote at Finexpo

Eli Lederman, the newly-installed chief executive of bank-backed equities trading venue Turquoise, is among a roster of top-level keynote speakers participating in this year's Finexpo, the capital markets industry's leading technology conference and exhibition, taking place at The Brewery, Chiswell Street, London on 30 January.

11 January 2008

Banks, trading firms take minority stake in Chi-X

Banks, trading firms take minority stake in Chi-X

A group of 13 banks and trading firms has taken a minority equity stake in Instinet's MiFID-compliant alternative trading facility, Chi-X Europe.

10 January 2008

Turquoise names Farnham COO; Higgins head, client relationship management

Turquoise names Farnham COO; Higgins head, client relationship management

Bank-backed equities trading facility Turquoise has named Adrian Farnham as its chief operating officer (COO) and has appointed Duncan Higgins as head of client relationship management.

17 December 2007

Virt-x and Nyfix to launch block trading service for Swiss blue-chips

Virt-x and Nyfix to launch block trading service for Swiss blue-chips

Virt-x, the London-based securities exchange and subsidiary of SWX Group, and Nyfix have signed an agreement to jointly deliver a non-displayed block trading service for Swiss blue-chip equities. The service will be owned and operated by virt-x and powered by Nyfix Euro Millennium, the neutral multi-lateral trading facility (MTF) scheduled to launch in the first quarter of 2008.

04 December 2007

BNP Paribas to provide post-trade processing for Nyfix dark liquidity ATS

BNP Paribas to provide post-trade processing for Nyfix dark liquidity ATS

French banking group BNP Paribas has agreed a deal to provide pan-European post trade services for Nyfix's Euro Millennium, an off-exchange trading system for listed cash equities that is expected to launch in early 2008.

26 November 2007

Landsbanki Kepler deploys GL Trade's MiFID package

Landsbanki Kepler deploys GL Trade's MiFID package

Landsbanki Kepler, the European investment banking arm of Iceland's Landsbanki Group, is using technology from French dealing systems vendor GL Trade to comply with the EU's Markets in Financial Instruments Directive (MiFID).

22 November 2007

Icap to apply for exchange status

Icap to apply for exchange status

Interdealer broker Icap has disclosed plans to establish an exchange-based business in Europe and says it has applied to the UK's Financial Services Authority (FSA) for the status of a regulated market under the EU's new Markets in Financial Instruments Directive (MiFID).

20 November 2007

MTFs to take 20% of European trading volume - Aite Group

MTFs to take 20% of European trading volume - Aite Group

A new study from Boston-based consultancy Aite Group predicts rapid take-up of multilateral trading facilities (MTFs) in Europe following the introduction of MiFID, with volumes on alternative systems expected to increase steadily from around three per cent at the end of 2007 to over 20% by the end of 2011.

14 November 2007

Turquoise appoints Yann L'Huillier CTO

Turquoise appoints Yann L'Huillier CTO

Bank-backed equities trading facility Turquoise has named Yann L'Huillier - currently chief information officer at the Boston Stock Exchange (BSE) - as chief technology officer (CTO) of the venture.

13 November 2007

Nyfix Q3 losses widen

Nyfix Q3 losses widen

Struggling US trading technology vendor Nyfix is reporting higher losses for the third quarter as its business continues to be hit by restructuring expenses as well as rising start-up costs for its Euro Millennium ATS.

09 November 2007

French firms subscribe to Avox MiFID classification service

French firms subscribe to Avox MiFID classification service

French firms Calyon, CM CIC Securities and Société Général Corporate and Investment Banking have signed up to the MiFID classification service provided by Deutsche Börse subsidiary Avox.

05 November 2007

Equiduct standardises on Tibco's Rendezvous

Equiduct standardises on Tibco's Rendezvous

Equiduct, the MiFID-ready pan-European platform, has standardised its electronic trading infrastructure on Tibco's messaging technology, Rendezvous.

01 November 2007

EuroCCP names Citi's Diana Chan CEO; Merrill's Trevor Spanner COO

EuroCCP names Citi's Diana Chan CEO; Merrill's Trevor Spanner COO

EuroCCP - the DTCC clearing and settlement subsidiary that will provide services to Project Turquoise - has named Citi's Diana Chan as its new CEO and Trevor Spanner from Merrill Lynch as COO.

01 November 2007