Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

New clearing code to abolish cross-border barriers

The European Commission is ready to endorse a set of industry-agreed guidelines to remove national domestic barriers to share trading platforms and establish interoperability between clearing and settlement organisations in Europe.

04 July 2007

News/MiFID

OMX set to land Turquoise technology contract

Nordic and Baltic market operator OMX is in advanced discussions to become the sole technology provider for Project Turquoise, the bank-backed equities trading platform that will compete head-to-head with domestic stock exchanges in Europe.

25 June 2007

News/MiFID

LSE unveils MiFID offering

The London Stock Exchange (LSE) has formally unveiled a package of services that it will offer member firms to assist their compliance with the EU's Markets in Financial Instruments Directive (MiFID) which comes into force in November.

21 June 2007

News/MiFID

Nyfix to launch dark liquidity ATS in Europe

US trading technology vendor Nyfix is launching Euro-Millennium, an off-exchange alternative trading system (ATS) for pan-European listed cash equities, later this year.

18 June 2007

News/MiFID

Borsa Italiana looks for data centre savings from HP Cluster Platform

Italian exchange operator Borsa Italiana has deployed blade server architecture from Hewlett Packard (HP) to consolidate its server systems and reduce energy costs at its data centres.

13 June 2007

News/MiFID

Top banks sign for Boat trade reporting platform

Barclays Capital, BNP Paribas, Dresdner Kleinwort, JPMorgan and Royal Bank of Scotland have signed up to use the Boat European trade reporting platform to meet the pre and post trade reporting requirements of MiFID.

07 June 2007

News/MiFID

OMX launches low latency proximity service

The OMX Nordic Exchange is introducing a 'proximity service' that facilitates algorithmic trading by allowing its customers to house order management applications within its trading and market data infrastructure.

23 May 2007

News/MiFID

Swiss exchange units to merge

Switzerland's three bank-owned exchange businesses - the SWX Swiss Exchange, SIS and Telekurs - have signed a letter of intent to combine their operations into a single streamlined organisation that will provide clients with one-stop securities trading services.

15 May 2007

News/MiFID

OMX inks Plus Markets technology deal

Plus Markets, the quote-driven trading system for AIM-listed stocks, has signed a £6.7 million deal with Sweden's OMX for the supply of trading and market surveillance technology that will support a major expansion in the number of contracts traded on its platform.

30 April 2007

News/MiFID

Firms falling behind on MiFID

Only 13% of financial services firms are confident that they are on track to meet new MiFID regulations, according to research conducted by SunGard.

25 April 2007

News/MiFID

EU laggards face prosecution for MiFID failures

EU internal markets commissioner Charlie McCreevy has threatened infringement proceedings against 24 European member states that have yet to implement the Markets in Financial Instruments Directive (MiFID) in national law.

24 April 2007

News/MiFID

Project Turquoise banks select EuroCCP for clearing and settlement

The consortium of seven investment banks behind Project Turquoise - the new pan-European equities trading platform that is being established in response to MiFID - has selected DTCC subsidiary EuroCCP to provide clearing and settlement services for the new venture.

18 April 2007

News/MiFID

Instinet rolls out MiFID-ready Chi-X platform; seeks equity partners

Interagency broker Instinet is touting for equity partners for its new pan-European MiFID-compliant equity alternative trading system (ATS) Chi-X, which is now in live production for the trading, clearing and settlement of Dutch and German stocks.

16 April 2007

News/MiFID

Tech vendors form MiFID alliance

A consortium of technology vendors, led by Sun Microsystems and Avitis, are forming a pan-European alliance that aims to help financial services firms comply with the European Union's Markets in Financial Instruments Directive (MiFID) which comes into force in November.

12 April 2007

News/MiFID

BT Radianz and Colt to provide connectivity to Boat trade reporting platform

BT Radianz and Colt have been selected to provide connectivity and infrastructure hosting services for Project Boat, the European trade reporting platform that is being established by nine City investment banks.

04 April 2007

News/MiFID

Euronext sets out plans for high-speed trading

Euronext has firmed up plans to boost capacity and offer high-speed low-latency trading access for its cash and derivatives markets.

02 April 2007

News/MiFID

Financial technology spending on the rise in 2007

IT spending by wholesale financial services institutions has increased significantly this year, particularly on risk managment and payments systems, according to a global study by Datamonitor.

29 March 2007

News/MiFID

UK watchdog to step up monitoring of commodities

The UK's Financial Services Authority is to step up its oversight of the commodities market in the wake of a substantial bull run which it claims has raised risk levels for all market participants.

26 March 2007

News/MiFID

SunGard launches 'MiFID Hub'

SunGard has launched a new system designed to help financial services firms meet the increased recordkeeping requirements imposed by the EU's Markets in Financial Instruments Directive (MiFID) which comes into force in November.

26 March 2007

News/MiFID

Plus Markets narrows losses; increases turnover

Plus Markets, the quote-driven alternative to the London Stock Exchange's SETSmm system, is reporting a narrowing of full year losses and increased turnover for 2006 but says plans for increased spending on infrastructure will impact its profitability in the current year.

23 March 2007