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

Instinet tech chief Michael Bundy moves to Chi-X

Instinet has named its current chief technology officer Michael Bundy as the new technical head of Chi-X, its pan-European equity alternative trading system (ATS)

14 March 2007

News/MiFID

Reuters changes products to aid MiFID compliance

Reuters claims that modifications made to its existing technology, based on market consultation, will improve visibility of best aggregated price, handle post-trade publication and support transaction cost analysis (TCA).

12 March 2007

News/MiFID

IT teams still waiting for green light on MiFID projects

UK regulators say they will take a pragmatic approach to any minor non-compliance from member firms when the EU's Markets in Financial Instruments Directive (MiFID) formally comes into effect in November.

09 March 2007

News/MiFID

Equiduct completes first round funding; names Willy Van Stappen COO

Equiduct, the MiFID-ready pan-European trading platform headed by Bob Fuller, has completed a first round of funding and named LCH.Clearnet's Willy Van Stappen as chief operating officer as it gears up to launch market data services later this year.

22 February 2007

News/MiFID

ICMA to publish post-trade date online

The International Capital Market Association (ICMA) is gearing up to launch two new pilot services that will see post-trade information and data on large liquid bond dealings published online.

21 February 2007

News/MiFID

UK Treasury to overhaul tax and reporting for MiFID; compliance contractor pay skyrockets

The UK government has unveiled plans to modernise the tax system and refine reporting requirements in a bid to encourage greater competition to the London Stock Exchange (LSE) from new market entities following implementation of the EU's Markets in Financial Instruments Directive (MiFID).

20 February 2007

News/MiFID

Neovest provides access to 15 'dark liquidity' pools

JP Morgan direct market access subsidiary Neovest has established connectivity to 15 'dark pools' of liquidity - trading networks that do not publish quotes in the open market - alongside more traditional destinations.

16 February 2007

News/MiFID

EC launches MiFID Q&A Web site

The European Commission is launching an interactive Web site to provide financial services firms, investors and trade associations with information on implementing the recently finalised Markets in Financial Instruments Directive (MiFID).

14 February 2007

News/MiFID

LSE begins MiFID market consultation

The London Stock Exchange has started a detailed consultation on the services it plans to offer member firms to assist their compliance with the EU’s Markets in Financial Instruments Directive.

13 February 2007

News/MiFID

ITG to launch 'dark liquidity' crossing platform in Europe

New York-based Investment Technology Group (ITG) is establishing an off-exchange automated equities trading platform in Europe.

05 February 2007

News/MiFID

Euronext lays out MiFID trading strategy; Nasdaq talks up Turquoise threat

European exchange Euronext is to introduce a 'best execution' algorithm, real-time dissemination of off-orderbook trades and new transaction reporting services under preparations for the arrival of the EU-wide Markets in Financial Instruments Directive (MiFID).

01 February 2007

News/MiFID

Investment banking trade associations join forces in Europe

National investment banking lobby groups in the UK, France, Italy and Sweden are setting up a joint association in a bid to better argue their case and increase influence with European law-makers and regulators.

29 January 2007

News/MiFID

Microsoft launches MiFID package

Microsoft has launched a new package of software and services designed to help financial services firms comply with the EU's Markets in Financial Instruments Directive (MiFID), which is expected to come into force this November.

24 January 2007

News/MiFID

Investment bank consortia sift through technology options

The seven investment banks behind Project Turquoise - a pan-European equities trading platform that will compete with the region's exchanges - have stepped up their search for a vendor to build the system, while the nine-member Project Boat banking collective have settled on Markit and Cinnober as suppliers for a new trade reporting platform for European equities.

22 January 2007

News/MiFID

Lloyds TSB implements Odyssey technology for investment management platform

UK-based Lloyds TSB is implementing portfolio rebalancing and order management technology from Odyssey Financial Technologies to underpin a new Web-based investment management platform.

15 January 2007

News/MiFID

Finexpo to set the agenda for 2007

Algorithmic trading, preparations for MiFID and high performance computing issues figure prominently on the conference agenda at this year’s Finexpo, the free-to-attend City business and technology show organised by Finextra.

12 January 2007

News/MiFID

FPL releases FIX 5.0

FIX Protocol Ltd says production-ready final release of version 5.0 of the Financial Information eXchange Protocol (FIX) specification is now available.

05 January 2007

News/MiFID

OMX to halve trade reporting fees

The OMX Nordic Exchange has vowed to slash trade reporting fees in Stockholm, Copenhagen and Helsinki early next year, and to extend the system across European markets with the advent of the Markets in Financial Services Directive (MiFID) in November 2007.

20 December 2006

News/MiFID

SIA launches MiFID best execution verification tool

Italian banking technology vendor SIA is to launch a software tool for verifying and assessing 'best execution' requirements in securities transactions, in line with forthcoming compliance requirements under the Markets in Financial Instruements Directive (MiFID).

20 December 2006

News/MiFID

Plus Markets to raise £25m in placing

Plus Markets, the quote-driven alternative to the London Stock Exchange's SETSmm order taking system, is raising £25 million in a share placing which it will use to extend its market services, prepare for MiFID and strengthen its balance sheet.

13 December 2006