Investment Technology Group plans to offer its POSIT Marketplace platform in Australia within the next 30 days, according to Clare Rowsell, head of client relationship management for Asia.
NYSE Liffe Clearing is in the process of overhauling its 20-year-old futures clearing system in order to make it more efficient and increase the level of built-in automation.
As pundits prophesized the doom of independent research following the expiration of the Global Research Settlement last year, Argus Research, one of the largest and best-ranked indies, kicked into high gear to find new ways of bringing in revenue.
The Futures Industry Association wrapped up its 35th Annual International Futures Industry Conference last week in a rainy Boca Raton where regulators, industry professionals, brokerage and exchange executives, operations and technology officers and more gathered to discuss the latest industry news, initiatives and trends.
Credit Suisse's Crossfinder, Goldman Sachs' Sigma X and Knight Capital's Knight Link have secured the most market share among dark pools, according to Rosenblatt Securities. Crossfinder and Barclays' LX were two of the biggest year-to-year market share gainers.
Primary Global Research, is touting a new service that lets clients communicate directly with experts at the drop of a hat, rather than at times set way in advance.
BNP Paribas Securities Services has launched a listed derivatives clearing platform in the U.S., the first time it has made such third party services available in the region.
BNY ConvergEx is attempting to limit the barrage of indications of interest buy-side firms receive, which can amount to several thousand messages a day on stocks they don't care to trade.
The Bank Of New York Mellon is nearing the final phase of a months-long process to enhance its internal fund of funds workflow within its Alternative Investment Services (AIS) group.
NYSE Euronext is planning a service to help floor brokers analyze their algorithm performance, the first such service from an exchange.
NYSE Euronext is preparing to bolster its co-location services with technology to draw more business from high-frequency trading firms.
State Street Global Advisors is making the foray into fixed income transaction cost analysis within the year.
The Chicago Board Options Exchange plans to ask the Securities and Exchange Commission to approve a plan to execute benchmark-priced gamma-weighted average price options crosses--a benchmark that has the potential to become an industry standard for crossing options.
Large firms and industry groups are voicing their opposition to real-time reporting for dark pools, urging the Securities and Exchange Commission instead to require alternative trading systems to report aggregate volume at the end of the trading day.
Liquidnet plans to expand its dark pool crossing network into Mexico in the first half of this year, according to John Barker, head of international.
Jefferies is eyeing Hong Kong as the next location for its event-driven trading desk as part of its push to build out its equity business globally.
Collins Stewart has hired most of Pali Capital's 16-member high-yield/distressed debt sales and trading desk, including Jim Hindenach, director of high-yield sales, and Tom Tuchscher, sales and trading director for high-yield services.
The Securities and Exchange Commission has proposed changes to its safe harbor provisions that would allow companies to purchase their shares via electronic trading platforms with mid-point pricing and volume-weighted average price strategies.
Interactive Brokers, Lime Brokerage, and Knight Capital Group are rolling out arbitrage order systems in anticipation of a pick-up in merger and acquisition activity.
Oppenheimer & Co. is going back to basics in its research strategy, cutting lagging sectors such as commercial real estate and exchange-traded fund research.
The Depository Trust & Clearing Corp. is in the process of building a risk margining engine for New York Portfolio Clearing, the initiative it is working on jointly with NYSE Euronext.
Brokerages are likely to face stricter custody rules soon, as staffers at the Securities and Exchange Commission's Division of Trading and Markets are preparing to send the Commission recommendations for beefing them up.
Collins Stewart, Cantor Fitzgerald and BB&T Capital Markets are recruiting former FTN Equity Capital analysts.
BATS Exchange plans to focus on exchange-traded funds and exchange-traded notes for its new listings business, which it plans to launch in the second half of the year, according to Jeromee Johnson, v.p. of market development.
Nasdaq OMX Group has launched a program that allows members to reserve contiguous space in its data center following growth in demand for co-location, or placing servers within an exchange data center to optimize the speed at which trading messages are sent and received.
Clearstream and Euroclear are gearing up to provide direct access to Iceland for international investors, a market that has been virtually closed to international investors since the crisis.
Chi-X Europe is weighing the possibility of implementing auctions at the market open and close.
Equity research analyst bonuses are up from last year by as much as 30% at firms including Bank of America, UBS, Jefferies and Morgan Stanley Smith Barney, according to recruiters and analysts, with B of A said to be the most generous.
Traders expect proposed moves to reduce price increments for certain on-exchange quotes to less than a penny to push volume off exchanges.
Several key U.S. senators are backing a handful of exemptions to pending rules that would mandate clearing of liquid, standardized over-the-counter derivatives contracts. U.S. Senate Banking Committee members Jack Reed (D-R.I.) and Judd Gregg (R-N.H.), who are steering the derivatives working group under Committee Chairman Chris Dodd (D-Conn.), reportedly believe that some end-users should be exempt from mandatory central clearing.
SunGard has launched an agency broker-dealer business in the U.K. in an effort to provide access for its global client base to the increasingly fragmented European trading market.
Goldman Sachs analysts Daniel Harris and Jason Harbes have dropped coverage of LaBranche & Co., leaving Sandler O'Neill's Richard Repetto as the only Wall Street analyst covering the firm.
Auction rate securities and reverse convertibles are among the areas that will be targeted by the Financial Industry Regulatory Authority in a slew of enforcement actions expected soon.
Options exchanges are seeking to woo a portion of the trillion-dollar over-the-counter market by making adjustments to FLEX options to make them more available to all market participants at all times.
FIX Protocol Limited has launched a working group that is expected to create a standard process for measuring the latency for trading messages transmissions.
GlobeOp, an independent hedge fund administrator, is in the process of developing online reporting capabilities that will help identify operational risk inherent in portfolio maintenance.
In the wake of the Financial Industry Regulatory Authority issuing a sweep of firm trading huddles, top research providers are considering disclosing publicly short-term investment ideas provided to top trading clients.
Based on a history of technology glitches at the Tokyo Stock Exchange, Japanese brokers are taking a cautious approach to using its newly launched Arrowhead trading system.
The Options Clearing Corp. and the seven options exchanges have begun working on the last steps in the nearly five-year symbol consolidation process to develop more user-friendly options symbols and accommodate volume growth.
The use of algorithmic strategies has declined with volatility, but is poised to come back as traders seek to capture bigger volume.
The options market is set to get a makeover next year, as the industry continues to shift toward an equity-like market structure.
As post-trade service providers make their preparations for 2010, the resounding issue on the table is risk and how to help mitigate it.
ITG plans to make more cuts in its equities division as part of its restructuring plan, according to analysts who have consulted with management at the firm.
Sen.Ted Kaufman (D-Del.) has held a seat in Congress for less than a year, but in that time he has taken on a variety of market structure issues, calling for review and curtailment of high-frequency trading, sponsored access, co-location and short selling.
The New York Block Exchange, a dark pool jointly run by the New York Stock Exchange and BIDS Trading, has begun to route unfilled orders to other markets in an attempt to improve liquidity.
Securities and Exchange Commission Chairman Mary Schapiro has written a letter to Sen. Ted Kaufman (D.-Del.) that industry attorneys say signals a registration requirement for high-frequency trading firms.
Since Nomura International formed its U.S. equity division last spring, the firm has been expanding quickly to complement its presence in Asian and European markets.
Knight Capital Group will be launching an options order routing business for order flow to support its options market making business.
Goldman Sachs has introduced a Time-Weighted Average Price algorithm for options, becoming the second firm to do so after Credit Suisse.
Most Chicago Board Options Exchange seat holders favor an initial public offering, but there is a growing faction questioning whether that's the best route.
The Depository Trust & Clearing Corp. is in the early stages of enhancing its automated account transfers system to better handle its reversals process for transactions.
Sell-side firms including UBS, Rosenblatt Securities and Bloomberg Tradebook have recently rolled out new algorithms for the emerging markets.
In the face of a potential ban on flash orders, options industry players are urging the Securities and Exchange Commission to consider that flash orders for options deserve to stay.
BIDS Trading is looking for additional funding from its brokerage and exchange owners.
Buy-side firms plan to fight a proposed Securities and Exchange Commission rule that would identify dark pool executions, claiming it would leak critical trade information.
Knight Capital, Bloomberg Tradebook and Guzman & Co. are in the process of developing algorithms for exchange-traded funds and small- and mid-cap stocks.
Northern Trust next year plans to add derivatives contracts to its liquidity monitoring capabilities.
Senate Banking Committee Chairman Christopher Dodd (D-Conn.) may be trying to put the skids under the Securities and Exchange Commission's Office of Compliance Inspections and Examinations, according to WSL sister publication Fund Action.
Morgan Stanley, Wells Fargo, UBS and Deutsche Bank are offering aggressive recruitment packages for analysts in an attempt to score top-ranked talent.