Germany’s Deutsche Börse and China Construction Bank have entered into a strategic partnership and have signed a ‘preferred partnership’ agreement under which they will explore the opportunities for more cooperation.
New Canadian exchange Aequitas NEO has gone live for the first time, using the MillenniumIT trading platform built by the London Stock Exchange’s Sri Lanka-based subsidiary.
Long-term investors are deeply concerned about their ability to find liquidity, with nearly 90% afraid that predatory high-frequency traders are preying on their flows, according to a new survey by block-trading network Liquidnet.
Hotspot, the institutional foreign exchange market owned and operated by BATS Global Markets, is to expand its European presence with the launch of its first Europe-based FX matching engine later this year. The new matching engine will be located in the London Slough Campus data centres and will target Europe and Asia and specific FX currencies that dominate the European and Asian trading hours.
As international regulators demand more detail from banks on payments to individuals and companies, the first order of business is to ensure compliance with mandates. Migrating Swift MT payment formats to ISO 20022 will allow the industry to shape the transformation of payment messaging standards rather than have others shape it – but there is a need to set timelines for implementation or cede control.
A new US bond trading venue with a mission to help electronify fixed income markets for investors using experience gained in the equity markets is preparing to launch in the US this quarter. Called OpenBondX, the venue was Created by former Lime Brokerage chief executive Alistair Brown and former colleagues, OpenBondX is an ‘all to all’ system open to the buy-side and the sell-side.
Real-time business performance monitoring and analysis specialist Velocimetrics has announced that its TipOff product can now capture network packets to disk at a sustained rate of 40 Gigabits/sec, almost double its previous performance.
Deutsche Börse, Eurex and the Bombay Stock Exchange have further extended their strategic cooperation offering connectivity services. Participants of BSE will be able to use Deutsche Börse’s resilient low latency N7 network services to connect to BSE back-ends in India through the Deutsche Börse access points in Hong Kong and Singapore.
ABN Amro Clearing will offer clearing and settlement of trades at MEFFPower, cleared by BME Clearing. The Spanish Power derivatives market is one of the top five markets in Europe and has experienced great growth in the past decade. The maturities offered by ABN Amro Clearing as swaps and futures will be: annual, quarter, months, weeks, week-ends and […]
Temenos has moved into the fund administration business with a €235 million acquisition of Luxembourg-based Multifonds, which counts a number of Tier 1 institutions as users of its fund administration platform.
Fixed income markets have historically been a bastion of high-touch trading, with manual processes, large tickets and little standardisation. But as recent years have seen inventory slashed and balance sheets cut in face of rising regulatory pressure, finding liquidity has become more of a challenge. A group of banks are hoping to reinvigorate the market though a standardised messaging system.
Continuing its policy of offering products that fit across user workflows, Bloomberg has moved in to the transaction reporting space in Europe. The company’s Trade Order Management System has been granted approval by the Financial Conduct Authority to report securities with an ISIN and OTC derivatives as part of the UK’s Approved Reporting Mechanisms regime.
Avox, the DTCC’s legal entity reference data subsidiary, has launched a series of web-based application programming interfaces designed to support faster access to data, including legal entity identifiers, legal names, addresses, industry classifications and corporate hierarchies.
Deutsche Börse has signed a trio of commodities trading entities to use its new M7 trading platform, developed as part of a complete renewal of its trading infrastructure. Singapore-based regulated futures exchange Cleartrade Exchange, London-based Freight Investor Services Ltd., a broker of freight and commodity derivatives, and Norexeco ASA, a commodities exchange for pulp and paper based in Norway, will start to use the M7 trading platform in the next few months.
From the early days of internet distribution, New York-based Alacra has been aggregating reference data. Chief executive Steve Goldstein told David Bannister the company’s story
The UK’s Payments Council has selected Swift to build the country’s new central infrastructure platform in preparation for the next phase of SEPA regulation in 2016, through the provision of an automated central infrastructure platform for collection and maintenance of UK-specific SEPA routing data.
Like opening Pandora’s box, the emergence of swap execution facilities in US derivatives markets has brought unexpected consequences and problems as well as benefits. In some cases, asset managers are actively looking to avoid trading on the new platforms and even turning to other asset classes, according to a new report by OpenLink.
Finland’s central securities depository Euroclear Finland has just completed the first stage of a major project to completely replace its securities processing infrastructure. The CSD says the move is part of its preparations for T2S, the European Central Bank project to harmonise Europe’s post trade infrastructure.
Swiss post-trade specialist SIX Securities Services is planning to establish a central trade repository for derivatives transactions in Switzerland, using the London Stock Exchange’s UnaVista platform. The platform is being built to allow Swiss customers to report under the Swiss Financial Market Infrastructure Act, which is currently in parliamentary consultation.
SmartStream Technologies has acquired the assets of IBM’s Algorithmics Collateral solution and will add it to its existing solutions for the automation of the end-to-end post trade lifecycle, rebranding it as TLM Collateral Management. The system provides collateral lifecycle automation for buy- and sell-side institutions, custodians and asset servicers, large and small.
Italian banks are preparing for T2S, as Europe seeks to reform its cross-border trading infrastructure and bring down barriers between EU countries. The preparations are driving smaller regional banks to make deals with larger global banks as they prepare for implementation in June.
US Commodity Futures Trading Commission Commissioner J. Christopher Giancarlo has condemned the CFTC’s implementation of swaps trading regulation reforms, describing its approach as highly over-engineered, disproportionately modelled on the US futures market and biased against both human discretion and technological innovation.
BNY Mellon and State Street have announced a collaboration with Eurex Clearing, the subsidiary of Deutsche Börse Group, to enhance the Eurex service to meet the needs of beneficial owners, and explore expanding its geographic reach into the US.
Securities market regulators are beginning to clamp down on market abuse linked to complex high-frequency trading strategies – but there is much more to be done, according to a new report by financial consultancy Kinetic Partners.
With a string of client projects in flight, the immediate effects of the financial crisis weren’t a problem for Dublin-based Information Mosaic, but as projects that had run for two or more years started coming to an end, things got a little tougher. Fortunately, the company has one major shareholder that has both funds and a long-term view …
SIX Swiss Exchange is to launch a new trading platform for corporate bonds, which it says will provide a better way of trading large blocks of less liquid issues. The new platform is due to launch in the first half of 2015.
Japan Exchange Group is planning to introduce a new derivatives trading system for its derivatives-focused subsidiary the Osaka Exchange, using technology provided by Nasdaq.
Bitcoin market Netagio has launched credit and debit card payment options, as part of a push to make it easier to buy and sell Bitcoin with pounds, euros and US dollars. The exchange, which was founded in 2013, is seeking to popularise the alternative currency and improve its controversial public image.
The London Stock Exchange is to begin trading Turkish futures and options, following a deal with Borsa Istanbul. The agreement will help to open up the Turkish market to more investors; it will also help to deepen the LSE’s derivatives market, which it has been trying to build up in recent years.
US exchange BATS Global Markets is calling for an 80% reduction in access fees to the US stock market’s most liquid securities, on grounds that nearly a billion dollars in fees could be slashed without adversely affecting the market. In an open letter to the industry, the exchange also rejected what it calls a “grand compromise” on exchange fees and called for greater transparency and the avoidance of anti-competitive rules.
Derivatives market participants are concerned about the impact of new margin requirements for non-cleared derivatives under Basel III, with a large number unsure whether they will even have to comply with the rules, according to new survey published today by the International Swaps and Derivatives Association.
The European Securities and Markets Authority says that crowdfunding platforms are incentivised to operate in a way that they fall outside existing regulations, which is holding back their growth and increasing risks for investors.
The London Stock Exchange has set out plans to add EuroCCP as a third clearer for its main market from March 2015, joining LCH.Clearnet and Switzerland’s SIX x-Clear.
Euronext is planning to launch a new service that would allow derivatives to be reported to Euronext and cleared by LCH. Clearnet. The new service will use the Tradexpress platform built by vendor Cinnober, and is due to go live in spring 2015.
ICAP is combining its EBS foreign exchange and BrokerTec fixed income electronic trading platforms into one business unit. The change is“an internal management reorganisation” and the platforms will remain separate for the foreseeable future.
A pan-African vision has inspired the African Stock Exchange, which has ambitious plans to tap the potential of the continent using hosted technology and a secure base in Mauritius.
In today’s high-risk, cost-conscious world, buy-sides are demanding the next step in straight-through-processing, becoming increasingly impatient with the multiple screens and manual workarounds they’ve been presented with to date. Those FCMs that can meet this need will immediately become more competitive and create clear distance from those that lag behind.
Despite the G20 plans put in place since the financial crisis, CCPs are still vulnerable to unforeseen risks and could put the whole financial system in jeopardy in the event of a catastrophic default, according to senior financial services executives speaking in London today.
India’s Bombay Stock Exchange has ramped up its network application and monitoring speeds and opened a new investor service centre in New Delhi, as it seeks to attract latency-sensitive traders.
The securities industry is suffering from “innovatism”, a serious disease that if untreated could result in significant damage by detracting attention away from genuine business growth. At the same time, commercial pressures could force radical change in several areas of the capital markets, according to panellists at a debate hosted by Mondo Visione this week.
