Trading Technology


Nasdaq to support ASX in post-trade technology overhaul

Nasdaq will replace Australian Securities Exchange’s (ASX) existing equities and equity options clearing technology platforms. ASX says it wants to consolidate its number of post-trade platforms and this latest deal forms a “significant element” of its tech revamp programme outlined in February 2015. Tim Thurman, CIO at ASX, says: “While we have announced that ASX […]

ICE pours cold water on Deutsche Börse and LSE merger bid

New York Stock Exchange owner, Intercontinental Exchange (ICE), says it may make a rival bid for London Stock Exchange (LSE) – setting up a potential takeover battle with Deutsche Börse. ICE says an approach on the LSE hasn’t been made yet, but the speculation lifted LSE shares to a record high today (1 March 2016). […]

Deutsche Börse sells Infobolsa to BME

Spain’s Bolsas y Mercados Españoles (BME) has bought securities information provider Infobolsa from Deutsche Börse for €8.2 million in cash. The agreement also includes the acquisition of Infobolsa’s wholly-owned subsidiaries: Difubolsa (Serviços de Difusão e Informação de Bolsa) and Infobolsa Deutschland. Consequently, BME, through Infobolsa, will also become the owner of Open Finance, another Spanish […]

Top fintech stories this week – 26 February 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Fiserv’s CUnify core processing system bags 25 US credit unions More good news for the US software vendor. IBM delivers blockchain-as-a-service for developers Code to joy… nearly 44,000 lines made available. Potential “merger of equals” between Deutsche Börse […]

Deutsche Börse launches fintech initiative in Frankfurt

Deutsche Börse has launched a fintech initiative for new companies and start-ups in Frankfurt. From April onwards, it will make “fully equipped rooms available as a suitable environment to further develop new ideas and entrepreneurial concepts”. The start-ups will also receive on-site support from employees of the Deutsche Börse Venture Network. These will use their […]

TABB: Legacy IT is hurting buy-side alpha generation

In its latest report “Breaking Down Buy Side Barriers: Achieving Alpha through Agility,” analyst firm TABB Group has found that investment managers are struggling to cope with trade life cycle errors as a consequence of technology failure. Support for all asset classes and security types, multiple currency transactions, geographical locations and asset allocation strategies is […]

Capco: Costs driving financial industry towards utility model

Financial technology consultancy Capco has found that cost pressure will drive the uptake of the utility model in finance. In its latest report, ‘What Makes Utilities Useful,’ it surveyed senior banking executives’ attitudes towards adoption of a utilities-style approach. With responses from 102 financial services professionals across 69 financial institutions in 26 countries, they found […]

ITRS expands in China with eBroker integration

ITRS, the analytics and real-time monitoring technology provider, has announced plans to integrate its Geneos platform with the trading and risk management platform of eBroker Systems to provide a series of performance metrics for users. The agreement will see Geneos monitor both eBroker’s deployed and hosted trading platform. eBroker Systems operate in the Greater China […]

Fidessa bullish in rough markets

Trading platform provider Fidessa has reported a growth in revenue in 2015 up 7%, rising to £295.5 million up from £275 million in 2014, despite the reduction and closure of many sell-side trading operations over the last 12 months. The firm notes that the closure of the Jefferies Group’s Bache futures unit and Standard Chartered […]

Nasdaq OMX: Cap Markets Union needs disruptive technology

A whitepaper by market operator Nasdaq OMX has warned that disruptive technology needs to be encouraged if Europe’s proposed Capital Markets Union (CMU) is to prove effective. The paper notes that the current proposals place an emphasis on larger institutions investing and growing their product and service offerings, which the firm argues do not necessarily […]

Irish Stock Exchange preps for next gen Xetra migration

The Irish Stock Exchange (ISE) has renewed its strategic technology partnership with Deutsche Börse and extended its use of the Deutsche Börse trading infrastructure and related services. The new contract runs for 6 years until the end of 2021. Deutsche Börse has provided the Xetra platform to the Irish Stock Exchange since June 2000. Several […]

Nasdaq extends blockchain innovation with Estonian shareholders

Estonia’s e-Residency platform will use a blockchain-based e-voting service to allow shareholders of companies listed on Nasdaq’s Tallinn Stock Exchange, to vote in shareholder meetings. The country’s e-Residency platform is an electronic identity system used by both Estonian residents and those with business interests in the country to access government services through e-Residency digital authentication. The program […]

T2S takes one step forward amidst backwards steps

The European Central Bank has selected connectivity provider SIA, in partnership with telco Colt, for its connection to TARGET2-Securities (T2S), the delayed centralised European platform for the settlement of domestic and cross-border securities transactions. The European Central Bank is expected to migrate to SIA and Colt’s value-added network infrastructure in June 2016. The two companies will also provide the ECB with a message processing […]

ESMA to tackle trade repository data quality in 2016

The European Securities and Markets Authority (ESMA) has published its 2016 supervisory priorities for credit rating agencies (CRAs) and trade repositories (TRs). The regulatory authority reports seeing a number of changes in the CRA and TR industries during 2015, with new applicants for registration in both sectors, and current authorised entities seeking to develop their […]

Nasdaq sees tech revenues climb

Market operator Nasdaq has seen revenues from its technology sales increase, with its Technology Solutions division, which makes up 27% of total net revenues reach $146 million in the fourth quarter of 2015, up from $4 million from the fourth quarter of 2014. The exchange’s Market Technology unit, which accounts for 13% of total net revenues, […]

Nasdaq acquires Chi-X Canada

Alternative trading system Chi-X Canada has been bought by Nasdaq, as part of a push by the global exchange group to grow its presence in North America’s largest country. The deal is expected to go through in Q1 next year.

Blockchain Ready?

2015 has been a year of extensive discussion about what role blockchain can play in making processes in the financial services industry more efficient. It has also been a year where both banks and start-ups have been testing whether distributed ledger technology can adequately replace costly legacy systems and improve securities processing, writes Brian Collings. […]

Kynetix kicks off blockchain commodities consortium

Post-trade technology company Kynetix has launched a blockchain consortium, focused on using distributed ledger technology in commodities markets. The move comes as financial institutions increasingly explore ways to integrate the blockchain concept into mainstream financial services.

FIX adopts open access mechanism for trading applications

Non-profit organisation the FIX Trading Community has started posting its projects on developer repository GitHub, as part of a drive to get all of the important resources freely available in one place using a single sign-on. The move was done to encourage wider access and to speed up the development of standards for high-performance trading applications.

Distributed ledger adoption in securities will split front-to-back

Either the distributed ledger is the greatest revolution in financial services for a generation, or it will make little difference to anything, according to the strongly divided opinions expressed by speakers at the Mondo Visione Exchange Forum in London last week.

BT adds Volante messaging tools to Radianz cloud

Financial network BT Radianz has added Volante Technologies’ tools to the BT Radianz Cloud, in a move the two firms say will improve the reliability of clearing, settlement and payment transaction processing while cutting costs.

European exchanges shuffle IT management

European exchange groups in London and Frankfurt have announced changes in their technology leadership, with the announcement of a new group chief information officer at the London Stock Exchange and a restructuring of responsibilities at Deutsche Börse.

CME inks post-trade deal with Dwolla

Derivatives exchange CME has signed a commercial agreement with Dwolla, a bank transfer platform. The arrangement will use Dwolla’s real-time architecture to support on demand payment clearing and settlement services. It is intended to streamline payment operations for CME Clearing members. “With its established customers and proven real-time systems, Dwolla’s technology provides CME Group with […]

Why pending rate rises fuel the need for collateral optimisation

Eight years on from the global financial crisis, and banks continue to face a growing number of challenges. Many have ceased or significantly reduced proprietary trading, with the resulting reduction in both risk and reward. This period has also seen lower risk appetite among many investors and continuing global competition which has put pressure on profit margins,

Rearranging risk

Pushing more complex products towards mandatory central clearing may increase the risks to which CCPs and clearing members are exposed. Frances Faulds examines whether CCPs can continue pooling risks in a safe and efficient way

LSE/DTCC regulatory reporting tie-up shows the way for collaboration

London Stock Exchange and The Depository Trust & Clearing are partnering to provide clients with a connection to the LSE’s UnaVista Approved Reporting Mechanism. The service will allow DTCC clients to comply with the Markets in Financial Instruments Regulation through their current connection from DTCC’s Global Trade Repository.

Saxo opens trading platform with advanced API

Saxo Bank is to allow access to its multi-asset trading and back office infrastructure through a new open API that will allow developers and partners to integrate Saxo’s trading functionality into their own applications and systems.

Bloomberg and Traiana to automate post-trade for FX options

Post-trade processing company Bloomberg STP Solutions and post-trade and risk specialist Traiana have begun a joint effort to develop a straight-through processing infrastructure for FX options. The partners say it will help to reduce post-trade costs for market participants, which have typically remained higher than execution costs.

Project Neptune pilot goes live

Project Neptune, the fixed income trading initiative between a group of 42 large banks and asset managers, has gone live with its pilot production network, bringing the project closer to its ‘hard’ platform later this year.

GMEX signs Bank of America, prepares for launch

International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.

The new face of risk management

Regulations aimed at transparency across financial markets may be making things simpler for the regulators, but they are making life more complex for banks, according to Sven Ludwig, senior vice president, risk management and analytics EMEA, at SunGard.

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