What’s giving high-frequency traders the jitters?
What is the latest technological snag affecting high-speed trading performance? In a word, jitter – a major risk, particularly when carrying out arbitrage.
Stock Exchange
Bangladesh stock market gets X-stream with Nasdaq OMX
Bangladesh’s Dhaka Stock Exchange is to install a new trading engine from Nasdaq OMX, which it says will help to realise its plans for regional and global expansion.
Middle East exchange quartet plan trading platform migration
Four Middle Eastern exchanges – Amman, Beirut, Tunis and Muscat – are to migrate to Euronext’s Universal Trading Platform, replacing the older NSC trading engine they are currently using.
Outfoxing the fixed income fracas
Fixed income is a bit like the tortoise of Aesop’s fables, while equities is unquestionably the rambunctious hare. While equities finished the race towards an agency trading model many years ago, fixed income is just plodding onto the starting lines now. But a little outsourcing may provide the rocket boost the industry needs to push ahead, according to Carl James, managing director of dealing services UK at BNP Paribas.
BGC Partners to launch Islamic murabaha contracts in Dubai
US broker BGC Partners and UAE government-run free zone the Dubai Multi Commodity Centre have done a deal to promote Islamic ‘Murabaha’ products, as part of a drive to turn Dubai into an Islamic finance hub. The DMCC has a trade platform called DMCC Tradeflow, which operates in the Jumeirah Lakes Towers Free Zone. A […]
Japan’s TSE offers latency management tools to users
The Tokyo Stock Exchange has begun offering latency performance management as a service to users of its Arrownet network, which the exchange says will help market participants gain deeper insights into the quality of their trading and market data communications between the TSE and their own systems.
Saxo Bank debuts retail and institutional futures spread trading
Denmark’s Saxo Bank has introduced futures spread trading onto its online trading and investment platform for retail and institutional clients, in a move the bank says will give investors access to a low-volatility trading style.
Greece’s derivatives market adopts LSE reporting service
Greece’s Hellenic Exchanges Group, which runs the Athens Stock Exchange and Athens Derivatives Exchange, has chosen to buy services from the London Stock Exchange to help it cope with tough new European trade reporting rules.
Challenger ATS Brasil prepares to take on BM&F Bovespa “super monopoly”
After nearly a decade of trying ATS Brasil is finally poised to launch an equities trading venue, bringing competition to Latin America’s largest market for the first time in many years.
Futures algos come of age
Long-only institutional investors are increasingly turning towards advanced futures trading strategies that have previously been the preserve of hedge funds and proprietary trading shops, according to a new report published by Tabb Group and Fidessa.
Euronext launches foreign open-ended funds in Paris
European exchange group Euronext is planning to begin trading active open-end funds on its Paris market following a legislative decree in France allowing the funds to be traded on exchanges or MTFs.
Instinet algo will ‘Make’ large orders viable
Broker Instinet has released Make, a new algorithm which it says will help traders to shift large orders more cautiously without disturbing the market.
FIX adopts Market Model Typology as post-trade reporting standard
The Market Model Typology post-trade reporting standard has been adopted as a standard by the FIX Trading Community and is now available for adoption by all market participants, bringing the possibility of a European consolidated post-trade tape a step closer.
Social media matters says Thomson Reuters data chief
Helping traders to understand input from social media can be a key differentiating factor, according to Albert Lojko, head of content strategy, data management and delivery at Thomson Reuters.
How many sides can you put on a coin?
There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.
Saxo Bank ‘likes’ social media trading
Denmark’s Saxo Bank has built an online social trading community called TradingFloor.com, which draws on social media concepts such as LinkedIn and blogging alongside Bloomberg/Reuters style market data and news in an attempt to make trading more ‘social’.
Canadian “HFT-free” exchange prepares for 2015 launch
A new Canadian stock exchange aimed at retail and long-term investors is planning its debut next year, offering a service designed to curb high-frequency trading and support capital raising.
Swiss Zürcher Kantonalbank targets trade speed with Corvil
Switzerland’s Zürcher Kantonalbank has installed a performance monitoring system from latency management specialist firm Corvil to monitor the performance of its market making and FX business, including market data quality, transaction analysis and FX order flow.
LSE reforms international order book as T+2 draws near
The London Stock Exchange has introduced a set of changes for its international order book, including a shift to T+2 settlement, a reduction in tick sizes and changed opening hours, ahead of upcoming EU regulations designed to harmonise settlement across Europe.
LSE launches first China A shares ETF in London
The London Stock Exchange has launched the first Chinese renminbi ETF listed in London, in a deal that will help open the Chinese A shares market up to international investors.
No SEFs please, we’re bankers …
Most banks are still not ready for the arrival of Swap Execution Facilities, the new category of trading venues created by the Dodd-Frank act in the US to handle OTC derivatives. Worse still, market participants are almost universally negative about SEFs, according to a new paper by research house GreySpark Partners.
Aizawa Securities fuels expansion plans with Fidessa algos
Japan’s Aizawa Securities has chosen vendor Fidessa as its new proprietary and wholesale agency trading system, as the Japanese firm prepares to revamp its algo trading against the backdrop of last year’s Japan Exchange Group merger and the upcoming integration of the derivatives market in two months’ time.
Nasdaq OMX Treasuries dark pool will revitalise bond trading
Electronic fixed income trading, one of the last major asset classes traded by humans, could take a big step forward when a new Nasdaq OMX dark pool trading venue goes live next year.
ICE reveals a design for Liffe
IntercontinentalExchange has revealed further details of its plans for Liffe, following its acquisition of NYSE Euronext in November.
Global exchanges get together to address cyber threat
The World Federation of Exchanges has set up a Cyber Security Working Group with a “mission to aid in the protection of the global capital markets” in the wake of a number of attacks on international exchanges over the past few years.
Bitcoin boom prompts banking dilemma
Bitcoin is more traceable but less regulated, less expensive but more volatile, and more decentralised but less accountable, than a regular currency. Feeling confused? That’s not the half of it, according to Ernst & Young.
Caplin targets regional banks with FX platform as a service
Smaller regional banks may want a single-dealer FX platform; unfortunately, they’re not cheap, so UK technology company Caplin Systems is targeting regional banks that want a single-dealer FX platform without building it themselves.
Taiwan Futures Exchange and Eurex to launch joint venture in May
The Taiwan Futures Exchange and Eurex, Deutsche Börse’s international derivatives market, plan to launch a cross-listing link 15 May 2014. With this link, Eurex Exchange will list TAIEX index futures and options as daily expiring futures on Eurex. Derivatives on the TAIEX index are one of the most heavily traded Asian equity index contracts. Andreas […]
Euroclear to shift UK, Ireland, France and Netherlands onto T+2 settlement
Euroclear UK and Ireland is planning to shorten its settlement cycle to T+2 from October next year, bringing its operations into line with clearing in Germany and Russia, which already operate T+2.
London calling to the Chinese renminbi
Standard Chartered and Agricultural Bank of China have launched renminbi-denominated clearing services in the UK in a deal that reflects the ongoing internationalisation of the currency.
Turquoise triples turnover with revamped dark trading service
European equity market Turquoise has reported a drastic increase in dark trading volumes following the relaunch of its ‘dark’ pool Uncross service. Banking Technology spoke to Robert Barnes, new chief executive at Turquoise, to find out why.
Breaking dawn: the new reality for the buy-side
Enlightened buy-side firms are facing the challenges of high-touch regulation, fragmented liquidity and ongoing cost pressures head on and developing new business models and approaches at every stage of their workflow.
Fidessa and Celent call for MiFID II clemency on dark pools
Regulators should consider carefully the implications of their actions, and not be too hasty to censure or restrict trading activity on dark pools, according to a report released by analyst firm Celent this week. The findings have been supported by senior financial services executives at Fidessa, who have called for investor choice to be maintained.
ICE acquires Singapore Mercantile Exchange and clearing house
IntercontinentalExchange is to acquire Singapore Mercantile Exchange, including the venue’s clearing house, in a deal that will give it a foothold in Asia for the first time. SMX offers futures for metals, currencies, energy and agricultural commodities.
BATS Chi-X Europe launches European listings business
BATS Chi-X Europe has begun its pan-European listings business with the start of trading in two exchange-traded funds. The firm’s strategy is to focus on ETFs, where it believes it has found an opportunity to cut away at costs.
Exchange tie-ups “not worth the air miles they are written with”
The wisdom of emerging market exchange deals was a subject of controversy at the Mondo Visione exchange forum in London on Wednesday, with some participants lambasting such deals as “not worth the air miles they were written on”. Others had a more positive view.
Focus on raising capital or lose out to private equity, exchanges told
Large exchange groups face a backlash from businesses trying to raise capital if they do not change to address this part of their function, leading to the emergence of private equity markets and more political interference and protectionism.
Kenshō builds first analytics platform on Nasdaq OMX FinQloud
Start-up financial analysis company Kenshō is planning to become the first professional analytics platform built completely on Nasdaq OMX’s FinQloud cloud computing platform, which is powered by Amazon Web Services.
China Financial Futures Exchange inks MOU with Nasdaq OMX
China Financial Futures Exchange has signed a deal with Nasdaq OMX to strengthen cooperation and promote mutual development, in a move that will likely see Nasdaq technology expand into China.
Moscow Exchange debuts cleared OTC derivatives market
Moscow Exchange has opened its new cleared OTC derivatives market, marking a major step towards Russia’s G20 commitments. But some observers still have doubts about Russia’s reputation as an investment destination.
