Trading Technology


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.

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.

Final countdown to EMIR underway

A week before the final reporting deadline for the European Commission’s EMIR regulation, tech firms are making a last push to get OTC trade reporting up and running.

Keeping tabs on trading costs: TCA comes to FX and fixed income

Transaction cost analysis has become a staple feature of equities trading since 2007’s watershed piece of European legislation MiFID. But that’s just the beginning of a journey that is increasingly coming to transform the way FX and fixed income asset classes are traded, according to Michael Sparkes, director of analytical products and research at broker ITG.

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.

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’.

Russian bonds make debut at Euroclear Bank

Russia’s securities markets have taken another step forward with the decision by Euroclear Bank to launch post-trade services for Russian corporate and municipal bonds on 30 January, via its relationship with Russia’s newly established CSD the National Settlement Depository.

Derivatives reform chaos “stupid and self-inflicted”

Reforms to the way derivatives trade in the US and Europe are causing a conflict between consumer desire for bespoke solutions and regulatory attempts at standardisation – and the self-inflicted panic as the deadline approaches indicates the cost may be too high, according to a panel of senior capital markets representatives speaking at an event organised by the Futures and Options Association in London on Tuesday.

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.

ABN Amro joins Eurex OTC Clear

Dutch bank ABN Amro has become a member of German derivatives exchange Eurex’s OTC Clear service, which clears interest rate swaps, as part of the bank’s compliance with EMIR.

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.

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.

Bank of Beirut installs Misys Sophis toolkit

Bank of Beirut has gone live on Misys Sophis Value platform, which the bank says will help it increase its STP rate, manage trade repository and cross-asset collateral and margin, and better interact with Lebanon’s other banks.

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.

European Central Counterparty gets green light for March launch

European equities clearing houses EMCF and EuroCCP have completed their merger transaction and chosen a new name for the merged company, following the final approval by Dutch central bank De Nederlandsche to the group’s shareholder organisations the DTCC and BATS Chi-X Europe.

Regulation and T2S forcing European post-trade evolution says Celent

As Europe’s post-trade infrastructure is subjected to increasing levels of regulation, CSDs will be forced to change their business models to stay alive, custodians will be forced to seek alliances to find economies of scale, and brokers will have to outsource parts of their mid and back office processes to stay in the game, according to analyst firm Celent.

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 […]

Italian banks sell stake in SIA

The group of banks holding a controlling interest in SIA, the Italian payments processor and systems developer, have reduced their ownership in a sale to a consortium of investment funds led by Fondo Strategico Italiano.

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.

Volante rolls out T2S Accelerator

Fintech vendor Volante Technologies has launched its T2S Accelerator, which is designed to help financial services firms to prepare for the T2S settlement platform.

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.

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