Here algo again: MiFID II will require your attention in 2014
For firms who remember MiFID I, and those that don’t, round two is almost upon us. This month, the Council of the EU agreed their general approach, meaning that the draft of MiFID II/MiFIR is free to advance to the European Parliament. If all goes according to the current plan, the new combined legislation will be with us in time for 2015 implementation.
House of Commons HFT tax proposal “not good for market”
Market participants have condemned a proposal in the UK House of Commons that calls for the UK government to consider implementing a tax on high-frequency trading activity in the country.
DTCC promises Omgeo acquisition will “open up new opportunities”
US post-trade utility the DTCC has agreed to acquire post-trade specialist firm Omgeo, in a deal that it says will help improve collaboration between investment managers, broker-dealers and custodian banks and reduce risk for market participants.
Euroclear moves France, Netherlands and Belgium to T+2 settlement
Securities trading in France, the Netherlands and Belgium is to move to T+2 settlement in October 2014, following a decision by Euroclear to pre-empt Europe-wide settlement reforms.
LSE’s Guy Eden joins Traiana
Risk and post-trade processing specialist firm Traiana has appointed Guy Eden, formerly of the London Stock Exchange, as head of product management.
Deutsche Börse opens doors to ‘dark pool’ Liquidnet
German exchange Deutsche Börse is to launch a new block trading service in partnership with Liquidnet, the buy-side crossing network.
LSE’s Luxembourg venture highlights regulator’s dilemma
The London Stock Exchange’s plans to establish a new central securities depository in Luxembourg reveal the way regulation can have unintended consequences – in this case a proliferation of CSDs.
European post-trade alliance targets repo market
Clearstream, Euroclear and Eurex Clearing have signed an agreement with the ICMA European Repo Council to create a joint project aimed at improving the efficiency of the repo market.
Japan Exchange brings Osaka equities to Tokyo
Japan Exchange Group has migrated the Osaka Securities Exchange cash equities market and integrated it into the Tokyo Stock Exchange, marking an important stage in the unification of the two exchanges.
Twitter shakes up market: the impact of social media on algos
On 23 April 2013, the markets suffered a brief, sharp drop as algorithms reacted to “news” from the Associated Press’s Twitter handle that President Obama had been injured in a bombing attack at the White House. In a few minutes, the Dow Jones dropped 145 points, Standard & Poor’s 500 Index lost $136 billion in […]
BNP Paribas goes with Swift for T2S link
BNP Paribas Securities Services is to use Swift’s value added network service to connect to T2S, the single European settlement platform due to roll out in 2015-16.
Bahrain Bourse to install Nasdaq OMX trading engine
The Bahrain Bourse is to replace its trading platform with a new one provided by Nasdaq OMX, as the Bourse aims to become a trading hub in the Persian Gulf region.
New Turkish exchange embraces Nasdaq OMX technology
Turkey’s newly-merged Borsa Istanbul has formed a deal with Nasdaq OMX, under which the new Turkish market will take up Nasdaq trading, clearing, market surveillance and risk technology.
NYSE Euronext opens SME market in Netherlands
NYSE Euronext has launched EnterNext, a market for small- and medium-sized companies, in the Netherlands for the first time – a move the exchange says will help local SMEs to get the financing they need.
Iraq Stock Exchange prepares new trading system
The Iraq Stock Exchange is to upgrade its trading technology using Nasdaq OMX, in a project that highlights the progress made by the country’s stock market since the American-led invasion in 2003.
Deutsche Börse launches first public vendor-neutral cloud marketplace
German exchange group Deutsche Börse has announced what it claims to be the world’s first vendor-neutral marketplace for cloud services.
Misys shows its post-merger mettle
For the first three months of 2012, Misys was the subject of a protracted bidding war. Misys is clearly not the company it was a year ago:the firm has endured some painful change, but it has at least been quick. It has also produced what promise to be tangible benefits for users …
Object Trading clients go live on new London derivatives market
Direct market access provider Object Trading has connected its clients to Nasdaq OMX NLX, the newly launched London derivatives market, and they have begun live trading.
SEC hopes for Midas touch from HFT surveillance system
the US Securities and Exchange Commission says that its cloud-based approach is paying dividends and allowing it to examine the structures of the markets it supervises at a greater level of granularity than ever before.
Keeping it simple: market data management made easy …
New York start-up Simplified Financial Information is piloting a market data analytics system prior to release later this summer.