Trading Technology


Clearstream allies with Belgium’s Belfius

German central securities depository Clearstream has partnered with Belgian bank and insurance firm Belfius, to develop a new collateral service for bilateral trades, focusing on OTC derivatives and aimed at corporates and medium-sized banks.

MiFID II faces national challenges

Proposals in Germany that would affect the country’s capital market structure could create problems of regulatory arbitrage when the European Commission’s MiFID II arrives in 2015-16, according to Mark Spanbroek, general secretary at the FIA European Principal Traders Association.

Nasdaq OMX expands and regroups technology business

Nasdaq OMX is to combine its market technology and corporate solutions businesses, in a move that it says will help the firm provide more transparency to customers and a stronger business proposition.

International clearers form ‘Liquidity Alliance’

An alliance between central securities depositories in Germany, Spain, Brazil, South Africa and Australia aims to tackle the expected global shortfall in collateral arising from tough new financial regulation.

French regulator raises temperature of debate in London

A heated argument that erupted between panellists at an event in London yesterday signals deep divides in Europe over the role that financial regulators should take as France and Germany introduce their own national rules.

Banks boost ICAP’s Traiana with $36 million investment

Interdealer broker ICAP has raised $36 million through the sale of a 12% stake in its Traiana post-trade processing and risk management business to a consortium of banks – Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, JP Morgan, Nomura, and the Royal Bank of Scotland.

German HFT proposals earn buy-side support

Market participants have expressed support for controversial new proposals in Germany to control high-frequency trading, including a requirement to obtain a licence or stop trading.

Social media trading goes live on DCM

Online trading service DCM Capital has released a trading platform with a social media sentiment feed, allowing traders to incorporate information from channels such as twitter and Facebook into their trading decisions.

BATS trading errors highlight perils of technology arms race

US exchange operator BATS Global Markets’ revelation earlier this week that it may have accidentally breached best execution regulation on thousands of client transactions over a four-year period has been criticised by senior buy-side traders, who have expressed disappointment at the failure of exchanges to serve long-term investors.

Citi targets “dangerous” global collateral shortfall

Citi has established a set of alliances with Clearstream and Euroclear Bank that it says will transform the way broker-dealers manage their collateral, freeing up precious resources as onerous new regulations in the US and Europe burden banks with tougher collateral requirements.

Celoxica debuts HFT futures trading tools

UK technology company Celoxica has launched a new futures trading platform, which it says will make automated trading strategies even faster and more efficient.

Man Group goes live with Swift’s global ETC messaging service

Alternative investment management firm Man Group has gone live with Swift’s Global Electronic Trade Confirmation messaging service, and successfully confirmed its first trades with Morgan Stanley using the Cor Financial Salerio post-trade management service.

Brokers face grim prospects for 2013

Brokers are being forced to consider novel approaches to doing business – including outsourcing of areas that have been previously seen as core – as they struggle to work out viable economic models for their products and services.

SIX expands Nordic post-trade with £20m purchase of Oslo Clearing

Swiss market operator SIX is to expand its post-trade infrastructure in Scandinavia with the acquisition of Oslo Clearing, a subsidiary of the Oslo Børs, for NOK180 million (£19.8 million).

The unit is authorised to act as a central counterparty in Norway and currently clears derivatives and securities lending products. It will become will be part of SIX Securities Services.

On board the enterprise

Like Apple under Steve Jobs, Bloomberg has a long-held reputation for being a ‘closed’ sort of company, reluctant to compromise its products or its ways of working.

Fragmentation drives OMS-EMS integration

Capital markets participants are increasingly turning to combined execution and order management systems that include tools for algorithmic and basket trading strategies in multiple asset classes, according to a new report by consultancy GreySpark Partners.

Singapore Exchange reaches out to Germany

The Singapore Exchange has stepped up its efforts to connect to international market participants, with a deal between itself and German derivatives exchange Eurex that will allow traders in Europe to access the Singapore market more easily.