ELECTRONIC TRADING NEWSFLASHES
Nasdaq to acquire Brut for $190 million; Charles Schwab beefs up software functionality for active traders; Chicago Merc to provide Reuters' customers with direct futures trading.
RISK MANAGEMENT NEWSFLASHES
Pakistani bank licenses Principia System for derivatives; CDC IXIX Asset Management to deploy LatentZero's Sentinel; Algorithmics names John Coady CFO.
InTrade Deploys AthenaTrader from Aegis Software for Proprietary Trading; TransAct Futures Names Gregory Sabatello President; Lava Trading Increases Equity Stake in Upstream Technologies.
Misys Partners with Almonde; Societe Generale Corporate & Investment Bank Installs OrderTools to Reduce Operational Risk in Foreign Exchange.
Patsystems taps Richard Unger to spearhead sales in North America; FNX names Christensen to head Aspen Hedge; Duff & Phelps Investment Management Co. picks LongView Trading; Charles River promotes Field to focus on Asia-Pacific expansion; Nasdaq.com picks eSignal as data supplier
Google Going Dutch
Google has thrown a wrench in its much anticipated initial public offering. Rather than go the run of the mill route of hiring a traditional underwriter, Google is bringing back the Dutch auction, first introduced in the late 90s. Larry Tabb, CEO of The Tabb Group, tells us why he believes this is a very smart move.
CBOE to Allow Screen-based Market Makers to Stream Quotes
The Chicago Board Options Exchange is going to let traders stream quotes without being physically located on the floor. It's all part of the CBOE's hybrid trading model, which is preparing for phase two just as its rival, the all-electronic ISE, announces an IPO.
Risk Management Newsflashes
Global Fund Services Division of Bank of Bermuda introduces GFSRiskPlus; ADP Brokerage Services Group launches service-bureau-based compliance platform built with Mantas.
JPMorgan and Banc of America Securities partner with Charles River OMS for algorithmic trading services; Harborside+ promotes Cashel to president and CEO; The Clearing Corporation seeks U.S. regulatory approval for first phase of Eurex global clearing link; Linedata signs over nine execution destinations for linkage to Long View OMS.