Content tagged with Trading Technology posted in September 2006
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ATS Epidemic
Ivy Schmerken, Wall Street & Technology
I was surprised to learn that the sell-side community is funding yet another round of ATSs after investing in regional exchanges and turning their own internalization engines into SEC-registered crossing networks.
In case you haven't heard, this week Wall Street firms unveiled plans to launch two different electronic matching initiatives - begging the question, do we need another ATS?
CME Revamps Market Data Packages and Pricing
Ivy Schmerken, Wall Street & Technology
CME is revamping the future exchange's market data packages. Starting on Jan. 1, 2007, all distribution of CME market data will be repackaged to include market-depth-data, according to the exchange's release.
Bank of America Pilots its First FX Algorithm
Ivy Schmerken, Wall Street & Technology
Bank of America launched a pilot of its first foreign exchange (FX) algorithmic trading strategy, and also expanded liquidity access to third party platforms. Clients can access liquidity through multi-bank platforms such as TradingScreen, FXall,
Time to Swap Your OMS?
Mention Regulation NMS and order management system (OMS) in the same breath, and technology suppliers will seize the opportunity to explain that firms on the buy and sell sides need new functionality to compete in a more-automated trading environment.
What’s Up With Exchanges?
First it was Philadelphia (Philx) and Boston (BSE), then Chicago, and now it's Cincinnati.
/hardware
Some predict that the EMS market may converge with the OMS market, but don't be too quick to judge this book by its cover.
7 Surfacing Algo Trends
According to Brad Bailey, a senior analyst with research and consulting firm Aite Group, there are seven sure-to-see trends emerging in the algorithmic trading space.
Citigroup Targets Hidden Liquidity
Citigroup joins other sell-side firms in introducing algorithms to hunt for hidden liquidity in a fragmented market.
Illuminating the Dark
Will dark pools connect, creating more liquidity, or will they fragment the market - making it harder for buy siders to execute trades?
Surviving an Avian Flu Outbreak
The securities industry is employing various technologies to address the risks of a bird flu pandemic or other disaster
Execution Management Systems: From the Street and on the Block
As the buy side seeks greater control of its own trades, brokers are acquiring EMS vendors. But at the same time, the line between EMS and OMS is blurring.
Liquidity Hunters
With so many electronic trading venues emerging under Reg NMS, monitoring market structure is turning into a full-time job.
Nasdaq Raises Market Share in NYSE-Listed Securities to 10.75 Percent
The Nasdaq Stock Market increased its market share in New York Stock Exchange-listed securities to 10.75 percent in July, up from 8.9 percent in June, according to consolidated market performance statistics.
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A group of Wall Street investment banks, including Citigroup, Bear Stearns and Credit Suisse, reportedly is joining forces with the electronic trading arms of Bloomberg and Knight Capital to buy a 50 percent stake in the National Stock Exchange (NSX).
Calypso Partners With Sky Road
Joint trading platform opens doors for small hedge funds to trade multiple asset classes without long systems development times.
Liquidity Seekers
With the markets continuously being reshaped, in retrospect, it's surprising that it took this long for the new role of liquidity strategist to emerge on Wall Street.
Liquidity Right Under Our Nose: The Benefits of a Smart Posting Approach
Liquidity issues have been at the forefront of the equity market structure debate since decimalization.
Every job seeker who contacted Securian Financial Group via its "E-mail a Referral" program has been granted a face-to-face interview with the firm's human resources department.
Jack Be Nimble
Sometimes, smaller is better. That's not to say there aren't advantages to being part of the Citigroups or Fidelities of the world, where vast sums of capital are available.
Financial Firms Are Struggling to Manage, Archive and Monitor the Exponentially Growing Volume of Corporate E-mail
From in-box overload to lawsuits, e-mail can deliver a nasty bite. Get control of it before you're a victim.
Hayes Leaves Charles River to Head Client Services at Pipeline
Pipeline Trading Systems LLC, operator of the Pipeline block electronic trading marketplace, announced that Michael Hayes, formerly with buy-side order management systems provider Charles River Development in Boston, joined the company as VP and executive director of client services.
Lava Offers Derivatives Trading for the Buy-Side
By Ivy Schmerken, Wall Street & Technology
Lava Trading is offering derivatives trading to its buy-side customers through its multi-broker LavaX platform.
Lehman Brothers Buys Stake in BATS ECN
By Ivy Schmerken
Lehman Brothers has acquired a minority stake in BATS Trading, operator of the Kansas City-headquartered BATS ECN, the investment bank announced on Tuesday. Financials of the transaction were not disclosed.
ITG's Smart Hire: Raymond Killian Picks Bob Gasser
By Ivy Schmerken, Wall Street & Technology
Finally finding a successor to its visionary founder and tireless leader Raymond Killian, Investment Technology Group named Robert (Bob) Gasser, former CEO of NYFIX Inc., as its new president and CEO, starting Oct. 4.
In a conference call with analysts and media on Monday, Killian, 69, said he would remain in his role as chairman of the board and devote
A Hard Act to Follow
Amid dwindling commissions and a resurgence in the use of soft dollars, commission recapture is becoming harder to quantify.
NYSE Group Invests in Marco Polo Network
By Ivy Schmerken, Wall Street & Technology
Looking at fast growth in less developed markets, NYSE Group has acquired an equity stake in Marco Polo Network Inc.(MPN), an electronic platform providing connectivity and order routing to equities and derivatives listed on emerging market exchanges. Details of the transaction were not disclosed.
VOIP Provides Efficient and Cost Effective Communications for Smaller Investment Managers and Hedge Funds
VOIP provides efficient and cost-effective communications for small investment managers and hedge funds.
The Quiet Market Explosion
While most of the industry has been focusing on exotic investment products and emerging markets, the securities lending market has boomed into a $16 trillion business. But with rapid growth comes substantial risk.
Patent Processing
The Challenge: Given the abundance of technology solutions created in the securities industry, once-ignored intellectual property issues have been forced to the forefront as firms increasingly are settling infringement claims in court. But a flood of new patents could curb innovation.
Reducing Market Spend
As the global economy has expanded, the information requirements of the financial services industry and related markets have continued to grow.
Who Said Technology Isn’t Important?
Check scams, logic bombs, data theft, online outages, compensation for botched trades and computer glitches -- and that was only the first six of seven stories gracing a popular financial technology Web site earlier this month.
JPMorgan’s Kerry Williams Leaves for SwapsWire
Derivatives STP System has hired former JPMorgan CTO Kerry Williams to head technology
JPMorgan WSS Makes Serenita CDO
Peter Serenita, a 25-year JPMorgan veteran, has been promoted to the newly created position of SVP and chief data officer for JPMorgan Worldwide Security Services.
Stephen Andress Hired by Northern Trust
Look to the expansion of its derivatives business, Northern Trust has hired Stephen Andress as global head of derivatives operations.
Cross-Asset STP
Sophis (Paris) introduced a full straight-through-processing (STP) module for securities lending and repo for its RISQUE platform.
CRM for Investment Managers
ProTrak International released version 4.0 of its ProTrak Advantage customer relationship management (CRM) solution.
Tying Up Employee Loose Ends
Acton, Mass.-based Lumigent Technologies released a new module for its flagship auditing and assessment solution, Audit DBT.
Selling the Strategy: The Sell Side Finds an Edge in the Algorithm Marketplace by Being Quick and Collaborative
In search of an edge in the crowded algorithm space, dealers are looking to the first-mover advantage and client collaboration.
Ask The Experts: Mark Madoff, Codirector of Trading at Bernard L. Madoff Investment Securities
How will a price war between the NYSE and Nasdaq change order flow, and how will it impact regional exchanges and ECNs?
Registration’s Lingering Effects
It appears as though the ill-fated SEC hedge fund registration requirement will have a lasting effect on many in the hedge fund industry.
Venues Fight for Market Share
Boston-based Aite Group predicts that competition among market centers, along with structural and regulatory forces, will alter the shape of the U.S. equities market by 2010.
EMS Spending Spree
Much has been made of the sell side opening its wallet and snatching up trading platform vendors.
Edinburgh: Home to Financial Service Savvy
By Tim Clark, Wall Street & Technology
On the second leg of the Scottish Financial Services tour, I had the opportunity to speak to different financial services firms and institutions located in Edinburgh, a city that is just as proud of its gothic heritage and architecture as it is of its financial services savvy.
Investment Management Newsflashes: DSTi Releases Pricing Tool for Investment Managers, and more
DSTi Releases Pricing Tool for Investment Managers; Planning Station, Aite Group Report Foresees MSP Spike
Compliance Newsflashes: FSA to be Given Greater Control Over LSE Regulation, and more
U.K. Government Shelters LSE from U.S. Regulations, OCC Expects Phishers to Exploit FFIEEC Deadline, Barclays Gets Phished
Operations Newsflashes: U.K. Watchdog Group Tightens Soft Commission Rules, and more
U.K. Watchdog Group Tightens Soft Commission Rules, Tangosol Releases SOA Data Grid, Maples Finance Expands Linedata Collaboration, CQS Adopts Trade Processing Capabilities
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