The London Stock Exchange and OM AB have jointly launched EDX London, an international equity derivatives business. EDX London will leverage the equity product offerings of the LSE and OM-supplied trading technology. Initially, EDX London's business will be built around the Scandinavian equity derivatives business of OM's London subsidiary, OM London Exchange.
The Chicago Mercantile Exchange Inc. (CME) has launched LMC TRAKRSSM futures, one of a series of non-traditional futures products it has developed with Merrill Lynch. TRAKRS are the first broad-based index products traded on a U.S. futures exchange that can be sold by securities brokers. Designed and maintained by Merrill Lynch, the TRAKRS index has been licensed exclusively to CME for North America. The product is now being traded on the CME's Globex electronic trading platform, from 8:30 a.m. to 3 p.m. Central time.
MarketAxess, an online, multi-dealer bond-trading platform, has launched Corporate BondTicker, a Web-based data product that combines NASD TRACE data with MarketAxess' tools. BondTicker provides real-time, continuous estimated spreads to benchmark Treasuries for all corporate bond trades disseminated by the NASD. The product is being targeted at institutional customers who need access to a comprehensive set of corporate bond price information.
Townsend Analytics (TAL), a direct-access vendor best known for its RealTick trading platform, has signed a networking agreement with Radianz. The deal calls for TAL to use RadianzNet, Radianz's global financial extranet, to connect to its partners and clients worldwide.
Clarification: Last week's electronic trading briefs described NeoNet as an independent software vendor that provides its customers with front-end connectivity to financial exchanges. NeoNet does provide front-end workstation software to its clients, but it is actually an agency brokerage firm -- not an ISV.