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Electronic Trading Newsflashes: COESfx Adds Thomson Financial’s IFR Market News, and more

COESfx Adds Thomson Financial's IFR Market News, Citadel Derivatives Group Joins PHLX to Trade Options via Remote Streaming Quotes, Algorithm Trading Solutions Unveils Tracer for VWAP Trading, JPMorgan Investment Bank Developing Applications With Solaris 10

COESfx Adds Thomson Financial's IFR Market News

COESfx, an electronic currency network (ECN) for foreign exchange, enhanced its Web site(www.coesfx.com) with the addition of content from Thomson Financial's IFR Markets.

IFR provides investors with key market transactions, data, analysis and commentary on the international markets and broad array of information including currency outlooks, economic calendars and forecasts.

COESfx says it is an unbiased ECN because it does not operate a trading desk, which can be utilized to trade against the end user.

"We want forex traders and others in the financial community to consider our site as the daily destination for comprehensive forex information and trading," stated Ronald Balzano, president, COESfx, in the release.

Citadel Derivatives Group Joins PHLX to Trade Options via Remote Streaming Quotes

Chicago-based Citadel Derivatives Group has joined the Philadelphia Stock Exchange (PHLX) as a remote streaming quote trader (RSQT).

Citadel will generate and submit option quotations electronically from the floor of the exchange in options classes allocated to the firm. Initially, Citadel will trade customer order flow in more than 200 issues, according to the release. A Citadel derivatives executive quoted in the release said the firm intends to actively quote in up to 600 issues on the exchange.

As part of the PHLX's move to electronic trading, RSQT is an expansion to PHLX XL (Extreme Liquidity), the exchange's electronic options trading system that was launched in 2004. The new remote-streaming quote enhancement to PHLX XL will increase the exchange's capacity to improve electronic access for customers, broker-dealers and market makers while maintaining the advantages of a floor-based environment, the exchange said.

Algorithm Trading Solutions Unveils Tracer for VWAP Trading

Algorithm Trading Solutions is introducing Tracer, its newest algorithm designed to facilitate the execution of VWAP (volume weighted average price) trading.

This is the eighth proprietary algorithm that Algorithm Trading Solutions -- a division of TradeTrek Securities, an institutional broker-dealer based in New Newark, N.J. -- has launched since it was founded at the start of 2005.

Tracer is aimed at money managers that periodically rebalance large portfolios over several days of trading and insist on meeting or beating the VWAP benchmark each day that they trade, the firm said in a release. Additionally, it's suited for portfolio managers with a long-term view who execute most trades for risk adjustment purposes. Like the firm's seven other proprietary algorithms, Tracer offers portfolio managers trade execution independence, control and transparency.

JPMorgan Investment Bank Developing Applications With Solaris 10

JPMorgan's Investment Bank Technology team is developing applications using Sun Microsystem's new Solaris 10 Operating System, the technology company announced.

Sun also announced that JPMorgan is working with Sun Microsystems on a range of advanced IT projects, including grid computing, data archiving and virtualized data center solutions.

The applications, which currently are in testing and development, will utilize Solaris 10 OS on both SPARC and x64 systems. Support from independent software vendors to port applications from Solaris 10 OS to x86 systems will be available to the bank.

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