Solutions
Electronic order books (EOBs) continue to dominate the Nasdaq market for covered shares, a report by Celent has found.
Their cumulative share has grown from 76 per cent in September 2013 to 78 per cent.
That of market-makers has declined from 23 per cent to 21 per cent.
The report, Execution Quality in the Nasdaq Market, analyses over 16 billion orders over the period of 1 October 2013 to 31 December 2013. In total, the report measures and ranks 140 market participants according to their execution speed and prices obtained for incoming orders.
BATS Exchange, NYSE Arca,
Bonaire, a Broadridge Financial Solutions company, has migrated its Software as a Service (SaaS) solution to the Broadridge hosting environment.
Bonaire offers its customers three distribution models: in-house installation, SaaS and business process outsourcing.
Since 2008, Broadridge has maintained an ISO 27001 Certification for the facility and the Tier III plus data centres through which the SaaS services will be provided to help ensure the security of client data.
Gerard Scavelli, president, mutual funds and retirement solutions group, Broadridge, says: "We are pleased to bring our Bonaire revenue and expense management capabilities to the middle market on a managed
First Derivatives (FD) is to use the Pivotal One platform to deliver “next-generation” financial applications to the capital markets industry.
FD plans to offer consulting services for the design and implementation of financial solutions in areas such as surveillance, risk management and trading.
Pivotal One is an integrated platform that includes a set of application and data services that run on top of Pivotal CF, the enterprise distribution of Cloud Foundry.
The increasing importance and complexity of data in the financial services industry requires robust and adaptable technology to support its evolving fabric. From structured to unstructured, time
NYSE Liffe reached a daily volume record of 862,468 contracts in FTSE 100 Index futures on 18 March 2014.
The previous record of 822,496 contracts was set on 17 March 2009.
IntercontinentalExchange Group (ICE) and NYSE Liffe offer a range of futures and options contracts on international equity indices such as the FTSE 100, MSCI Europe, MSCI World and Russell 2000 and 1000 indices.
Global institutional trading network Liquidnet is planning to enter the fixed income market with its acquisition of bond trading platform Vega-Chi.
The partnership, subject to regulatory approval, will combine Liquidnet’s experience, scale and global reach within the institutional investment community with Vega-Chi’s corporate bond trading platform and sector expertise to accelerate efficiencies within the corporate bond market.
“There has been a massive increase in corporate bond issuance and at the same time a depletion of capital that dealers can use to facilitate trading. The result has been increasing difficulty among investment managers and dealers in accessing liquidity. To fix
Oslo Børs has upgraded Oslo Connect, its OTC derivatives MTF trading and price discovery system, to the latest version of Edge, which is provided by Baymarkets.
Edge is the trading and registration platform used by exchanges, brokerage firms and banks in multiple markets throughout the world.
Oslo Connect combines the flexibility of the OTC market with the reliability of the standardised exchange market to ensure efficiency in trade processing for tailor-made derivatives. Users of Oslo Connect can negotiate and trade derivatives, utilising straight through processing (STP) into Oslo Clearing or bilateral deal capture and settlement.
The upgraded Oslo
Euronext has signed agreements with four exchanges in the Middle East and North Africa (MENA) region for the implementation of its new UTP solution, UTP-Hybrid.
The four exchanges are the Amman Stock Exchange, the Beirut Stock Exchange, Bourse des valeurs Mobilieres de Tunis and the Muscat Securities Market.
The project will include the replacement of the NSC trading platform, support for which will be discontinued from a commercial perspective in 2015.
The MENA region has a sophisticated financial markets industry with exchanges looking for a cost-effective, high performance platform to support growth in equities or entry into new
Trading of ISS shares has opened on Nasdaq OMX Nordic.
ISS, a large cap company within the industrial sector, is the third company to list on Nasdaq OMX Nordic in 2014, and the largest company to list on Nasdaq OMX Nordic since 2000.
Danish company ISS is a provider of facility services with operations in more than 50 countries across Europe, Asia, North America, Latin America and the Pacific. With more than 530,000 employees, ISS is one of the largest private employers in the world and its service offering includes cleaning, property services, catering, support services, security and facility
The European Commodity Clearing (ECC) has expanded its offering to include reporting services required under the European Market Infrastructure Regulation (EMIR).
All market participants are obliged to forward data on concluded derivatives market transactions to a trade repository. ECC customers can now delegate this task to the clearing house.
“We have already connected six clearing members and 20 non-clearing members to our service,” says Dr Thomas Siegl, chief risk officer at ECC. “Just in time for the entry into force of this obligation, our participants were able to use this new service offered by ECC.”
The trade reporting
Options on futures markets are seeing rapid growth in trading volumes as investors expand their use of these instruments in hedging and volatility strategies.
This is especially so as investors have anticipated changes in the winding down of the US Federal Reserve’s quantitative easing (QE) programme, generating strong growth in interest rate derivatives markets.
According to new research from TABB, “Options on Futures: A Market Primed for Further Expansion,” options on futures trading volume is expected to remain strong in 2014, growing 15 per cent, as fiscal policy shifts and increased volatility drive market activity.
“Leveraging growing liquidity,
