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Plus signs with Algo Technologies for systems overhaul

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Plus signs with Algo Technologies for systems overhaul

Plus Markets has signed for market data and connectivity systems from Algo Technologies, with a deal for the vendor's matching engine also in the pipeline, as part of a wide-ranging restructuring and cost-reduction exercise.

Chi-X Europe receives bid approach; Bats Trading in the frame

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Chi-X Europe receives bid approach; Bats Trading in the frame

Chi-X Europe says it has received an "enquiry" from an unnamed party that may lead to an offer for the multilateral trading facility (MTF).

Asia target for Deutsche dark pool trading

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Asia target for Deutsche dark pool trading

Deutsche Bank is to offer dark pool trading in Hong Kong via an internal crossing network and liquidity-searching algorithm that will file client orders across multiple off-exchange trading venues in Asia.

CME migrates to new data centre

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CME migrates to new data centre

CME Group has moved its Globex electronic platform into a new data centre that the exchange operator says will allow it to grow trading volumes for at least a decade, according to Dow Jones.

Inter-dealer brokers warn of 'monopolistic' risks in new swap clearing rules

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Inter-dealer brokers warn of 'monopolistic' risks in new swap clearing rules

US inter-dealer brokers have called on regulators to ensure fair access to newly-created Swap Execution Facilities as the Securities and Exchange Commission and Commodity Futures Trading Commission meet to discuss governance and conflicts of interest in the clearing and listing of swaps.

Religare Technova takes major equity stake in Chase Cooper

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Religare Technova takes major equity stake in Chase Cooper

Indian IT firm Religare Technova has moved to gain a foothold in the risk management sector by buying a stake in the parent company of specialist Chase Cooper and forming a strategic partnership. Financial terms were not disclosed.

Norwegian day traders accused of breaking Timber Hill algo and manipulating prices

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Norwegian day traders accused of breaking Timber Hill algo and manipulating prices

Norwegian police have arrested two men accused of cracking the algorithms of US broker Timber Hill and manipulating share prices, according to local press reports.

Computer systems fingered in flash crash probe

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Computer systems fingered in flash crash probe

An over-reliance on computer systems and high-frequency trading were the biggest contributors to the 6 May flash crash that saw a dizzying plunge in the Dow Jones Industrial Average, according to a poll of retail financial advisors.

Osaka Securities Exchange disciplines Deutsche Bank over algo trading error

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Osaka Securities Exchange disciplines Deutsche Bank over algo trading error

Deutsche Bank has been hit with an "admonition" by the Osaka Securities Exchange over a problem with a trading algorithm in June that saw sell orders worth Y16.7 trillion made by mistake.

Code issue complicates Goldman plan to spin off prop trading unit - CNBC

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Code issue complicates Goldman plan to spin off prop trading unit - CNBC

Goldman Sachs' plan to spin off its proprietary trading business has run into trouble because the investment bank does not want to give the new entity access to its specially designed computer language, according to CNBC.

SunGard upbeat on Q2 but broker/dealer volatility continues

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SunGard upbeat on Q2 but broker/dealer volatility continues

SunGard chief Cristóbal Conde says the firm saw a "strong showing" from its financial systems business in the second quarter but figures were again skewed by a volatile broker/dealer business.

Instinet launches US options dark pool

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Instinet launches US options dark pool

Electronic trading and brokerage giant Instinet has launched a dark liquidity pool for US listed options.

CESR signals MiFID overhaul

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CESR signals MiFID overhaul

The introduction of a European consolidated tape for EU market data is a "necessity" says the Committee of European Securities Regulators (CESR) in a report to the European Commission which calls for wide-ranging reforms to the structure of trading under a revised MiFID rulebook.

Over half of capital markets firms do not have real-time market surveillance

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Over half of capital markets firms do not have real-time market surveillance

Over half of capital markets firms do not use real-time market surveillance and monitoring tools despite a general recognition in the industry that greater transparency is needed to deal with abuse and irregular activity, according to a survey from Progress Software.

SunGard buys algo trading tech outfit Fox River Execution

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SunGard buys algo trading tech outfit Fox River Execution

Fintech giant SunGard has acquired Fox River Execution, a broker dealer provider of algorithmic trading technology and execution offerings to institutional firms focused on equities ETFs. Financial terms were not disclosed.

E*Trade returns to profit

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E*Trade returns to profit

Online brokerage E*Trade Financial has posted its first quarterly profit for three years, surprising analysts who had expected another loss and sending shares up seven per cent.

BME/Clearstream OTC repository enters pilot phase with BBVA and Banco Sabadell

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BME/Clearstream OTC repository enters pilot phase with BBVA and Banco Sabadell

Spanish bourse Bolsas y Mercados Españoles (BME) and Clearstream have begun testing their planned European OTC trade repository with the support of local banks BBVA and Banco Sabadell.

Direct Edge opens new front in battle for US market share

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Direct Edge opens new front in battle for US market share

Direct Edge has opened a new front in the battle for US exchange market share by converting its two alternative trading systems into formal exchanges and completing the migration to a new technology platform.

CESR considers mandatory electronic trade confirmation for OTC derivatives

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CESR considers mandatory electronic trade confirmation for OTC derivatives

The Committee of European Securities Regulators is considering mandating the use of electonric trade confirmation in the over-the-counter derivatives market as part of a regulatory overhaul designed to promote further standardisation and shift more dealing to organised trading venues.

Risk management salaries rebound as data and IT concerns persist

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Risk management salaries rebound as data and IT concerns persist

Business and IT staff at Europe's financial institutions want more emphasis placed on risk management, with just a quarter confident that their existing IT systems are capable of using stored data to provide a full analysis across all business units, according to research commissioned by Oracle.

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