Electronic Trading provides exclusive coverage of electronic transactions, algorithmic trading models, trade order management systems and post-trade messaging. Institutions’ algorithmic trading and direct market access strategists, and supporting vendors’ senior management turn to Electronic Trading for insight into the future of the fast-moving segment of the business.
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Category: Electronic TradingOn 18 Jul 2008 in ET-Exchanges, ET-Multilateral Trading Facilities, Electronic Trading 
NASDAQ OMX Europe, the new marketplace designed for high performance trading of the most actively traded European stocks, has revealed the maker-taker model fees that will apply when live trading on the pan-European trading system commences on 26 September 2008.
On 17 Jul 2008 in ET-Exchange Technology, Electronic Trading
InCore Bank AG, the first independent Swiss corporation with a banking and securities dealer licence, has opted for Orc Software to replace key technology for its electronic trading operations after a “careful study” of Orc and several other trading system providers.
On 16 Jul 2008 in ET-Exchange Technology, ET-Exchanges, ET-Low Latency Trading, Electronic Trading
The International Securities Exchange (ISE), a wholly owned Eurex subsidiary and the world’s largest equity options trading venue, has introduced a new internally developed ISE Order Routing System (IORS2) for its options exchange, which connects the exchange’s members using API or FIX connections to ISE’s options exchange interface.
A-Team’s Algorithmic Trading Directory, now available, is an easy-to-use reference guide providing the industry’s only apples-to-apples comparison across the algorithmic trading models on offer from sell-side institutions. The directory provides a series of detailed supplier profiles with descriptive information on the algorithms available, and analyses of who should be using them, under what market conditions and when.
On 15 Jul 2008 in ET-Networking, Electronic Trading
Tora Trading, an electronic dealing platform provider, has hired auto-trading expert Peter Lewis as MD of its New York office, breaking his 22 year run at Citi Global Markets, where he founded and then managed the New York desk for international equity program trading.
On 15 Jul 2008 in A-Team Free, Delivery Terms, ET-Exchanges, ET-Multilateral Trading Facilities, ET-Trading Technology, Electronic Trading, MM-MTFs, MiFIDMonitor.com 
Despite Nordic multi-lateral trading facility (MTF) Burgundy having taken some 18 months to formally unveil its plans to launch a consortium-backed alternative trading venue for large cap stocks and SME’s in the region, the chances of the venture’s success and providing improved tariffs over incumbent Nasdaq OMX are described as “favourable to good”, a Swedish broking expert claims.
On 14 Jul 2008 in ET-Exchanges, ET-Multilateral Trading Facilities, Electronic Trading, MM-Exchanges, MiFIDMonitor.com
PLUS Markets Group, the London-based exchange offering trading services in some 7500 UK and European equity securities, has announced a non-binding agreement with Bayerische Börse AG, the Munich Stock Exchange operator, to jointly develop a new pan-European market for small and mid cap companies and a route to London’s deep capital market.
On 10 Jul 2008 in ET-Networking, Electronic Trading
Rosenblatt Securities has hired Xiang Li as Vice President, Analytics & Consulting where he will work on improvements to the firm’s models, as well developing new applications for customers and other technology initiatives, as part of Rosenblatt’s transaction cost analysis (TCA) group, which helps institutional investors boost their returns by identifying and minimizing the complex, often hidden costs associated with buying and selling large quantities of stock. He reports to Scott Burrill, a Partner and Managing Director of the firm who heads its TCA efforts.
On 10 Jul 2008 in ET-Exchanges, Electronic Trading
MTF operator Chi-X Europe has announced that it is trading, clearing and settling five leading names in the Belgium BEL 20 index including KBC, Delhaize and Solvay, and plans to introduce the remainder of the index’s equity components later this July.
On 08 Jul 2008 in ET-Research, ET-Trade Reporting, Electronic Trading
Low-touch electronic trading in the European equity markets will account for nearly €2.1 billion in commission revenue by 2010 – up from €1.8 billion this year. But European traders will still have their place and high-touch services will remain critical, according to a new report from Tabb Group.
On 03 Jul 2008 in ET-Download PDF, Electronic Trading
On 03 Jul 2008 in ET-ECNs & ATSs, ET-Multilateral Trading Facilities, Electronic Trading
Lehman Brothers and the London Stock Exchange (LSE) have unveiled initial plans to create a pan-European multilateral trading facility (MTF) named Baikal – after the deepest and largest freshwater lake in the world by volume – for the execution of non-displayed or ‘dark’ orders.
On 03 Jul 2008 in ET-ECNs & ATSs, ET-Multilateral Trading Facilities, Electronic Trading
The consortium of Nordic banks and brokerage houses that announced plans last month to launch a Nordic multilateral trading facility (MTF) called Burgundy has already cut its list of prospective technology providers to build the new platform to just two. Burgundy, which will offer trading in large, medium and small cap Nordic equities, plans to go live in the first half of next year and is aimed at taking on Nasdaq OMX and the London-based MTFs that offer trading in Nordic equities.
On 03 Jul 2008 in A-Team Free, Delivery Terms, ET-First Word, ET-Multilateral Trading Facilities, Electronic Trading
Could it be too late for the Europe’s incumbent exchanges to get their collective acts together? And will it be akin to shoot-out at High Noon one day this September when two pan-European MTFs – Turquoise and Nasdaq OMX – begin their assault against the established big guns?
On 03 Jul 2008 in ET-News in Brief, Electronic Trading
A huge number of stock and derivatives exchange end users face a “bewildering array” of pricing linked not only to outright price but also speed of execution and latency, which has created massive scale problems for financial markets and if left unresolved could impair further growth, a leading derivatives consultant contends, according to Clive Furness, managing director and founder of commodities consultancy Contango Markets.
On 03 Jul 2008 in ET-Foreign Exchange, ET-News in Brief, ET-Trading Technology, Electronic Trading
SuperDerivatives, a multi-asset front-office systems and online options trading solutions provider, has launched the next generation of its web-based trading platform for the foreign exchange (FX) market in response growing buy-side and sell-side demand for “greater FX derivatives complexity” and more efficient workflow.
On 03 Jul 2008 in ET-Algorithmic Trading, ET-Client Implementations, ET-News in Brief, Electronic Trading
Centrobanca, the corporate and investment bank of the UBI Bank Group, has successfully proven algorithmicpath, the GATElab Algorithmic Trading Solution. Centrobanca, a customer of GATElab’s since 2007, uses algorithmicpath in conjunction with traderpath, GATElab’s multi-asset cross-market platform providing trading and EMS capabilities.
On 03 Jul 2008 in ET-Best Execution, ET-Multilateral Trading Facilities, ET-News in Brief, Electronic Trading
Turquoise Trading will use best execution expertise from the Transaction Auditing Group Inc. (TAG) to provide clients with “further analytical value” when its integrated multilateral trading facility (MTF) platform launches, according to
Yann L’Huillier, Turquoise’s chief technology officer.
On 03 Jul 2008 in ET-News in Brief, Electronic Trading
Smart Trade Technologies, provider of liquidity management systems automating MiFID- and RegNMS-compliant best execution, has licensed its STTP 5.5 liquidity management platform to TraderTools, a provider of business solutions, software and services to financial institutions trading FX. Smart Trade’s STTP 5.5 liquidity management system will be used for liquidity aggregation within the dealing module, as well as for smart order routing (SOR) within the execution module of the TraderTools Liquidity Management Platform (LMP).
On 03 Jul 2008 in ET-Multilateral Trading Facilities, ET-News in Brief, Electronic Trading
Chi-X Europe has reported a 90% jump to 12.6 million in the number of trades executes through the European MTF for the second quarter of 2008, compared with the previous quarter. Share volume rose 112% to almost 14 billion; share value was up 78% at a tad over €132.5 billion, helped by rising blue-chip market shares and constituents in the OMX Helsinki 25, Oslo OBX 25 and OMX Copenhagen 20 being added.
On 03 Jul 2008 in ET-News in Brief, Electronic Trading
The Nasdaq OMX Group has launched its proximity services, which is designed to provide high-speed connectivity in the Nasdaq OMX data centre in the city of London. The new proximity service, or “co-location,” enables participants to locate their trading engines on-site with the Nasdaq OMX pan-European market in order to enhance trading speed. Nasdaq’s pan European market, now known as NASDAQ OMX Europe, will begin offering these services immediately.
Electronic Trading - Issue 54 - July 2008 (279.7 KB)