On 01 Dec 2006 in ET-Best Execution, Electronic Trading 
Boston-based start-up Kaskad Technology is seeking to support firms in complying with best execution requirements. The vendor is seeking to replicate in Europe for MiFID the strategy it is pursuing in the U.S. for RegNMS. Having announced general availability of Kaskad Korrelera, its new Event Stream Processing (ESP) engine, a few weeks ago, Kaskad is concentrating on building applications to run on top of it, covering best execution, regulatory reporting and order routing. The vendor’s first application is a market surveillance system for a US stock exchange.
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On 01 Oct 2006 in ET-Best Execution, ET-News in Brief, Electronic Trading
GL Trade used its GL Net Forum event in London last month to unveil its new GL Execution Management System (GL EMS), targeted specifically at buy-side trading desks. The French provider of connectivity and electronic trading solutions cites MiFID as a key driver in focusing the buy side’s attention on best execution, and whether institutional investors and hedge funds are getting the performance and value they require from their sell-side counterparties. As such, GL EMS offers buy-side traders a set of execution tools, including pre- and post-trade transaction cost research, direct market access and programme trading. The system makes use of GL Net, the company’s order-routing and trading network that offers connections to 120 execution venues.
On 01 May 2006 in ET-Best Execution, Electronic Trading
Thomson Financial last month bought Chicago-based transaction cost analysis and trade execution compliance software supplier Market Systems Inc., bolstering its offerings in the electronic transactions space, currently populated by Thomson Tradeweb, Thomson Order Routing network, Thomson AutEx and Thomson BlockData.
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On 01 Oct 2005 in ET-Best Execution, ET-News in Brief, Electronic Trading
BondDesk Group, a retail fixed income trading platform, has launched MarketView & Trade Monitor System (TMS), a market transparency toolkit which promotes best execution by automatically alerting a firm if its customers’ trades are not in line with relevant market information including Trace and MSRB data. The toolkit includes MarketView, a price discovery tool, Trade Monitor System, an exception reporting system and Electronic Archive, an online storage and retrieval tool.
On 01 May 2005 in ET-Best Execution, ET-News in Brief, Electronic Trading
The Archipelago Exchange (ArcaEx) is proposing to introduce a new market-making programme aimed at encouraging price improvement and supplemental liquidity for stocks traded on ArcaEx. The proposal – subject to Securities and Exchange Commission clearance – will protect best prices, ensuring compliance with the trade-through provisions of Regulation National Market System (Reg NMS) due for implementation in a year’s time.
On 01 Feb 2005 in ET-Best Execution, ET-News in Brief, ET-Order Routing, Electronic Trading
Reuters’ Instinet electronic agency broker plans to launch a smart routing service that will automate clients’ searches for best execution among European exchanges. The service initially will focus on Dutch equities, with the smart router monitoring liquidity on EuroNext Amsterdam, the London Stock Exchange and Instinet’s own crossing system, the Continuous Block Crossing (CBX) platform. The service will use a price-sensitive algorithm to locate the best price between these markets, and route portions of an overall order according to the results.
