Category: ET-ExchangesOn 04 Apr 2008 in ET-Exchanges, Electronic Trading 
ELX, the electronic futures exchange being set up by interdealer broker eSpeed and a consortium of investment banks and trading firms to take on the Chicago Mercantile Exchange (CME), says it is “deadly serious” about mounting a challenge to the stranglehold of the Chicago futures exchange in the derivatives space.
On 19 Mar 2008 in ET-Exchanges, Electronic Trading
Nasdaq OMX’s newly announced platform to connect liquidity pools with pan-European routing, set for launch this September for some 300 of the most liquid equities across Europe, will leverage the INET technology platform that has made Nasdaq the largest US electronic stock market bespoked to the nuances of the European marketplace and operated by a joint US/Swedish IT team.
On 13 Mar 2008 in ET-Connectivity, ET-Exchange Technology, ET-Exchanges, Electronic Trading
The new electronic futures exchange being set up by a group of banks and trading firms to take on the Chicago Mercantile Exchange has been named ELX Electronic Liquidity Exchange. Bank of America, Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank Securities, JPMorgan, Merrill Lynch and Royal Bank of Scotland, along with Chicago-based trading firms Getco and Peak6 and hedge fund Citadel, are investing in the new exchange, which will be powered by technology developed and supplied by eSpeed.
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 Feb 2008 in ET-Exchanges, Electronic Trading
Nasdaq is set to become the world’s biggest exchange following Borse Dubai’s sale of shares in the Nordic exchange to the US company, paving the way for the formation of Nasdaq OMX.
On 14 Feb 2008 in ET-Exchange Technology, ET-Exchanges, ET-The Corporation, Electronic Trading
Shareholders of the Montreal Exchange (MX) have voted by an overwhelming 99.6 per cent in favour of a combination with TSX Group to form what will be known as TMX Group, as announced last December, and in so doing bolster both Quebec and Canadian capital markets amid global and North American exchange consolidation.
On 11 Feb 2008 in ET-Exchanges, ET-News in Brief, Electronic Trading
The London Stock Exchange plans to introduce a post-trade router that will facilitate competition between clearing services. At least four central counterparties (CCPs) are expected to enter the UK market in addition to LCH Clearnet , the existing sole supplier of clearing, and the X-TRM router will support competition between them by eliminating the need to carry out reconciliation work between the CCPs on a bilateral basis. In addition, the router will provide exchange-level netting services to trading members of the London Stock Exchange, giving users a much more cost-effective way to net their SETS transactions for settlement purposes.
On 23 Jan 2008 in ET-Exchanges, ET-News in Brief, Electronic Trading
NYSE Euronext and French state bank Caisse des Dépôts have teamed to launch a European carbon emissions market, Bluenext. Bluenext operates a spot market in CO2 emission allowances. The US exchange holds a 60 per cent stake in the carbon exchange, with Caisse des Dépôts holding the remaining 40 per cent. The new exchange also plans offer a spot market in emission credits – emission rights obtained by undertaking projects that reduce CO2 emissions – as soon as the international transfer of credits is made possible. In Q2 2008, Bluenext will also introduce futures market with physical delivery of allowances and credits. These derivative products will be cleared through LCH.Clearnet. The carbon exchange will also look to expand outside Europe, specifically in North America and Asia.
On 23 Jan 2008 in ET-Exchanges, Electronic Trading
Scottish Widows Investment Partnership (SWIP), an ultimate subsidiary of Lloyds TSB Group, has raised its stake to above the five per cent threshold in Plus Markets Group, the independent UK exchange rival to the London Stock Exchange in small and mid-cap stocks - increasingly covering an even wider stock universe on its new OMX platform.
On 23 Jan 2008 in ET-Exchanges, Electronic Trading
Consistent with NYSE Euronext’s strategic objectives and designed to strengthen its competitive position in the US, the world’s largest exchange group entered into a definitive agreement on January 17 to acquire the American Stock Exchange (Amex) for $260 million, with a view to significantly enhancing its scale in US options, cash equities, ETFs, closed-end funds and structured products.
