Category: ET-The CorporationOn 14 May 2008 in ET-OMSs & EMSs, ET-The Corporation, Electronic Trading 
Linedata Services has formed a marketing alliance with technology provider Norbury Financial Systems, offering users of its LongView Trading Order Management System (OMS) access to Norbury Links, the research management platform.
On 09 May 2008 in ET-The Corporation, Electronic Trading
Nyfix expects last month’s acquisition of FIXCity to give the UK specialist in web-based liquidity discovery solutions the opportunity to ramp up FIXCity Ioinet’s client base through the alignment of both firms’ indications of interest (IOI) expertise. The companies plan to combine their networks into one, to offer more unified IOI content in the US, Europe and Asia.
On 08 May 2008 in ET-The Corporation, Electronic Trading
Turnover at GL Trade has grown by 19.4 per cent in Q1 08 compared to the same period last year, topping €53.4m. On a like-to-like basis and at constant FX rates that’s a boost in turnover of 10 per cent.
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 10 Apr 2008 in ET-The Corporation, ET-Trading Technology, Electronic Trading
Citi is acquiring an undisclosed minority equity stake in electronic fixed income platform TradeWeb. The US bank will take a seat on the TradeWeb board, joining the nine other Wall Street dealers that paid $180 million for a minority stake in the platform last year (Electronic Trading, October 2007). The nine dealers had initially sold TradeWeb to Thomson Financial in April 2004.
On 02 Apr 2008 in ET-The Corporation, Electronic Trading
Plus Markets Group (PLUS), which has established a new small and mid-cap equity stock exchange in London, has reported a 140 per cent increase in its annual £2.98 million loss in its preliminary results ended 31 December 2007 compared to 2006, but says the performance was “in line with budgeted infrastructure development” that included its new OMX platform.
On 02 Apr 2008 in ET-The Corporation, Electronic Trading
BGC Partners, global full-service inter-dealer broker of financial instruments, and eSpeed, a provider of electronic marketplaces and related trading technology for the global capital markets, have completed their merger (Electronic Trading, March 2008). The Combined Company will trade as BGC Partners.
On 31 Mar 2008 in ET-News in Brief, ET-The Corporation, Electronic Trading
Orc Software, provider of technology for advanced derivatives trading and connectivity, has opened a new development centre in Chicago, Illinois. The centre will be responsible for developing solutions specifically for Orc’s growing North American client base.
On 20 Mar 2008 in ET-Algorithmic Trading, ET-The Corporation, Electronic Trading
Alphacet, developer of software solutions for quantitative analysts, traders and portfolio managers, has completed an initial round of financing by private investors, including Boston-based Saturn Venture Capital.
On 18 Mar 2008 in A-Team Free, AMIT-The Corporation, AsiaMarketsIT.com, Delivery Terms, ET-The Corporation, Electronic Trading 
Japan’s ITOCHU Techno-Solutions Corporation (CTC) and enterprise data fabric provider GemStone Systems say they have partnered to provide a data grid solution for financial computing systems. CTC will market GemStone’s data grid software GemFire Enterprise Data Fabric (GemFire EDF) and related software products as its high performance data access solution. The two will jointly promote the large scale grid computing environment for the needs of high performance and real-time transaction processing.
On 07 Mar 2008 in ET-The Corporation, Electronic Trading
The merger of BGC, the interdealer broker, with Nasdaq-listed technology firm eSpeed will enable the new organisation to “develop and improve” its products far more quickly, Phil Norton, executive managing director, global head of e-commerce, BGC, has contended. It should also lead to greater efficiencies and a more unified approach to client liaison.
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 12 Feb 2008 in ET-News in Brief, ET-The Corporation, Electronic Trading
BNY ConvergEx is establishing a broker dealer division in the UK - called BNY ConvergEx Ltd - that will house all its European-based businesses and services for the institutional investment community. ConvergEx’s European product offering targets global investment managers, pension schemes and funds, hedge funds and broker dealers. Services comprise electronic execution services in more than 50 markets including DMA and global algorithms and commission management services.
On 11 Feb 2008 in ET-The Corporation, Electronic Trading
GFI Group has acquired Trayport, provider of real-time electronic trading software for brokers, exchanges and traders in the commodities, fixed income, currencies and equities markets.
On 11 Feb 2008 in ET-The Corporation, Electronic Trading
NYFIX, provider of the Millennium dark pool, has relisted its shares on Nasdaq, with trading resuming from Monday February 11 under the symbol NYFX. The vendor hopes the transfer from an OTC quote will raise the stock’s price visibility and herald in a new era after recent challenging operational times.
On 07 Feb 2008 in ET-News in Brief, ET-The Corporation, Electronic Trading
GL Trade has completed the integration of FNX into the Group (Transaction Networks and Technologies, February 2007) and announced the new name of the operating division containing the former FNX, GL Trade Capital Markets Solutions.
On 04 Feb 2008 in ET-The Corporation, ET-Trading Technology, Electronic Trading
GFI Group has acquired Trayport, provider of real-time electronic trading software for brokers, exchanges and traders in the commodities, fixed income, currencies and equities markets. Trayport’s software is installed on more than 10,000 trading screens worldwide, dealing in more than 2000 different trading instruments and supporting more than 50 marketplaces across 15 countries.
On 10 Jan 2008 in ET-ECNs & ATSs, ET-The Corporation, ET-Trading Technology, Electronic Trading
Instinet Europe, indirect subsidiary of Nomura Holdings, has reached an agreement with a consortium of firms that will take a minority holding in Chi-X Europe, operator of the order-driven, pan-European equity multilateral trading facility (MTF) that has been garnering impressive volumes in Dutch, German, UK, French and Swiss stocks. Under the terms of the agreement, Instinet Europe retains the majority stake in Chi-X Europe.
On 09 Jan 2008 in ET-The Corporation, Electronic Trading
E*Trade Financial is to close its entire institutional sales business, returning to a focus on retail investment as part of a restructuring plan. This follows a disappointing performance and falling share price initiated by a far-from-positive report from the Egan-Jones Rating Company, which lowered its rating for E*Trade on January 7 2007.
On 09 Jan 2008 in ET-News in Brief, ET-The Corporation, Electronic Trading
Lime Brokerage has acquired a minority interest in CBOE Stock Exchange (CBSX), a subsidiary of the Chicago Board Options Exchange (CBOE), providing a new pool of liquidity for CBOE options traders’ hedging activity.
On 09 Jan 2008 in ET-ECNs & ATSs, ET-The Corporation, Electronic Trading
Zealous Trading Group has expanded the New York sales and trading effort of its Zealous ATS (ZATS) electronic marketplace and moved its offices to 230 Park Avenue, the Helmsley building, in Midtown Manhattan. The office move includes an increase in sales, trading, settlement and customer support professionals for its ZATS marketplace for restricted and illiquid securities. The company’s corporate headquarters will remain in Los Angeles where it will maintain a small institutional sales and trading effort for coverage of West Coast accounts.
