The global execution management systems (EMS) market is worth a minimal US$1.5 billion a year, with a core 15 to 20 providers supplying solutions to about 12,500 firms and all are intent on raising market share through further technology development.
Verizon Business has responded to Burgundy’s complaint to the Swedish Competition Authority that it acted unfairly in refusing to co-locate the Burgundy matching engines at its Stockholm data centre with a distinct ‘no comment’.
FlexTrade Systems is acquiring Citi’s ColorPalette US equities order management system (OMS), promising users of the OMS access to more asset classes and freeing Citi to concentrate on its core capabilities in electronic trading. Terms of the deal were not revealed, but it is expected to close before the end of the year.
Burgundy, the Nordic multilateral trading facility (MTF) backed by 14 of the region’s leading banks and brokers, is moving its matching engines to Interxion’s financial hub in Stockholm, with go live due in the first quarter of 2011.
UBS Investment Bank has made a strategic equity investment in high frequency trading technology specialist Mantara, becoming the first investor to cut a commercial deal with the company and extending its reach in the high frequency, low latency trading market.
The Securities and Exchange Commission’s (SEC) call for comments on a consolidated audit Trail (CAT) did not deliver a deluge of responses, but two significant letters from FTEN and TickLab argue fervently for a solution based on commercially available technology rather than the SEC’s proposal of bespoke development. They indicate that such development that could take years to build at a cost of US$4 billion and a further annual cost of US$2.1 billion.
The autumn season of 2010 holds the promise of extreme exchange action in the European arena as all of the major incumbent exchanges proceed with major investments in their matching engine, data centre and connectivity infrastructures. Clearly, this has all come in response to the arrival of a glut of multilateral trading facilities (MTFs) since the launch of the most successful of them – Chi-X Europe – back in mid-2007.
Click below to watch the recorded webinar, download the audio or download the white paper–for free! In 2010, financial markets participants will continue to expand their trading activities as liquidity increasingly becomes fragmented, seeking alpha in new markets, best execution in dark pools, arbitrage opportunities across the order book and by implementing high frequency and complex, multi-leg, cross asset class strategies.
SunGard has extended its Valdi Market Access solution with the addition of a hosted connectivity service to EuroTLX, a Milan based European multilateral trading facility that claims to the first fixed income market in Europe focused on retail investors.
US-based open source software specialist Marketcetera and German consulting and technology provider Lakeview Capital Market Service have created a hardware acceleration solution for algorithmic electronic trading. The two claim the new platform can achieve calculation speeds 10 to 200 times faster than those achieved by commercial trading systems running calculations on traditional hardware.
A-Team Insight Events combine A-Team's expertise in financial markets IT with thought leadership from world-class technology innovators and practical experience from financial market practitioners. In 2011, a quality constituency will once again gather for these focused events in London and New York City.
Lime Brokerage and Tbricks have teamed up to combine the agency broker’s ultra high speed infrastructure and the trading software supplier’s high performance trading systems for the benefit of high frequency trading firms, hedge funds and broker-dealers that require high volume and low latency access to the US markets.
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