Low latency infrastructure specialist Endace Technology has submitted feedback to the European Commission’s MiFID review, recommending mandatory one nanosecond time stamp increments in pre and post-trade data feeds, clock synchronisation to GPS time signals and a consolidated tape that incorporates these timing recommendations. The New Zealand based company also suggests the Commission should consider the need for consistent standards in the area of cyber security, especially for major execution venues.
Plus Markets’ plans to develop a competitive stock exchange by creating new products and services on the basis of its status as a recognised investment exchange are underpinned by a technology strategy that builds on Algo Technologies’ software.
Completing its transition from an ECN to regulated exchange status, Jersey City-based Direct Edge today announced the launch of trading across all stock symbols on its EDGA and EDGX “next generation” trading platforms, the result of almost two years of planning and collaboration with a raft of technology partners, including Microsoft, HP, Intel and Cisco Systems.
Gain Capital, best known for its retail Forex.com portal, is today launching GTX, a foreign exchange electronic communications network (ECN) aimed at the professional marketplace for FX trading, including financial institutions, hedge funds, CTAs, high frequency traders, broker/dealers and high net worth individuals. Gain is tapping technology from Bermuda-based Forexster to underpin the new initiative.
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.
Following its signing of an agreement to acquire Chi-X Europe back in February (see the release here), Bats Global Markets has today announced that Bats Europe and Chi-X Europe are to merge and the combined operations will be located at the Equinix Slough LD4 data centre. This move will require the relocation of Bats Europe’s integrated and dark books from the London Docklands (LHC) data centre to LD4 and the migration of Chi-X Europe’s integrated and dark books to Bats Europe technology.
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So as somewhat expected, Nasdaq OMX is making a play for NYSE Euronext, pulling in IntercontinentalExchange as a partner, and offering a good premium over Deutsche Boerse’s bid.
Regulatory issues - which are likely to be significant for both bids - aside, the Nasdaq/ICE bid looks credible on paper. But what does it say - and what can one speculate - about the resulting trading platform and markets technology businesses?
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