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RealTick Integrates Two New UBS Algos

Jul 27, 2007 @ 11:24 AM By Cristina McEachern,

Townsend Analytics announced the availability of two new algorithms from UBS available on its RealTick Execution Management System (EMS). UBS’ Tap and TapNow algorithms, the latest from the firm’s Global Direct Execution Services, seek out both dark and displayed liquidity.

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Check out UBS's Trading Floor: Photos of the World's Largest Trading Floor

Jul 25, 2007 @ 02:52 PM By Kerry Massaro,

Everyone wants to be privy to the inner workings of a trading floor. We were fortunate enough to be invited (ok, we did some begging) to Stamford, Conn to take photos of UBS's floor, the largest trading floor in the world. We're featuring these photos in Anatomy of a Trading Floor, one of Advanced Trading's newest features. Our photographer took phenomenal shots that show the grand scale of the 1,400 seat floor and offer close ups of various trader's desks, now accompanied by detailed captions describing the technology being used.

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TradingScreen Releases MiFID In a Box

Jul 25, 2007 @ 12:19 PM By Cristina McEachern,

With the MiFID deadline approaching this fall and firms in the midst of preparations, TradingScreen has released its MiFID In a Box offering to help buy side firms meet the upcoming European regulatory guidelines.

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BATS: No More Dave E-Mails?

Jul 24, 2007 @ 02:24 PM By Kerry Massaro,

The question the industry has been clamoring about has been answered. "Will there be any more e-mails from Dave Cummings to BATS subscribers?"

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TABB Group’s Jeromee Johnson Departs to Launch Options ATS

Jul 24, 2007 @ 12:11 PM By Ivy Schmerken,

Jeromee Johnson, senior analyst at TABB Group, the financial markets research and advisory firm, is leaving his position this week to join 3-D Markets Inc., a software developer that is about to launch the first block crossing network for U.S. equity options. As of Aug. 1st, Johnson will run the day-to-day operations of 3-D Markets Inc., the software firm, founded in New Hope, Penn. by algorithmic trading guru Dave Mortimer, but he will also be responsible for product development, client integration, technical sales and a variety of other areas.

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Societe Generale Hires Shaw to Grow U.S. Electronic Trading

Jul 23, 2007 @ 10:46 AM By Cristina McEachern,

In an effort to expand its electronic trading operations in the U.S., Societe Generale has appointed John Shaw as managing director, program trading and electronic trading services.

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BATS Reacts to Changes at Direct Edge

Jul 19, 2007 @ 11:07 AM By Ivy Schmerken,

BATS Trading had a reaction to yesterday's blog that Citadel Derivatives is investing in Direct Edge ECN and that its parent Knight Capital is seeking to build a consortium of direct investors to grow the ECN's liquidity and might eventually consider exchange status. Even though Direct Edge appears to be taking a page from BATS' own strategy, here's what BATS Trading VP, Randy Williams, had to say:

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Knight Capital Lands Citadel Derivatives as Direct Investor in Direct Edge ECN, Seeks to Grow Consortium

Jul 18, 2007 @ 03:02 PM By Ivy Schmerken,

Citadel Derivatives Group is making a minority investment in Direct Edge ECN, signaling a change in strategy for parent Knight Capital Group, which is now looking to attract a consortium of direct investors to grow the ECN's volume to the next level.

According to today's announcement, Citadel Derivatives, an affiliate of Citadel Investment Group, LLC, the alternative asset manager, which is a leading equity market maker in its own right, has agreed to purchase a minority stake in Direct Edge ECN.

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ITG Launches Canadian Dark Book

Jul 16, 2007 @ 03:35 PM By Cristina McEachern,

Investment Technology Group (ITG) has launched its Match Now dark book for Canadian equities.

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CME-CBOT Merger Sparks More Takeover Talk

Jul 13, 2007 @ 04:32 PM By Ivy Schmerken,

Now that the $11.3 billion merger between the Chicago Mercantile Exchange (CME) and CBOT Holdings is a done deal, industry sources are speculating about the CME Group’s next acquisition. And while the Intercontinental Exchange raised its profile during the bidding battle, it missed out on the CBOT, and now it may need to merge with another exchange operator that wants to expand its derivatives business. Given the reality that consolidation of exchanges is moving like a tornado on steroids, it’s logical that the new combined company, CME Group, a CME/CBOT company, would be considering its next target. “Once they digest this merger, it would not surprise me if they go after another acquisition,” comments Michael Henry, senior executive in Accenture’s Capital Markets Practice who believes that it should be an international exchange.

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Turner to Build Out Overseas Client Base

Jul 11, 2007 @ 01:06 PM By Cristina McEachern,

In an effort to bolster its client base abroad, Turner Investment Partners has hired Peter Yarrow as managing director of its newly formed Turner International unit.

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The Buy-Side Rates JPMorgan and Lehman as Top U.S. Fixed Income Dealers

Jul 10, 2007 @ 10:33 PM By Ivy Schmerken,

JP Morgan and Lehman Brothers are the leading dealers with the highest market shares in U.S. fixed-income trading across products, according to a survey by Greenwich Associates, the financial services research and consulting firm headquartered in Greenwich, Conn. released on Monday. Both dealers also have the top rating by institutional investors for delivering the best service qualify across fixed-income sales, research and trading.

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DSAL Reaches New Speeds in Complex Event Processing

Jul 9, 2007 @ 11:54 AM By Cristina McEachern,

Data Stream Analysis (DSAL), a U.K.-based provider of low latency solutions for processing real-time streaming data, recently completed performance testing of its processing speeds, reaching rates of 200,000 calculations and 1.5 million updates per second.

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FX Concepts (New York)
Phil Simotas
President and Director of Investment Management

Algorithmic trading is one area. And, obviously, because currencies are our focus, we're always trying to improve our techniques and our models in all areas -- whether it's in emerging currencies, options, developed currency portfolio formation, any of that. But the areas ... More >>