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NYSE Euronext to Form Block Trading Venture with BIDS

Oct 30, 2007 @ 04:33 PM By Ivy Schmerken,

NYSE Euronext said it plans to form a joint venture with a dozen Wall Street firms that own BIDS Trading, an alternative trading system (ATS), to help re-aggregate block liquidity.

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Fidessa Launches Canadian Smart Routing

Oct 30, 2007 @ 11:39 AM By Cristina McEachern,

Fidessa has launched a new Smart Routing Service for the Toronto Stock Exchange and Pure Trading, the first Canadian alternative market.

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Rumors Fly on Nybot Closing Trading Floor

Oct 23, 2007 @ 05:53 PM By Ivy Schmerken,

One more trading floor is turning into an endangered species if the rumors in yesterday’s New York Post are true. Yesterday, The New York Post reported (on Page Six) that New York Board of Trade (Nybot) is planning to officially shut down its futures pits in the next six months as electronic trading takes over the soft commodities marketplace.

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NeoNet Connects to Chi-X

Oct 23, 2007 @ 11:59 AM By Cristina McEachern,

NeoNet, a global DMA agency broker, announced it has connected to Chi-X, its first link to a European alternative trading system (ATS).

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Instinet Aims to Simplify Commission Management

Oct 15, 2007 @ 01:37 PM By Cristina McEachern,

Looking to simplify the commission management process for both institutions and their broker/dealer partners, Instinet has released two new offerings.

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Bear Stearns Makes Key European Portfolio Trading Hire

Oct 10, 2007 @ 01:59 PM By Cristina McEachern,

Bear Stearns has appointed Jenny Miller as senior managing director and Head of Portfolio Trading Sales, Europe.

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Canadian ATSs To Make A Splash in 2008

Oct 9, 2007 @ 05:54 PM By Ivy Schmerken,

Canada is experiencing a boom in alternative trading systems (ATSs) that is going to transform the behavior of the buy-side equity traders next year as they turn to technology to source liquidity.
According to a recent report by Toronto-based Competitive Metrics Inc., Canada is undergoing a dramatic shift from a dual market place structure dominated by the Toronto Stock Exchange (TSX), and upstairs block trading desks to more of a multi-market structure.

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SEC Director Sirri on Exchange Pressures

Oct 8, 2007 @ 11:18 AM By Cristina McEachern,

As exchanges are coming under more and more pressure from alternative execution venues and trade volumes decline, regulators are keeping a watchful eye.

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Analysts Weigh in on Nasdaq-BSE Acquisition

Oct 5, 2007 @ 04:14 PM By Ivy Schmerken,

Analysts are weighing in with their opinions on Nasdaq's acquisition of the Boston Stock Exchange for about $61 million, announced earlier this week. While many of us were still digesting Nasdaq's transactions with Sweden's OMX AB, Borse Dubai as well as the unwinding of its position in the London Stock Exchange, Nasdaq announced a second deal on the domestic front.

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STA Panel: Bright Future for Dark Pools

Oct 5, 2007 @ 08:07 AM By Cristina McEachern,

Finding and tapping liquidity is obviously a vital issue affecting traders across the board and at the Security Traders Association's (STA) 74th Annual Conference in Boca Raton, Florida, it was the focus of a key panel discussion.

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Tabb Group Hot Topic: Commission Sharing

Oct 4, 2007 @ 08:41 AM By Cristina McEachern,

Tabb Group has released its annual equity trading report, “U.S. Institutional Equity Trading 2007: Tracing the Path to Liquidity,” with some interesting findings for both the buy side and their sell side counter parts.

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Bank Julius Baer Implements BT Turrets

Oct 3, 2007 @ 02:57 PM By Cristina McEachern,

BT announced that Bank Julius Baer, a Swiss dedicated wealth manager, has implemented 200 of its ITS.Netrix trading turrets and ITS Management Suite across locations in Zurich, Geneva and Singapore. Going forward the firm plans to implement an additional 50 turrets in its New York City office.

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Nasdaq to Acquire Boston Stock Exchange

Oct 2, 2007 @ 10:46 AM By Ivy Schmerken,

As predicted, the global consolidation of exchanges is accelerating and the trend is taking out a storied member of the national market system (NMS). This morning, the Boston Stock Exchange (BSE) said The Nasdaq Stock Market would acquire it in a transaction worth $61 million. The agreement is subject to approval by the BSE members and the Securities and Exchange Commission.

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R.G. Niederhoffer Capital Management (New York)
Roy Niederhoffer
President and Founder

You have to rotate your models more rapidly today than you used to. Models that used to work have stopped working with greater rapidity lately. I think that this probably represents the entrance of a large number of players into the hedge fund space in ... More >>