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Morgan Stanley, Trading Technologies Ink Deal

Nov 28, 2007 @ 02:39 PM By Cristina McEachern,

Under a new strategic agreement, Morgan Stanley’s Client Listed Derivatives group will make Trading Technologies X_Trader platform available to its customers as well as its internal trading desks on a global basis.

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Retail Traders Apply Algorithms to FX

Nov 27, 2007 @ 05:03 PM By Ivy Schmerken,

As online brokers make foreign exchange trading more accessible to retail traders, algorithmic trading is spreading beyond institutions to the savvy individual. “We’re seeing retail traders now come in building their own models and who are involved in high-frequency trading,” says Thomas Plaut, CEO of FX Solutions, an Internet-based foreign exchange broker in Saddle River, New Jersey, that provides a global trading system specializing in the top 20 high volume currency pairs.

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LongView and BIDS Announce Connectivity

Nov 27, 2007 @ 02:14 PM By Cristina McEachern,

Linedata Services announced connectivity between its LongView Trade Order Management System (OMS) and the BIDS altnerative trading system (ATS) for anonymous block trading.

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ATSs Favor Independent Tech Supplier

Nov 26, 2007 @ 03:00 PM By Ivy Schmerken,

New alternative marketplaces that are gearing up to compete with traditional exchanges are staying clear of the exchange-aligned technology solution providers. In late October, Turquoise, the consortium led by seven investments banks to build an alternative trading system to the London Stock Exchange and other traditional European exchanges, chose Stockholm-based Cinnober Financial Technology AB to build its matching engine.

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Exchange Consolidation Raises Issues for Staying on Rival's Technology Platform

Nov 26, 2007 @ 11:28 AM By Ivy Schmerken,

Everyone’s talking about the wave of global exchange consolidation, but what about the exchanges that end up running on a competitor’s technology platform? It’s interesting to consider whether exchanges that run on a trading platform that gets acquired will try to ditch the technology once it’s owned by another exchange competitor.

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SIFMA Fixed Income Conference Highlights Risk Management

Nov 19, 2007 @ 05:04 PM By Ivy Schmerken,

Given the credit market turmoil causing top firms to report multi-billion dollar losses, it’s not surprising that risk management was a major theme at the SIFMA Fixed Income Technology and e-Trading Conference last Thursday in New York. “Risk is much more important and front and center in our minds,” said Dexter Senft, managing director at Lehman Brothers, in his introductory remarks to the conference.

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Electronic Trading in Asia: the Pitfalls and Opportunities

Nov 19, 2007 @ 01:53 PM By Cristina McEachern,

The opportunities and challenges of electronic trading in Asia was the focus of a roundtable discussion sponsored by NeoNet Securities today in New York.

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Knight to Acquire Agency Brokerage EdgeTrade for FAN

Nov 19, 2007 @ 01:19 PM By Kerry Massaro,

FAN, the Find And Nail algorithm, created by agency brokerage EdgeTrade, has found a fan in Knight Capital Group.

EdgeTrade’s development of FAN, which simultaneously sprays aggregated dark pools and public markets and continuously moves an order in line with shifting liquidity, has led to a lucrative courtship by Knight, a full service broker-dealer, which announced its intentions to acquire EdgeTrade this morning for $59.5 million.

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Expert Analysis of Thain’s Move to Merrill

Nov 14, 2007 @ 03:49 PM By Ivy Schmerken,

John Thain is reportedly leaving the top position at NYSE Euronext to assume the CEO mantle at brokerage house Merrill Lynch & Co., which is reeling from its write-downs in the sub-prime mortgage mess.

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Progress Apama Partners with FXall for Accelor Access

Nov 13, 2007 @ 09:34 AM By Cristina McEachern,

Progress Software announced that its Progress Apama algorithmic trading platform now offers access to FXall’s Accelor foreign exchange anonymous electronic communication network (ECN).

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Commentary: Nasdaq PHLX Acquisition

Nov 7, 2007 @ 02:18 PM By Cristina McEachern,

As Brad Bailey, senior analyst at Aite Group, puts it, “where there’s smoke, there’s fire.” And of course to exchange consolidation watchers it’s no big surprise then that Nasdaq announced its acquisition of the Philadelphia Stock Exchange for $652 million.

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BATS Trading Seeks Exchange Status in SEC Filing

Nov 6, 2007 @ 11:48 AM By Ivy Schmerken,

BATS Trading, the alternative equity marketplace, moved to become a fully licensed securities exchange, filing an application with the U.S. Securities and Exchange Commission yesterday.

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Merrill Partners for Independent Media Research

Nov 2, 2007 @ 10:38 AM By Cristina McEachern,

Merrill Lynch announced an exclusive distribution agreement with Global Media Intelligence (GMI), a provider of independent research on the media sector.

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ITG Drops Sell SIde Algo Access to POSIT

Nov 1, 2007 @ 12:30 PM By Cristina McEachern,

In a letter sent to clients today, ITG informed its user base that sell-side algorithmic access to POSIT will be discontinued as of November 8, 2007.

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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 >>