Agency execution specialist Liquidnet has released in the U.S. a new algorithm for its equities platform. Dubbed SmartDark, the algorithm is intended to help institutional traders prioritize “routing to venues with larger execution sizes and better price stability,” officials say. “SmartDark incorporates a variety of yield and quality metrics to give traders an optimal blend… Read More >>
Instinet Sells Fox River Business to Clear Street
Brokerage firm Clear Street, which leverages cloud-native, financial technology, has acquired the Fox River algorithmic trading business of brokerage Instinet, which only two years ago purchased the group from FIS. In October 2023, Instinet completed the purchase of the FIS Execution Services business, previously known as Fox River, from FIS. The original purchase agreement was… Read More >>
Raymond James Launches Customizable Algo Platform
Raymond James Financial has launched a new algorithmic trading platform, dubbed Raymond James Electronic Trading (RJET), that targets more than 1,000 institutional clients, including buy-side firms, hedge funds, and long only funds, officials say. “Equity trading continues to shift toward electronic channels, especially in the wake of unbundling among some of the largest asset managers… Read More >>
Northern Trust via CDCC Directly Clears Canadian Derivatives
Northern Trust to Take Part in Expanded CDCC Program Northern Trust Canada officials have announced that they launched a direct clearing of cash and repurchase agreement (repo) trades for fixed income securities through an expansion of the clearing model of the Canadian Derivatives Clearing Corp. (CDCC), officials say. In addition, Northern Trust reports that it… Read More >>
