The Chicago Stock Exchange (CHX) will become part of the Intercontinental Exchange (ICE), owner of the New York Stock Exchange (NYSE), and the acquisition will pave the way for the CHX’s usage of the NYSE Pillar trading technology, officials say. The merger is slated to close during the second quarter of 2018, officials say. ICE… Read More >>
Hedge Funds to Use AI, Automated Trading over Next Five Years
Hedge fund managers say that technology including artificial intelligence (AI) and automated trading will have an increasing impact upon competition over the next five years, according to a survey of more than 100 global hedge fund managers, overseeing approximately $300 billion of assets under management (AUM). With a focus on regulatory and operational issues, the… Read More >>
CFTC Puts Nymex, Comex Through Rule Enforcement Tests
CFTC Finds One Area for Improvement A rule enforcement review of the New York Mercantile Exchange (Nymex) and the Commodity Exchange (Comex) by the CFTC’s Division of Market Oversight has yielded a recommendation that both exchanges institute a better way to monitor position limit exemptions. Market participants can exceed position limits as long as they… Read More >>
Nasdaq Engine Drives Tokyo Commodity Exchange
The Tokyo Commodity Exchange (TOCOM) has launched its new trading system, which is operated by Nasdaq’s Genium INET technology, as well as Nasdaq Pre-Trade Risk and SMARTS Market Surveillance solutions, officials confirm. The new system is now fully integrated with the Osaka Stock Exchange’s derivatives trading system (J-GATE), which also runs on the same Nasdaq… Read More >>
Tullett Prebon Buys CME’s Hybrid Trading IT
Interdealer broker Tullett Prebon is acquiring from CME “a long term license of a hybrid trading technology” that it will further develop internally “to provide bespoke, proprietary, customer-facing capabilities,” officials say. Tullett Prebon has been busy lately, having purchased the hybrid, U.S. voice-broking business operations of Creditex from the Intercontinental Exchange (ICE), and before that… Read More >>
New FIX Version Supports Nanosecond Connections
A version of the FIX electronic trading protocol that supports high-performance transactions and data feeds is officially launching via the FIX Trading Community standards body, in an effort to help securities firms keep up with high-speed hardware, software and network connections. The standards body is releasing “a standard, non-proprietary binary message encoding” upgrade, dubbed the… Read More >>
Q&A: Why OpenDoor is Building a T-Bond Trading Platform
(Editor’s note: Trading systems vendor OpenDoor Trading announced last week that it is working closely with high-performance financial technology solutions provider Broadway Technology to hasten the development of a transaction platform for the U.S. Treasury bond market. They are joining forces and “ramping up for an early-Q4 launch” to meeting the demands of institutional investors… Read More >>
Trillium App Retrieves Historical Data for Free
Financial services firm and trading technology vendor Trillium is melding new and old school technologies via a free mobile app for Apple iPhones that offers depth-of-book quotes for the U.S. equities markets to facilitate transaction analysis. The vendor hopes that a key beneficiary of the new app may be asset managers required to analyze best… Read More >>
BGC Bid for GFI Challenges CME’s Offer
Interdealer broker BGC Partners wants to acquire rival GFI Group via a direct appeal to shareholders that could undo the CME Group’s two-step bid for GFI Group, announced in July. In addition to intermediary brokerage services, GFI offers trading technology and support services for over-the-counter and listed markets. The businesses for these services are playing… Read More >>
