Tech and data
Ion Trading to acquire Wall Street Systems
Deal expected to close within months and makes a natural combination of specialities, according to industry observers
Reserve managers diversify away from traditional currencies, report finds
Non-traditional currencies play an increasingly important role in central bank holdings as a result of eurozone sovereign debt concerns and ongoing economic weakness in developed markets, according to Central Banking Publications report
WallStreetdocs pitches document search engine to banks
Document automation specialist to launch new offering next month
FXall to roll out buy-side benchmarking tool
Move follows a similar product launched in partnership with ITG in May 2010 that has seen limited adoption among buy-side firms
Wall Street Systems up for sale
Technology vendor Wall Street Systems is up for sale after US private equity firm Warburg Pincus, which acquired the vendor in 2006, undertook a tender process in late 2010 to gauge market interest in its holding. Wall Street Systems declined to comment.
In Brief, March 7, 2011
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Algo trading could benefit from Sef rules, say participants
Algorithmic trading has gained traction in the FX markets in recent years and some providers say their platforms might comply with the criteria for swap execution facilities in the US. Could they face a growth opportunity when the regulations come into…
Malfunctioning algos could cause another flash crash, academic warns
Robotic foreign exchange trading systems could malfunction and lead to a repeat of the May 6 flash crash in the US, according to David Cliff, professor of computer science at the University of Bristol.
In Brief, February 21, 2011
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SuperDerivatives moves to improve options pricing transparency
Client push for more transparency in pricing methodology drives vendor to add new models and publish secret source code.
Global FX Division establishes FXPB
The Global FX Division (GFXD) of AFME/SIFMA/ASIFMA announced the formation of a working group to focus specifically on the challenges and issues surrounding global FX prime brokerage (FXPB) and to implement over-the-counter FX clearing for clients.
Nomura builds out with smartTrade
Nomura went live with smartTrade Technologies’ liquidity management system (LMS) in November for its electronic FX trading business, with plans to scale the technology across other asset classes.
smartTrade upgrades clients with StudioAir
smartTrade is migrating clients from smartTrade Studio to StudioAir, an upgraded version of its front-end trading application that enables traders to customise desktop views.
'Barracuda trading' swims to the fore in Europe
French finance minister Christine Lagarde yesterday told a parliamentary committee that high-frequency trading (HFT) should be regulated "very strictly", and even banned in "exceptional" circumstances.
FXecosystem gets Series A funding
Trading infrastructure vendor FXecosystem has completed a Series A funding round from New York and London-based investors.
In Brief, November 15, 2010
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In Brief, November 8, 2010
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smartTrade launches LiquidityConnect for FX
Liquidity management software vendor smartTrade Technologies has launched LiquidityConnect for FX, it announced on November 2.
In Brief, 1 November, 2010
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In Brief, October 25, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.