Month: March 2013

SurfacExchange Kills Sale Rumours

Options trading platform provider SurfacExchange has moved to kill rumours of an impending sale to BGC brokers. Profit & Loss understands that tentative enquiries were made by BGC Partners to buy the firm, which has also grabbed the attention of third party investors, but that a deal has advanced no further. According to a message […]

UBS Joins FXSpotStream as Liquidity Provider

UBS has joined FXSpotStream (FSS) as the price aggregation services’ eighth liquidity providing bank. UBS joins existing members Bank of America Merrill Lynch, Citi, Commerzbank, Goldman Sachs, HSBC, JP Morgan and Morgan Stanley, the majority of which are shareholders of parent company, LiquidityMatch, based in Jersey City. FSS provides a multibank FX aggregation service to […]

And Finally…

What on earth would make me argue for another platform? A different mechanism that’s what. It was suggested to me in an email last week that I really don’t like regulators. Absolutely wrong, I just don’t like some of the regulations that are being pushed through as they are only likely to degrade, rather than […]

Tech Corner

The London Metal Exchange (LME) has joined financial infrastructure services provider, TMX Atrium’s community to access multi-asset trading locations by linking to LD4 (London 4) and Interxion. The link supports access to the LME’s trading and back-up centres for TMX members, allowing them to trade between equity, FX, derivative, multi-asset class and commodity venues. Misys […]

On the Move

BNY Mellon Expands Global Derivatives Clearing Team BNY Mellon has made five appointments to its global derivatives clearing leadership team across Europe and the US. Sanjay Kannambadi, global head of derivatives clearing services explains the expansion, “Regulatory and market changes are driving strong interest globally from clients trading derivatives who are seeking a clearing partner […]

Financial Firms Externalising Post-Trade Services

Financial firms are increasingly turning to external service providers for post-trade simplicity and to reduce technology costs and risks, enabling easier entry into new asset classes, according to a report from Broadridge Financial Solutions. The technology and operations services providers’ latest report addresses the “multi-asset class conundrum”, and suggests a best practices roadmap to support […]

Knight Hotspot FX FIX Certifies FXone

Knight Hotspot FX has FIX certified FXone, an automated trading platform that uses spreadsheet-logic-based algorithms to develop trading strategies. As part of the deal, Hotspot’s suite of products and services are available through FXone, adding to the company’s customised liquidity offering. The platform can be used in a number of ways, supporting analytics, data visualisation […]

73% of CTA/CPOs Impacted by FCM Failure: Survey

Almost three quarters of the commodity trading advisors (CTAs) and commodity pool operators (CPOs) were impacted by the failure of one or more futures commission merchants (FCM), according to a survey by Horizon Cash Management. The investment advisory firm says that 73% of survey respondents were affected by one of the FCMs mentioned in the […]

TriOptima Completes First Precious Metals Compression Cycle

Icap’s OTC derivatives post-trade risk management provider, TriOptima, has completed the first triReduce compression cycle for precious metals forwards and swaps, terminating $7.2 billion in notional principle outstandings. The firm has been working with six institutions to expand its compression activity range, says the company, resulting in companies being able to reduce their gross positions […]

GFI to Commence Operations in Mexico

GFI Group says its Mexican affiliate, GFI Grupo Mexico, is fully compliant with all pertinent Mexican regulations and may now officially commence operations following the granting of a license to operate by CNBV (Comisión Nacional Bancaria y de Valores). GFI says it has worked closely with the Mexican authorities to ensure its Mexican affiliate is […]