The high-tech trading firm known for its dominance of the exchange-traded fund market is pushing into the corporate bond market. Investment banks and brokerages are the main go-betweens for money managers looking to buy and sell corporate bonds, about $25 billion of which trade daily in the U.S.  Now, Jane Street Capital LLC, has begun offering the same service to investment firms on electronic trading platform MarketAxess and has recruited about 60 clients, according to a story in The Wall Street Journal. Founded in 2000, Jane Street is a proprietary trading firm that specializes in...

Nasdaq Inc. and the Jamaica Stock Exchange (JSE) have signed a new seven-year agreement for Nasdaq to deliver matching engine and market surveillance technology (SMARTS) to the Jamaica Stock Exchange. Via the Nasdaq Matching Engine, JSE will have the ability to offer new products, enhance current trading capabilities and improve the latency of order execution. The market surveillance technology will provide the exchange the ability to closely monitor trade activities while strengthening market integrity.   

Broadridge Financial Solutions, Inc. announced the launch of Broadridge Securities Lending Board Insights, a firm-specific fund-by-fund comparative securities lending assessment solution for mutual fund companies and the boards that oversee their funds. This client-specific report lets companies monitor the relative cost, fee ‘splits’, and income obtained from their securities lending arrangements. It will also help all interested parties receive appropriate rewards for the risks they undergo in their lending programs and helps to reduce risk related to mal-distributed...

Virtu Financial, Inc. and MarketAxess Holdings, Inc., two global leaders in electronic trading, announced a partnership to provide institutions with enhanced trading tools and access to global exchange-traded funds (ETFs) and fixed income securities.  According to a story in Markets Media, the effort, which includes the distribution of Virtu’s streaming eNAV ETF fair value offering, is expected to launch in the third quarter.

NYSE’s multi-year migration to its Pillar integrated trading platform is on its final leg as the exchange operator prepares for the mid-year launch of its NYSE Pillar Gateway according to a story in MarketsMedia. The platform enables users to connect to NYSE’s equities and options markets using a single platform. As part of the rollout, NYSE will introduce new functionality across its markets and infrastructure in phases over the next three months to prepare for the Tape A Pillar launch. The new capabilities will be available on NYSE National, NYSE American, and NYSE Arca...

FIF Cloud Technology Working Group - Ed Featherston of HPE presented a spotlight topic focused on the challenges and benefits of the Cloud migration process. Mr. Featherston's advice ranged from cybersecurity tips to the prep work your firm should consider before starting the migration process to challenges met across implementation.  FIF CAT Tech Spec Subgroup - FIF held two tech spec requirements subgroup meeting the week of April 1.  On Wednesday, April 9, FIF focused on the changes that have been made to the current version of the CAT Industry Member Technical...

FIF will be attending a luncheon/panel discussion hosted by Equinix on Wednesday, April 10.  The event will focus on the Consolidated Audit Trail, including data privacy issues, industry best practices, IT infrastructure requirements, and the long term benefits of CAT. The panel will be moderated by FIF Advisory Chair, Tom Jordan, who will be joined by Cindy Retterer of Nasdaq, Inc.  John Knuff of Equinix, Maria Zeckhausen of Credit Suisse.    

FIF will be joined with a contingent of member firm representatives at an in-person meet with SEC Division of Trading and Markets Staff on Rule 606 on Thursday, April 11th.  FIF will discuss several remaining challenges with respect to the implementatation of Rule 606.  

FIF is pleased to announce that D.A. Davidson has joined the FIF Community.