The rate of change in market structure has slowed for US markets in recent years, and tools and infrastructure that were once the exclusive realm of the most elite prop trading firms, are increasingly becoming available to a broader range of market participants. Examples would include wireless transport of market data, FPGA's built into network cards, predictive quote feeds, and combinations of the above. Taken together these tools can be combined into ultra-rapid quote to trade strategies. These same tools, used on the agency trading side, can somewhat level the playing field, and the...

Nasdaq announced that it is establishing connectivity to three data centers in Hong Kong to increase its service to the Asia-Pacific (APAC) region through a Nasdaq Point of Presence (POP), helping to provide more efficient, cost-effective access to Nasdaq financial data in the region. In July, Nasdaq will begin to offer easy access to data from the U.S. financial markets via POP services in the following Hong Kong data centers: HK1 Equinix, Mega-i, and HKEx. The Nasdaq POP is designed to enable firms to access market data and trading applications, as well as APAC financial web portals, with...

SIX has chosen Clearstream Banking as a strategic partner to consolidate its fund processing activities. Clearstream’s investment fund processing infrastructure, Vestima, enables processing of all types of funds – from mutual funds to hedge funds – on a single platform. Centralized solutions such as Clearstream’s Vestima platform support market participants to comply with the regulatory requirements and new rules on risk mitigation. With its delivery-versus-payment settlement process, Vestima’s secured transaction model helps to optimize operational efficiency...

Fidessa and BNP Paribas have entered into a partnership through which the bank will provide its buy-side clients with access to Fidessa's futures and options workstation. BNP Paribas originally implemented Fidessa's derivatives trading platform in 2016 to support its global futures and options trading operations from hubs in Chicago, London and Hong Kong. Under this new agreement, BNP Paribas will distribute Fidessa’s derivatives trading platform, branded Cortex Listed, to its institutional clients across all regions, providing them with fully-hosted execution...

Broadridge Financial Solutions, Inc., a global fintech provider, has expanded its global market intelligence business with the acquisition of MackayWilliams, a specialist European fund market and research firm. The acquisition will combine Broadridge’s fund data and analytics solutions with MackayWilliams’ insight into European mutual fund trends, brand perceptions and fund selector behavior, offering clients a more integrated and holistic view of retail and institutional markets across regions. MackayWilliams provides proprietary sentiment and brand data from over 1,000 annual...

The Depository Trust & Clearing Corporation (DTCC) announced new efforts to further streamline its global trade reporting capabilities as market participants prepare for the upcoming reporting requirements contained within the Securities Financing Transaction Regulation (SFTR), which are expected to begin to take effect in late 2019. SFTR will require firms which are subject to SFTR to report securities financing transactions including repurchase agreements, securities lending and margin lending trades to a registered Trade Repository. By collaborating with EquiLend & Trax and IHS...

Intercontinental Exchange, Inc. (ICE), announced that Betty Liu, a business journalist and entrepreneur, is joining the New York Stock Exchange as Executive Vice Chairman. Her appointment takes effect July 9. Liu will also join the NYSE Group Board. Liu is the Founder and CEO of Radiate, Inc. and a 10-year veteran of Bloomberg Television, where she most recently co-anchored Bloomberg’s “Daybreak Asia” and “Daybreak Australia.” In her new role at NYSE Group, Liu will bring her global experience working with thought leaders, newsmakers and C-level executives to...

Itiviti and ULLINK, the recently merged global provider of multi-asset trading technology and financial infrastructure, announced that Galaxy Derivatives Company (GDC) has implemented Itiviti’s trading solution for options market making on Zhengzhou Commodity Exchange (ZCE) and Dalian Commodity Exchange (DCE). Since 2015, Galaxy Futures Co. Ltd. and Itiviti have cooperated to provide high-speed connectivity to Chinese Exchanges and facilitated trading for their mutual clients via Galaxy Futures’ memberships. Acknowledging the scale Itiviti’s solutions provide, Galaxy...

Intercontinental Exchange (ICE), an operator of global exchanges and clearing houses and provider of data and listings services, announced that it has entered into an agreement to acquire TMC Bonds LLC for $685 million in cash. The transaction is expected to close in the second half of 2018, subject to customary regulatory and anti-trust approvals. Established in 2000, TMC Bonds is a fixed income marketplace, supporting anonymous trading across multiple protocols, including click-to-trade and request-for-quote (RFQ) in various asset classes including Municipals, Corporates, Treasuries,...