MarketsWiki Page of the Day

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July 31

Trayport

125px-Trayport_Logo_black_on_white.jpg

Trayport is a London-based firm that specializes in developing software and networks to facilitate online trading across multiple asset classes. CME Group’s acquisition of GFI Group, reported yesterday, was done mainly so that the CME Group could acquire GFI’s Trayport and FENICS businesses. View page

July 30

GFI Group

GFI Group Inc. is an interdealer broker that specializes in over-the-counter derivatives products and related securities. On July 30, 2014,  CME Group announced it will be acquiring GFI in a deal valued at $580 million, in order to acquire GFI’s Trayport and FENICS businesses. Following the acquisition, CME will sell the inter-dealer business to a private consortium led by GFI Executive Chairman Michael Gooch for $165 million in cash. View page

July 29

Robert Greifeld

Robert Greifeld is the CEO of NASDAQ OMX. He assumed leadership of NASDAQ in 2003, when the company operated one equity market in the U.S. In a July 28 market structure roundtable hosted by Rep. Scott Garrett (R, New Jersey), Greifeld said that dark pools have become “perverted” and that the SEC’s Regulation NMS has led to fragmentation to the degree that best execution has become “virtually meaningless.” View page

July 28

Alan C. Greenberg

Alan C. “Ace” Greenberg, who led Bear Stearns up from a small bond shop to one of the world’s biggest securities firms, died Friday at the age of 86. View page

July 25

London Metal Exchange

Yesterday the London Metal Exchange (LME) announced that it would upgrade its network service to provide three access levels to its electronic systems, including one geared to high-frequency traders. View page

July 24

Robbie McDonnell

Robbie McDonnell is the executive vice president of global sales for Trading Technologies International, Inc. He was promoted to the role in July 2014 after serving as managing director of sales for the firm’s Asia/Pacific region.  McDonnell will relocate from Sydney to TT’s Chicago headquarters. View page

July 23

William O’Brien

William O’Brien stepped down as the president of BATS Global Markets on Tuesday. He joined the company after serving as CEO of Direct Edge before it merged with BATS in January 2014. View page

July 22

Scott D. O’Malia

Scott D. O’Malia is one of the five commissioners of the  Commodity Futures Trading Commission. He also serves as the chairman of the commission’s Technology Advisory Committee. In July 2014 he announced his resignation from the commission, effective August 8, and on August 18 will become CEO of the International Swaps and Derivatives Association (ISDA).  [ View page]

July 21

Intellectual Property Exchange International, Inc.

The Intellectual Property Exchange (IPXI) announced today that they have successfully closed their first two initial offerings of unit license rights. The offerings are based on patent rights to prepaid stored value card (SVC) technology owned by JPMorgan Chase Bank, N.A.  Trading on the contracts can now take place on the IPXI Trading Platform. View page

July 18

Gerald Corcoran

Gerald F. Corcoran is the chairman and chief executive officer of futures brokerage and clearing firm R.J. O’Brien (RJO).  The FIA board today announced that they have elected him to serve as chairman of the Futures Industry Association (FIA).  He will serve as chairman until the next board meeting in March 2015. He was previously vice chairman. View page

July 17

Chris Gibson-Smith

Chris Gibson-Smith, chairman of the London Stock Exchange Group (LSE), Europe’s largest cash equities platform, will step down from that position in 2015 after more than 11 years in the role. View page

July 16

Jump Trading

Jump Trading is a proprietary trading firm with a focus on technology and, specifically, algorithmic and high-frequency trading strategies. The firm has over 350 employees in the futures, options and equities markets in New York, Chicago, London and Singapore. According to a July 15th Bloomberg story, in 2013, a Jump Trading affiliate purchased a microwave transmission tower, previously owned and used by NATO, to send high-frequency trading messages.  [ View page]

July 15

NinjaTrader, LLC

NinjaTrader, LLC,  a software developer focused on retail trading, has launched Ninja Trading Brokerage, a new introducing broker that was the result of NinjaTrader’s acquisition of Chicago-based Mirus Futures earlier this month. JLN’s Jim Kharouf wrote about the launch in “Better Mousetrap Tech? NinjaTrader looks to disrupt with new IB” in John Lothian News today.  Read more here: http://jlne.ws/1rnLpeM View page

July 14

Darryl Hooker

Darryl Hooker was just named head of EBS Market, ICAP‘s electronic foreign exchange trading business.  He has served at EBS and other ICAP subsidiaries for more than 15 years, most recently as head of strategic currency initiatives. View page

July 10

RTS Realtime Systems Group

Bloomberg LP announced yesterday that it had acquired RTS Realtime Systems Group for an undisclosed price.  Bloomberg said it would integrate RTS’s multi-asset trading solutions and services with Bloomberg’s suite of trading technologies. View page

July 9

Dan Day-Robinson

Dan Day-Robinson is managing director for Global Training Group (“GT Group”), a risk management advisory firm that provides consulting and training services for the financial sector. On July 1, 2014, Day-Robinson was named vice-chairman of the Swiss Futures and Options Association (SFOA), a professional association for the global derivatives sector. View page

July 8

James P. Gorman

In today’s Wall Street Journal, James Gorman, chairman and CEO of Morgan Stanley gives his insight on the future of banking. Gorman expects bigger banks to thrive while smaller branches disappear. He also gives a warning to the rise of cyber attacks and cybercriminals, and concludes that cash will eventually end up as a museum piece. View page

July 7

Eurex

Today Eurex launched its first suite of six foreign exchange futures and options, in a challenge to CME Europe‘s dominance in those derivatives.  Eurex also just introduced a new clearing architecture, branded C7, to support both listed and OTC derivatives and compliance with the new derivatives regulations under the European market infrastructure regulation (EMIR). View page

July 3

GFT Group

GFT, a German company that supplies IT solutions to the financial industry, just acquired Rule Financial, a London-based investment banking consultancy.  The deal adds about €42 million to GFT’s turnover for the second half of this year, and GFT sees it as strengthening their position in the UK capital markets sector. View page

July 2

David Cummings

David Cummings, the founder and chairman of the high frequency trading firm Tradebot Systems Inc., is returning to the company as CEO.  He had been CEO from 1999 to 2005 but then left to launch the venture that became BATS Global Markets.     View page

July 1

Philippine Stock Exchange

The Philippine Stock Exchange has agreed to purchase Nasdaq OMX‘s X-stream Trading technology as part of an overhaul for the exchange’s expansion into derivatives trading and to allow the widespread use of short selling. This move marks the end of the PSEtrade system, which was purchased by NYSE Euronext Technology SAS in 2010. PSE is expected to transition to X-stream Trading by mid-2015. View page

June 30

BlackRock Inc.

BlackRock is the world’s largest asset manager and provider of  exchange traded funds, with $3.86 trillion under management.  On June 27, 2014, the company disclosed it had received a Wells Notice from the  Securities and Exchange Commission, and that a civil action may be forthcoming related to disclosures tied to a former BlackRock portfolio manager.  [ View page]

June 27

Barclays Bank plc

After New York Attorney-General Eric Schneiderman brought a lawsuit against Barclays Bank accusing it of favoring high-frequency traders in its dark pool and then lying to clients about it, Deutsche Bank, Credit Suisse and Royal Bank of Canada, among others, withdrew from the Barclays LX dark pool.   View page

June 26

London Stock Exchange

London Stock Exchange Group said it has agreed to buy Frank Russell Co., the owner of Russell Investments, for $2.7 billion. The purchase would represent LSE’s largest acquisition since it bought the remaining 50% stake in FTSE International and would make LSE one of the world’s biggest providers of index services. View page

June 25

S&P Dow Jones Indices

S&P Dow Jones Indices provides licensing of benchmark indices including the popular S&P 500 and Dow Jones Industrial Average. The firm is jointly owned by CME Group (27 percent) and McGraw-Hill (73 percent).  On June 24, 2014, Bloomberg reported that S&P Dow Jones Indices is considering a bid for Barclays Bank’s index division, which includes its flagship U.S. Aggregate Bond Index. View page

June 24

Mark Rubin

Mark Rubin, former NFL player and current assistant vice president of futures and options sales trading for Barclays Bank plc, was crowned as Wall Street‘s best all-around athlete for the third year in a row. Rubin participated in the RBC Decathlon, a charity event that raises money for cancer research. He won this year’s event by less than one second. View page

June 23

ULLINK

ULLINK, a global provider of connectivity and trading software, has signed an agreement with the IntercontinentalExchange to acquire NYFIX and Metabit, both units of NYSE Technologies. The transaction is expected to close in the third quarter of 2014. View page

June 20

Mexican Stock Exchange

Yesterday, the Mexican Stock Exchange, also known as Bolsa Mexicana de Valores (BMV) said it would connect to stock exchanges in Chile, Colombia and Peru by the end of the year through the Latin American Integrated Market, (MILA). The move will nearly double the size of that entity. New securities legislation at the beginning of the year paved the way for BMV to join the exchanges that make up MILA. [ View page]

June 19

Janet L. Yellen

After her press conference on June 18, 2014, Federal Reserve Chair Janet Yellen announced the decision to continue reducing the pace of bond purchases in order to keep long-term borrowing costs low. The Fed plans to cut purchases by $10 billion, totaling to $35 billion. Yellen also stated that the Fed may make further reductions and that it expects interest rates to stay low after the buying ends. View page

June 18

Maker-taker

Maker-taker is an exchange or trading platform pricing system. Its basic structure gives a transaction rebate to market makers providing liquidity (the makers); and charges a transaction fee to customers who take liquidity out of the market (the takers). In a June 17, 2014 hearing of the Senate Permanent Subcommittee on Investigations, NYSE president Thomas Farley said the exchange is “seeking support for the elimination of maker-taker.” At the same hearing, Vanguard‘s Joseph Brennan also called for a “revisit” of maker-taker. View page

Full list »