October 17, 2005 Issue Abstract


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On the Exchanges: Wall Street’s Backing Gives Regional Exchanges New Relevance as U.S. Market Structure Evolves. Major investment banks dive into the competition among securities marketplaces by backing regional exchanges performing marketplace functions where these banks’ institutional brokerages have delivered just a slim profit.


Industry Alert: Nasdaq Plans to Introduce New Intraday Cross. The Nasdaq Stock Market plans to introduce the Nasdaq intraday cross, a fully-anonymous trade execution facility designed to facilitate the execution of large trades.


Spotlight: Neil T. Henderson, Senior Vice President and Head of Securities Services, JPMorgan Worldwide Securities Services.


Corporate Actions: SWIFT Pushes for Corporate Actions Reporting STP. SWIFT attracted 23 percent more corporate actions transmissions to its ISO 15022 message format in the year since Sibos 2004.


Securities Trading: Algorithmic Trading Advances Outpace Back-Office Support. Algorithmic trading and direct market access improvements for the front office are outpacing operations support development and efficiency improvement in the back offices of securities and investment firms.


Market Data: Demands for Low-Latency Redefine Market Data Scene. Buy- and sell-side firms are searching for more effective ways to receive data suited to the age of electronic trading. The rush to algorithmic trading and electronic market access makes low latency the most important data-feed attribute for a growing number of traders.


Derivatives Trading: Euronext Service Tackles ABCs of OTC Derivatives. Euronext.liffe, the international derivatives arm of Euronext, is set to debut Bclear, an “on-exchange” clearing service for wholesale equity derivatives on October 24.


The News Network:

  • Progress Expands Algorithmic Platform Into FX Market
  • Mellon Buys Out Russell in Analytical Services Platform
  • HSBC Licenses Goldensource Enterprise Data Management
  • Canada Reconsiders Limits on Foreign Holdings
  • Simcorp to Roll Solutionforge FIX.net Into Dimension
  • Freeman Taps Macgregor XIP for Trade Executions
  • Nasdaq Launches Automation-Friendly OrderView Feed

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