Less than two months since BGC Partners won a protracted bidding war to acquire GFI Group, the two firms have begun integrating technology and support functions, BGC reported. The companies also announced plans to sell Trayport, a GFI energy trading technology company that had attracted interest from several other companies.
Tradier Brokerage Inc. announced a partnership with Apex Clearing Corp. this week aimed at creating a full-service API platform that registered investment advisors (RIAs) can use to build their own robo-advisory services on top of. The company says the partnership aims to further democratize the robo-advisory concept so that advisors can create customized robo-advisory platforms for their clients without having to do the heavy lifting of building a core brokerage and clearing platform.
Symphony Communications, the secure, open-source communications platform backed by a consortium of Wall Street firms will partner with Box to add Box's secure content collaboration to its platform. The alliance comes two months after Symphony announced an agreement to add Twitter feeds to the platform to support trading decisions.
Goldman Sachs' $20.5 million investment in high-frequency technology firms Perseus is being viewed as evidence that speed is becoming as essential for traditional firms as it is for the high-frequency trading firms that have made it their hallmark. The investment represents a minority stake in the company, the Wall Street Journal reported.
The European Securities and Markets Authority is calling for evidence from the cryptocurrency industry to support its in-depth study of the potential benefits and risks of virtual currency investment...
The level of publicity surrounding robo-advisory services has led to a pipeline of firms looking for quick ways to build and take proprietary robo-advisory offerings to market, according to one cloud-based platform provider.
UBS is planning to exit automated U.S. options market making as part of an overall strategy of focusing on costs and trimming less profitable parts of the business. The bank has already begun contacting clients and options exchanges this week to inform them of the move, according to the Wall Street Journal, which first reported the news.
BATS Global Markets announced last week plans to launch its second options exchange aiming to compete with markets that have a different trading model from its existing options exchange.
Corporate bond trading platform Bondcube officially launched Tuesday after a soft launch in which it saw daily volumes of $300 million. The electronic marketplace, which is 30 percent owned by Deutsche Borse, joins a crowded field of electronic marketplaces looking to find answers to a market where dynamics have shifted.
BATS Chi-X Europe and ICAP will jointly facilitate anonymous trading of fully cleared equity index EFP transactions. The companies say that when used together, their joint services will reduce counterparty risk for trading of these products.