Nasdaq has launched a new testing platform to help exchanges, clearing houses and central securities depositories conduct quality assurance and speed the time to market of new tools. The platform, called Nasdaq Validator, is an API-independent testing platform offering both manual and automated test tools for the capital markets industry.
Electronic bond trading platform OpenBondX (OBX) is looking attract liquidity to its newly launched market using an equity market technique: incentive-based pricing. In what it calls a twist of the maker-taker rebate pricing model used in the equity markets, OBX will incentivize initiators of order flow with rebates that are built into the trade's settlement.
CME Group announced Wednesday that it will close its New York trading floor by the end of the year as open outcry trading volumes have continued to decline. All options products traded on the New York floor will be available for trading on CME Globex, the company's electronic trading platform.
Along with their investments, the three firms are scoping and beginning trials of the technology for use on their own trading desks.
BNP Paribas Securities Services is partnering with French equity crowdfunding platform SmartAngels to develop a blockchain-based share register to allow private companies to issue securities. The platform, expected to launch in the second half of the year, will also allow investors to access a secondary market for trading shares.
Bats Global Markets announced the launch of its initial public offering Monday, with a price per share expected to be between $17 and $19. The offering, which could value the company as high as $1.8 billion, comes as the U.S. IPO market has seen its slowest start in seven years.
Citi is looking at trading data in a whole new way with a prototype of a virtual reality application that enables traders to build holograms of graphical data. The prototype application was built by virtual reality design firm 8ninths using Microsoft's HoloLens platform.
LiquidX, the startup e-trading platform for trade finance instruments, received a boost of support this week when it was announced that Broadridge Financial Solutions invested in the platform as a strategic partner. What will start as a marketing alliance is expected to eventually include product integration and collaboration on expansion into other illiquid asset classes, the two companies say.
Trading turrets have been around for decades, but a group of former turret industry executives thinks the model is ready for an overhaul.
CME Group has agreed to sell its suburban Chicago data center in Aurora, Illinois, to global data center provider CyrusOne. Under the terms of the deal, CyrusOne will pay $130 million for the data center, and CME Group will sign a 15-year lease to continue operations from that facility.