Bernstein, the research and execution services arm of AllianceBernstein (AB), is launching a pairs trading application for its customers to automate the process of selecting the right parameters for pairs trading strategies. The company is making the application available to its clients who use Bloomberg's Execution Management System through the Bloomberg App Portal.
Foreign exchange and fixed income trading business EBS BrokerTec has expanded its reach to asset managers with the acquisition of Molten Markets, a foreign exchange technology provider for asset managers and pension funds.
Societe Generale Securities Services is launching a new dealing desk outsourcing service for asset and investment managers. Called I-DEAL, the service covers the entire range of asset classes and global markets. It is intended to help managers optimize and simplify their trade executions in an increasingly complex and competitive environment.
Northern Trust is launching a customizable, standalone foreign exchange trading platform for investment managers, called CompleteFXTM. The bank said the platform combines the operational efficiency of its Global Fund Services infrastructure with market and execution expertise from its Global Foreign Exchange group.
Chicago-based global derivatives market operator CME Group announced it has signed a cooperation agreement with China Foreign Exchange Trade Systems, the major trading center and pricing platform for China's RMB currency and related products. Through the agreement, CME and CFETS agreed to promote each other's market infrastructure and products and explore joint opportunities.
Bank of America Merrill Lynch is expanding availability of CashPro Invest, its online investment management and investment order entry tool for money market mutual funds, into Europe. Adapting the tool for Europe involved enabling clients to enter investment orders for money market funds across currencies.
London Stock Exchange Group's plans to sell Russell Investments to Citic Securities Co., China's biggest listed broker, could be derailed by recent turbulence in the Chinese stock market and...
China and the UK will soon begin a feasibility study to explore the possibility of creating a link between the Shanghai and London stock exchanges, the UK's Chancellor of the Exchequer George Osborne said during a speech at the Shanghai Stock Exchange on Tuesday morning.
Nine global investment banks have banded together to back R3, a startup working to develop protocols to deliver enterprise-scale distributed ledger technology for the financial industry. The company says it expects more large banks to back the effort in coming weeks.
Technology and operations teams involved in back-office transaction processing are expected to be hard hit with staff cuts as Deutsche Bank is reportedly planning to cut 23,000 employees, representing one quarter of its workforce.