The Olympics, the World Cup, new trading platforms… It's all happening in Brazil these days. The country's exchange, BM&FBovespa, is going full steam ahead with trading and execution system upgrades while also trying to lower fees and overhaul post trade services. But even as expectations for increased investment remain high, there are plenty of obstacles. International players have to contend with relatively high trading costs and big uncertainties over taxation. Anna Reitman reports on the emerging picture for automated trading.

Hirander Misra, chairman of Forum Trading Solutions and director of a consultancy, takes a look at the prospects for any other exchange challenging the National Stock Exchange of India. Misra, a co-founder and chief operating officer of Chi-X Europe Ltd, knows all about the battle between newcomers and incumbents. Here he offers his perspective on where the rapidly changing Indian exchange landscape could end up.

Recently, many of our client conversations have focused on high-frequency latency arbitrage. The concern: many order routers do not compensate for differences in the distance to the various market venues. Thus, orders to several market venues sent at the "same time" arrive at their destinations at different times. These discrepancies may provide an opportunity for high-frequency algorithms that make markets simultaneously on several exchanges to exploit timing differences by cancelling some orders after the first one is filled.

Recent events at Turquoise, such as its acquisition of derivatives platform EDX, certainly appear to have piqued plenty of buyside interest. In fact, to judge by the number of times its name keeps cropping up in conversations with Automated Trader's readers, you could be forgiven for assuming that rainbows were now monochrome. So we thought we'd better follow up by packing off Automated Trader's Founder, Andy Webb, to talk to Adrian Farnham, CEO of Turquoise.

…and consolidate the compatible. Do we need a consolidated tape? Or would it be enough just to have markets in which a consolidated tape was possible? Bob Giffords draws out the intractable questions.

May 13th, 2013 - Latest articles online: Brain-Powered and Q&A's with Titian and Rebellion. EBS Direct goes live, MTS launches US bond platform, BATS Chi-X gets RIE approval, Jump Trading assembles London trading team, SWIFTRef issues daily updates, OMX launches Genium INET PRM, Euroclear & DTCC sign MOU, MTS & Integral announce appointments, enforcement chief departs SEC.

Apr 29th, 2013 - New dates for the Automated Trader Summit series: Chicago, NY, HK, Singapore, London. Videos from S & P IQ & OneMarketData. CFTC calls for more time on swaps, Wall Street tweet, FXCM withdraws Gain purchase offer, Kepler chooses SunGard's Valdi, Actant customers access BATS market, Broadridge & SmartStream tap SWIFT GETC, Otkritie live with Calypso, NASDAQ OMX NLX appoints board directors.

Apr 26th, 2013 - Market Makers using Actant Quote Trading System can now trade on BATS Options Market

Apr 22nd, 2013 - Former Equiduct CTO David Howson joins BATS Chi-X Europe as chief operating officer

Apr 09th, 2013 - Equity depth data from multiple exchanges to be combined in a single feed