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Automated Trader Update: LSE buys into GATElab, ICE and IndexIQ get physical

First Published 13th February 2013

NYBX to close, LSE buys GATELab stake, ISE & IndexIQ partner, Ullink connects to Squawker, SungGard launches intraday data service, MarkitSERV and Misys partner, FX Concepts selects MarketFactory's FX Aggregator, Swedbank deploys Bloomberg PolarLake. Appointments announced at Otkritie, Panopticon, Numerix & BNP Paribas.

The conference season gets into full swing. Automated Trader will be reporting this week from World Exchange Congress, High Frequency Trading World and European Market Liquidity Conference. All three events are taking place in London.

Industry developments

NYSE Euronext and BIDS Trading announced the February 28th closure of electronic block trading venue NYBX, citing lack of demand.

London Stock Exchange Group purchased a 67% stake in GATElab, a technology supplier for trading and post-trade services.

US options exchange ISE and asset management firm IndexIQ announced a partnership to promote new exchange-traded products focusing on physical commodities.

Taiwanese futures exchange TAIFEX and Eurex agreed a strategic alliance to trade and clear derivatives, enabling extended access for clients between Taiwan, the US and Europe.

Products and services

BofA Merrill Lynch enhanced its alternative trading system Instinct X, with block trading system Instinct Natural providing one pipe for all equity order flow. ULLINK completed connectivity to Squawker enabling UL TRADER users to route block orders, IOIs and advertised trades direct from their trade blotters to Squawker.

SunGard aims to improve price discovery, trading decisions and compliance with the launch of a global intraday data service via its Astec Analytics solution.

MarkitSERV and Misys partnered to provide Misys CMS customers with a regulation-ready FX clearing workflow solution; and FX Concepts selected MarketFactory's FX Aggregator for automated currency market data and execution activity.

Swedish bank Swedbank deployed Bloomberg PolarLake managed service model for enterprise data management.

Execution and research broker ITG announced the release of the new ITG Dynamic Close Algorithm.

StreamBase launched its ISV accelerator program designed to enable the addition of CEP capabilities to existing applications.

SIX Financial Information established a new Frankfurt-based Evaluated Pricing business to extend coverage of European assets.

People in the news

Otkritie Capital appointed former Moscow Exchange head Sergey Sinkevich to develop its Direct Market Access service. Former QlikTech Director Nadeem Chowdhry joined Panopticon as SVP; Numerix announced promotions to its executive leadership team; and BNP Paribas made appointments to its London fixed income business.