New for Traders: Finect brings social media to financial services

Technology

  • Finect, a new social media site designed to meet the needs of the financial services industry, recently launched in a public beta. In addition to providing a secure platform for advisors and clients to communicate, Finect automatically backs-up all communications, ensuring everything stays in regulatory compliance. Individuals can create profile pages and then join various groups. Watch for the Futures Magazine Group to be launched soon.
  • The Goldman Sachs Group, Inc. announced the sale of a majority equity interest in REDI, the technology provider for the leading REDIPlus® Execution Management System (EMS), to a consortium of investors including BofA Merrill Lynch, Barclays, BNP Paribas, Citadel and Lightyear Capital.  Goldman Sachs is retaining a significant minority equity stake in the company.
  • Trading Technologies International, Inc. (TT) announced the production release of its MultiBroker trading solution.
  • DB1 will launch Deutsche Borse Cloud Exchange, a trading venue for outsourced storage and computing capacity, “cloud computing”, in the beginning of 2014. DB1 will make possible to standardize and trade fully electronically IT capacity in the same way as securities, energy and commodities.

Financials

  • Singapore Exchange (SGX) proposes to add new Asian Index Futures contracts to provide global customers an extensive coverage into Asia’s key markets. These contracts will complement SGX’s current suite of futures contracts including SGX MSCI Singapore, SGX MSCI Indonesian, SGX MSCI Taiwan, SGX Nikkei 225 (Japan), SGX FTSE China A50 and SGX CNX Nifty (India).
  • Citi has been appointed by Mirae Asset to provide fund administration, custody and index receipt services for a new ETF platform in the US under the Horizons brand. The first ETF, the Horizons S&P 500® Covered Call ETF (“HSPX”) launched on June 24, 2013 and will be followed by a series of sector ETFs.
  • TSE listings will increase to 3,400 companies after Osaka integration on July 16th according to the operator.
  • KCG Holdings, Inc. announced the completion of the previously announced merger whereby Knight Capital Group, Inc. and GETCO Holding Company, LLC have been combined as part of KCG Holdings, Inc., a new publicly traded holding company. The merger, which was announced on December 19, 2012, was approved by the respective stockholders and unit holders of both companies at special meetings held June 25, 2013.

Regulations

  • The Futures and Options Association and the Futures Industry Association announced an agreement in principle to combine their two organizations under one global structure and brand called FIA Global.

Options

  • TradeStation announced new pricing policies designed to give equities and options traders greater flexibility and better value in choosing the commission plan that best suits their trading frequency and style.
  • CME will introduce three wheat options contract on its Kansas City Board of Trade (KCBT) hard red winter wheat futures, starting from July 1, pending regulatory approval. The contracts include an option on KCBT hard red winter wheat versus CBOT soft red winter wheat, another option on KBCT wheat versus Minneapolis Grain Exchange hard red spring wheat, as well as weekly KCBT options.

Commodities

  • The London Metal Exchange (LME) launched a consultation on a proposal designed to cut warehouse queues, and encourages responses from all interested parties. The proposal presented to the market today suggests a way to both cut existing queues and prevent new queues from forming.
  • LSE aims to expand its commodity futures range by adding milling-wheat futures, among others. LSE spokesman Tom Gilbert stated that “I wouldn’t go so far as plans, it’s a consideration at this moment”, according to Bloomberg.

Forex

  • Continuum and CQG, Inc. announced the addition of foreign exchange trade execution to its services through integration with KCG Hotspot, the award-winning electronic communication network (ECN) for the institutional foreign exchange market. The connection is powered by Continuum’s new Access Direct API family.
  • TMX Atrium announced that it has upgraded its connectivity to Knight Hotspot FX, in response to client demand.
Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome