Exchange technology
Terry Duffy on CME’s cloud future, takeover targets, and ... candy
CME CEO Terry Duffy explains the relatively narrow strategy that the derivatives exchange has taken under his leadership, especially compared to its peers.
As NYSE moves toward overnight trading, can one ATS keep its lead?
An innovative approach to market data has helped Blue Ocean ATS become a back-end success story. But now it must contend with industry giants angling to take a piece of its pie.
New equity trading protocols want traders to show their hand
A new generation of trading venues has emerged with the goal of unlocking liquidity and improving the efficiency of trades.
JSE rolls out exchange data to cloud Marketplace, built with DataBP
The move—part of a broader cloud migration at the exchange—allows financial firms to connect and subscribe to JSE news, market data, and analytics via the cloud.
Where have all the exchange platform providers gone?
The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this…
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
After contentious Opra upgrades, vendors brace for a faster future
Upgrades to the datafeed widely used to gauge the current market price for options contracts went into effect in February after three separate delays, which market participants say were caused by persistent bandwidth issues at some important recipients.
Dark horse: Deutsche Börse building dark pool
New functionality allowing exchange members to execute sweep trades comes hot on the heels of European rival Euronext launching its own dark pool.
Waters Wrap: Examining ASX’s CHESS do-over
The Australian exchange was the first exchange to be all-in on DLT—and the project failed. Anthony speaks with ASX’s Tim Whiteley to discuss the lessons learned and why he thinks the second attempt will succeed.
Industry unsure of SEC’s new short-selling transparency rule
Does the SEC’s recent 10C-1a rule provide sufficient transparency while protecting traders’ short-sale positions from a GameStop-style backlash? The data will be key.
Deutsche Börse to merge SimCorp and Axioma, shuttering Qontigo
The German exchange also plans to have 70% of its ‘IT state’ in the cloud by 2026.
Has cloud cracked the multicast ‘holy grail’ for exchanges?
An examination of how exchanges—already migrating to the cloud—are working to solve the problem of multicasting in a new environment.
Waters Wrap: ICE, Nasdaq and differing views about cloud
As exchanges continue to embrace cloud, the decisions they make today will have long-lasting implications.
SGX’s new FX platform sees increased NDF trading from US firms
Sef exemption opens door to increased US buy-side interest
Nasdaq moves second matching engine to AWS cloud
The exchange and its cloud partner are encouraged by the smooth migration so far—and also by capacity and latency improvements from running in the cloud.
How exchanges are becoming more than just marketplaces
Wei-Shen examines how exchanges are branching out and pursuing new ventures that could bring them fresh revenue streams.
ICE: LLMs drove 60% increase in ICE Chat trades
The exchange revealed it has been working with LLMs for a decade to drive automation around its messaging platform. Now, it’s looking for more uses across all asset classes.
LSEG to step up AI and Fabric development, preps Eikon sunset
With Acadia integration now complete, exchange group signals next steps in its Microsoft tie-up and announces launch of new FX matching platform later this year
CME-Google cloud partnership already yielding new data analytics
CME is spending a small fortune to migrate its technology to Google’s cloud, betting on the cloud’s ability to return a large fortune from development of new data products and services.
Nasdaq’s Friedman hints at plans for Adenza post-acquisition
During Nasdaq’s earnings call, Adena Friedman explained to skeptical investors why the deal makes sense for the exchange operator.
LSEG, Symphony vie to build a ‘LinkedIn’ for capital markets
Six months on from its Microsoft tie-up, LSEG is optimistic about creating a trusted directory for the financial services industry. But it has competition.