Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


01:48 PM
Connect Directly

SIA SHOW: Electronic-Trading Notes

ITG Hong Kong Ltd. launches an Asian version of Posit -- ITG's flagship electronic stock crossing network; The New York Mercantile Exchange starts trading emiNY crude oil and natural gas contracts on June 17; OneChicago launched a new Web site.

* ITG Hong Kong Ltd., a subsidiary of the New York City-based Investment Technology Group, has launched an Asian version of Posit -- ITG's flagship electronic stock crossing network. Posit Hong Kong will conduct three daily crossing sessions, including a pre-market VWAP (volume weighted average price) match and two intra-day matched at 11 a.m. and 4 p.m. In 2001, ITG matched 9.3 billion shares via Posit in the United States.

* The New York Mercantile Exchange is going to start trading emiNY crude oil and natural gas contracts on June 17. The contracts will be modeled after the Chicago Mercantile Exchange's e-mini products, and will trade on Globex, the CME's electronic trading platform. The New York Mercantile Exchange clearinghouse will provide clearing services for the new contracts.

* OneChicago, a single-stock futures joint venture comprised of the Chicago Board Options Exchange, Chicago Mercantile Exchange and Chicago Board of Trade, has launched a new Web site -- www.onechicago.com -- in partnership with IBM. The site has been designed to facilitate the introduction of security futures to the U.S. financial markets. When trading of security futures begins later this year, OneChicago expects to list futures contracts on more than 80 individual stocks and 15 narrow-based indices.

* The Brut ECN set a company record for daily market share on Friday, May 31, capturing 5.32 percent of the total trading volume of the Nasdaq Stock Market. Brut's previous record of 5.31 percent was set on March 8, 2001.

* Massachusetts-based Meridien Research has welcomed two analysts, Maggie Scarborough and Gene Kim, to their ranks as senior analysts. They will both bring their experiences from previous work in the financial-services industry to the eFinancial services part of Meridien, which focuses on the effects of strategic technologies in the retail and wholesale banking enterprises. Scarborough has worked for over 20 years in the business, including holding the position of senior director of the network products group of the National Automated Clearing House Association. Before he joined Meridien, Kim worked as Vice President of Services and Marketing Development for the Personal Investments Group at Fidelity Investments with over 15 years of experience in his field.

* TheBEAST.com is revamping its look with a new name and a new product. The company, as of June 3 called Beast Financial Systems, has released its Equity Trading System (ETS), a single front end that offers streaming real time applications and interfaces to numerous liquidity pools to enable firms on both sides of the market to fit their customer's desires. The ETS is powered by Beast Framework Technology, which allows market data to come from any liquidity source such as Beast's analytical tools or client's proprietary tools. By offering these services in their product, Beast hopes to meet the demanding level of trade flow while also providing a low cost service for trade firms.

Register for Wall Street & Technology Newsletters
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.