Northern Trust is offering a new trade execution analysis service to its institutional clients. The automated trade execution monitoring tool aims to allow institutional clients to identify and analyse the drivers behind fund trading costs commissions, trade execution, and local
FlexTrade Systems says New York based Rosenblatt Securities went live in October on FlexTRADER. The firm is also using FlexTRADER over Linux. FlexTRADER is an equity trading and order management system used by both buy side and sell side firms,
Penson Worldwide, a provider of clearing, custody, and settlement services to broker dealers in North America and western Europe, has appointed Chris Gregory as Director of Execution Services. Based in Penson Worldwide's Finsbury Square offices, Gregory will be responsible for
The Osaka Securities Exchange (OSE) is talking to the Japan Securities Dealers Association (JSDA) about melding its Hercules trading platform (formerly NASDAQ Japan) with the JASDAQ OTC market to create a heavyweight challenger to the Tokyo Stock Exchange (TSE). Although
A former Security Trust Company executive yesterday pleaded guilty to having disguised illegal trades for hedge fund clients, according to New York Attorney General Eliot Spitzer's office. Nicole McDermott, formerly senior vice president of the Phoenix based company, faces a
FutureTrade Technologies and Radianz have reached an agreement that enables FutureTrade to use RadianzNet, for connectivity to electronic communications networks (ECNs) and to its clients. FutureTrade's trading tools aim to help institutional and hedge fund users to react more quickly
Callum McCarthy, Chairman of the UK regulator, the Financial Services Authority (FSA) has called in the Chief Executives of 25 of the largest mutual fund companies in the UK and told them that will hold them personally liable if evidence
Four major US public pension funds have told the parent company of beleaguered mutual fund group Putnam Investments that they will nominate their own candidate for the company's board, in line with the post Enron rule proposed by the Securities
The first full month of trading on SETSmm, the London Stock Exchange's new hybrid trading service, was completed in November. The average number of trades per day was 9,841, up 65 per cent on an average of 5,978 trades per
The third largest US pension fund, California giant Calstrs, has fired Putnam Investments as money manager. The decision by the California State Teachers' Retirement System comes after its sister fund, the California Public Employees' Retirement System, voted last month to