Goldman Sachs to Give Out ‘Secret Sauce’ on Trading – Wall Street Journal (subscription)
In a major shift for Goldman Sachs, the firm is preparing to give away some of the “secret sauce” behind its trading ideas. Goldman will soon offer clients access to more of its in-house tools, such as high-powered databases that analyse markets and manage risk, according to the firm’s executives.
CME Eliminated 3% of Staff, With Half Coming From Technology – Bloomberg
CME Group eliminated about 3% of its employees, with about half the cuts coming from technology staff. The world’s largest futures exchange dismissed about 80 workers on 6 August.
More FX Platforms Show Volume Declines in July – Profit & Loss
Thomson Reuters, Gain Capital and Saxo Bank are the latest FX trading venues to report decreases in trading activity for the month of July.
M&A Trend Continues in FX with £200 Million Acquisition of Currencies Direct – Profit & Loss
M&A activity is continuing in the FX market with Palamon Capital Partners and Corsair Capital agreeing to buy Currencies Direct, a provider of FX and international payment solutions to private and corporate clients, for over £200 million.
Markit Eyes Next Products for Trade Confirmation Tool – FOW (subscription)
Data vendor Markit plans to expand its recently launched trade confirmation service to non-deliverable forwards, forwards and exotic options next year, as well as new options products later this year.
Moscow Exchange Releases Monthly FX Market Analysis Reports – Inside Market Data (subscription)
The Moscow Exchange has launched a new monthly foreign exchange market report that leverages historical trade and order data to provide algorithmic traders with analysis of trading activity on the exchange’s FX markets.
Data Overload: One of the Many Problems Bloomberg Is Solving – Institutional Investor video (subscription)
Bloomberg’s Shawn Edwards and Vlad Kliatchko discuss the company’s new initiatives, like open-sourcing its software and taking a statistical approach to solving problems.
GMEX Moves to Boost European, US Trading – FOW (subscription)
The chief executive of GMEX said the new exchange is to hire a salesperson in Europe and has applied to start selling to US clients, underlining his plan to expand geographically just days after launch. GMEX launched on Friday with the backing of Bank of America Merrill Lynch, RJ O’Brien and Societe Generale.