Northern Trust to Manage Equity & Bond Trading Westwood Holdings Group, a Dallas, Texas-based investment management boutique and wealth management firm, will be outsourcing portions of its equity and fixed income trading, and middle-office trade settlement support to custodian and service provider Northern Trust, officials say. The firm is using Northern Trust’s services “to optimize… Read More >>
EDI Challenges Termination Clauses of Other Vendors
London-based reference data vendor Exchange Data International (EDI) will be filing a formal complaint with the European Commission to stop an industry practice that requires reference data clients to expunge all their data purchases once they decide to move to another vendor. The bottom-line result of this practice is that many financial services firms are… Read More >>
Exchange Data International to Offer Key Content via QuantHouse
Exchange Data International (EDI) will be offering its securities reference data and end of day pricing through the QuantHouse hub of services accessed via application programming interfaces (APIs), which is intended to help a quant trader’s decision-making, among other operations. The London-based EDI has a content database that covers major markets, particularly emerging and frontier… Read More >>
New Handbook Targets ‘Exponential’ Adoption of LEIs
(The rapid emergence of the Legal Entity Identifier (LEI) after the global financial crisis was heralded as an important step forward for clarity in securities operations. In particular, thorny derivatives and their underlying instruments were supposed to be the initial beneficiaries of burgeoning standard. Its wide acceptance via standards bodies has been followed by efforts… Read More >>
EDI Takes On Exchanges via New Corporate Actions Service
London-based data vendor Exchange Data International (EDI) is launching what its founder calls “a complete replacement service” for the corporate actions data services from NYSE and other major exchanges that will be priced at less than half of the redistribution costs charged by exchanges companies. “EDI has a policy of not kowtowing to egregious exchange… Read More >>
Glitch Halts ETP Trading for NYSE Arca
ETP Transactions Impacted by NYSE Arca Halt Exchange-traded product transactions via NYSE Arca were halted for 15 minutes on the morning of Monday, Dec. 19, because of a complication caused by a software upgrade, according to New York Stock Exchange officials. “We identified an issue on NYSE Arca Equities (our electronic market for ETPs [including… Read More >>
