Lehman algorithms rise from the grave

The electronic trading system used by the failed investment bank Lehman Brothers has been brought back from the dark side and revived thanks to Nomura. The direct market access (DMA) and algorithms system is known as ModelEx and the platform connects to equity markets in Japan, Hong Kong, Singapore and Australia. Nomura expects to launch the service in India, Taiwan and Korea by April 2009. Lehman had already introduced its algorithms service to India last summer, and at about the s…