Solutions
Weeden Prime Services, a prime brokerage service provider for hedge funds and family offices, has expanded its operations to include an outsourced trading services desk.
Joining Weeden Prime are industry veterans Patrick Connors, Dan Lilly and Eric Savitz.
Connors and Lilly are pioneers in the outsourced trading industry, founding Greenwich Prime Trading as managing members in 2001.
Savitz joined Greenwich Prime Trading the following year in June 2002 following in his father’s footsteps. His father, Barry Savitz, is considered the founder of outsourced trading and established the first outsourced desk at Furman Selz in 1993.
“Our 20
BKCM has launched a Productive Asset Record (PAR) System, which is designed to efficiently create, manage and administer capital pools by combining the strengths of public and private ledgers using blockchain technology.
PAR System will use cryptocurrency tools to connect traditional and cryptocurrency financial systems.
The connection to the traditional financial system will allow the PAR System to be used by virtually any capital pool from hedge funds to charitable organisations to social lending organisations.
BKCM founder and CEO Brian Kelly (pictured) says: "In addition to leveraging blockchain technology to enable better, faster and cheaper capital formation, the
Vela Trading Technologies’ fully managed low-latency market data platform is now live at TMX, Canada’s largest integrated multi-asset class exchange group.
Vela’s managed services platform has enabled TMX to launch new services for the protected markets to comply with Canadian regulatory requirements.
Vela’s platform powers the TMX Information Processor (TMX IP), ensuring clients receive high quality and reliable, real-time market data. TMX will also leverage Vela’s distribution component to publish data into the STAMP format that is used in other products.
The TMX IP provides a central source of consolidated Canadian equity market data that meets standards approved
The Exchange Council of the European Energy Exchange (EEX) has approved an adjustment of the cap of the EEX Cap Future contract, as well as the launch of the Floor Future.
It has also approved other decisions regarding Straight-Through Processing (STP) for Spot Markets and the introduction of additional maturities in Power Options.
The Exchange Council discussed the reasoning behind the planned adjustment of the cap of the EEX Cap Future contract. When EEX introduced the contract in September 2014 as a means to hedge against peak prices, the cap was set to include the upper 2 per cent
The pan-European gas trading platform PEGAS and the French natural gas transmission system operator GRTgaz are extending the operating hours of the coupling mechanism between France’s PEG Nord and TRS delivery zones.
From 24 September onwards, the coupling will also be operational on weekends and bank holidays. This development follows the need of market participants and the request of the French regulator Commission de Regulation de l’Energie (CRE).
In July 2011, GRTgaz and Powernext launched the first coupling initiative in the European gas sector in July 2011 with the support of CRE. As part of this cooperation, GRTgaz intervenes
itarle, an independent provider of multi-asset algorithmic trading, Smart Order Routing (SOR) and Transaction Cost Analysis (TCA) services, has made its optimised execution algorithmic strategies available through the multi asset OMS and EMS platform from Celer Technologies.
These algorithms have been built from the ground up using individual market microstructure properties for a fully tailored and adaptive execution service.
At a time when market participants are increasingly adopting algorithmic trading strategies, this partnership sees itarle integrate its services across a multitude of asset classes and product lines.
Paul Lynch (pictured), CEO of itarle, says: “Cultivating new relationships with
The Bank of England has authorised ICE Clear Europe as a central counterparty (CCP) in accordance with the European Market Infrastructure Regulation (EMIR).
In order to be authorised, ICE Clear Europe has demonstrated that the clearing house’s governance, operations, risk management, treasury and banking infrastructure is EMIR compliant.
"ICE Clear Europe is delighted that our clearing operations have been authorised by the Bank of England in line with the requirements of EMIR and we will continue to work closely with our clearing members and their customers as the European clearing mandates come into force over the coming months,” says
All 24 global banks subject to the new over-the-counter (OTC) derivatives margining regulations, which came into effect on 1 September, are now using the AcadiaSoft Hub.
The Hub is the first-ever central margining service for non-cleared OTC derivatives. It automates the end-to-end margining process between participants by calculating margin, reconciling exposures and sensitivities, and agreeing margin on a central, standards-based platform.
Volumes are growing quickly – more than 2 million sensitivities and 150,000 trades were seen on a daily basis within the first two weeks of the new regulations.
Aggregate volumes seen between 9-15 September were 750 live
PEGAS, the pan-European gas trading platform operated by Powernext, is to enable 24/7 trading for its spot spread contracts as of 22 September 2016.
The availability of spread products on a continuous basis completes the range of PEGAS spot contracts.
PEGAS currently offers location spread products between its Belgian, Dutch, French, German, Italian and UK market areas. All spread products will be tradeable 24/7 from then on, with the exception of ZEE/NBP.
A total volume of 15.9 TWh was traded for all spot spread contracts during the first half of 2016, which represents a growth of 11 per
In the first of a five-part series, SEI discusses the impact of five disruptive technologies and how they can be applied to the financial industry. The first of these five trends relates to IBM Watson, and the power of cognitive computing.
Cognitive computing and machine learning capabilities are becoming so great that even Elon Musk has raised concerns.
Speaking recently at Recode’s Code Conference, he said: “I don’t know a lot of people who love the idea of living under a despot,” the inference being that self-awareness super-computers could become a malign force; think creepy-voiced HAL9000 in the seminal movie,
