Solutions
BATS Global Markets’ pan-European trade reporting service, BXTR, became the industry leader in its first month of operation, while BATS Chi-X Europe remained Europe’s largest stock market in November.
BATS also continues progress towards approval and closing of the merger with Direct Edge Holdings, with completion of the transaction now expected in the first quarter of 2014. The company received clearance from the US Department of Justice in late October and its primary focus now is on receiving approval from the Securities and Exchange Commission.
“November marked another month of tremendous growth for Europe as the team continues to
Advent Software has made enhancements to several key products that provide new functionality for more than 1,000 asset and wealth management firms, hedge funds, and family offices.
The updated products include Geneva, Advent Portfolio Exchange (APX), Moxy, Advent Rules Manager, and Advent Revenue Center.
The new product releases provide a number of enhancements and key benefits to users, including:
For Geneva –
• More functionality for closed-end fund and private equity fund investments
• Improved capabilities helping clients to address regulations including FATCA and AIFMD
For APX, Moxy and the associated products –
• Enhancements
November trading volumes for options contracts on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures Exchange (CFE) totalled 91.90 million contracts.
Average daily volume (ADV) was nearly 4.60 million contracts, a six per cent increase from November 2012 and a 16 per cent decrease from October 2013.
Year to date, CBOE Holdings ADV rose three per cent from the same period a year ago.
CBOE's November ADV was 4.18 million contracts, a five per cent increase from November 2012 and a 16 per cent decrease from October 2013.
Equity
Derivatives trading and clearing activities grew in November from a year earlier while securities trading declined, according to Singapore Exchange (SGX).
The derivatives market also had a record-high open interest.
The value of securities traded was USD19.5bn, down 30 per cent from USD27.8bn last year. The daily average value of securities traded declined to USD927m from USD1.3bn.
A total of 57 bonds raising USD11.3bn were listed. The biggest debt listed was Singapore Housing Development Board’s USD1.5bn fixed rate notes due 2017.
There were three new IPOs in November raising USD2.7bn.
Derivatives volume rose 23 per cent
Eze Software Group has launched a new version of the Tradar PMS, its portfolio management system for buy-side institutions.
Version 5.1 provides enhanced operational workflow and new performance reporting capabilities, offering additional insight into the drivers of investment returns and further increasing transparency for investors.
Tradar PMS 5.1 delivers an advanced feature set that enables faster, more integrated, communication across the client’s organisation. Enhancements include flexible management of contracts and open tax lots, automated email notification of system alerts based on user permissions, and a new tool allowing users to send out ad-hoc system-related message alerts and reports directly
Citicom Solutions has partnered with Doran Jones, a full-service financial services consultancy, to sell Citicom Assure, a product designed to provide proactive, real-time analysis of data, including instant messages (IMs), emails, text messages and mobile- and fixed-voice recordings.
The partnership will provide a go-to-market outlet for Citicom Assure in the US through Doran Jones’ established relationships with several tier-one banks, hedge funds and other global financial institutions.
Financial institutions are now seeking the most robust solutions available to ensure they are fully compliant with Dodd-Frank voice and data recording regulations, and this partnership will assist them in creating transparency and
Object Trading, a provider of global direct market access (DMA), is adding support for NYSE Technologies’ Middleware Agnostic Messaging API (OpenMAMA) to its FrontRunner DMA suite.
By adding support for OpenMAMA, Object Trading will enable access to worldwide market data via the FrontRunner DMA suite with a seamless, single integration into existing OpenMAMA environments.
OpenMAMA is a high-performance open source Middleware Agnostic Messaging API, developed by NYSE Technologies with the goal of easing the integration of new messaging applications and future-proofing trading infrastructure against growing market data message rates.
Object Trading’s FrontRunner DMA suite reduces the complexities of
Korea Securities Depository (KSD) and Clearstream are supporting cross-border investment fund distribution by linking KSD’s FundNet and Clearstream’s global funds processing platform Vestima.
KSD and Clearstream agreed to implement the system linkage in 2014 and start offering extended services to support cross-border fund distribution (direct and indirect distribution).
O Moon, Kwon, senior managing director, KSD, says: “The partnership with Clearstream will significantly enhance our cross-border investment fund distribution capabilities. In response to the diverse investment needs of customers we decided to establish a link with Vestima, the largest global fund processing platform which covers more than 120,000 investment funds.
The international derivatives markets of Eurex Group recorded an average daily volume of 7.4 million contracts in November 2013, compared with 7.5 million in November 2012.
Of those, 4.9 million were Eurex Exchange contracts (November 2012: 5.0 million) and 2.6 million contracts (November 2012: 2.5 million) were traded at the US-based International Securities Exchange (ISE).
In total, 103.4 million contracts were traded at Eurex Exchange and 51.2 million at ISE.
At Eurex Exchange, the equity index derivatives segment totalled 43.0 million contracts (November 2012: 49.3 million). The future on the EURO STOXX 50 Index recorded 16.3 million contracts.
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
Both parties signed a memorandum of understanding (MOU) on 2 December 2013 in Shenzhen, China. This MOU will jointly explore areas of cooperation which include information sharing, training and regular meetings on developments in each other’s markets.
“The CFA has been committed to establishing a platform for members to communicate with overseas exchanges. As a long-time partner of Chinese futures industry, SGX has extensive and proven experience in developing new futures products and OTC derivatives market, which is
