Pragma, an independent, multi-asset class algorithmic trading technology provider, has enhanced its deep-learning enabled execution algorithms to intelligently trade Canadian and US interlisted equities. Pragma launched Mercury, its deep neural network-based execution engine, in 2021 after a multi-year research and development effort, and a year of controlled production trading trials with its clients. Mercury’s deep neural network microtrading engine controls the routing, sizing, pricing and timing of orders, and has shown a robust improvement in execution quality, with an average shortfall improvement ranging from 33% to 50% across billions of traded shares.   Support for Canadian and interlisted equity trading

EDX Markets (EDXM), a digital asset exchange backed by leading financial institutions, and Paxos, the regulated blockchain infrastructure platform, have formed a partnership that will enable institutional custody of traded assets for EDXM clients, and provide Paxos customers with direct access to this new state-of-the-art ecosystem.  With Paxos’ support, EDXM will offer the most trusted, efficient and liquid cryptocurrency exchange on the market. Paxos’ enterprise platform will facilitate the custody and wallet infrastructure of digital assets for sophisticated financial institutions and investors seeking the most efficient and compliant trading venue in cryptocurrency markets. Leveraging Paxos’ blockchain technology and regulatory expertise,

Overbond, an API-based credit trading automation and execution service in the global capital markets, has integrated an AI-powered margin optimisation function into its existing automated trading system. Traders can now train Overbond’s automated system to optimise their hit ratio according to the desired trading parameters of the desk. This increases the number of trade inquiries that traders can respond to without trader intervention. Overbond has achieved an advanced step forward in fixed income trading by fully automating the margin-optimisation function within the Overbond automated trading system and data streams via API.   The Overbond margin optimisation model optimises the distance-to-cover based

Global network and Infrastructure-as-a-Service pioneer TNS has partnered with Blue Ocean Technologies (BOT), owner and operator of the Blue Ocean ATS, a global alternative trading system (ATS) that operates from 8:00PM EDT to 4:00AM EDT. Blue Ocean ATS will leverage TNS’ robust network backbone and dark fibre to accommodate its increasing traffic, automated connectivity, and rapid global growth. Last October, Blue Ocean Technologies implemented its vision within the capital markets industry with the launch of the Blue Ocean ATS, one of the first platforms to provide real-time access and US stock trading capabilities to investors who want to trade outside

Hedge fund Two Sigma’s systematic liquidity provider and trading business, Two Sigma Securities, has joined the Chainlink network as part of its effort to bring its high-quality market data to the blockchain ecosystem.  Two Sigma Securities is contributing its high-quality proprietary data to Chainlink decentralised oracle networks (DONs) to generate tamper-resistant oracle reports. Two Sigma Securities is contributing its high-quality proprietary data to Chainlink decentralised oracle networks. Developers in the Web3 ecosystem are now able to access Two Sigma Securities’ premium market data to support a wide range of smart contract use cases that rely on an aggregation of data

Swiss-based financial data expert SIX has made municipal bond pricing generated by global electronic marketplace operator Tradeweb (Tradeweb Municipal Ai-Price) available to clients. SIX will now provide US municipal bond pricing which leverages Tradeweb’s proprietary machine learning and data science models combined with proprietary data from Tradeweb’s electronic marketplace. Despite the elevated volatility in the US rates market, fewer than 3% tax-free fixed coupon US municipal bonds trade on a daily basis, impacting price discovery and transparency of these bonds. Tradeweb Municipal Ai-Price addresses this problem through a combination of proprietary data, machine learning and other advanced data science methods,

Overbond, an API-based credit trading automation and execution service in the global capital markets, has entered into a data sharing and redistribution agreement with MTS BondsPro, a platform that offers access to liquidity and real-time execution on an anonymous, all-to-all order book.  Overbond will integrate certain MTS BondsPro fixed income price data to enhance the coverage and precision of its AI-generated fixed income data feeds and automated trading solutions, and MTS BondsPro clients will gain access to Overbond’s fixed income prices and liquidity-confidence scores.   Through its partnership with MTS BondsPro, Overbond AI will be able to integrate an additional

Following a tumultuous week for the UK foreign exchange (FX) market in the wake of the Government’s mini budget announcement, London-based FX company Lumon, which specialises in international payments and foreign exchange risk management for private and corporate clients, is reporting a 30% increase in clients ‘forward buying’ currency.  This involves utilising long-term contracts that lock currency conversions away at today’s rate for payments in the future.   The rapid future-proofing pursued by both private and corporate clients comes after the British pound plummeted to record low levels earlier this week as a direct response to the planned tax cuts

Tradeweb Markets, a global operator of electronic marketplaces for rates, credit, equities and money markets, has partnered with S&P Global Market Intelligence to introduce electronic connectivity between primary and secondary markets.  The product scope currently includes European credit, covered, sovereign, supranational and agency (SSA) bonds.  Tradeweb’s integration of InvestorAccess, S&P Global Market Intelligence’s digital primary market platform, enables Tradeweb clients to electronically access new deals and manage orders in the primary market via the Tradeweb platform.    InvestorAccess addresses a number of challenges inherent to the issuance of new deals by automating what traditionally were manual processes for accessing deal