Solutions
Aquis Exchange, the proposed pan-European stock exchange, will allow its members to access its trading platform via the BT Radianz Cloud.
The BT Radianz Cloud — the largest secure networked financial community in the world — helps financial market participants globally to exchange market information, trade with each other and clear and settle transactions.
Under the new agreement, BT will not only be Aquis Exchange’s preferred cloud connectivity supplier, but the exchange’s services will now be accessible to the thousands of members of the BT Radianz Cloud community globally.
In addition, Aquis Exchange members can use
The first interdealer non deliverable forward (NDF) trade has been delivered to LCH.Clearnet’s ForexClear service through the recently established link with Traiana’s Harmony CCP Connect.
The trade was a USD/KRW NDF with HSBC as one of the trading parties.
Andrew Coyne, chief executive, Traiana, says: “We are pleased to announce that trades are being successfully matched on CCP Connect and delivered to LCH.Clearnet for clearing. Traiana built direct connectivity to LCH.Clearnet’s ForexClear at the specific request of our client base, so we’re very excited at how quickly the service has been adopted.”
Jacqueline Liau, global head of product
The European Energy Exchange (EEX) continues to migrate its natural gas products onto PEGAS, the common gas trading platform of EEX and Powernext.
Once the migration of the Spot Market products for GASPOOL, NCG and TTF scheduled on 28 August 2013 is complete, the full range of EEX and Powernext products will be tradable on PEGAS.
In addition, a number of location spread contracts will be activated for trading on the Spot Market, comprising of: GASPOOL/NCG, GASPOOL/TTF, NCG/TTF, PEG Nord/TTF and PEG Nord/NCG.
The location spreads between the PEG Sud/PEG Nord areas are already tradable on PEGAS
Torstone Technology has released a new Inferno module that consolidates OTC derivative trades from multiple front office systems and feeds them into Global Trade Repositories (GTRs) such as DTCC, automatically.
The aim is to help financial institutions comply more easily and accurately with the transparency and reduced risk goals of new global regulatory reporting requirements for OTC derivatives evolving from the European Market Infrastructure Regulation (EMIR) and US Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
Torstone has developed the technology based around the open industry standard FpML messages for OTC products. Trades can be fed either
Deutsche Börse is to launch a new block trading service on Xetra MidPoint on 29 July and has named Liquidnet, the global institutional trading network, as the block agent for the new service.
The block trading model provides a platform where more than 240 Xetra members will have the opportunity to trade directly with Liquidnet’s network of more than 700 of the world’s leading asset management firms safely and efficiently with minimal market impact and maximum price improvement.
Xetra MidPoint’s Block Agent model will combine the liquidity of multiple sources, increasing the probability that large orders will be executed
ITG, an independent execution and research broker, has released the new ITG Dynamic Implementation Shortfall Algorithm 2.0 (ITG DIS 2.0), a tool for portfolio traders.
ITG DIS 2.0 builds on the original Dynamic Implementation Shortfall Algorithm, which was created to execute portfolio trades in a coordinated, cost-effective manner.
ITG DIS 2.0 offers enhanced optimisation capabilities that can handle even imbalanced and illiquid portfolio trades. ITG DIS 2.0 incorporates intraday patterns in cost and risk to formulate its trading strategy and dynamically updates its strategy as conditions change over the execution horizon.
“ITG Dynamic Implementation Shortfall Algorithm 2.0 gives
Traiana’s pre-trade clearing certainty initiative continues to gain momentum and has received the support of leading futures commissions merchants (FCMs) and trading venues.
Barclays, BofA Merrill Lynch, Citi, Goldman Sachs, JP Morgan and leading buyside institutions have put their support behind the central risk management infrastructure to be the first clearing firms to use Traiana’s CreditLink service to manage swap clearing limits, with deployments underway to meet regulatory deadlines.
The service is in live production operation and is connected to and supported by twelve potential swap execution facilities (SEFs) and designated contract markets (DCMs), including GFI Group, iSwap, Javelin,
Regulatory scrutiny by the Securities and Exchange Commission and the brutal dogfight for scarce alpha are pushing US hedge funds to implement a more rigorous and formalised trading process, according to a study from TABB Group.
The firm’s eighth annual benchmark study – US Hedge Fund Equity Trading 2013: Better Practices for the Age of Transparency – says that hedge funds are working with their sell side counterparts to bring additional cost-efficiency to an industry that is seeing revenues fall for the fourth straight year. The industry needs head traders to continually act as evangelisers for better practices.
Woodfield Fund Administration, an independent third-party fund administrator, has chosen Smonik RECON to support the portfolio reconciliation needs of its diverse group of investment management clients.
Woodfield’s selection of Smonik RECON comes as investment managers are increasingly broadening their investment strategies across regions and asset classes in pursuit of investment returns. To support more dynamic investment strategies, firms must be able to quickly and easily modify middle- and back-office processes to minimise risk and ensure operational efficiency in the new market environment.
Smonik RECON’s platform design enables Woodfield to quickly onboard new clients providing them with straight-through processing
Tarpon Trading a global macro foreign exchange manager, has launched its currency trading programme on the Horton Point incubation platform.
Tarpon is run by J Stephen Theall, a 20-year veteran of quant FX and global macro trading at such marquee firms as Tudor Investment Corp, Caxton Associates and Millennium Partners. Tarpon has a three-year track record and currently runs over USD50m in institutional managed accounts.
Horton Point is providing acceleration capital, investor relations and operational infrastructure to assist Tarpon with its strategic development.
“Tarpon is a very attractive candidate for our platform,” says Horton Point chief executive
