Solutions
SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P. Morgan and BNP Paribas, had record trading volumes in January and compound growth following its migration to NYSE Euronext’s Universal Trading Platform on 23 November 2009.
SmartPool’s matched volume of EUR310m in January represents compound growth of 33 per cent since the end of November, making SmartPool one of the fastest-growing dark multilateral trading facilities over the period.
The number of trades also increased by 51 per cent compound to over 47,000 in January.
According to the Thomson Reuters Equity Market Share Service, SmartPool reported
Backstop Solutions Group, a provider of software-as-a-service platforms for the alternative asset management industry, has opened its Asia Pacific office in Hong Kong.
The new office will better position Backstop Solutions to serve its Asia Pacific customer base in a marketplace where SaaS applications are in high demand.
The Asia Pacific office will initially cater to the Hong Kong, Singapore, and Japanese markets with the long-term goal of expanding to other markets in the region.
“The alternative asset management industry is healthy and growing throughout Asia. We believe the region presents an extraordinary opportunity for our business,” says Jeremie Bacon,
In January 2010, the international derivatives exchanges of Eurex Group recorded an average daily volume of 10.8 million contracts, up from 10.5 million in January 2009.
Of those 7.0 million were Eurex contracts and 3.75 million contracts were at the US-based International Securities Exchange.
In total, 140.0 million contracts were traded at Eurex and 71.2 million at the ISE.
Eurex achieved 63.4 million contracts in its equity index segment – the largest product segment, compared with 70.2 million contracts the year before. Futures on the DJ Euro Stoxx 50 Index stood at 26.6 million contracts and 23.5 million on the
Eurex Repo and Clearstream have launched a new currency segment within the GC Pooling market, Eurex Repo’s secured money market.
This new segment – USD GC Pooling – comprises US dollar cash trading and extends the secured funding possibilities for the current 35 market participants already active in this market by introducing a second global currency.
Marcel Naas, managing director of Eurex Repo, says: “With our new USD GC Pooling segment, we broaden our market from a dedicated euro environment to a multicurrency environment. As in our existing Euro GC Pooling segment, we provide access to secured US dollar
Paddock Fund Administration has gone live with IGEFI Group’s MultiFonds fund accounting platform.
Paddock specialises in fund administration, transfer agency, client communication and domiciliation.
It acts as an independent partner with PSF status, servicing international clients as central administrator for investment funds with a focus on specialised investment funds domiciled in Luxemburg.
IGEFI Group is a provider of software solutions for international fund distributors, third party investment fund service providers, and fund managers.
IGEFI’s core platform, MultiFonds, helps companies in the investment fund industry to grow their business while improving client service levels and efficiency. MultiFonds is operational in more
Newedge Group, with its membership in LCH.Clearnet, has become a general clearing member for Nodal Exchange, the first exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the North American electric power markets.
Nodal Exchange launched on 8 April 2009 with LCH.Clearnet as its central counterparty clearing house.
Newedge Group becomes the seventh GCM to support trading on Nodal Exchange.
Robert Vujtech, global head of energy for Newedge, says: “We are very client focused and keen to offer opportunities adding value to our clients. We have received significant interest in Nodal Exchange and are delighted
Fidessa group, a provider of trading, portfolio analysis, compliance, market data and connectivity solutions for the buy-side and sell-side, is now ready with Koscom’s PowerBase NFS, the new high-speed interface to the Korean exchange.
The Fidessa NFS gateway provides high-speed market access and is attractive to high-frequency or algorithmic traders, enabling them to take advantage of the 98 per cent reduction in order processing time and around 200 per cent increase in throughput.
David Jenkins, business solutions manager for Fidessa in Asia Pacific, says: “This development will open up new opportunities on the Korean exchange for all traders, but
Tora, a provider of trading technology and financial services, and ConvergEx, a provider of investment and execution technology solutions, have agreed to integrate Tora’s Asia-focused trading platform, Tora Compass, with ConvergEx’s order management system, the Eze OMS.
Under the agreement, clients of Tora Compass can keep their orders in synch with the Eze OMS, while benefitting from real-time profit and loss and risk management in both systems.
In addition, Eze OMS clients will gain access to new, expanded Asia-specific trading features and broker connectivity through Tora Compass.
“We are delighted to be working with ConvergEx to bring this new level
The Commodity Futures Trading Commission has issued an order granting ICE Clear Europe registration as a derivatives clearing organisation pursuant to Section 5b(b) of the Commodity Exchange Act.
ICE Clear Europe is a private limited company organised under the laws of England and Wales.
Pursuant to an order that the commission issued on 23 July, ICE Clear Europe has operated within the US as a multilateral clearing organisation.
ICE Clear Europe clears energy-based contracts and credit default swap contracts on European reference entities.
As a registered DCO, ICE Clear Europe is authorised to clear futures contracts, options on futures contracts,
The joint venture between CLS Group and Traiana, an Icap company, to provide trade aggregation services to participants active in the over-the-counter FX market has gone live.
The service, known as CLSAS, aims to reduce operational risk, lower post trade costs and rationalise and consolidate legacy post-trade processes throughout the global FX markets.
Only aggregated trades will need to be processed and settled in CLS, providing settlement risk elimination whilst alleviating the processing burdens on participating banks by 90 per cent or more.
Operating within the CLS regulatory framework, the supporting technology for the system is provided by Traiana Harmony.
