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Tradebook Launches Cross-Asset Benchmark Tool Bloomberg Tradebook has released a new cross-asset tool designed to enable firms to trade one security relative to a set benchmark. In a release issued today, Bloomberg Tradebook claims that this Relative Benchmark Trading (RBT) algorithm will help traders using its PAIR (Pair) platform generate alpha, reduce the costs of trading and better manage risk. It does this, the firm says, by enabling firms to leverage Bloomberg’s data to help them capture gains from the dynamic relative pricing of securities by tracking the performance of other instruments that drive the price of that stock.
Earthport Expands BAML’s Cross Border Payment Service Earthport, which provides a payment network for cross-border payments, says that it is expanding service with Bank of America Merrill Lynch (BAML). The firm says that the service will add numerous new countries and currencies to the bank’s online and file based banking portal, CashPro, further expanding the bank’s international Automated Clearing House (ACH) payment capabilities. As a result of this deal, BAML clients will be able to access cross currency payments in more than 60 countries and nearly 25 currencies, expanding upon the relationship between Earthport and BAML that was first announced in 2013.
Integral Adopts Linedata’s OMS Integral Development Corp has integrated Linedata's Order Management System (OMS) powered by Longview, with Integral’s InvestorFX. “We are pleased to partner with Linedata, which delivers flexible and comprehensive asset management solutions to global institutional and alternative communities,” says Harpal Sandhu, CEO, Integral. “InvestorFX is the smartest trading platform available for investment managers today, and we are proud to offer another high-quality option to access it. All users of Linedata OMS are now able to benefit from a seamless integration with InvestorFX.”
Ticking the Boxes - Efficiently A new software product seeks to help hedge fund managers digitise key aspects of their business eliminating the reliance on spreadsheets, calendar and an increasing paper trail. Colin Lambert takes a look. Although the banks have been in the eye of the compliance storm of recent years, the pressure on all participants in financial markets to better monitor and manage their business has grown inexorably over the same period. Money managers in particular are finding their margins squeezed yet further by the cost of compliance – an often unwanted problem in an already difficult investing environment.
Bloomberg Launches Streaming NDFs Bloomberg has launched executable streaming non-deliverable forwards (NDFs) on FXGO, its global foreign exchange trading platform. Standard Chartered Bank (StanChart) will be the first liquidity provider to participate. Bloomberg says that the new offering will allow the bank to contribute executable pricing across a wide range of Asian and Latin American non-deliverable currencies to meet the needs of its corporate and institutional clients. The solution integrates Bloomberg's FX execution and straight-through processing (STP) tools with StanChart’s liquidity. It’s designed to offer end-to-end workflow for NDF trading to the bank’s clients that wish to execute via the Bloomberg Terminal.
Thomson Reuters Partners with BestX for TCA Solution Thomson Reuters has partnered with BestX to enable buy-side participants using its FXall and FX Trading platforms to streamline analysis of transaction costs, helping them define, achieve and demonstrate best execution. Through the partnership Thomson Reuters will offer connectivity to the independent transaction cost analysis (TCA) service from BestX from its FXall and FX Trading desktops. Thomson Reuters customers will be able to have their trades sent automatically to BestX for independent post-trade transaction cost analysis, and also have a single sign-on desktop integration.
Tech Corner A round up of the latest technology news...
SBI, SmartTrade Extend Deal SmartTrade Technologies and Japanese firm SBI Liquidity Market haves extended their relationship with SBI adding SmartTrade's pricing and distribution models to LiquidityFX, SmartTrade’s platform which is already deployed by SBI Under the deal, SBI adds SmartTrade’s market making solution to the existing implementation of LiquidityFX connectivity, aggregation and order routing.
Calypso to Develop Technology on R3 Platform Calypso Technology has become the first firm to partner with R3 to develop capital markets applications on its Corda distributed ledger-based smart contract platform. The two firms are currently developing a multi-party trade confirmation solution and testing it with multiple financial institutions. R3’s Corda – which will be open-sourced globally on November 30 – is designed to be an open and inclusive smart contract platform that enables third party providers and partners to build and operate distributed ledger applications using common code and protocols to ensure interoperability.
Portware Announces Upgrades to its EMS Portware upgraded its execution management system (EMS), Portware Enterprise. Portware Enterprise is designed as a customisable EMS that acts as a central platform for the creation and execution of trading strategies for global equities, futures, options, fixed income and FX. The firm says that the latest version, Portware Enterprise 6.4, focuses on assisting traders in managing regulatory and administrative burdens, while freeing up their time to concentrate on preserving alpha with “state-of-the-art”, AI-driven tools. The EMS is designed to offer users data warehouse functionality, advanced venue analysis and an enhanced ability to record and analyse growing volumes of execution and Indication of Interest (IOI) data.