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Visa, Chain to Launch Blockchain Payments System Visa is partnership with Chain to launch a new business-to-business (B2B) payments platform using blockchain technology. The new platform, Visa B2B Connect, will be built using Chain Core, an enterprise blockchain infrastructure that is designed to facilitate financial transactions on scalable, private blockchain networks. The plan is for Visa to use this technology to develop a near real-time transaction system designed for the exchange of high-value international payments between participating banks on behalf of their corporate clients. The platform will be managed by Visa end-to-end and the firm says it will facilitate a consistent process to manage settlement through Visa’s standard practices.
Pragma Completes Migration to NY5 Pragma has completed the upgrade and migration of its New York trading and connectivity infrastructure to Equinix’s NY5 data centre. The data centre move concludes what Pragma says has been a multi-million-dollar upgrade of its technology infrastructure. Over the last year, it has migrated to a new server and network equipment in a bid to provide its algorithmic trading clients with greater performance, capacity and operational resiliency. David Mechner, CEO, comments: “Pragma provides enterprise outsourced algorithmic trading solutions to banks, brokers and asset managers. Trading institutions operate in a cost-conscious environment, yet competitive forces require them to continually invest in hardware, as well as software and algorithms.
Duco Streamlines Fee Processes for CME Members Duco Technologies will offer its data control and reconciliation services to CME Group members starting January 2017, the two firms announced. The launch follows a six-month trial period with a limited number of futures commission merchants (FCMs). Duco's service is designed to enable CME member firms to simplify processes around fee structures without investing in infrastructure or IT resources. CME chief commercial officer Bryan Durkin comments: "We're pleased to offer our member firms an innovative solution to help streamline their current fee processes. Duco's service will reduce manual work, drive efficiency and ensure accuracy between parties."
CFH Systems to Acquire JV Partner in China CFH Systems, which produces online trading services for financial institutions primarily for FX and CFDs, is set to acquire Capital Market Automation Provider's (CMAP) 49% stake in its organisation. CFH formed the joint venture in November 2015, but now says that it has the infrastructure and local market knowledge to continue developing the company alone. Announcing the launch last year, CFH Systems said it formed the joint venture with CMAP to “accelerate market penetration in China”. At the time, the firm said the partnership offered institutional clients the benefits of CFH’s ClearVision technology, combined with CMAP’s local network infrastructure and specialisation in MT4-hosted services.
Colt Expands North American Footprint Colt is expanding the Colt PrizmNet financial extranet in North America to include a range of US and Canadian financial content providers, FX venues and technology providers, including Hotspot, Nasdaq and Omega ATS. Colt is also expanding its local presence by appointing a new North American head of sales for capital markets, John Faccibene. Meanwhile, Colt veteran, Julie Hutchinson, is also assuming a new role as head of capital markets solutions for North America. Faccibene and Hutchinson will be responsible for growing Colt’s capital markets business in North America by developing existing relationships and adding new clients, as well as further building the Colt PrizmNet community in the region.
Thomson Reuters Launches Faster Matching Data Feed Thomson Reuters Matching is to become the latest platform to increase the frequency of its market data updates. The firm says that in response to client requests for more frequent market data updates of currency pairs on Matching, it will launch a new Matching Binary Multicast Feed. The new feed will increase update frequencies for Matching real-time market data by up to 10 times to 25 milliseconds, improving price discovery and data delivery for clients. The feed will be available in the Equinix LD4 data centre and be in FIX SBE format. Clients will be able to access test data from November 2016 ahead of full production access in Q1 2017.
Oanda Launches New Trading Engine Oanda has unveiled v20, its new proprietary trading engine that the firm is claiming offers an execution speed of 1.3 milliseconds, which it says is four times faster than its legacy trading engine. “Oanda has always had technology and engineering at its core,” says Ed Eger, president and CEO of Oanda. “v20 dramatically improves every aspect of the Oanda experience, reaching a new level of innovation and execution to create the best trading experience we have ever offered our clients.
Fluent Rolls Out EBS Live Ultra Connectivity Fluent Trade Technologies (Fluent) is now supporting the EBS Live Ultra spot FX data feed and is actively connecting EBSBrokerTec clients to the new service. “This is a potential game changer for the way the FX market consumes live data, but firms need to be prepared. “Our focus will be on simplifying connectivity to this important market data feed for our clients, so they can focus on their trading strategies to take advantage of the opportunity EBS Live Ultra presents,” says David Faulkner, head of business development at Fluent.
Is Colin Lambert the Real Satoshi Nakamoto? Is Colin Lambert’s apparent technological illiteracy merely an act to mask his true identity as the genius behind bitcoin? Galen Stops reports. In the latest twist to an ongoing saga, market sources are now suggesting that Profit & Loss managing editor, Colin Lambert, is in fact, Satoshi Nakamoto, the elusive creator of the digital currency, bitcoin. Nakamoto released the first version of the bitcoin software client in 2009, before fading from view and eventually disappearing with the enigmatic message that he or she had “moved onto other things”.
Abide With Icap Icap has acquired Abide Financial, a regulatory reporting specialist with the intention of the company becoming a subsidiary of its Post Trade Risk and Information (PTRI) division, with Collin Coleman, Abide’s CEO, reporting to Jenny Knott, CEO of PTRI. Following the acquisition, Abide will integrate its regulatory reporting hub and venues with Traiana’s connectivity and Icap’s PTRI Approved Publication Arrangement (APA) reporting service providing PTRI’s client base with a full spectrum of integrated reporting solutions for entities subject to regulatory regimes in Australia, Canada, Europe, Hong Kong, Singapore, UK and the US.