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Redline Releases Feed Handler for EBS Live Ultra Redline Trading Solutions has announced the availability of a new InRush feed handler for the new high performance EBS Live Ultra market data feed. “What’s significant about this announcement is that we now have a key FX market venue delivering this high performance market data feed and this means that firms can use a solution like Redline to exploit that gain in performance,” comments Mark Skalabrin, CEO of Redline. He says that he views this as part of a broader trend that is occurring in the FX market whereby banks, hedge funds and proprietary trading firms are increasingly looking for ways to increase their performance and reduce their latency.
FastMatch Targets Clicker Traders with TradAir Partnership FastMatch and TradAir have announced a new partnership looking to target professional bank and institutional ‘clicker’ traders. FastMatch, currently services banks, institutional clients, and professional trading firms, with average daily volumes (ADV) of around $13 billion, executed via APIs. But now the ECN is targeting traders that still execute by clicking on screens and typically leverage a broad range of trading styles and workflows. In order to reach the ‘clicker’ segment of the market, FastMatch decided that it needed a technology partner, with a secure, end-to-end trading platform, that was fully integrated with FastMatch’s ECN order book.
Infor Adopts Reval usiness applications provider Infor is moving its global treasury operations to the Reval Cloud Platform, complementing its own financial management system in use by the company.
CLS to Launch Netting Service Using Blockchain Technology CLS Group is planning to release a payment netting service, CLS Netting, for buy and sell-side institutions’ FX trades that are settled outside of its settlement service. Firms will have the choice of connecting to the service via existing channels or by utilising Distributed Ledger Technology (DLT). CLS claims that the global FX market is limited by the lack of a standardised payment netting process for trades not settled within CLS. The firm claims that in many cases institutions are forced to intervene manually to complete the process, leading to inconsistent and bespoke approaches to netting throughout the market, which in turn results in higher costs and increased intra-day liquidity demands.
LMAX Exchange Live at NY4 LMAX Exchange is expanding its infrastructure by launching a North American matching engine in the Equinix International Business Exchange data centre in New York (NY4). The matching engine is a new liquidity pool for institutional spot FX trading, which the firm says is built specifically for funds, asset managers, brokerages and banks. The new exchange enables North American clients to trade on, no ‘last look’ limit order liquidity. LMAX says US clients will further benefit from low latency execution, high fill rates, price improvement as standard and access to real time streaming market data.
SmartTrade Launches Big Data Analytics Tool SmartTrade Technologies has launched a new cross-asset big data analytics solution. The new solution, smartAnalytics, is designed to enable firms to achieve a greater control and transparency by leveraging smartTrade’s ability to store, analyse and visualise all the data flowing through their trading infrastructure. David Vincent, CEO of smartTrade, says that there are two distinct reasons why market participants need these tools. “The first reason is because new in regulations such as Mifid II regulators are asking for much more transparency into the trading process. So for compliance purposes, it’s important to have the reporting capabilities to provide data explaining the way that they traded.
Are FinTechs Really Going to Drive Change Financial Markets? Along with “Blockchain” the most ubiquitous phrase in financial markets this year has been “FinTech”, which of course encompasses blockchain technology. Venture capital (VC) money continues to pour into the space, innovation labs and accelerator programmes are sprouting up in banks across the globe and many established technology vendors within the financial services industry appear keen to adopt the FinTech label. But is the FinTech that we’re seeing come to market now really anything new? Or is it just the continuation of an old trend that’s been given a more exciting and investor-friendly label?
Thomson Reuters Launches Managed Services in NY4 Thomson Reuters has launched Elektron Managed Services in the Equinix NY4 data centre in Secaucus, New Jersey. The concept behind this move is that financial institutions will be able to free up resources to focus more on their core activities by outsourcing the management and support of Thomson Reuters Enterprise Platform (TREP) and Elektron Real-Time from customer managed to Thomson Reuters managed services, in addition to the procuring market data infrastructure, networking, space and power. “Access to reliable, time sensitive financial information is crucial to market participants who are automating and outsourcing wherever possible to improve performance and reduce costs,” says Paras Sidapara, global head of managed services at Thomson Reuters.
Firms Explore Blockchain for Reference Data R3 and Axoni, along with seven buy and sell side firms, are working to explore ways that blockchain technology can be used to simplify reference data processes. The group, which includes Alliance Bernstein, Citi, Credit Suisse and HSBC, recently completed a multi-month proof of concept (PoC) exercise aimed at building a distributed ledger prototype that can enhance the risk management, cost and efficiency issues inherent in managing financial reference data. The prototype was created using Axoni Core, the firm’s proprietary distributed ledger software, to simulate the collaborative management of reference data, as well as the use of that reference data for corporate bond issuance. The technology is designed to enable participants to interact with reference data after issuance, with any proposed changes requiring validation by the underwriter to ensure the ledger provided a single, immutable record of all data related to the bond.
Lombard Risk Partners with TMX Market Insights Collateral management and regulatory reporting solutions provider Lombard Risk Management has extended its relationship with TMX Market Insights Razor Risk to provide the provision of calculation and margin analytics.