Deutsche Börse re-signs for Scila Surveillance sofware
Deutsche Börse has renewed its contract with Stockholm-based independent surveillance technology provider Scila, signing a five-year agreement to continue using its software.
Trading Technology
Blockchain Ready?
2015 has been a year of extensive discussion about what role blockchain can play in making processes in the financial services industry more efficient. It has also been a year where both banks and start-ups have been testing whether distributed ledger technology can adequately replace costly legacy systems and improve securities processing, writes Brian Collings. […]
Markit and CLS to provide cross currency swaps settlement
Financial information provider Markit and foreign exchange settlement service CLS have launched a new service for the cross currency swaps market.
Kynetix kicks off blockchain commodities consortium
Post-trade technology company Kynetix has launched a blockchain consortium, focused on using distributed ledger technology in commodities markets. The move comes as financial institutions increasingly explore ways to integrate the blockchain concept into mainstream financial services.
FIX adopts open access mechanism for trading applications
Non-profit organisation the FIX Trading Community has started posting its projects on developer repository GitHub, as part of a drive to get all of the important resources freely available in one place using a single sign-on. The move was done to encourage wider access and to speed up the development of standards for high-performance trading applications.
Distributed ledger adoption in securities will split front-to-back
Either the distributed ledger is the greatest revolution in financial services for a generation, or it will make little difference to anything, according to the strongly divided opinions expressed by speakers at the Mondo Visione Exchange Forum in London last week.
BT adds Volante messaging tools to Radianz cloud
Financial network BT Radianz has added Volante Technologies’ tools to the BT Radianz Cloud, in a move the two firms say will improve the reliability of clearing, settlement and payment transaction processing while cutting costs.
European exchanges shuffle IT management
European exchange groups in London and Frankfurt have announced changes in their technology leadership, with the announcement of a new group chief information officer at the London Stock Exchange and a restructuring of responsibilities at Deutsche Börse.
LSE signs MoU with Khazakhstan Stock Exchange
The London Stock Exchange has signed a memorandum of understanding with JSC Kazakhstan Stock Exchange, the first ever between the two exchanges.
CME inks post-trade deal with Dwolla
Derivatives exchange CME has signed a commercial agreement with Dwolla, a bank transfer platform. The arrangement will use Dwolla’s real-time architecture to support on demand payment clearing and settlement services. It is intended to streamline payment operations for CME Clearing members. “With its established customers and proven real-time systems, Dwolla’s technology provides CME Group with […]
Why pending rate rises fuel the need for collateral optimisation
Eight years on from the global financial crisis, and banks continue to face a growing number of challenges. Many have ceased or significantly reduced proprietary trading, with the resulting reduction in both risk and reward. This period has also seen lower risk appetite among many investors and continuing global competition which has put pressure on profit margins,
Rearranging risk
Pushing more complex products towards mandatory central clearing may increase the risks to which CCPs and clearing members are exposed. Frances Faulds examines whether CCPs can continue pooling risks in a safe and efficient way
LSE/DTCC regulatory reporting tie-up shows the way for collaboration
London Stock Exchange and The Depository Trust & Clearing are partnering to provide clients with a connection to the LSE’s UnaVista Approved Reporting Mechanism. The service will allow DTCC clients to comply with the Markets in Financial Instruments Regulation through their current connection from DTCC’s Global Trade Repository.
Saxo opens trading platform with advanced API
Saxo Bank is to allow access to its multi-asset trading and back office infrastructure through a new open API that will allow developers and partners to integrate Saxo’s trading functionality into their own applications and systems.
Iress acquires retail trading business from London Stock Exchange
The London Stock Exchange has sold its Proquote market data and retail trading services business to Australian financial technology specialist Iress, which is expanding its capital markets and funds operations in the UK.
Bloomberg and Traiana to automate post-trade for FX options
Post-trade processing company Bloomberg STP Solutions and post-trade and risk specialist Traiana have begun a joint effort to develop a straight-through processing infrastructure for FX options. The partners say it will help to reduce post-trade costs for market participants, which have typically remained higher than execution costs.
Regulators seek input on harmonisation of unique OTC trade reporting identifiers
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions are seeking comment on proposals for harmonising the Unique Transaction Identifier used to be used for OTC derivatives trade reporting.
Project Neptune pilot goes live
Project Neptune, the fixed income trading initiative between a group of 42 large banks and asset managers, has gone live with its pilot production network, bringing the project closer to its ‘hard’ platform later this year.
GMEX signs Bank of America, prepares for launch
International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.
The new face of risk management
Regulations aimed at transparency across financial markets may be making things simpler for the regulators, but they are making life more complex for banks, according to Sven Ludwig, senior vice president, risk management and analytics EMEA, at SunGard.
DTCC Data Products to centralise data provisioning and access
Post-trade market infrastructure the Depository Trust & Clearing Corporation has launched a new centralised data provisioning service, DTCC Data Products and expanded its exchange traded funds and ISO 20022 corporate actions data offerings.
Swift adds business intelligence for securities market
Swift has formally launched a new business intelligence solution for securities market participants following the completion of an early adopter programme. Watch for Securities is “ready for full scale use” by local and global custodians, investment banks, asset managers and broker/dealers, allowing them to monitor and gain business insights from their network traffic.
McKenna to head standards at Global Legal Entity Identifier Foundation
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
London Stock Exchange acquires Exactpro Systems
The London Stock Exchange has acquired quality assurance specialist Exactpro Systems, taking 100% ownership of the company.
Swift extends KYC compliance services to securities users
Swift is extending its Know Your Customer compliance service into the securities area, making it available to fund distributors and custodians.
Nasdaq unit says risk and data capabilities give FS firms a way to rebuild client trust
Financial services firms should get a grip on their risk management and make more use of the data available to them as part of a two-way process in gaining user trust and building new revenue streams.
FIX protocol dominates in post-trade workflow
Three-quarters of market participants use the FIX protocol for confirmation and affirmation of their transactions, according to a new survey released by financial industry standards body the FIX Trading Community.
Nasdaq to introduce blockchain for private equities
Nasdaq is to use the blockchain technology behind controversial alternative currency Bitcoin, as part of a push to improve the exchange’s equity management abilities. The move is the first time a major global exchange has put the blockchain concept to use.
Cerutti out as Euronext appoints interim chief executive
Euronext has appointed Jos Dijsselhof as interim chief executive, accelerating its transition plan following the resignation of Dominique Cerutti at the end of last month. Cerutti will now leave immediately.
‘Hound of Hounslow’ highlights need for surveillance says Nasdaq
As greater convergence between asset classes and the unification of trading desks and trading strategies across multiple asset classes becomes more common, the opportunities for sophisticated market abuse may be on the rise. That may mean that the need for surveillance is greater than ever, according to Tony Sio, head of SmartsTrade Surveillance, exchange and regulators at Nasdaq.
Cerutti steps down at Euronext
Euronext has announced that its chief executive Dominique Cerutti will step down in July to become chairman and chief executive at advanced engineering group Altran.
Volante lays Foundation for faster payment systems integration
Financial messaging and data integration specialist Volante Technologies has taken a step into the world of packaged products with the launch of VolPay Foundation, a development platform “designed to ease the challenges of payment integration and payment processing projects”.
CounterpartyLink adds hierarchy profiles to legal identity service
CounterpartyLink, a provider of legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, has announced CPL Hierarchy Profile, a new product designed to provide a single view of the client across complex client groups.
Buy-side builds confidence as home-brew smart order routers gain ground
Buy-side firms stand to gain from developing their own smart order routers and carrying out their own capital markets research. But the growing independence of the buy-side must still be weighed against sell-side advantages of scale, according to speakers at the Trade Tech conference in Paris on Tuesday.
New Canadian exchange Aequitas goes live on MillenniumIT platform
New Canadian exchange Aequitas NEO has gone live for the first time, using the MillenniumIT trading platform built by the London Stock Exchange’s Sri Lanka-based subsidiary.
Buy-side lacks confidence in US and EU regulators as fear of HFT grows
Long-term investors are deeply concerned about their ability to find liquidity, with nearly 90% afraid that predatory high-frequency traders are preying on their flows, according to a new survey by block-trading network Liquidnet.
BATS brings Hotspot FX matching engine to London
Hotspot, the institutional foreign exchange market owned and operated by BATS Global Markets, is to expand its European presence with the launch of its first Europe-based FX matching engine later this year. The new matching engine will be located in the London Slough Campus data centres and will target Europe and Asia and specific FX currencies that dominate the European and Asian trading hours.
An industry imperative: Swift FIN to ISO 20022 migration
As international regulators demand more detail from banks on payments to individuals and companies, the first order of business is to ensure compliance with mandates. Migrating Swift MT payment formats to ISO 20022 will allow the industry to shape the transformation of payment messaging standards rather than have others shape it – but there is a need to set timelines for implementation or cede control.
Velocimetrics doubles data capture rates for trading analytics
Real-time business performance monitoring and analysis specialist Velocimetrics has announced that its TipOff product can now capture network packets to disk at a sustained rate of 40 Gigabits/sec, almost double its previous performance.
Temenos buys into funds market with €235m purchase of Multifonds
Temenos has moved into the fund administration business with a €235 million acquisition of Luxembourg-based Multifonds, which counts a number of Tier 1 institutions as users of its fund administration platform.
