Calypso Adds Portfolio and Risk Management Functionality to Trading Platform
Calypso Technology has extended its trading and collateral optimisation platform with the integration of real-time portfolio and risk management functionality. The integration aims to support growing numbers of investment managers trading both derivatives and cash securities. The complete solution, Portfolio Workstation, builds on existing Calypso capabilities in areas such as pricing and position keeping to...
MiFID II: Rewriting the Code
Demanding regulation is transforming order and execution management systems into detail-driven trading engines The capacity of order management systems (OMSs) to support buy-side desks was challenged at the Barcelona-based Fixed Income Leaders Summit 2015 on 14 October by John Greenan, a front office systems specialist, who suggested that some providers “had not kept pace” with...
Smart Order Routers: Transparency Clashes with Broker Proprietary Model
How do you strike a balance between providing transparency into smart order routing so that buy-side firms can understand how their orders are routed and can meet their best execution obligations, whilst protecting the intellectual property of the sell side firms providing order routing services? That’s a question that traders, asset managers and smart order...
Talking Intelligent Trading with Andrew Delaney: It’s MiFID II Time!
Hot on the heels of our highly successful Trade Europe Now! white paper (sponsored by Interxion and available for free download here), yesterday we released our latest missive on MiFID II. Titled ‘MiFID II: Practical Considerations for Gainful Compliance’, the paper is sponsored by ORC Group, and like it says on the tin it offers...
Perseus Acknowledges MiFID II Time Synchronisation Standards as Fair and Reasonable
Changes made to recommendations on time synchronisation in the European Securities and Markets Authority’s (ESMA) latest technical standards for MiFID II have been welcomed by Perseus, a provider of managed services including PrecisionSync time services, and recognised as being fair and reasonable. While previous ESMA recommendations suggested nanosecond clock synchronisation for electronic trading, the standards...
Talking Intelligent Trading with Andrew Delaney: A Symphony of Paper Tigers
Some of us were encouraged – relieved, even – to read on various non-value-added news ‘services’ (PR wires?) about the success of the Symphony trader messaging collaboration in securing financial support from Google Alphabet, the new incubator-type funding organisation supported by You Know Who. We were pleased because Google’s support clearly indicated to us that...
The Search for Liquidity in Corporate Debt Markets
This is a contributed article from Andrew Howieson, an advisor to FactEntry. Corporate bond markets are inherently illiquid There is now wide recognition that corporate debt markets lack sufficient liquidity to meet investor trading requirements. Blackrock’s September 2014 paper Corporate Bond Market Structure: The Time for Reform is Now described the trading market structure as...
Talking Intelligent Trading with Andrew Delaney: The European Question
The marketplace is whirring with great minds turning their attention to what the latest ESMA rules for MiFID II actually mean. We’re not sure anyone has completely figured that out yet, but we’ll be watching closely as we’re embroiled in a number of projects that are impacted to various degrees by the latest ESMA utterances,...
Talking Intelligent Trading with Andrew Delaney: MiFID II and the Coming Post-Trade Revolution
Word has it that ESMA is serious about its intention to publish its final guidance on MiFID II this month. With a possible (unconfirmed) publication date of September 24 doing the rounds, the market is bracing itself for a vigorously more prescriptive approach than under MiFID I, with less wiggle room for divergence from the...
New Zealand’s Chelmer Adds Azul JVM to CSS Trading Platform
By Zoe Schiff Azul Systems’ resale agreement with Chelmer will allow the Auckland, New Zealand-based trading systems supplier to offer Azul’s Zing Java Virtual Machine (JVM) to add consistency and scalability to clients’ low-latency infrastructures. The deal also expands Azul’s presence in Asia / Pacific. The relationship stemmed from Chelmer’s desire to address performance issues...