Exchange Data International Partners XTAL Strategies

Exchange Data International (EDI) has partnered XTAL Strategies with the aim to support XTAL’s regulated private market benchmark initiative. The initiative comes ahead of EU Benchmark Regulation (BMR), which comes into force in 2022 and will require EU supervised users of indices to only use benchmarks that comply with the regulation. XTAL predicts the adoption of BMR standards will make current private market investor benchmarking tools obsolete. The initiative to develop private market benchmarks aims to fill the gap. EDI will source detailed information required to construct private equity indices on unlisted private market funds.

Santander Bank Polska Deploys Horizon for Market Making on Warsaw Stock Exchange

Santander Bank Polska, one of the largest financial institutions in Poland, has deployed Horizon Software for its market-making activities on the Warsaw Stock Exchange (WSE). The partnership gives Santander the tools and technology for both quoting and hedging, and covers a range of asset classes, including equities, equity futures and index futures on the WSE. The deployment provides clients who trade on WSE with a single cross-asset, algo-powered platform for both principal and agency trading, providing efficient access to the market and allowing clients to obtain an accurate monitoring of positions, according to the company.

GoDoFX Selects Integral MarginFX to Support Growth of FX and CFD Business

FX technology provider Integral has been chosen by fledgling UAE-based retail brokerage GoDoFX, to support the growth of its FX and CFD business in the region. GoDoFX, founded earlier this year, selected Integral for its institutional-grade technology, which provides a high degree of customisation around trading workflows, seamless connection to the market through MT4, and sophisticated pricing and risk management. Deployed in an interoperable cloud-based environment, Integral’s MarginFX will enable GoDoFX to rapidly design workflow and to deliver tailored and personalised offerings to its customers.

TORA Integrates Glimpse Fixed Income Data Sharing Platform

Cloud-based front-to-back office technology provider TORA, has integrated the Glimpse Markets data sharing platform for fixed income into its order and execution management system (OEMS), enabling TORA’s OEMS users to seamlessly view Glimpse’s aggregated buy-side execution data at point of trade. The integration aims to give the buy-side more control and visibility.

Clients can also choose to contribute their trading data from TORA’s OEMS to Glimpse, thus receiving a ‘data dividend’ for the information that they contribute, based on the number of trades and total volume. TORA’s OEMS provides bond traders with access to advanced trading functionality, and Glimpse Markets provides the buy-side with a post-trade data-sharing service for bond investors.

Etrading Goes Live with Digital Token Identifier Registry

Etrading Software, acting as the exclusive registration authority for the ISO standard for Digital Token Identifiers (DTIs), has gone live with the DTI Registry that will assign the identifiers. Etrading’s Digital Token Identifier Foundation (DTIF), a non-profit division of the company, is responsible for the DTI Registry and will provide golden source reference data for the unique identification of digital tokens based on ISO’s new standard for digital assets, ISO 24165. The DTI Registry has been launched ahead of the ISO standard, which is scheduled to be published in Q3 2021, to meet industry and regulatory need.

MEMX Selects Beeks for Latency Monitoring of New Exchange

Members Exchange (MEMX), an emerging US equities exchange, has selected Beeks, a UK-based trading connectivity and infrastructure specialist, for latency monitoring, following a competitive review of packet capture, latency and analytics solutions. As a new technology-driven stock exchange, MEMX had no legacy systems to integrate and no pre-conceived bias towards any particular solution. During the assessment and evaluation phase, MEMX focused on two key areas; high fidelity data capture and the ability to provide insights regarding functions critical to their technology stack.

The Beeks solution will allow MEMX to handle expected data rates, including microbursts, with scale to support the exchange’s growth projections. The solution enables MEMX to capture traffic on its systems with zero data loss, and provides analysis tools that support the exchange’s core engineering effort to achieve a fast, deterministic and fair experience for its clients. The ability to deploy on its own hardware will allow MEMX to manage the architecture and scale the solution to meet its performance and capacity objectives.

GroupAma Successfully Executes First Trade on Wave Lab’s eLISA OEMS

Credit execution solution startup Wave Labs has successfully executed the first live trade on eLISA, its Electronic Liquidity Seeking Application, with Groupama Asset Management, in coordination with Bank of America Merrill Lynch and Morgan Stanley.

eLiSA is a fixed income order and execution management system (OEMS) that aims to empower true holders of fixed income liquidity to transition from an intermediary-driven to a liquidity-driven market structure. It utilises cloud-based APIs to route orders and complete trades, while also offering pre- and post-trade analytics. The trading exercise with GroupAma AM was conducted as part Wave Labs’ production readiness process for eLISA, with several more validation points scheduled for the next few months with other major buy-side firms.

Gresham Completes $38.6 Million Acquisition of Electra

Gresham Technologies has closed the acquisition of Electra Information Systems, reinforcing its market position in reconciliation solutions for financial markets and strengthening its expanding operations in North America. Electra is a provider of post-trade automation solutions, with a focus on improving efficiency and mitigating risk for buy-side participants. The investment follows Gresham’s acquisition of Inforalgo Information Technologies in July 2020, and creates a combined business providing data aggregation, control and reconciliation solutions, and supporting 270 customers worldwide.

Deutsche Bank Establishes ESG Centre of Excellence in Singapore

Deutsche Bank has set up an ESG centre of excellence in Singapore. Its activities include a focus on ESG transactions across all business divisions, including its investment bank, corporate bank, international private bank and asset management. It will also consider innovation at the nexus of ESG and fintech to develop new products addressing gaps in the ESG market, such as impact monitoring, data management, and payments to un-banked communities. Kamran Khan, Deutsche Bank head of ESG for Asia Pacific will lead a sizeable team at the centre.

Pico Creates Chinese Entity in Shanghai to Strengthen Its APAC Presence

Trading technology provider Pico has extended the reach of its global offering with the formation of a wholly foreign-owned enterprise (WFOE) in China, British Commercial Pico (Shanghai) Information Technology Co., Ltd.

Located within proximity to the Shanghai Stock Exchange (SSE) data centre, and supported by local engineering and data centre management expertise, the new enterprise will initially provide proximity hosting and fulfilment services in Shanghai and Shenzhen for non-exchange members looking to access the Chinese market, as well as market data via its colocation facility in the Hong Kong Exchanges & Clearing (HKEX) data centre.

This marks the latest chapter of Pico’s growth in the APAC region, following new colocations in Taiwan and the Republic of Korea in 2020, and further expansion in Japan, where the company now offers ultra-low latency access to the Japanese stock exchanges’ JPX colocation ecosystem. Pico has also added market data from the Shanghai and Shenzhen stock exchanges to its market coverage.