EDX Markets Implements Eventus Validus Platform for Enhanced Trade Surveillance

Eventus, the trade surveillance and financial risk solutions provider, has announced that EDX Markets, a digital asset technology firm catering exclusively to institutional clients, has adopted the Eventus Validus platform for trade surveillance. The collaboration aims to enhance the safety and efficiency of EDX’s marketplace operations.

Founded in 2022 and backed by major Wall Street firms, EDX Markets launched in 2023 to offer secure digital asset trading with improved liquidity and risk minimisation via its central clearinghouse.

EDX Markets CEO Tony Acuña-Rohter commented: “We selected Eventus for this important technology due to the firm’s deep experience in digital assets. The Validus platform is widely accepted by regulators around the globe and was seamless to integrate into our marketplace thanks to its cloud deployment and flexible connectivity capabilities.”

Josh Hoffberg, EDX Head of Market Operations, added: “It’s extremely important that we get trade surveillance right. Eventus onboarded our engineers and integrated their trade surveillance capabilities onto our marketplace well ahead of the launch of our New Matching Engine. The Validus platform also provides us with a strong solution that is easy to use and has intuitive market visualization tools that provide us with a comprehensive view of overall activity. We look forward to leveraging the automation tools and extended surveillance capabilities Validus offers as we continue to scale and grow.”

Eventus CEO Travis Schwab said: “EDX has created an experience for institutional investors that mirrors what they have in traditional finance. Minimizing risk is a key part of that experience, and we’re pleased to equip EDX’s marketplace with our surveillance tools, further reinforcing the integrity of the platform.”

With this partnership, Eventus extends its global footprint, now serving nearly 20 digital asset venues worldwide. This deployment reinforces the companies’ commitment to robust institutional trading infrastructure and compliance.

BME Launches SpainAtMid: a New Non-Displayed Liquidity Pool for Spanish Equities

Bolsas y Mercados Españoles (BME) has launched SpainAtMid, a new non-displayed liquidity pool for Spanish equities, which enables trades in Spanish securities to be executed at the midpoint of the bid-ask spread. This advanced order book offers an additional liquidity source for high-volume trades, allowing participants to minimise market impact while ensuring robust and efficient execution.

Designed to integrate seamlessly with the BME central order book, SpainAtMid functions during the continuous trading phase. It provides flexibility for trading participants through two routing options: direct orders, which execute exclusively at SpainAtMid, and sweep orders, which prioritise SpainAtMid before routing to the central order book if unexecuted. Orders can be customised with conditions such as “Execute or Cancel” or “Minimum Volume.”

Iván Lorenzo, Product Manager, Equity Product at BME, commented: “SpainAtMid has been developed to meet the growing demand from our clients for non-displayed execution in Spanish securities. In Switzerland, SwissAtMid had been introduced in 2016 and fundamentally reshaped the trading landscape for Swiss Equities. With our extensive experience in this area in the Swiss market, we believe we are well placed to offer this option in Spain. By emulating this successful setup on the BME Exchange, SIX enables clients to benefit from the ongoing integration and knowledge exchange between its two home markets, Switzerland and Spain. And we are convinced that concentrating more liquidity on our exchanges is beneficial for all trading participants.”

Avelacom and CryptoStruct Partner to Deliver Ultra-Low Latency Solutions for Crypto Trading Firms

Avelacom, a provider of low latency network solutions, and CryptoStruct, the algorithmic trading solutions vendor for crypto markets, have formed a strategic partnership aimed at enhancing crypto trading efficiency. The collaboration combines Avelacom’s global network infrastructure with CryptoStruct’s trading solutions to offer traders ultra-low latency access to global markets, enabling seamless adaptation of strategies to market volatility.

This partnership provides crypto trading firms with several milliseconds of latency advantage and facilitates simultaneous strategy execution across multiple global markets. By eliminating technical and infrastructure challenges, the joint solution aims to allow traders to focus on strategy optimisation and improve overall performance in the highly dynamic crypto trading environment.

Aleksey Larichev, CEO of Avelacom, commented: “Our new partnership with CryptoStruct enables us to offer tier-one low latency solutions to a broader audience. Together, we’re elevating the trading experience to a higher level.”

Thomas Schmeling, CEO of CryptoStruct, added: “Collaborating with Avelacom enhances the performance of our solutions, providing our clients with a decisive edge. This partnership demonstrates how trading technology and infrastructure can jointly solve the complex demands of modern trading.”

Boubyan Bank Implements Murex MX.3 for Sharia-Compliant Treasury Operations

Kuwait-based financial institution Boubyan Bank has successfully deployed the Murex MX.3 platform to enhance its Sharia-compliant treasury operations. The implementation aims to support the bank’s scalability and meet evolving business needs while adhering to international best practices. This initiative underscores Boubyan’s commitment to offering innovative Islamic financial solutions with faster time-to-market and improved risk management capabilities.

Murex has customised its platform to accommodate the specific requirements of Islamic finance. The company serves over 300 global clients, including over 15 banks trading Islamic products across the Middle East, Africa, and Asia Pacific regions.

“The growth of Islamic finance in today’s challenging regulatory and legal landscape is pushing institutions offering Sharia-compliant products to innovate, streamline operations, and enhance risk management,” commented Marc Farah, senior business development manager at Murex. “The MX.3 for Islamic Finance solution provides banks with a competitive edge. It not only offers a comprehensive catalog of Sharia-compliant payoffs, but also optimizes operational efficiency through automated post-trade processes and a preconfigured setup. We are confident that financial institutions in Kuwait and the region will see similar success with the implementation of our solution.”

The project was executed in partnership with Sequel, a Murex associate partner, which managed system integration, migration, and post-launch support for the platform.

big xyt Partners with Trackinsight to Revolutionise ETF Data Analytics

big xyt, provider of AI-driven analytics for global financial markets, has formed a strategic partnership with Trackinsight, the ETF data provider. The collaboration merges big xyt’s expertise in secondary market analytics with Trackinsight’s extensive ETF reference data, creating a solution to deliver comprehensive insights into the $14 trillion ETF ecosystem, addressing complexities such as product evolution, regulatory demands, and the need for transparency.

The partnership provides clients with integrated datasets that enhance liquidity analysis, trading efficiency, and cost management. By combining primary and secondary market insights, the collaboration aims to improve decision-making for issuers, investors, and exchanges. Future developments will include advanced tools for global liquidity analysis and peer group benchmarking, empowering issuers to refine product strategies.

Commenting on the partnership, Robin Mess, CEO of big xyt, said: “At big xyt, we pride ourselves on our leadership in market analytics, offering deep insights into liquidity and trading dynamics across global markets. By aligning our expertise with Trackinsight’s exceptional reference and primary market data, we are creating a comprehensive solution that empowers investors, issuers, and intermediaries to navigate the ETF ecosystem with confidence and precision.”

Philippe Malaise, CEO of Trackinsight added: ” This collaboration ensures that market participants can rely on a unified source for understanding ETF performance, liquidity, and trends, driving smarter decisions and greater efficiency in the market.”

Cboe Clear Europe Gains Approval to Launch Clearing Service for European Securities Financing Transactions

Cboe Clear Europe has received regulatory approval from De Nederlandsche Bank (DNB) and the Autoriteit Financiële Markten (AFM) to clear European Securities Financing Transactions (SFTs). The new service will provide central clearing, settlement, and post-trade lifecycle management for cash equities and ETFs, supporting lenders, including UCITS and non-UCITS participants, and borrowers across 19 European Central Securities Depositories (CSDs).

Aligned with regulations such as EMIR, CSDR, and SFTR, the service is designed to enhance market transparency and efficiency. It replaces the current bilateral model with a centrally cleared structure, reducing risk-weighted asset exposures and enabling capital and operational benefits, such as cross-margining savings and streamlined settlement processes. Leveraging The Bank of New York Mellon and J.P. Morgan as Tri-Party Collateral Agents and Pirum for trade instruction management, Cboe Clear Europe aims to strengthen the competitiveness of European capital markets with the new service.

Vikesh Patel, President of Cboe Clear Europe, commented: “This achievement underscores our dedication to supporting our clients’ evolving needs and contributing to the resilience of financial markets. We greatly appreciate the support of our regulators as we deliver on our commitment to launch innovative services which we believe enhance efficiencies for European market participants and help foster the growth of the region’s capital markets.”

Jan Treuren, Senior Director, Product, Cboe Clear Europe, added: “This service is supported by our best-in-class risk management framework, offering clients the advantage of Cboe Clear Europe’s extensive settlement experience and broad direct connectivity to 19 European CSDs. Initially, the service will cover key European markets, with plans to expand the offering based on client demand and market developments.”

Exegy Expands nxAccess to Cover All Canadian Equity Exchanges

Exegy, the trading technology provider, has expanded its FPGA-based tick-to-trade solution, nxAccess, to include all Canadian equity exchanges. This development enables seamless, ultra-low latency trading across both Canadian and US markets, catering to diverse trading strategies.

The enhanced coverage allows Canadian traders to access both market data and order execution across key venues, including Montréal, Toronto, Chi-X Canada, and others. With ultra-low latency and deterministic trading capabilities, nxAccess empowers firms to optimise their trading strategies while reducing operational complexity.

David Taylor, CEO of Exegy, commented: “By enhancing our ultra-low latency product suite, Exegy reaffirms its leadership in the Canadian market and commitment to supporting clients as they navigate increasingly complex and competitive trading environments. We worked closely with a strategic client to deliver this cutting-edge solution, and it has proven to be a game-changer that can position savvy firms for success in an evolving marketplace.”

OSTTRA and FIS Partner to Enhance Transparency and Efficiency in ETD Post-Trade Processing

OSTTRA, the post-trade solutions vendor, has entered a strategic partnership with FIS to enhance transparency and efficiency in the exchange-traded derivatives (ETD) post-trade lifecycle. The collaboration will provide OSTTRA’s network of investment management clients with real-time clearing status updates from over 70 global CCPs via FIS Connections, improving transparency in give-ups and exception management.

FIS will leverage OSTTRA’s order IDs to automate and streamline allocation processes within its Cleared Derivatives solution. The partnership also supports market participants in adhering to the FIA’s DMIST 30-30-30 standards, advancing timeliness and standardisation in ETD post-trade activities.

Joanna Davies, Managing Director, Head of Trade Processing at OSTTRA, commented: “This collaboration underscores the commitment of both firms to drive innovation that brings value to all parties of an ETD trade. Together with FIS, we are shaping the future of listed derivatives trade processing, providing new levels of transparency across the ETD post-trade lifecycle.”

Andres Choussy, EVP Group President, FIS Trading and Asset Services, said: “At FIS, we’re delighted to collaborate with OSTTRA to help create an extensive network across buy-side and sell-side participants to optimise the exchange-traded derivatives (ETD) post-trade lifecycle. This collaboration is another proof point of our commitment to unlock capital markets technology to the world and sets a new standard for better collaboration and transparency.”

Blue Riband Group Selects TS Imagine’s TS One Risk Module for Portfolio Management

Blue Riband Group, the global long/short equity investment manager, has adopted the TS One Risk Module and Portfolio Risk Management from TS Imagine, the financial markets solutions vendor.

TS One is a solution purpose-built for investment teams, integrating functionalities such as Portfolio Management, Trading, Risk Management, Compliance, and Operations. Its modular design allows for scalability and adaptability, and caters to a diverse range of financial institutions, from large-scale investors to small and mid-sized hedge funds.

Commenting on the deal, James Chervak, Founder and Portfolio Manager at Blue Riband Group, said: “Our team required a SaaS solution with embedded risk management, including out-of-the-box data to power our risk engine, and the option to easily add services over time. TS One’s modular structure and battle-tested risk models stood out from the other providers due to its unique blend of sophistication and flexibility.”

“We are delighted to have been selected by Blue Riband Group as more mid-sized long/short equity funds adopt SaaS-based trading and risk management solutions,” added Andrew Morgan, President and Chief Revenue Officer of TS Imagine. “With Platform 3.0, investors and their teams have the option to begin with the TS One module they need most, and then add additional modules containing essential operational tools for compliance, accounting, risk and much more, as their business needs evolve.”

Trading Technologies to Offer Access to Cboe Equity Index Options in 2025

Trading Technologies International (TT), the global provider of capital markets technology, plans to add access to Cboe equity index options on its platform starting early 2025. This development will allow TT’s institutional and professional trader clients to trade popular Cboe index products, including the S&P 500 Index (SPX), Cboe Volatility Index (VIX), Russell 2000 Index (RUT), and Mini SPX (XSP) options contracts.

This move expands TT’s existing offerings, which already include access to Cboe Futures Exchange (CFE) and Cboe FX. By integrating Cboe’s equity options, TT aims to strengthen its position in the fast-growing equity options trading market, providing clients with a seamless way to engage with some of the most traded index derivatives globally.

Alun Green, TT’s EVP Managing Director, Futures & Options, commented: “As we continue our expansion into new asset classes, U.S. equity options represent a significant part of the derivatives space. We’re eager to unlock new opportunities for our clients with Cboe’s hugely popular index options as a major first step in this diversification. Our clients want to participate via the powerful TT platform and trusted tools, and we’re seeing particularly strong interest from firms in the Asia-Pacific region, which are excited to access the markets through the after-hours session we’ll support.”

Catherine Clay, Global Head of Derivatives at Cboe Global Markets , added: “Our collaboration with TT is particularly timely as global demand for U.S. options continues to rise, with investors increasingly seeking exposure to the U.S. equity markets. By offering clients access to Cboe’s index options products, TT will further expand their customers’ trading capabilities, enabling access to some of the most liquid markets in the world – including SPX, RUT and VIX options – and the ability to efficiently gain and manage exposure to U.S. large and small cap equity markets and market volatility.”