TradingTech Insight Brief
LedgerEdge Enters Administration Amid Tough Funding Climate
London-based corporate bond trading platform, LedgerEdge, has entered administration just three years after its inception. The company launched as a multilateral trading facility (MTF) in the UK last year, with approvals from both the UK’s Financial Conduct Authority (FCA) and US regulatory bodies.
LedgerEdge aimed to modernise the corporate bond market by combining artificial intelligence and distributed ledger technology to offer better connectivity, new liquidity opportunities and complete data control. However, the firm cited an “extremely challenging funding environment” as the main reason for the closure.
Guardian Capital Selects FactSet and DataRobot to Boost Analytics Platform
Guardian Capital LP’s i3 Investments Team, a portfolio management team within Guardian Capital that combines AI with human intelligence for stock selection, has chosen FactSet’s Programmatic Environment (FPE) and DataRobot to enhance its analytics platform and improve end-to-end quant workflow.
The relationship enables i3 Investments to combine FactSet’s quantitative product suite for factor creation and research with DataRobot’s integrated AI and Machine Learning (ML) platform to help solve complex investment management problems.
Advantage Futures Adopts Eventus’ Validus for Trade Surveillance
Advantage Futures, one of the highest volume clearing firms in the futures industry, has chosen Eventus Systems’ Validus platform for its trade surveillance needs. After extensive research and testing, Validus was selected for its advanced machine learning capabilities, customisable features, ease of use and the knowledge and responsiveness of the Eventus team.
The Validus platform, which handles billions of messages per day and is used widely throughout the industry across asset classes, offers a combination of automated processes, including machine learning, to provide alert triage and escalates the most actionable alerts for further investigation.
Amundi Intermédiation Selects FlexTRADER EMS for Cross-Asset Trading Consolidation
Amundi Intermédiation, the execution business subsidiary of Amundi Asset Management, has selected FlexTrade Systems’ FlexTRADER EMS as its global, centralized EMS platform to deliver cross-asset trading capabilities to over 60 dealers across its investment hubs with trading desks in Paris, Dublin, Singapore and Tokyo.
FlexTRADER’s advanced automation tools will aim to streamline Amundi Intermédiation’s order and workflow management across all asset classes. The platform’s fixed-income capabilities will also help automate and electronify Amundi’s bond execution operations. While equities and derivatives are currently live, fixed income deployment is scheduled for the end of 2023.
McKay Brothers Launches Ultra-Low Latency Cboe UK Equities Data Service at London Stock Exchange
McKay Brothers International SA (MBI) has launched its latest low latency market data service, now offering Cboe UK cash equities raw data at the London Stock Exchange through its wireless QRD service at what the company claims is the lowest known latency. The service brings together data from Cboe UK’s CXE and BXE feeds in their native exchange format.
MBI specialises in ultra-low latency market data distribution and low latency wireless bandwidth between global financial markets. This new service enhances its existing offer, which already includes raw and standardised market data distribution to the main exchange-trading European centres from major financial exchanges.
RocketFin Joins OpenFin’s Ecosystem to Enhance Risk Management Solutions
Risk management technology services provider RocketFin has become a certified development partner of OpenFin, adding to OpenFin’s growing ecosystem of partners. This makes RocketFin the only firm with certification in both OpenFin and Beacon’s ecosystems. The partnership will allow RocketFin to provide its customers with a unique integrated solution that combines risk management expertise with OpenFin’s advanced operating system technology.
With this move, RocketFin can now offer its latest risk management solution on the OpenFin operating system, with the aim of giving customers access to a range of tools to help them manage risk more effectively.
Adaptive Expands its Managed Service Offering to 24/7 Operations
Adaptive Financial Consulting has expanded its Managed Service and Support product, ‘Operate’, to provide a 24/7 managed service to run the company’s cloud-native trading platforms Operate includes cloud infrastructure management, application upkeep, technical support, monitoring and reporting.
The expansion of Operate is aided by the opening of Adaptive’s Manila office, its first in Asia, complementing the firm’s existing presence in Europe and North America. Adaptive has recently experienced a period of fast growth, seeing an increase in overall staff numbers of 19% in the past year. The company has also appointed a number of new senior staff in sales and marketing roles.
QuantCube Data Integrated in MSCI’s New Economic Regime Allocator Index
Alternative data firm QuantCube Technology’s real-time macro-economic data will be used in the newly launched MSCI Economic Regime Allocator Index by MSCI Inc. The index moves assets into different categories based on the current economic regime, using a pre-defined set of rules. The goal is to enhance investment performance by rotating and reallocating assets as the economy transitions from one phase to another.
The index identifies four different economic situations based on the rate of change of GDP and CPI indicators and whether these are rising or falling. A sectoral approach is used to optimise performance by adjusting equity holdings according to the current economic regime.
LSEG Partners with Finmechanics to Launch Corporate Treasury Risk App
London Stock Exchange Group (LSEG) has collaborated with Finmechanics, a Singapore-based financial solutions provider, to launch the Corporate Treasury Risk (CTR) app. The app aims to help corporate treasuries mitigate liquidity and market risks and reduce dependence on inefficient spreadsheet-based processes.
CTR enhances LSEG’s Eikon and Workspace platforms with post-trade analytics such as cash and liquidity forecasts, profit/loss and risk reporting, OTC derivatives valuations, and more. As a cloud-based managed service, it leverages micro-services and technology developed by Finmechanics.
DiffusionData’s Real-Time Data Streaming Solution Now Available on AWS Marketplace
DiffusionData has announced that its real-time data streaming and messaging solution, Diffusion 6.9, is now available for download on Amazon Web Services (AWS) Marketplace. This move allows businesses using AWS to streamline the purchase and deployment of Diffusion, simplifying the process for development teams.
Diffusion’s platform enables the consumption of raw data in any size, format or velocity, enriching the data in-flight before distributing it in real time securely and on a large scale. The software claims to reduce bandwidth costs by 90% thanks to its real-time event broker with intelligent queuing and patented delta-streaming protocol. Making the platform available via AWS Marketplace simplifies procurement and implementation for AWS customers.