TradingTech Insight Brief
LSEG Introduces Turquoise Retail Max to Support Best Execution for Retail Brokers
LSEG (London Stock Exchange Group) has launched Turquoise Retail Max, a new trading service aimed at helping European retail brokers meet their best execution obligations and delivering price improvements for retail investors trading pan-European securities. Available through Turquoise Europe, the service utilises a competitive multilateral auction process and efficient processing from trading to clearing and settlement.
Turquoise Retail Max, accessible via the Turquoise Plato Lit Auctions order book, aims to achieve the best possible outcomes for retail investor orders by using a price formation mechanism based on liquidity from specialist retail liquidity providers and other market participants. The first liquidity providers to utilise the service will be Hudson River Trading and Stifel.
Appital Integrates with Virtu Financial’s Triton Valor EMS for Enhanced Investment Opportunities
Appital, the equity markets technology solution, has announced the integration of Virtu Financial’s Triton Valor Execution Management System (EMS) with Appital Turquoise BookBuilder, the algorithmic bookbuilding platform. The integration will allow buy-side firms to receive Appital liquidity opportunities directly into their workflows and trading infrastructure, enabling them to access previously inaccessible cross-border deal flow opportunities.
Among the first firms to access Appital’s bookbuilding platform via the Triton Valor EMS are Morgan Stanley Investment Management, Unigestion SA, Principal Financial Group, Groupama Asset Management, and BBVA Asset Management.
ION Markets’ LatentZero OMS Integrates with Trumid
ION Markets has announced the integration of its LatentZero OMS with Trumid, a fixed income electronic trading platform. This connection will enable users to interact with a wider group of buy and sell-side market participants, providing greater access to liquidity and trading opportunities while ensuring trade compliance from the LatentZero OMS.
The integration also offers access to Trumid’s integrated market data intelligence tools, delivering enhanced transparency across the trade lifecycle and a personalised experience, including smart notifications to guide and inform trading decisions.
dwpbank and valantic FSA Launch wpNex Digital Assets Platform for German Banks
Deutsche WertpapierService Bank AG (dwpbank) has partnered with valantic FSA to launch the “wpNex” digital assets platform, enabling 1,200 banks and savings banks in Germany to trade digital assets for themselves and their customers. Initially offering cryptocurrency trading, wpNex will gradually expand to include regulated trading of other digital assets.
Valantic FSA’s automation platform connects existing core banking systems with the trading system of the execution broker, wallet provider, and settlement service provider, providing an automated workflow between parties. This enables banks to offer customers access to cryptocurrency trading through existing systems while significantly reducing transaction costs.
UBS and Asian Bank Pioneer Cross-Border Intraday Repo Trade on Broadridge’s Blockchain Platform
UBS and a global Asian bank have successfully executed the first cross-border intraday repo transaction on Broadridge Financial Solutions’ blockchain-enabled Distributed Ledger Repo (DLR) platform. This milestone marks the launch of the next phase in the rollout of Broadridge’s DLR platform, a significant step towards a more efficient means of intraday liquidity management, building on the initial success of the platform and its growing expansion across the global repo community.
The DLR platform allows market participants to agree, execute, and settle repo transactions with flexible settlement cycles based on counterparties’ needs. By increasing settlement velocity and collateral mobility, the platform enables intraday transactions and reduces the operating cost and risk associated with all repo activity, including overnight and term repos.
Northern Trust’s Integrated Trading Solutions Experiences Rapid Growth
Northern Trust Capital Markets has experienced rapid growth in its Integrated Trading Solutions business, more than doubling over the past three years and adding 22 new clients in 2022 alone. The platform is being increasingly chosen by asset managers for their outsourced trading needs, with over 90 clients across the globe, including the US, UK, Netherlands, Switzerland, Australia, New Zealand, and Asia.
The Integrated Trading Solutions platform provides global trading expertise in equities, fixed income, exchange traded derivatives, futures, and exchange traded funds (ETFs) across global markets. It offers multiple trading locations, access to high-quality liquidity, and fully integrated middle and back-office services, enabling asset owners and managers to lower costs, reduce risk, manage regulatory compliance, and enhance transparency and operational efficiency.
BMLL Broadens Level 3 Data Coverage of Asia Exchanges
BMLL, the independent provider of harmonized, historical Level 3 data and analytics, has announced the expansion of its equities and ETF data coverage to include Asia Exchanges, offering users a comprehensive global view of market behaviour based on the most granular Level 3 data. The addition of CBOE Japan, Japannext, and Singapore Exchange data complements BMLL’s existing Tokyo Stock Exchange coverage.
The expansion aims to benefit BMLL’s diverse user base by providing access to the most granular Level 3, T+1 order book data and advanced pre- and post-trade analytics on a global scale, including buy-side firms seeking alpha in Asian markets, sell-side execution firms aiming to enhance product offerings, and Asia exchanges looking to perform venue comparisons against local and global peers to better understand market quality and the performance of liquidity providers.
Horizon Software Certified on Montreal Exchange
Electronic trading solutions and algorithmic technology provider Horizon Software has announced that it is now certified on the Montreal Exchange (MX). With the certification, Horizon’s clients can now trade exchange traded derivatives, including equity derivatives, currency options, index derivatives, and interest rate derivatives.
Horizon is also now able to provide connectivity to financial institutions that want to trade on MX, for committed orders and pre-arranged trade workflows, orders for implied-based strategies, basis trades on close instruments, and stop orders.
QuantCube Launches Core CPI Nowcast Indicator for the US Economy
QuantCube, the alternative data analytics vendor, has launched the QuantCube Core CPI Nowcast indicator, designed to provide crucial insights into core inflation trends in the US economy, significantly ahead of official numbers published monthly. The indicator quantifies core inflation by measuring changes in the prices of goods and services, excluding the food and energy components included in the broader Consumer Price Index, which are generally more volatile.
The QuantCube team applied a fundamental approach to construct the new core CPI indicator – collecting and analysing high volumes of frequently-published alternative data on the prices of goods and services.
Scila Implements Multi-Asset Trade Surveillance for Capital.com
Scila AB, the Stockholm-based provider of trade surveillance, anti-money laundering and risk management technology, has been selected by Capital.com, the retail trading platform, to deliver a multi-asset class trade surveillance solution for global monitoring of trading activities.
Scila’s trade surveillance solution is deployed at customer sites in more than 20 countries, including market participants, exchanges and regulators. It includes a broad selection of alert rules and reports, a search and replay functionality, trading analytics tools, and utilises machine learning capabilities to classify alerts and e-communication such as chats, emails and voice recordings.