TradingTech Insight Brief
Adaptive Announces Performance Breakthroughs with Aeron Technology on Google Cloud
Adaptive Financial Consulting (Adaptive) has announced significant performance improvements for its Aeron technology, a cloud-native, open-source, low-latency message transport and cluster technology, following extensive testing on Google Cloud infrastructure. The collaboration between Adaptive and Google Cloud showcased Aeron’s ability to deliver microsecond latency and millisecond recovery, enabling low-latency, resilient trading systems without relying on traditional on-premises infrastructure.
Aeron comprises Aeron Transport, which facilitates messaging, and Aeron Cluster, designed for zero downtime, 24/7 trading systems. Aeron Premium adds an extra suite of components that further enhance performance, security, fault tolerance, and recovery. Aeron Premium employs components for kernel bypass, significantly reducing packet processing overhead and thereby enhancing network transport speeds.
Imandra Brings AI-Powered Automated Reasoning and Digital Twin Technology to European Exchange Landscape
Imandra, an innovative AI startup, has made significant gains in the European exchange market with its flagship product, Imandra Markets, which now oversees technology responsible for about 25% of all European equities trading. Imandra Markets offers a comprehensive suite of AI-powered services aimed at enhancing the design, testing, calibration, and auditing of complex financial systems. This enables exchanges and trading venues to significantly improve their business intelligence and system resilience.
Imandra’s digital twins simulate real-world applications in a secure, virtual environment, employing AI-powered logical reasoning to verify system behaviour. This enables users to identify defects and inefficiencies early, before systems process any data or trades. This approach is significantly more efficient and cost-effective for eliminating problems than addressing them in later stages, according to the company.
Tokenbridge Introduces New Features to Enhance Tokenised Model Portfolios in Wealth Management
Tokenbridge, the token aggregator and distribution platform, has unveiled a set of new features aimed at revolutionising the wealth and fund management industry through the support of tokenised model portfolios. The new functionalities facilitate seamless integration and automation between tokenised and traditional finance (TradFi) assets, streamlining the construction, distribution, and evaluation of model portfolios.
The new features are designed to reduce the complexity, volume, and cost of managing portfolios, enhancing connectivity between model portfolio providers, distributors, and clients through smart contracts. For investors, the features offer flexibility and personalisation in portfolio management, aligning investment preferences across both tokenised and un-tokenised ecosystems.
S&P Global Introduces AI-Enabled Search on Marketplace Platform
S&P Global has launched a new AI-enabled search feature on its Marketplace platform, designed to transform how users discover the company’s data and solutions offerings across its five divisions and from curated third-party providers.
The Generative AI search, developed in collaboration between S&P’s Market Intelligence and Kensho divisions, offers a more intuitive and efficient search experience by using a large language model to understand natural language queries and recommend relevant data sets and services.
SimCorp Partners with Venn by Two Sigma to Enhance Multi-Asset Portfolio Management
SimCorp, the investment management solutions provider, has announced a strategic partnership with Venn by Two Sigma, aimed at revolutionising the management of multi-asset portfolios. The collaboration integrates SimCorp’s Axioma’s equity factor models with Venn’s advanced factor analytics, addressing the increasing complexity in portfolio management as investors shift from traditional asset allocations to more diverse investments, including private markets.
Through the partnership, Venn’s users will gain access to enhanced equity risk factors from the Axioma US and Worldwide Equity Factor Risk Models, enabling them to achieve deeper insights into risk and expected returns.
LTX Secures Four Patents for Fixed Income Trading Innovations, Enhancing Bond Market Efficiency
Electronic trading platform LTX, a Broadridge subsidiary, has been awarded four new patents for its fixed income trading technology. The patents encompass bond similarity technology, dealer selection score technology, liquidity aggregation technology, and RFQ+ trading protocol, innovations designed to streamline pre-trade decision-making and optimise trade execution in the corporate bond market. Together, the patents enhance the processes for selecting bonds and counterparties, as well as for executing large-scale electronic trades, which may lead to improved pricing due to heightened participant involvement.
Established by Broadridge, LTX leverages AI-driven workflows throughout the corporate bond trading lifecycle, from analysis to trading. In June 2023, LTX launched the patent-pending BondGPT, followed by its enterprise version, BondGPT+, in November 2023. Both applications are designed to offer quick identification of corporate bonds and provide rapid responses to complex bond-related inquiries.
BMLL Launches Key Datasets on Snowflake Marketplace
BMLL, the Level 3 data and analytics provider, has made three new datasets available on the Snowflake Marketplace, marking the completion of the first phase of its programme aimed at enhancing dataset accessibility for customers. Building on their September 2023 partnership with Snowflake, BMLL now offers market participants Daily Classified Trades, Level 2 Quotes, and Millisecond CBBO datasets in addition to existing Level 3 data and analytics.
The collaboration between BMLL and Snowflake, with the latter also investing as a strategic Series B investor, aims to revolutionise the way market participants source and handle large datasets, by providing high-quality, easily accessible data without the need for extensive in-house resources.
CME Group and DTCC Launch Enhanced Cross-Margining for Clearing Members
CME Group, in collaboration with The Depository Trust & Clearing Corporation (DTCC), has officially initiated their advanced cross-margining system. This development introduces capital efficiency improvements for clearing members involved in trading and settling both U.S. Treasury securities and CME Group Interest Rate futures.
The upgraded framework now permits eligible members from both CME Group and DTCC’s Government Securities Division to cross-margin a broader range of products, such as SOFR futures, Ultra 10-Year U.S. Treasury Note futures, and Ultra U.S. Treasury Bond futures, alongside FICC-cleared U.S. Treasury notes and bonds. Additionally, repo transactions backed by Treasury securities with over a year until maturity are also eligible for the enhanced arrangement.
S&P Global Market Intelligence Integrates Nikkei News Offering into S&P Capital IQ Pro Platform
S&P Global Market Intelligence has announced an enhancement to its S&P Capital IQ Pro platform through the integration of Nikkei’s comprehensive news service, a move stemming from their partnership initiated in 2022. The integration will provide users with insights into the Asia-Pacific financial markets, regulatory changes, corporate developments, and emerging trends.
The collaboration between S&P and Nikkei marries editorial with advanced data analytics, offering a one-stop solution for APAC market intelligence. Additionally, Nikkei News will soon become available via feed delivery, in a machine-readable format optimised for Natural Language Processing (NLP) applications. This content will feature metadata tagging, enhancing its usability and ensuring better compatibility with NLP tools.
R3 Unveils R3 Digital Markets to Facilitate Digital Asset Adoption with Kate Karimson at the Helm
DLT technology and services company R3 has introduced R3 Digital Markets, a solution suite aimed at empowering firms to leverage digital assets and currencies. The new offering, underpinned by R3’s tokenisation platform, Corda, is designed to enhance efficiency and reduce costs within financial markets seamlessly integrate Distributed Ledger Technology (DLT) into fundamental business practices.
To lead the roll out of the new suite, R3 has appointed financial technology leader and capital markets expert Kate Karimson as Chief Commercial Officer. Karimson joins R3 with a proven track record, following leadership roles at CME Group, BrokerTec, ICAP and LedgerEdge.