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TradingTech Insight Brief

IPC and Celoxica Deliver Connectivity & Risk Management to Tier 1 Investment Bank in Taiwan

IPC has teamed up with Celoxica to provide a Tier 1 Investment Bank in Taiwan with a fully managed colocation solution that improves Direct Market Access (DMA) and pre-trade risk management. The service uses IPC’s Connexus platform and is hosted in the CHT data centre. It promises more efficient market access and reduced trading latency in Taiwanese financial markets.

The collaboration integrates Connexus with Celoxica’s Market Access Gateway (MAG) platform, which supports trading across multiple asset classes, with ultra-low latency pre-trade risk management. The Investment Bank also gains cost efficiencies by moving from a capital to an operational expenditure model.

Exegy Launches Advanced Ticker Plant for Optimised Options Market Data Processing

Exegy, the front-office trading solutions vendor, has introduced its next generation ticker plant, specifically designed for processing options market data. The new platform is capable of processing the entire OPRA feed on a single 2U server and offers a 2x reduction in latency compared to its predecessor.

As options trading volumes rise and with the new OPRA feed set to launch on October 9th, OPRA’s guidance states that participants should prepare for capacity of 120+ million messages per second following the expansion. Exegy’s FPGA-based appliance is designed to provide significantly higher throughput than software-based systems.

TS Imagine Integrates CLSA’s AI-powered European Algo Suite into its Platform

TS Imagine, the global provider of trading, portfolio, and risk management solutions for financial institutions, has integrated CLSA’s AI-powered European algorithmic trading suite into its platform. This move is part of TS Imagine’s ongoing effort to offer cutting-edge trading tools to its clients.

Investment managers who use TradeSmart, TS Imagine’s platform with pre-certified connections to over 250 brokers and venues, will now have access to CLSA’s AI-powered European algorithmic suite, a proprietary AI technology allowing the algorithms to learn and adapt as they trade, and which uses neural networks and dynamic execution planning to adapt trading strategies in real time based on changing market conditions.

Bloomberg Launches New FX Pricing Quality Tools for FXGO Clients

Bloomberg has introduced a new suite of FX Pricing Quality tools to clients of the FXGO multi-bank FX trading platform, through MISX, the company’s multi-asset reporting tool for electronic trading. The tools allow users to swiftly analyse and assess pricing quality and performance for any RFQ pricing requests sent over FXGO, including batch trades,

The new FX Pricing Quality Tools aim to help both price makers and takers understand and improve their pricing quality. Price makers can pinpoint missed pricing opportunities and their causes, such as internal counterparty setup issues or internal credit rejects. Price takers, on the other hand, can investigate counterparty pricing performance, including how often a counterparty priced and won a trade or declined to price.

Aquis Exchange Acquires Minority Stake in US-based Startup OptimX

Pan-European equities market operator Aquis Exchange has taken a minority stake in OptimX Markets Inc., a US-based startup focused on block trading solutions. The investment will enable Aquis to integrate its technology platform with OptimX’s suite, which is aimed at aiding investment banks, brokers, and institutions in the block trading market.

The investment totals $1.5m, and is made as part of a consortium that includes DB1 Ventures, the venture capital arm of Deutsche Boerse Group. Aquis’s COO, Jonathan Clelland, is expected to join the OptimX board as a Non-Executive Director in the future.

Parameta Solutions and General Index Launch New LNG Pricing Service

OTC market & transactional data provider Parameta Solutions, a division of TP ICAP, has teamed up with benchmark provider General Index (GX), to introduce a new liquified natural gas (LNG) pricing service. This service will provide daily benchmarks for transparent trading between key LNG hubs.

Powered by data from TP ICAP’s Energy & Commodities desks, the Parameta Solutions Global LNG Basis Indices will offer a tech-led approach to price evaluations, according to the company. Managed by GX, these indices will aim to assist with price discovery, act as a reference rate in financial agreements, and support clearing and settlement procedures.

LSEG Commits to Transition Clients from Eikon to Workspace by End of 2024

The London Stock Exchange Group (LSEG) intends to transition its clients from the Refinitiv Eikon platform to its newer Workspace system by the close of 2024. During LSEG’s 2023 H1  earnings call, David Schwimmer, LSEG’s chief executive, revealed that Refinitiv’s financial platform, Eikon, would be discontinued in early 2025, anticipating that the shift to Workspace would largely be complete by the end of 2024.

The transition comes after LSEG’s acquisition of Refinitiv in 2021 for $27bn, resulting in subscription revenue making up over 75% of the group’s earnings. LSEG’s collaboration with Microsoft on the Workspace platform has been significant, with Microsoft investing a 4% stake in the exchange at the end of last year.

ION Boosts XTP Execution Solution with Direct Access to Cboe Europe Derivatives

Trading and risk management solutions vendor ION has upgraded its XTP Execution solution to give direct access to pan-European equity derivatives exchange Cboe Europe Derivatives (CEDX). XTP Execution offers automated trade workflow, integrated order management and execution, and robust connectivity to global markets.

With CEDX’s stated aim to foster larger, more liquid markets for European equity derivatives, direct access to the exchange via XTP Execution promises to facilitate better connectivity and to lower barriers to entry for its customers.

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.