Broadridge Introduces NYFIX Fill Matching Platform for Real-time Trade Reconciliation

Broadridge Financial Solutions has launched the NYFIX Fill Matching platform, a real-time reconciliation tool tailored for asset managers with high volume or detailed orders. The new platform enhances Broadridge’s post-trade NYFIX Matching solution and is unique in providing real-time matching of fills between brokers and asset managers.

The system is designed to quickly detect trade discrepancies, allowing them to be resolved before the trading day ends. It operates by comparing drop copies of executions from the brokers with fills from the asset managers, ensuring consistent alignment and reducing end-of-day mismatches.

Bloomberg Adds Intraday BVAL Front Office Pricing Solution for Fixed Income Trading

Bloomberg has released Intraday BVAL (IBVAL) Front Office, a distinct but complementary offering to Bloomberg’s evaluated pricing service, BVAL, that uses a machine learning model to handle the intricacies of consuming billions of ticks of market data to produce frequent pricing for real-time trading decisions. The front office product delivers prices as fast as every 15 seconds and can capture a new bond issue moments after the security is available for secondary trading.

Tony McManus, global head of enterprise data at Bloomberg, says: “We launched IBVAL Front Office to provide customers with timely pricing data that easily integrates into their trading and pricing execution workflows, so they can operate faster in increasingly automated fixed income markets.” IBVAL Front Office pricing is available on the Bloomberg Terminal and via Bloomberg’s real-time market data feed, BPIPE.

SIX Collaborates with Megaport for Wider Cloud Connectivity

Swiss financial information and market infrastructure provider SIX has teamed up with Network-as-a-Service provider Megaport, to offer customers direct private access to its data services through all major public cloud providers, including AWS, Microsoft Azure, Google Cloud, and Oracle Cloud. The new service

The new initiative, SIX Connect, spans over 100 cloud regions and numerous data centres in North America, Europe, and Asia Pacific, and is designed to give clients enhanced flexibility in data access, connecting them swiftly and securely to SIX’s streaming, web, and file-based data services, whether via the cloud or physical data centres.

Broadridge and Iress Partner to Enhance Trading Solutions for UK Market Makers

Broadridge Financial Solutions has announced a strategic partnership with financial technology software company Iress, under which Broadridge’s order management system (OMS) and its Tbricks market-making platform will be integrated with Iress’s Retail Service Provider (RSP) network.

The integration aims to provide market makers with streamlined order management, enhanced market connectivity, real-time data, analytics, and robust compliance features. The collaboration, designed to improve market data access, trade execution, and risk management capabilities, will result in a bespoke trading and connectivity solution for UK market makers, giving them comprehensive access to the retail and wealth sectors.

CJC Releases Detailed Report on Data Fabrics, Cloud and Trading Technology Panel from A-Team Group’s TradingTech Briefing

CJC have published an in-depth report on the panel session ‘Adopting Modern Data Fabrics and Cloud in Trading Technology Infrastructure’ from A-Team Group’s recent TradingTech Briefing, Buy & Build – The Future of Capital Markets Technology.

The panel, featuring Peter Williams, CJC’s Chief Technology Officer, alongside Richard Balmer of IPC Systems, Naomi Clarke of CDO Advisory and Bob Mudhar of Synechron, investigated a wide range of topics around modern data infrastructure in trading.

CJC’s full debrief of the conversation, along with analysis of audience poll results, is well worth a read at here.

Orient Futures Singapore Adopts Integral’s FX Platform to Enhance Client Experience Amid Rising Demand

Futures and FX broker Orient Futures Singapore has deployed an end-to-end currency trading platform from currency technology provider Integral, with the aim of improving clients’ trading experience, streamlining trading operations and accessing a broader market. The move to adopt Integral’s platform comes after Orient Futures Singapore witnessed surging demand for its services across the Asia/Pac region.

In 2022, Integral became the first cloud-based FX workflow platform to be deployed at the SG1 data centre. Orient Futures Singapore will offer clients the ability to streamline, automate and optimise every stage of their workflow, complete with SG1 implementation.

UBS Integrates Broadridge’s DLT-Enabled Repo Solution for Enhanced Cost-Savings and Efficiency

UBS has gone live on Broadridge’s newly launched sponsored repo solution, the next phase in the rollout of Broadridge’s DLT-enabled Distributed Ledger Repo (DLR) platform, which aims to provide clients with significant settlement cost savings, process simplification, scalability, and reduction of operational risks via distributed ledger technology and smart contracts.

This marks the latest milestone in executing on Broadridge’s vision of transforming the global repo market infrastructure and further demonstrating the power and value creation of DLR, according to the company.

Bloomberg Introduces Bridge AXE for Enhanced Anonymity and Trading Interest Discovery

Bloomberg has launched Bridge AXE, an extension of the Bloomberg Bridge intermediated workflow, allowing participants to anonymously post to other Bridge participants and identify trading interests using Bloomberg’s liquidity discovery tools. This follows the launch of Bloomberg Bridge in 2022, which has now grown to more than 650 active client firms.

Bridge AXE allows buy-side firms to propose, identify, and engage with trading interests from other Bloomberg Bridge participants in an all-to-all environment. Participants can then launch targeted RFQs to begin an intermediated negotiation, anonymous to the axe contributors.

Bloomberg Finalises Acquisition of Broadway Technology to Boost O/EMS Capabilities in Credit and Rates Markets

Bloomberg has completed its acquisition of front-office solutions vendor Broadway Technology. By bringing together Bloomberg’s Electronic Trade Order Management Solutions (ETOMS) and Broadway’s low-latency execution management solution, the transaction will help further the development of a comprehensive, low-latency O/EMS for the credit and rates markets.

The acquisition aims to deliver solutions that provide greater asset coverage, connectivity, automation, and integration with pre-and post-trade workflows, according to the company.

World Federation of Exchanges Releases Recommendations on Crypto Platforms to Build Trust and Stability

The World Federation of Exchanges (WFE) today published a report, ‘Promoting Sound Marketplaces – DeFi/CeFi, Crypto Platforms & Exchanges’. The report draws on the collective experience of regulated market infrastructures and makes six recommendations in light of issues that continue to affect the crypto-currency industry following several high-profile controversies and collapses.

The WFE’s analysis also found that whilst Decentralised Finance might bring innovation to financial products, crypto-trading platforms (CTPs) are frequently not as decentralised as they first appear, which presents some risks. In the short term, the WFE recommends that CTPs disclose their regulatory status and do not describe themselves as exchanges until they are appropriately regulated and adhere to the standards set out in the report.