TradingTech Insight Brief
QUODD Unveils Enhanced Market Data Platform Post-Xignite Acquisition
QUODD, a provider of on-demand market data, has reintroduced its market data platform and API marketplace, integrating assets from its acquisition of Xignite in February 2023. QUODD’s two primary product sets, QX Digital Platform and QX Data, are powered by QX Technology, a modern cloud-based infrastructure and toolkit for the automation, control, and consumption of all types of financial market data information.
QX Digital Platform, QUODD’s flagship institution-facing market data platform, connects workflows from back to front office with mission-critical functionality. QX Data now offers the QX Marketplace for advanced tech buyers seeking programmatic access to QUODD’s cloud-based, integrated suite of market data APIs.
Pico Launches Next-Gen Corvil Analytics Appliances for Enhanced Financial Market Performance
Pico has unveiled its Next-Gen Corvil Analytics Appliances, powered by Intel’s latest 4th Gen Xeon scalable processors, designed to provide analytics for 40/100Gbps networks. The new appliances offer sustained 30Gbps packet capture, with Intel Quick Assist Technology (QAT) used to optimise capture data compression at speeds up to 100Gbps.
According to the company, the NVMe SSD drives used in the appliances create a significant improvement in storage technology, offering faster speeds, reduced latency, and increased efficiency for data storage and retrieval. Pico claims that the appliances can generate up to a 62% reduction in price-to-performance ratio.
Exegy and BMLL Technologies Team Up for Historical Data and Analytics
Front-office trading solutions provider Exegy has formed a strategic partnership with BMLL Technologies, the independent provider of harmonised Level 3 historical data and analytics. The collaboration enables clients to use BMLL’s granular, historical data to fine-tune algos and to derive alpha through Exegy’s back-testing and simulation solutions.
The partnership aims to free up much of the time that quants spend on data analysis, allowing them to focus more of their time on algo development. This is expected to be especially beneficial for firms keen on quick strategy testing and implementation.
ExeQution Analytics Launches to Offer Customised Trading Analytics Solutions
ExeQution Analytics, a new trading analytics company, has officially launched with customised analytics solutions for both buy-side and sell-side firms. These services aim to reduce implicit costs for buy-side firms and help sell-side firms refine trading strategies. Founded by Kdb expert Cat Turley, the company has established offices in Sydney and Hong Kong with foundation clients including a sovereign wealth fund and a Hong Kong trading bank.
The ExeQution Analytics Framework integrates with client data to create bespoke analytics and visualisations. It is compatible with existing tick capture systems and technology stacks, and operates across Windows, Mac, and Linux using a range of programming languages. The company has deployed solutions in various sectors including prop trading, asset management, and broking.
Broadridge Financial Solutions Introduces Automated Reconciliation Platform, BRx Match
Broadridge Financial Solutions has launched BRx Match, a cloud-based platform for reconciliation and data matching. Aimed at both business and operational users, the platform aims to simplify the reconciliation process from start to finish by offering an automated, transparent, and efficient approach to handle a wide range of reconciliations across sectors like securities, cash, and insurance, reducing both risk and overall costs.
BRx Match is designed to provide a consolidated solution for all reconciliation needs across an enterprise. It comes with various matching engines and allows users to design and deploy their own reconciliation methods. Existing Broadridge clients will receive the new user interface and features as part of their ongoing service, with an option for a new self-service capability.
Bloomberg Launches Alternative Data Function, ALTD < GO >
Bloomberg has introduced a new alternative data function, ALTD <GO>, offering customers an early read on company performance, side-by-side with traditional fundamental data on the Bloomberg Terminal. Through ALTD <GO>, users can incorporate consumer transaction data analytics, location analytics and other types of alternative data into their research workflows.
The flagship data analytics source for ALTD <GO> is Bloomberg Second Measure, which uses aggregated analytics from billions of credit card and debit card purchases to provide near real-time consumer transaction insights on over 300 public tickers. ALTD <GO> also includes location analytics data from Placer.ai, which analyses foot traffic data from tens of millions of mobile devices, applying machine learning and AI algorithms to make estimations on visits to retail locations across the US.
Truphone Rebrands as 1Global
Mobile network operator Truphone has announced that it is changing its company name and embarking on a rebranding journey. Henceforth, the company will be named 1GLOBAL.
In a letter to customers, the company described the essence of its new identity stemming from the fact that it is one global Telco, operating on one unified network, with one central eSIM hub and one global compliance solution, all operating on one SIM card with the capacity to bear multiple numbers.
Eventus Rolls Out Next-Generation User Interface
Trade surveillance software provider Eventus has launched the next-generation UI for its Validus platform, which the company states will provide a more streamlined, efficient user experience with comprehensive new case-building features and greater transparency.
The new UI offers centralised compliance management across all asset classes and includes an enhanced dashboard layer and easy-to-use investigation tools for faster surveillance insights, along with state-of-the-art data visualisation tools. Enhanced workflow and investigation tools are designed to accelerate alert resolution.
Aquis to Remove Ban on Aggressive Non-client Proprietary Trading
Pan-European equities market operator Aquis Exchange has announced that it is to change the proprietary trading rule for its UK and EU trading platforms, lifting the restriction on aggressive non-client proprietary trading that was introduced in 2015.. The change is due to come into effect in October 2023.
In response to member demand, Aquis is changing the rule to allow liquidity providers the option to choose if they wish to interact with aggressive non-client proprietary trading or not.
CJC and Calero Strengthen Partnership to Enhance Technology Expense Management Solutions
Market data technology consultancy CJC has strengthened its collaboration with Calero, a global provider of technology expense management solutions. The enhanced partnership follows several mutual clients making use of CJC’s vendor-neutral expertise for consulting and integrating with Calero’s Market Data Management (MDM) solution. Services involved include data discovery, licensing management, telecom expense management, and cloud-based connectivity to third parties.
The expanded relationship has led to greater client uptake of Calero’s Index License Management (ILM) and Telecom Expense Management (TEM) products, utilising CJC’s consulting expertise to optimise these solutions.