TradingTech Insight Brief
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.
Avelacom Sets up Point-of-Presence in Tel Aviv Stock Exchange’s Primary Data Centre
Avelacom, the low latency connectivity, IT infrastructure and data solutions provider, has increased its presence in Israel by partnering with the Tel Aviv Stock Exchange (TASE) and setting up a new point-of-presence (PoP) in TASE’s primary data center.
The new PoP enables Avelacom’s clients to connect to the TASE systems at low latency, and will offer connectivity, colocation and Hardware-as-a-Service (HaaS) solutions.
DTCC Launches New LIBOR Benchmark Replacement Index Solution
The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services, has launched its new LIBOR Benchmark Replacement Index solution to support the industry’s transition from LIBOR benchmark rates to Secured Overnight Financing Rate Data (SOFR) and other new fallback rate indices.
Market participants will be able to access the solution through DTCC’s Legal Notice System (LENS) and view information for over 100,000 debt securities whose rate is currently based on USD LIBOR.
Parameta Solutions Partners with Numerix to Deliver OTC Valuations
Parameta Solutions, the provider of OTC indicative and trade data, is partnering with Numerix, the global OTC analytics and derivatives pricing company, to develop automated, independent, fair valuations of OTC derivatives to market participants.
By bringing together Parameta’s OTC data alongside Numerix’s analytical capabilities, the partnership aims to provide a more effective way of valuing OTC derivatives. The collaboration follows the Bank for International Settlements recent data showing that the notional value of outstanding OTC derivatives rose to a record high of $632 billion last year.
CQG and Broadridge Collaborate to Integrate OMS and EMS Technologies
CQG, the financial markets technology solutions provider, has entered into a strategic partnership with Broadridge Financial Solutions, to integrate the two companies’ Execution Management System (EMS) and Order Management System (OMS) respectively.
The combination of CQG’s front-end trading technology with Broadridge’s Order Management System and the NYFIX network will provide an ‘out-of-the-box’ solution for institutional customers who wish to take advantage of a combined front-, middle- and back-office technology suite.
Volksbank Wien Completes SaaS ‘Lift-and-Shift’ Project with Murex
Volksbank Wien, the central entity of an association of Austrian banks, and Murex, the trading and risk solutions vendor, have completed the migration of Murex’s MX.3 from bank premises into a private cloud hosting environment. The ‘lift-and-shift’ project also included an upgrade to the latest MX.3 release.
In a nine-month project, Murex transferred the full MX.3 environment, including the database, customisations and interfaces, into the cloud hosting Murex SaaS, a move increasingly adopted by diverse clients to reduce their total cost of ownership, achieve quicker time to market, rationalize IT infrastructure and focus on their core business.
SMBC Nikko Securities Adopts smartTrade LiquidityFX
SMBC Nikko Securities has adopted LiquidityFX, the fully hosted and managed FX platform from smartTrade, the multi-asset electronic trading platform provider, to enhance its FX trading activities in Japan. The firm was looking for a digital platform with sophisticated workflows – which enable the streamlining of trading processes using APIs – to achieve operational and cost efficiencies.
LiquidityFX – an end-to-end solution with connectivity to over 130 liquidity providers – was selected. The platform enables aggregation, smart execution, risk management, order management, analytics, payments and multi-channel distribution, supporting a range of instruments including FX spot, forwards, swaps, NDFs and options.