TradingTech Insight Brief
London Stock Exchange’s Data Centre Migration Boosts Market Quality and Efficiency
The London Stock Exchange Group (LSEG) has reported substantial improvements in market quality and performance following its data centre migration and upgrade in February this year. The data centre, which caters to the London Stock Exchange, Turquoise, and TRADEcho services, is not only more innovative and robust but also eco-friendly, powered entirely by green energy.
The upgrade led to a 50% reduction in average round-trip latency for equities and a 66% reduction for ETFs, leading to swifter, more predictable order confirmations. The London Stock Exchange’s role as a price-former in UK Equities has also been enhanced, with a 9% increase in FTSE 100 EBBO settings and a 5% increase in the FTSE 100 EBBO Size Contribution.
SIX Integrates with FlexTrade’s Spark EMS to Provide Real-Time Global Market Data
SIX, the worldwide financial data provider, and FlexTrade Systems, the multi-asset execution and order management systems vendor, have integrated real-time global market pricing and reference data from SIX into the Spark cloud-based Execution Management System (EMS). This collaboration enables traders utilising Spark EMS to stream real-time global market data across multiple platforms, including desktop, browser, and API.
The new service using the SIX API, in conjunction with FlexTrade’s cloud-based EMS, delivers an off-the-shelf trading solution that aims to expedite time-to-market for new fund launches. The newly integrated service is now ready for client deployment.
VECTALIS Acquires BrokerHub, Bolstering Its Equity Derivatives Front-to-Back Solution
OTC equity derivatives workflow vendor VECTALIS has announced its acquisition of BrokerHub, a fellow financial technology company. By unifying their forces after years of competition, the two firms aim to provide crucial services to market participants, encompassing price dissemination from interdealer brokers to investment banks, block trade reporting to multiple exchanges, and the generation and reconciliation of confirmation tickets and broker fees, respectively.
This amalgamation of services promises to provide a comprehensive platform covering the front-to-back office for inter-dealer brokers and investment banks running equity derivatives desks, aiming to offer improved and more efficient workflows for clients.
Arqaam Capital Partners with Horizon Software for Advanced Electronic Market Making Solutions
Arqaam Capital, a UAE-based financial services broker, has established a partnership with electronic trading and algorithmic technology provider Horizon Software, under which Horizon’s Electronic Market Making solutions will be utilised for Arqaam Capital’s newly established market making desk. Arqaam will leverage Horizon’s existing connectivity to the ADX and DFM exchanges in UAE to conduct market making on stocks, derivatives, and ETFs in the Middle East region.
The partnership is intended to solidify Arqaam Capital’s position as a leading market maker and liquidity provider. It will also aid in the diversification of Arqaam’s revenue streams, enhancement of electronic trading products, and the delivery of high-quality services to clients.
Boubyan Bank Adopts Murex’s MX.3 for Sharia-Compliant Treasury Operations via MXGO
Boubyan Bank, a prominent Islamic financial institution based in Kuwait, is adopting Murex’s MX.3 for Islamic Finance to facilitate its Sharia-compliant treasury operations using MXGO, a customisable treasury and trading solution, designed by Murex, that caters to rapidly expanding local banks. MXGO can be delivered on-premises, on the cloud or as a fully managed SaaS solution, with the capacity to expedite delivery and reduce the total cost of ownership.
The MX.3 platform will provide a front-to-back-to-risk solution to expedite the delivery of new products to clients, including FX spot, forward Waad, FX swap, profit rate swaps, cross currency swaps and sukuks. The scope also includes collateral management, value at risk, accounting and hedge accounting.
Glue42 and BNY Mellon Co-Develop Tech Solution to Automate Financial Operations
Interoperability solution provider Glue42 has announced its involvement in BNY Mellon’s award-winning “Operations-to-Operations” project, which was jointly developed by the two companies and aims to streamline communications between BNY Mellon and its clients.
The joint solution, which delivers a trading-desk-like user experience to middle and back office operations, leverages Glue42’s certified FDC3 (Financial Desktop Connectivity and Collaboration Consortium) Desktop Agent. The platform automates processes, freeing staff to focus on higher-impact work. BNY Mellon’s use of Glue42’s zero-install browser platform will accelerate the roll-out of the solution, eliminating the need for software deployment on client machines.
BNP Paribas and Bloomberg AIM Partnership Bolsters Post-Trade Workflows
BNP Paribas’ Securities Services and Bloomberg have announced an integration that couples BNP Paribas’ multi-asset servicing capabilities with the Bloomberg AIM buy-side order management system. The integration is designed to enhance post-trade workflows for mutual clients, streamline front-to-back processes and standardise data connectivity for efficient trade management.
The collaboration forms part of BNP Paribas’ Open Front Office strategy, aimed at developing integrations with leading portfolio management systems to enhance the client experience.
Parameta Solutions Partners with ZE PowerGroup to Boost Energy and Commodities Pricing Analytics
Parameta Solutions, TP ICAP’s Data & Analytics division, has partnered with ZE PowerGroup to make its OTC data available via ZE PowerGroup’s data management and analytics platform. This collaboration will offer market participants robust risk and pricing solutions for energy and commodities by combining ZE PowerGroup’s platform for advanced analytics and data visualisation with Parameta’s OTC data, providing an tool for firms to better comprehend market trends, identify pricing opportunities, automate pricing processes, and mitigate human error risk.
The partnership aims to allow customers to extract maximum value from independent energy pricing data that accurately reflects OTC market conditions. This is particularly relevant given the increased need for energy and commodity trading firms to manage their counterparty credit risk in the OTC market.
ONE ZERO Digital Bank Selects ViewTrade for New Securities Trading Platform
Technology and brokerage service provider ViewTrade has been chosen by Israel’s ONE ZERO Digital Bank to serve as the broker and technology partner for its new securities trading platform. The partnership will provide Israeli investors with seamless access to US markets, enabling trading in a broad range of equities and exchange-traded funds listed on the New York Stock Exchange and NASDAQ. ONE ZERO’s customers can utilise either foreign currency or shekel accounts for their transactions.
The new trading platform will utilise ViewTrade’s API and FIX connection, integrated into ONE ZERO’s signature app, which previously only offered banking services. This platform will facilitate independent trading on US stock exchanges and allow clients to consolidate their financial activities through a single provider. Additionally, the bank will deliver real-time AI-generated insights and updates about investors’ portfolios.
TS Imagine Unveils Next-Generation Features for TradeSmart Fixed Income EMS
Trading, portfolio, and risk management solutions vendor TS Imagine, has released several new features for its TradeSmart Fixed Income Execution Management System (EMS), designed to streamline workflow for traders in the global bond market.
The new features, which automate various aspects of the fixed income trade lifecycle, include a liquidity snapshot tool for regulatory compliance, a liquidity aggregator for a real-time view of all available liquidity, a best dealer algorithm for automating dealer selection, order tracking across products to reduce operational risk, and the TradeSmart parser for efficient data compilation across many bonds from email delivery. The advancements aim to empower users to better control their workflow and enhance their trading day experience.