TradingTech Insight Brief
Peel Hunt Renews with ION Fidessa as Long-Term Partner to Grow its Equity Market Business
ION Markets, the global provider of trading, analytics, and risk management solutions for capital markets, has announced that broker and market maker Peel Hunt has selected ION as a long-term partner to grow its equity market making business in European markets, using ION’s Fidessa Trading Platform. Peel Hunt provides execution services across global markets, and began using the Fidessa Trading Platform nearly 20 years ago. As the firm enters its next phase of growth, ION remains its preferred partner, according to the firm.
Avelacom Launches JPX Connectivity Solutions
Avelacom, a low latency connectivity and infrastructure provider, has launched colocation and network services with Japan Exchange Group (JPX) and has become one of the exchange’s arrownet-Global Partner Network vendors. Avelacom has been increasing its presence in Tokyo over the past four years, by opening a branch office in Tokyo, operating points-of-presence (PoPs) in several data centres, and obtaining permission from the local telecommunications authority to provide telecommunications services in Japan. Customers both inside and outside of Japan can now directly access JPX’s exchanges and markets in cash equities, commodities, and derivatives via Avelacom’s connectivity solutions.
ION Links Up with Trumid for Credit Markets eTrading
Trading solutions vendor ION Markets has upgraded its connectivity to Trumid, an electronic bond trading platform, to support Trumid’s Attributed Trading, a disclosed dealer-to-client negotiation protocol, through the ION Credit solution. The upgrade, which builds on previous versions of Trumid supporting axe contribution and post-trade functionalities, now provides access to diverse market data sources, automation for axe and run management, and ION’s advanced pricing engine, which will overcome the complexity and fragmentation of credit markets and equip users to deliver fast, accurate service, according to the company.
FTX US Selects Eventus for Crypto Surveillance
US-regulated cryptocurrency exchange FTX US has selected Eventus Systems to conduct trade surveillance and risk monitoring on its cryptocurrency futures and options exchange and clearinghouse. FTX US Derivatives plans to leverage the alert coverage, trade practice investigation tools, and data tagging provided by Eventus’ Validus platform to monitor its listed derivatives market. In addition, FTX US Derivatives and FTX US plan to implement cross-market surveillance across multiple asset classes and order books, and utilise Validus’ machine learning-based noise-reduction tooling to enable compliance staff to focus on key information.
Bloomberg and Acadia Introduce Pre-Trade SIMM Calculations
Bloomberg and Acadia, specialists in risk management, have integrated Bloomberg’s Multi Asset Risk System (MARS) with Acadia’s IMEM (Initial Margin Exposure Manager) module. The integration will provide Standard Initial Margin Model (SIMM) pre-trade analytics, and will support Phase 6 of the Uncleared Margin Rule (UMR) obligations, part of the longstanding initial margin rule framework created by the Basel Committee and IOSCO. The addition of the pre-trade SIMM analytics expands Bloomberg’s existing post-trade integration with Acadia, which enables in-scope market participants to calculate initial margin for uncleared derivatives, and provides access to calculation of risk sensitivities through both Bloomberg and Acadia.
Quant Insight and Symphony Partner to Provide Macro Analytics Insights
Quantitative analytics vendor Quant Insight (Qi) has partnered with Symphony, the market infrastructure and technology platform, to offer macro-based insights to Symphony’s global financial community. Qi’s Retina (Real time Notifications and Alerts) will sit on the Symphony platform and push macro-based insights into Symphony chat rooms in real time. With Retina, Symphony users will be alerted to macro-based valuation anomalies, shifts in key macro drivers and changes in underlying trends covering 6,000 market instruments including indices, sectors, stocks, FX, rates, futures, commodities, and cryptocurrencies. Retina makes extensive use of machine learning technology, and the Qi team includes experienced former portfolio managers from Brevan Howard, Millennium, BlueCrest, Credit Suisse, Morgan Stanley, Fidelity, and others.
FactSet Adds Fixed Income Trading Capabilities to Portware
FactSet, the global provider of financial information and analytical applications, has launched a suite of fixed income trading capabilities for Portware, its execution management system (EMS) best known for electronic trading and automation in listed assets and FX. With the introduction of fixed income trading, Portware now enables clients to trade more efficiently across more asset classes. In addition to connecting to established trading venues, FactSet is integrating with several data providers and trading destinations to display pre-trade analytics related to pricing and liquidity, as well as sourcing content from FactSet’s own fixed income data and analytics libraries. Further investment and integrations are planned to aggregate additional liquidity sources for FactSet’s trading clients. The new capabilities were built in collaboration with FactSet’s client GIC, to support GIC’s global trading desks.
ED&F Man Deploys TS Imagine for Risk and Margin Management
ED&F Man Capital Markets has deployed TS Imagine’s real-time risk, compliance and margin platform, to manage initial and variation margin risk for SPAN and VaR based methodologies across its futures and options trading and clearing business, replacing its legacy systems with TS Imagine’s fully-hosted, SaaS solution for high-volume, real-time analytics on cross-asset exchange-based and OTC trading. The platform is now live, and since deploying the platform, which displays risk, profit/loss and margin analytics side-by-side, ED&F Man has already seen improvements to data management, aggregation and reporting capabilities, according to the company. TS Imagine was formed earlier this year with the merger of TradingScreen and Imagine Software.
BMLL Launches Level 3 Futures Data Service
Data and analytics vendor BMLL has expanded its Level 3 data set with full-depth order book data from CME, Eurex and ICE. The service covers all major futures asset classes, including equities, fixed income, short-term interest rates, commodities, cryptocurrencies and FX. The new data sets will provide clients with the ability to do complex, Level 3 Data analysis at scale across venues and markets, according to the company. With the harmonised data and the BMLL Data Lab, clients can look at multiple years of trading history on CME, Eurex and ICE in a consistent format, to enable rapid testing of trading strategies.
Avelacom Broadens Partnership with Singapore Exchange and Reduces Latencies
Low-latency connectivity and infrastructure provider Avelacom has broadened its partnership with Singapore Exchange (SGX), adding a colocation capability. Avelacom’s new server rack will be situated next to SGX’s core matching engine, providing round-trip network latency of less than 20 microseconds, which Avelacom claims is the fastest in the market. Avelacom has partnered with SGX since 2016. With its new colocation services, the company will provide enhanced infrastructure capabilities for trading on SGX, split into single-unit offerings to create a simple starting point for investors who are new to the Singapore markets.