TradingTech Insight Brief
Baton Systems Adds OCC to Collateral Management Network
Post-trade fintech Baton Systems has expanded its Baton Core-Collateral network to include connectivity to the Options Clearing Corporation (OCC).
Baton’s Core-Collateral solution enables Clearing Members to automate and optimise their collateral management processes by providing intraday visibility of current margin obligations and collateral holdings at chosen CCPs. With the addition of OCC, clearing firms will be able to automate collateral management across 11 major CCPs globally, together comprising more than 93% of margin, placed by U.S. registered FCMs.
DTCC’s Project Ion Goes Live, Processing Over 100,000 Transactions Per Day on DLT
The Depository Trust & Clearing Corporation (DTCC), the market infrastructure provider, has gone live in a parallel production environment with the Project Ion platform, an alternative equities settlement platform that leverages distributed ledger technology (DLT). The platform is now parallel processing an average of over 100,000 bilateral equity transactions per day, and almost 160,000 transactions on peak days.
DTCC claims that Project Ion represents one of the largest DLT initiatives in equities settlement across the financial services industry. DTCC partnered with enterprise technology provider R3 to develop and launch the Project Ion platform, leveraging R3’s Corda DLT software.
Norges Bank Investment Management Completes First Trade on Appital Turquoise Book Builder
Appital, the equity capital markets technology solution, and Turquoise, the pan-European MTF majority owned by London Stock Exchange Group, have gone live with the Appital Turquoise BookBuilder, with Norges Bank Investment Management successfully originating and executing the first trade, through a series of bilateral transactions.
According to Appital, this is the world’s first algorithmic buy side to buy-side bookbuilding platform that enables institutional investors to proactively participate in liquidity discovery, price formation and execution opportunities in multiple days’ volume in listed equities. EMS vendors connected at the time of first trade included Flextrade, Factset’s Portware and TS Imagine.
Push Technology Adds Enhanced Monitoring Capabilities and New REST Adapter to Diffusion Cloud
Real-time data streaming and messaging solutions provider Push Technology has enhanced its Diffusion Cloud offering with the addition of a new REST adapter and improved data monitoring capabilities.
The new REST adapter enables development teams to transform existing APIs into streaming data feeds, without the need to re-architect backend systems. The monitoring improvements now makes it easier for Ops teams to understand how their Diffusion Cloud services are being used, identify anomalous behavior, and pro-actively respond to any potential issues before they impact end users.
Parameta and PeerNova Launch ClearConsensus for Independent Price Valuation
Parameta Solutions, the Data & Analytics division of TP ICAP Group, and PeerNova, a data analytics and management company, have partnered to launch ClearConsensus™, a transparent consensus network for Independent Price Valuation. The service aims to improve business resilience and regulatory response at global banks, by addressing the risk environments for price valuation and control groups.
ClearConsensus combines Parameta’s Evaluated Price (EvP) with PeerNova’s Cuneiform® technology platform to directly introduce observable transactions data via the EvP, while maintaining participant anonymity and data privacy. Real-time analytics help identify market trends to optimise capital allocation and mitigate risk.
Genesis Global Enhances Platform to Streamline Data Integration, Reporting and Full-stack Application Development
Genesis Global, the low-code application development platform purpose-built for financial markets, has announced a number of platform enhancements designed to it faster and easier for software developers to build new applications and enhance legacy systems.
The enhancements include a new low-code language for creating Genesis applications, streamlined data integration capabilities, a new reporting module, and Oracle database support.
Trading Technologies Launches Connectivity to NSE IFSC-SGX Connect for International Nifty Equity Derivatives Trading
Trading Technologies International, Inc. (TT), the global provider of trading software, infrastructure and data solutions has begun offering clients access to the popular Nifty equity derivatives through NSE IFSC-SGX Connect, a new joint initiative between Singapore Exchange and National Stock Exchange of India launched on July 29.
As one of the first technology providers to offer international market participants access to the NSE IFSC-SGX Connect, TT is giving global banks and other major financial institutions that use the TT® platform seamless access to Nifty equity derivatives alongside products from more than 50 other major international markets, including SGX Group.
QuantCube Launches Liquefied Natural Gas Commodity Trade Indicator
Alternative data specialist QuantCube Technology has launched a new QuantCube Liquefied Natural Gas (LNG) Commodity Trade Indicator, which aims to provide supply side commodity and energy futures traders with crucial insights at least one month in advance of official data, by tracking the import and export in volume of Liquefied Natural Gas.
Harnessing automatic identification system data to track the position of tanker ships in real time, the LNG Indicator is a significant addition to QuantCube’s suite of real-time international commodity trade indicators, which include Crude Oil, Iron Ore, and Coal.
Genesis Receives $20m in New Investments from Bank of America, BNY Mellon and Citi
Genesis Global, the low-code application development platform purpose-built for financial markets organizations, has followed its $200 million Series C funding announced in February with $20 million in new investments from Bank of America, BNY Mellon and Citi.
In 2021, Genesis tripled its revenue and the size of its team. Financial services firms use Genesis across the software value chain to automate spreadsheet processes, enhance existing systems, replace legacy technology and to build new, robust first-time applications.
Horizon Partners with Paris-Saclay University to Fund Financial Research
Horizon Software, the market making, agency trading and algo trading technology provider, funding a research project in partnership with the university of Paris-Saclay-Ecole Doctorale de Mathématiques Hadamard.
The study will focus on optimal execution, measurement, and control of liquidity risk, aiming to find a way to beat algo execution benchmarks. The three-year research project will be led by Yadh Hafsi and supervised by Horizon’s CTO, Olivier Masdebrieu, and two professors from Paris-Saclay, Vathana Ly Vath and Etienne Chevalier.