CQG Launches New Suite of Execution Technologies

Chicago-based trading solutions vendor CQG has launched a new suite of execution technologies designed to give market participants new tools to achieve greater efficiencies and optimal trade execution, particularly for large or complex order types. The new suite builds upon software assets CQG acquired from Blue Trading Systems in June 2020, and leverages CQG’s internally-developed technology aimed at providing smart trade execution opportunities for buy-side and sell-side firms.

Kevin Darby, formerly co-founder of BTS who joined CQG last year to lead the integration of the software, is now leading CQG’s new Execution Technologies business unit.

The offering is available through multiple platforms, including CQG Integrated Client, CQG Desktop and various CQG-supported application programming interfaces (APIs).

TNS Strengthens Backbone for European Equities Exchanges

TNS, the financial markets infrastructure provider, has invested in strengthening its European backbone and data solutions, offering ultra-low latency TNS Layer 1 in-datacentre architecture, and expanded market data from all major European equities exchanges.

The company has also added Wiener Boerse AG, which operates the stock exchanges in Vienna and Prague, to its market data portfolio, and is now working with Deutsche Börse to provide access to Eurex and Xetra market data for non-member firms. The additions complement TNS’ existing European equities data portfolio, which includes Cboe Europe, Euronext, Aquis, LSE and SIX Swiss, among others.

MayStreet Adds High Performance Query API to Market Data Lake

New York-based market data technology vendor MayStreet has launched a High Performance Query (HPQ) API to its Market Data Lake, a cloud-based repository of global, cross-asset exchange data, to complement its existing APIs and web-based Analytics Workbench.

The HPQ API enables clients to instantly stream near real-time and historical full-depth data at distinct time intervals of their choosing, without having to pull down an entire day’s worth of market data. In addition to raw tick data, the new API also offers pre-configured calculations for TWAP, VWAP or Completion Time.

The HPQ API is designed to support a number of use cases, including TCA, order routing analysis, volatility fitting, trade desk support and risk. Future enhancements to the API will be introduced starting in Q1 2022.

QuantCube Launches Crude Oil Risk Sentiment Indicator

Alternative data specialist QuantCube Technology has launched the QuantCube Crude Oil Risk Sentiment Indicator, which uses natural language processing (NLP) in Arabic and English to accurately capture short-term market risk and predict price movements. By using Arabic social media data, information available on crude oil is increased more than five-fold, creating the most comprehensive crude oil sentiment indicator in the market, according to the company. The Indicator processes multiple factors impacting crude oil prices in real time, including OPEC meetings, production and stocks. As a result, Quantcube claims it can provide insights several hours in advance of traditional news outlets, giving commodity traders and hedge funds an edge in the market.

Archax Completes First Fundraising Round for Subsidiary Montis Digital

Archax, the UK regulated and registered digital securities exchange, broker and custodian, working with DLA Piper, has completed the first fundraise on its Primary Issuance Platform, an oversubscribed round of $1.5 million for its recently announced Montis Digital subsidiary, which is building blockchain-based market infrastructure for the post-trade ecosystem.

Participants in the raise were onboarded through the Archax website portal, with holdings maintained and recorded in the Archax regulated custody service, ready for future digital token issuance. The DLA Piper regulatory compliance platform was also used to automate the applicable regulatory requirements and to create the required legal documents for participating in a digital issuance. Also party to the raise was US broker/dealer GB Capital Markets, acting as placement agent for US investor participants.

SmartStream Adds Intelligent Exceptions Management Design to SmartStream Air

Financial solutions provider SmartStream Technologies has launched a new intelligent exceptions management design for its cloud-native AI-powered SmartStream Air solution. The enhancement, which follows the release of TLM Aurora Universal Data Control earlier this year, is designed to further simplify the typically complex and manual exceptions management process for data reconciliations. The new design aims to reduce manual touchpoints around identification, prioritisation, allocation and audit, and to provide real-time and dynamic business insights and analytics, for more effective management of risk and greater operational insight.

ION Commodities’ Openlink Replaces 30+ Legacy Systems at Constellation

ION Commodities, a global provider of commodities trading and risk management solutions, has implemented its Openlink CTRM solution at Constellation, a US provider of clean energy solutions. Openlink will manage Constellation’s end-to-end wholesale energy operations, replacing over 30 legacy systems, and will serve as a single source of truth and system of record. The ‘Wholesale Transformation Program’ project enables Constellation to manage its global commodity business through a single CTRM, covering trading and risk management operations for power, natural gas, emissions, renewable energy credits, and other fuels It is expected to save Constellation thousands of hours on manual processes and data reconciliation, and to provide a simplified technology infrastructure, delivering improved operational processes, increased automation, consolidated risk management across business lines, and a scalable solution that supports business growth.

Council of Europe Development Bank Implements Bloomberg MARS Front Office

The Council of Europe Development Bank (CEB) has adopted its Bloomberg’s Multi-Asset Risk System, MARS Front Office, to enable the bank to assess the impact of trading activity on the risk profile of its books.

MARS Front Office will provide the CEB with consolidated pricing and risk analytics, including pre-trade and daily post-trade valuations, Greeks and scenario analysis. The bank will also use Bloomberg’s new ‘PnL Explain’ reports, which show fluctuations in market value and the contributions of the various underlying market factors.

The CEB is a long-standing customer of Bloomberg and also uses BVAL Derivatives, a pricing service that provides independent valuation for derivatives, and MARS XVA for counterparty risk management.

BSO Partners with EllaLink to Develop Financial Markets Between Europe and Latin America

Infrastructure & connectivity provider BSO has partnered with EllaLink, the express optical platform between Europe and Latin America, to put in place the necessary ultra-low latency connectivity and infrastructure to enable trading firms from around the world to access B3 and other Latin American markets.

To date, European and Asian firms wanting to trade the Brazilian markets have had to transit through the US. EllaLink’s reduced cross-Atlantic latencies between Europe and Brazil are expected to make previously uneconomic trading strategies more viable.

MarketFactory Partners with Tradefeedr

MarketFactory, part of ION Markets, has established a strategic partnership with Tradefeedr, the independent FX data and analytics provider, to broaden access to trading information for clients of both companies.

By integrating the two platforms, the partnership aims to deliver a seamless trading experience and to enhance transparency and trust levels across the FX market by enabling clients to review their trading markouts, impacts, and spreads directly with liquidity providers, using a common platform and shared data sets. Tradefeedr’s data analytics solution will be available as an add-on to new and existing customers using the MarketFactory service.