TradingTech Insight Brief
ISDA Selects Bloomberg for Fallback Adjustments
The International Swaps and Derivatives Association has selected Bloomberg Index Services to calculate and publish adjustments related to fallbacks that ISDA intends to implement for certain interest rate benchmarks in its 2006 ISDA Definitions. The adjustments reflect the fact that interbank offered rates (IBORs) are available in multiple tenors, while risk-free rates (RFRs) identified as fallbacks are overnight rates. The IBORs also incorporate a bank credit risk premium, while RFRs do not. The adjustments will be published after methodologies based on industry consultation are finalised. ISDA expects the fallbacks to take effect in early 2020.
Moody’s Acquires Climate Data Specialist
Moody’s Corporation has acquired a majority stake in Berkeley, CA-based Four Twenty Seven, a provider of provider of data, intelligence, and analysis related to physical climate risks, as part of its wider strategy to develop transparent and consistent standards for evaluating ESG risk. The new acquisition will operate under its existing brand as an affiliate of Moody’s Investors Service. The deal follows Moody’s recent acquisition of Vigeo Eiris, a provider of ESG research, data, and assessments.
FIX Trading Community expands into Post-Trade Processing
Trading industry standards body FIX Trading Community has announced the launch of a newset of message types to further support periodic future payment management in the post-tradespace. The introduction of a new set of FIX standard messages will allow firms to send and receive details relating to expected periodic payments, a process which is done prior to any physical cash movement or remittance instructions.
FlexTrade Certifies with IHS Markit thinkFolio
FlexTrade, a global provider of cross-asset execution and order management systems, has extended the integration of FlexTRADER, its broker-neutral execution management system, with IHS Markit’s cross-asset investment management platform, thinkFolio. The combination of execution and order management system space expertise will provide improved global cross-asset trading capabilities across the trading lifecycle. “A certified interface between thinkFolio and FlexTRADER creates the best of both worlds for us at Barings, by giving us the ability to trade in a seamless manner,” said Louisa Paul, Head of Equity Dealing at Baring Asset Management.
BGC Partners Launches New Electronic Trading Platform
BGC Partners has launched Fenics Global Options (Fenics GO) a new electronic trading and market data generation platform involving the arrangement and execution of exchange listed futures and options. Fenics GO, in collaboration with liquidity providers Optiver, IMC and Maven Securities, provides Eurex listed Euro Stoxx 50 Index Options and related Delta 1 strategies allowing global traders to access liquidity electronically and anonymously, whilst being integrated into the Eurex workflow to enable efficient front to back processing of cleared trades.
Infini Capital Management Selects TORA OEMS for Multi-Asset Pairs Trading
Hong Kong-based multi-strategy hedge fund Infini Capital Management has selected TORA for its pairs trading solution. The firm chose the TORA cloud-based order and execution management system (OEMS) on the basis of its configurable functionality and on-the-ground support for fund trading activities. The functionality of TORA’s multi-asset, multi-region and broker-neutral pairs application was another deciding factor. The pairs trading application provides a high degree of control over execution via a series of parameters such as slicing and concurrency. There is also full support for bulk uploads and capacity to trade thousands of pairs concurrently.
TradingScreen Certifies Integration with IHS Markit thinkFolio
TradingScreen, provider of an all-asset class order and execution management system (OEMS), has announced a certified integration with IHS Markit’s investment management platform thinkFolio. The integration ensures that mutual clients benefit from a standardised and certified interface between the two platforms, which will provide scalability and reduce costs. The certification offers thinkFolio clients access to TradingScreen’s software-as-a-service EMS functionality. IHS Markit says the partnership is part of its strategy to extend thinkFolio and deliver a scalable, comprehensive and flexible investment management platform for its clients.
Woodseer Global and ULTUMUS Team Up to Deliver ETF Dividend Forecast Product
Woodseer Global, a London-based dividend forecast data specialist and ULTUMUS, a provider of data services for index and ETF data, have released a joint ETF Dividend Forecast product. Across investment banks, asset managers and fund service sectors there has traditionally been a limited choice of sources for ETF dividend forecast data, with either limited coverage or variable accuracy. Recognising market need for wider coverage and improved accuracy, ULTUMUS and Woodseer have combined ULTUMUS’ ETF compositional data with Woodseer’s dividend forecast data for relevant underlying securities. This generates accurate, bottom-up forecasts with both amounts and dates for over 1,400 ETFs.
Redline Trading Extends RedlineFeed Market Data to Cloud Solutions
Redline Trading Solutions, a provider of high-performance market data and order execution systems for automated trading, has announced availability of RedlineFeed for access to real-time and delayed exchange market data for customer solutions deployed in the cloud. The initial release includes support for US equities top-of-book streams at Amazon Web Services (AWS) data centres. RedlineFeed’s cloud infrastructure is designed for systems that need reliable, high quality market data to feed mission critical deployments. RedlineFeed in the cloud provides both real time and 15 minute delayed versions of the feed as well as historical data going back more than five years.
3di Releases Profiler Version 6 with Enriched Catalogue of Alt Data Vendors
3d innovations (3di) has launched version 6 of its vendor analysis tool Profiler, a web-based tool that provides comparative and benchmarking information on market and reference data services, and associated technologies. Version 6 provides an enriched catalogue of alternative data vendors covering multiple industries beyond financial services and delivering unique datasets from non-traditional sources that give traders, asset and wealth managers, and brokers a potential investment edge. 3di developed version 6 in response to client need to derive new insights and expects to cover up to 1,000 alternative data vendors by 2020.