TradingTech Insight Brief
FIX Trading Community Calls for Industry Participants to Join New Working Groups
FIX is inviting industry participants to join a number of new working groups that will operate under the FIX Trading Community umbrella.
The working groups include a repo working group covering how to automate the lifecycle of repos using FIX and an RMB products group to propose enhancements to the FIX Protocol for RMB product related workflows. A securities lending group will develop messages to support automated processing of securities lending and an SFTR group will help firms meet the challenges of Securities Financing Transactions Regulation (SFTR), including reporting obligations that are expected to come into play in late 2019 or early 2020.
If you would like to join any of these working groups contact the FIX Program Office – fix@fixtrading.org.
Dash Financial Technologies Acquires eRoom Securities
Capital markets technology and execution provider Dash Financial Technologies has signed an agreement to acquire Chicago-based eRoom Securities.
The eRoom platform, which provides multi-asset trading technology, agency execution, risk management, reporting and clearing services to professional traders, institutions and hedge funds, will be rebranded as Dash Prime.
As the Dash Prime project gets underway, eRoom leadership will continue to be headed by Collin Carrico and Ben Schwartz.
“Joining forces with Dash puts us at the leading edge of technology and enables us to broaden our prime services suite to create more opportunities for our current and future clients,” says Carrico.
The transaction is expected to close in Q1 2019, contingent upon standard closing conditions including regulatory approvals.
big xyt adds MiFID II Liquidity Dashboards to Liquidity Cockpit
big xyt has added dashboards to its Liquidity Cockpit that are designed to support discovery of high-quality liquidity within the MiFID II landscape. Users can view and compare reported systematic internaliser (SI) volumes, which can then be filtered by adjusted conditions or analysed by time, region or symbol. This facilitates comparisons with other market activity such as Large-in-Scale (LIS) trades and the impact of Double Volume Caps (DVCs) on liquidity dispersion over time.
Moscow Exchange Partners Integral
Moscow Exchange (MOEX) and FX specialist Integral have partnered to provide exchange customers with access to better liquidity, higher performance and lower latency. The improvements are based on the use of Integral’s Open Currency Exchange (OCX) and also include better pricing, lower risk and faster acknowledgement. On its part, MOEX will provide liquidity to the Integral network.
Altair Acquires Datawatch
Simulation technologies provider Altair has acquired data intelligence specialist Datawatch – along with its Panopticon visualization platform – for $176 million in cash. The move is aimed at bolstering Altair’s offerings in the generic data science and analytics segment, where Datawatch has strong offerings in data prep, data prediction, and real-time high-volume data visualisation. For capital markets users, Datawatch is probably best known for its Panopticon suite of visualisation tools. Datawatch acquired Panopticon Software in August 2013, and recently made Panopticon Streams widely available to Datawatch clients.
RavenPack and CloudQuant Team Up
Machine-readable news platform provider RavenPack has granted access to its historical data to crowd researchers seeking alpha signals on CloudQuant’s online Python and JupyterLab-based tools. The initiative aims to support data scientists designing tools to improve financial modelling.
Abacus Group Acquires Hedgepoint Solutions
Abacus Group, a provider of hosting services for the hedge fund marketplace, has acquired Hedgepoint Solutions, a New York-based IT consulting firm that targets hedge funds, venture capital and private equity firms. As a result, Hedgepoint clients will benefit from the wide variety of features included in the Abacus Cloud platform, such as off-site data centres and a flexible, secure cloud.
TORA Teams with NEX for MiFID II Trade/Transaction Reporting
TORA has partnered with NEX Regulatory Reporting to add MiFID II trade and transaction reporting capability to its cloud-based order and execution management system (OEMS). NEX operates an Approved Reporting Mechanism (ARM) and Approved Publication Arrangement (APA) under MiFID II. The initiative, which provides buy-side firms with a straight-through-processing solution that reduces the operational demands of the regulation, follows last December’s launch of an artificial intelligence (AI)-driven pre-trade transaction cost analysis (TCA) solution to help firms meet their MiFID II best execution requirements.
High Performance and Transparency in Europe’s Exchange Sector
The autumn season of 2010 holds the promise of extreme exchange action in the European arena as all of the major incumbent exchanges proceed with major investments in their matching engine, data centre and connectivity infrastructures. Clearly, this has all come in response to the arrival of a glut of multilateral trading facilities (MTFs) since the launch of the most successful of them – Chi-X Europe – back in mid-2007.
Survey Finds 100% Awareness of STP Between Banks, Corporates
One hundred percent of the 58 financial technology managers surveyed across 22 international banks said their corporate clients were aware of the STP rate between their back office and the bank, and that over half of them were actively working to improve this rate, in a recent poll taken by software house Fundtech. The interest in outsourcing has grown with 55 percent of respondents saying their institution is more interested this year than last. And 69 percent said their IT budgets would grow in 2005.