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OpenFin Plans to Invest $17 Million Funding in Product Innovation, Geographical Expansion and Increased Headcount
OpenFin has secured $17 million in Series C funding, paving the way for further investment in its operating system for desktop app interoperability, geographical expansion and workforce. The funding was led by Wells Fargo Securities with other investors including Barclays Investment Bank and existing contributors such as Bain Capital Ventures, J.P. Morgan and Pivot Investment…
Mariana UFP Selects TORA’s Cloud-based OEMS for Pairs Trading
Mariana UFP, a global broker, has selected cloud-based OEMS provider TORA for pairs trading in London, New York and Melbourne. In order to trade security pairs in large sizes, Mariana needed access to a range of sophisticated algorithms to fit potential trading strategies, and a capable OEMS to manage multiple orders simultaneously. Mariana opted for…
Investment Association Names Five Firms Joining Velocity Innovation Hub
The Investment Association has named the second cohort of FinTech firms joining its Velocity innovation hub for the buy-side and asset management industry: AxeTrading, a fixed income EMS delivering toolkits for trading connectivity, bonds pricing and data aggregation; BlueFireAI, which unlocks Chinese capital markets to foreign institutional investors; CUBE, an enterprise-scale platform delivering regulatory intelligence…
McKay and Quincy Offer Low Latency Market Data Across New Jersey Equity Triangle
McKay Brothers and Quincy Data have connected the exchanges in the New Jersey Equity Triangle with what they say is the lowest latency in the market. The companies’ services link equity exchanges in Mahwah, Carteret and Secaucus, with the McKay network currently offering two-way market data and private bandwidth services between Mahwah and Carteret as…
OpenFin Offers Low-cost OS to Start-ups and Initiates Services Framework
OpenFin continues to build out its interoperable financial desktop with the offer of its Enterprise Edition OpenFin operating system at a ‘dramatically’ reduced rate for early stage fintechs and start-ups. The initiative is designed to allow emerging businesses to build applications on the OpenFin OS alongside larger players, accelerating innovation and collaboration, and delivering additional…
Bloomberg Plans to Withdraw SSEOMS and Exit the Equities OMS Market
Bloomberg is planning to withdraw its Sell-Side Execution and Order Management Solutions (SSEOMS) and pull out of the equities OMS market, although it will continue to focus on other customer priority areas in equity markets where it has strong offerings. The company has declined to provide details of its decision to quit the equities OMS…
FlexTrade Hires to Build Sell-Side OMS Strength in EMEA
FlexTrade, a provider of cross-asset execution and order management systems (EOMS), has appointed Lak Loi and Vahid Shirani as co-heads of sell-side OMS business development for the EMEA region. Both Loi and Shirani come to FlexTrade with more than 25 years of combined experience in equities and derivatives trading technology. Since 1997, Loi has worked…
HPR Reaches Goal of Delivering a Consolidated View of Real-Time Global Trading Risk with CRM-X
HPR – aka Hyannis Port Research – has reached the goal of a consolidated view of global trading risk across equities markets with CRM-X, the latest version of its Central Risk Manager (CRM), which supports a regional view of trading risk. CRM-X acts as a manager of managers and can be positioned anywhere to parent…
big xyt Extends Analytics Platform to Include TCA Functionality
Following consultation with clients, independent data analytics provider big xyt has added Transaction Cost Analysis (TCA) to its platform. The company’s aim is to apply analytics to create a consolidated view of a fully automated trading environment that traders can access to assess trends. big xyt solutions specialise in normalising and storing trade data. Using…
FlexTrade Partners Goldman Sachs to Provide IOI Liquidity Directly from the Trading Blotter
FlexTrade Systems has partnered Goldman Sachs to release an extension of the latter’s indications of interest (IOI) functionality in the FlexTRADER execution management system (EMS). The functionality adds IOI profiling and analysis to FlexIOI, a framework for IOI distribution embedded in the EMS and providing interaction with IOI liquidity directly from the trading blotter. Traders…