A-Team Insight Blogs

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 regional CRM devices and provide both regional and global views of risk across a trading organisation.

CRM-X provides management teams with a single view of risk across 90 equity markets globally, despite their disparate regulatory requirements, currencies and market structures, and will be extended to cover other asset classes, initially futures and options in the third or fourth quarter of this year.

Anthony Amicangioli, founder and CEO at HPR, says CRM-X hits the operational goal of providing brokers and trading organisations with a global, rather than regional, real-time risk management system. The solution can also provide benefits around capital management, allowing trading firms to move to a more global use of capital in a more contiguous manner, and also drill down to regional activity to apply capital across regions. Firms can also begin to look at global rather than regional portfolio analysis.

CRM-X also acts as a portal for data collection and delivery to the back-office, where the data can be used for activities such as clearing on a global rather than regional basis. The product’s first user is in this space, using CRM-X for pan-APAC clearing, planning to extend this use to Europe and probably further to provide global clearing.

Amicangioli says HPR occasionally comes across vendor competitors in the market, usually Nasdaq with its FTEN risk management and Smarts market surveillance platform, but other than that, competes with internally built solutions. It is here that the company often finds success, either through the attrition of solutions and the need for new technology, or at firms that fear they are falling behind in the technology race.

HPR’s high performance trading solutions, including CRM-X, CRM, Omnibot, a networking device that integrates direct market access, risk management, data delivery and latency in a multi-application switch, and Riskbot, an ultra-low latency market access and pre-trade risk management system, are provided as managed services powered by the company’s Unimus framework, a highly unified, service oriented architecture that underpins the technology stack.

Amicangioli notes increasing industry interest in moving towards a global trading grid that emulates the service-oriented architectures used by large cloud-native technology companies, and says CRM-X on the Unimus framework plays well into this move.

Established in June 2011, HPR set out as a general provider of low-latency connectivity, but has since moved away from a focus on latency to deliver what Amicangioli describes as a ‘latency capable infrastructure that is widely available’. He comments: “This means the land of haves and have nots should be democratised over time.”

Looking forward, Amicangioli says HPR will grow to deliver every element that makes up capital markets high performance trading infrastructure and will develop solutions in a timeframe to relieve clients’ pain points. On the list for potential development this year are super smart order routers (SORs), improved data delivery within trading infrastructure, and containers for algos that can be dropped into high performance trading.

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