TradingTech Insight Briefs
Seed CX Selects Corvil to Support Service Performance
Digital asset exchange Seed CX has selected Corvil to deliver trusted and timely intelligence to assure the performance of its platform. Built for institutional investors, Seed CX’s execution and settlement ecosystem seeks to establish a new standard for reliability and performance. Corvil provides visibility across the company’s client access options and proprietary binary protocol. This allows support teams to understand technology infrastructure and trading behaviour as it happens, simplifying the process of responding to order related client queries. The ability to analyse and tune infrastructure performance means Corvil can enable more efficient, effective and proactive operations.
MIK and Itiviti Partner to Deliver OMS Connectivity
MIK Fund Solutions has partnered Itiviti to integrate its OMS with Itiviti’s NYFIX order routing network and give clients access to the NYFIX service delivery platform. MIK is one of 50 buy-side service providers to select NYFIX as their main connectivity partner. Marshall Saffer, chief operations officer at MIK, comments: “When we decided to launch our OMS business, we looked for a connectivity partner and decided that joining Itiviti’s Global Alliance Program was the best option. NYFIX seemed like a natural, comfortable choice for us. It is unconflicted, neutral and reliable and offers a range of services for our clients.”
Predata Adds Predictive Analytics for US Equities
Predata, a provider of predictive analytics for geopolitical risk, has released a suite of signals for US equities. The signals quantify online attention to each of the 11 S&P equity sectors, as well as constituent companies and macro themes within sectors. Predata provides signals for asset classes including FX and commodities, but this is its first offering for US equities. Customers can use the out-of-the box signals to inform their perspective on equity sectors, from a macro view of sector themes down to a single company. The Predata platform applies machine learning to transform web traffic data into real-world insights.
BattleFin Partners Refinitiv
BattleFin, provider of an alternative data marketplace, has partnered Refinitiv to bring fundamental and reference data to its Ensemble platform. Alternative datasets within Ensemble’s platform will be mapped to Refinitiv’s identifiers, including PermID, to provide a holistic data workflow, helping investors, analysts and data scientists find alpha and new investment strategies. Refinitiv’s desktop research platform Eikon will also integrate workflow tools with Ensemble to improve data discovery for analysts and portfolio managers. Refinitiv customers will be able to access alternative datasets across Refinitiv’s data platforms, including quantitative data management platform QA Direct in the Cloud.
ASX Adds Liquid-Based Cooling Pods at Australian Liquidity Centre
The Australian Securities Exchange (ASX) is opening its first high-density pod at its colocation data centre, the Australian Liquidity Centre (ALC). The pod is designed to meet customer demand for high-density power combined with efficient cooling and can deliver up to 24 kilowatts of power into an individual cabinet. The pod provides customers the same access to ASX markets as standard cabinets and can directly connect to alternative trading venues and liquidity platforms via ASX Net. ASX says demand is strong, with 20% of the space contracted within days of the new service being released.
JSE Goes Live with Derivatives on Millennium Platform
Johannesburg Stock Exchange (JSE) has gone live with equity and FX derivatives on Millennium Exchange and Millennium Surveillance. The migration of equity and FX derivatives trading onto Millennium Exchange is expected to enable clients to reduce trading costs and bring customer technology infrastructure onto the same platform as cash equities. LSEG Technology has worked with JSE to deliver the derivatives platform, which includes a set of features specifically tailored to support the derivatives market, including implied-order trading, a host of multi-legged trading strategies and options theoretical pricing. These are supported by real time cross-asset class monitoring in Millennium Surveillance.
FINOS Adds Four Companies
Fintech Open Source Foundation (FINOS), an independent membership organisation whose purpose is to accelerate collaboration and innovation in financial services through the adoption of open source software, standards and best practice, is adding four members. The Royal Bank of Canada (RBC) will join as a platinum member; Wipro, a consulting and business process services company, will join as a gold member; Whitesource, an open source security and licence compliance management platform, will join as a silver member; and Axoni, a technology firm specialising in decentralised financial infrastructure, will join as a silver member.
Algomi Extends ALFA with Ability to Execute Orders on Liquidnet and Trumid
Algomi, a provider of data aggregation technology for the optimisation of fixed income liquidity, has extended the functionality of Algomi ALFA with the ability to execute orders on Liquidnet and Trumid. This goes beyond aggregating market data and liquidity, to allow traders to navigate markets and execute trades without duplicating steps across platforms. For actionable liquidity alerts, Algomi ALFA enables order staging and desktop interoperability.
Algomi says the initiative allows fund managers to action and execute decisions based on its front-end data aggregation. For Liquidnet and Trumid users, the initiative offers additional workflow solutions and access to greater liquidity.
Timefolio Asset Management Selects SS&C’s Solutions to Power Operations
Timefolio Asset Management Singapore, a subsidiary of Korea’s Timefolio Asset Management, has selected a combination of SS&C Technologies services to power its operations. The company was looking for a trusted provider that could support investment operations as they grows. Working with SS&C Eze and SS&C GlobeOp also minimises the number of vendors the company works with, which should realise process efficiencies. Timefolio is using Eze Investment Suite for portfolio management, trading, accounting, compliance and integrated order management. It is supporting middle- and back-office outsourcing and fund administration services with SS&C GlobeOp.
Refinitiv Adds Shanghai-London Connect App to Eikon Platform
Building on its commitment to provide data on China’s financial markets and as trading via the Shanghai-London Stock Connect commences this week, Refinitiv has added a Shanghai-London Connect app to its Eikon platform. The app brings together information market participants need to engage with trading and investment opportunities created by the new trading link, including price data, news, economic and other key information related to the companies that list depositary receipts in China or London. The information is also available for machine consumption in real time via the Elektron data platform, enabling customers to power trading engines or other applications.