SOLVE Previews New Issue Monitor for Structured Credit Markets

SOLVE has unveiled New Issue Monitor, a new capability within its SOLVE Quotes platform that combines structured credit primary market deal information with secondary market pricing and trading data.

Previewed at the ABS East conference in Miami, the solution enables portfolio managers, traders and analysts to track new issues from announcement through bookbuilding and pricing, alongside existing secondary market quotes. Users can monitor individual deals and tranches, track pricing developments and filter opportunities by deal size, weighted average life, credit enhancement and structure. The platform also provides saved views and aggregated summaries of deal activity. New Issue Monitor will offer coverage of structured credit deals from announcement, with 60 days of historical deal information available at release.

The integration builds on SOLVE Quotes’ existing machine learning and natural language processing capabilities, which process more than 30 million fixed income quotes daily, including coverage of over 150,000 structured product securities.

tZERO Secures CFTC Clearing Approval to Expand into Derivatives Infrastructure

tZERO Group has received approval from the Commodity Futures Trading Commission (CFTC) to register its subsidiary, tZERO DCO, as a derivatives clearing organisation, extending its regulated market infrastructure beyond securities and tokenised assets. The company expects approval of its separate designated contract market (DCM) registration to follow, enabling it to develop exchange and clearing services for derivatives, subject to further regulatory and operational requirements.

Potential products include event contracts, conventional and tokenised derivatives, perpetual futures and other cryptocurrency-linked instruments, subject to applicable product approvals.

The expansion forms part of tZERO’s Infrastructure-as-a-Service strategy, providing institutional clients with modular trading, clearing and settlement capabilities across multiple asset classes. The new clearinghouse will manage counterparty credit risk and support derivatives settlement, while the planned exchange will provide trading infrastructure. Together, these capabilities are intended to support institutional firms developing multi-asset offerings through integrated and white-label solutions.

Plus500 Agrees to Acquire Brazilian Broker-Dealer Guru to Expand Latin American Operations

Plus500 has conditionally agreed to acquire Brazilian broker-dealer Guru Corretora de Títulos e Valores Mobiliários, establishing a regulated local presence in Latin America’s largest economy and expanding its regional trading operations. Guru is regulated by the Central Bank of Brazil and the country’s Securities and Exchange Commission (CVM).

The acquisition will provide Plus500 with local market access and regulatory infrastructure to develop trading services covering Brazilian equities, futures, options and fixed income securities. The transaction builds on Plus500’s existing partnership with Brazilian trading technology provider Nelogica and its recent entry into Colombia. It also supports plans to provide Latin American customers with access to US derivatives markets.

The acquisition will be funded from existing cash resources and remains subject to regulatory approvals and customary closing conditions. The agreement follows Plus500’s recently announced acquisition of US broker-dealer Hedge Capital Markets, extending its multi-asset expansion strategy across the Americas.

B2PRIME Expands Tier-1 Liquidity Access and Institutional Trading Infrastructure

B2PRIME Group has expanded its institutional liquidity infrastructure, securing additional capacity with its Tier-1 prime broker and extending relationships with major banks and financial institutions to support larger trading volumes and more complex execution requirements.

The expansion strengthens B2PRIME’s prime-of-prime offering through a broader network of banking and non-bank liquidity providers, enabling the construction of customised liquidity streams for institutional clients. Its upgraded aggregation architecture accommodates different order book depths, execution parameters and pricing formats, allowing liquidity configurations to be tailored to individual trading strategies, ticket sizes and latency requirements.

B2PRIME has also enhanced its execution-quality monitoring, incorporating markout analysis and price-movement detection alongside metrics covering fill ratios, slippage, rejection rates and response times. The company reports improved executable depth, tighter spreads across FX and precious metals, and greater price stability across trading sessions.

The expanded offering is available to eligible institutional clients through FIX API and established trading connectivity platforms.

Zema Global Expands Marex Partnership to Broaden Energy and Commodity Market Data Coverage

Zema Global has expanded its partnership with Marex, extending the range of energy, environmental and commodity market datasets available through its Decisioning Infrastructure platform.

The agreement provides Zema customers with additional pricing, forward curve, index and historical data covering crude oil, refined products, freight, petrochemicals, natural gas liquids and biofuels across Europe, North America and Asia. The expanded offering also includes daily curves, live and delayed market data, indices and historical datasets spanning power, natural gas, LNG, options, emissions, renewable energy credits and coal.

The integration enables trading firms, financial institutions and commodity market participants to combine Marex’s pricing and transaction data with other market, fundamental and proprietary datasets within their existing analytical and operational workflows.

The additional coverage is intended to support price discovery, valuation, trading and risk management, particularly for firms managing exposures across multiple energy and commodity markets.

Square Capital Selects Confluence Revolution API for Integrated Risk Analytics

Paris-based asset manager Square Capital has selected Confluence Technologies’ Revolution risk API to enhance its investment risk analytics as it expands into more complex investment strategies, including structured products. The implementation will integrate Confluence’s quantitative risk engine directly into Square Capital’s proprietary technology platform, allowing the firm to extend its analytical capabilities without replacing existing infrastructure.

Revolution provides real-time access to Value at Risk, Expected Shortfall, liquidity risk, credit analytics and stress testing across more than 2,900 scenarios. Its pricing library includes over 360 functions covering traditional assets, complex derivatives and structured products.

The integration will support Square Capital’s growing exposure to instruments including Phoenix autocalls, reverse convertibles and capital-protected notes, while helping the firm meet additional regulatory requirements imposed by France’s Autorité des Marchés Financiers (AMF).

The deployment, according to Confluence, reflects increasing demand for API-based risk analytics that can be embedded within existing investment management workflows.

Movantis Selects Integral to Expand Institutional FX Liquidity Across Latin America

Movantis, the cross-border financial infrastructure provider, has selected Integral’s FX technology platform to strengthen its institutional liquidity offering across Latin America, supporting banks, payment networks and digital asset operators. The company has integrated Integral FX, a full-stack platform combining pricing, liquidity aggregation, risk management and distribution capabilities. The deployment will allow Movantis to consolidate its FX infrastructure and expand access to liquidity through Integral’s network of providers.

New distribution channels include an institutional trading platform, direct-to-client API trading and API connectivity to a third-party multi-dealer venue, operating through Movantis’ network of licensed partners.

Movantis facilitates more than $60 billion in annual transaction value across over 200 million transactions, supported by a network of more than 90,000 payout locations and 50 money transfer operators. The integration will support further regional expansion, particularly as institutional demand for Mexican peso liquidity and cross-border payment services increases.

HPR’s HYPRCUBE Matching Engine Achieves Five-Microsecond Latency in Independent Testing

HPR has announced the results of independent performance testing conducted by Exactpro on HYPRCUBE, its fully hardware-based exchange matching engine, demonstrating median order roundtrip latency of approximately five microseconds under production-like load conditions. HYPRCUBE uses an integrated hardware architecture designed to deliver deterministic latency and throughput reaching tens of millions of messages per second.

The benchmarking programme evaluated the platform across multiple order types, execution scenarios and order management operations, including order acceptance, cancellation, replacement and execution.

Testing was conducted using a server directly connected to HYPRCUBE, with latency measured between the transmission of an order request and receipt of the first corresponding response. Timestamps were captured externally at the test server’s network interface. Exactpro’s testing also covered pegged orders, execution instructions, market protections and self-trade prevention mechanisms. The results provide independently measured performance data for exchange operators evaluating hardware-based matching technology.

Sterling Trading Tech and Atlas Digital Markets Partner on Integrated Best Execution Analytics

Sterling Trading Tech has partnered with Atlas Digital Markets to integrate transaction cost analysis (TCA) directly into its OMS 360 platform and Sterling Data Warehouse, enabling trading firms to measure execution quality using their complete order and execution histories.

Scheduled for availability in Q4 2026, the integration will allow compliance, risk and trading teams to assess execution performance against relevant market benchmarks, initially covering equities and options, with plans to extend into digital assets and prediction markets. Atlas’s analytics engine will operate within Sterling’s infrastructure, accessing order lifecycle data without transferring client information outside the Sterling environment.

The collaboration comes as the SEC considers rescinding Regulation NMS Rule 611, potentially placing greater emphasis on broker-dealers’ ability to demonstrate compliance with best-execution obligations. The companies also plan to extend their partnership into smart order routing, execution algorithms, digital asset trading and request-for-quote systems, building on the integrated analytics capabilities.

FIX Trading Community Publishes Standardised Margin Reporting Framework

The FIX Trading Community has published new guidance establishing a standardised messaging framework for margin requirement reporting between asset managers and clearing brokers or swap providers.

Developed by FIX’s Post-Trade Committee, the specification aims to simplify how buy-side firms request and receive margin information from counterparties, reducing reliance on manual processes and bespoke reporting arrangements.

The framework supports machine-readable margin reports covering individual accounts, portfolios, instruments and overall margin excesses or deficits. It accommodates both one-off requests and ongoing reporting, enabling firms to exchange margin information through a consistent format.

The guidance is intended to improve collateral management, exposure monitoring, reconciliation and funding decisions, while reducing operational complexity and the potential for disputes.

By extending standardised FIX messaging into margin reporting, the initiative provides a foundation for greater automation of post-trade collateral and funding workflows across buy-side and sell-side institutions.