BNP Paribas has selected Fidessa’s derivatives trading platform to underpin the bank’s futures and options agency trading business. The platform will support the workflow requirements across Europe, Asia-Pacific and North America. It will also provide BNP Paribas with a suite of specialised derivatives algorithms, including benchmark algos and advanced synthetic order types to normalise trading […]
This paper looks at the current state of high-frequency trading – why it’s popular and what types of strategies and technologies are being used. It then explores how in-memory computing can meet the technological challenges and increase trading profits. As competition intensifies in the field of high-frequency trading, financial services firms need a new level […]
Misys plans to proceed with an initial public offering (IPO) on the London Stock Exchange in early November 2016. As Banking Technology reported in August, Misys – currently residing in the hands of US-based Vista Equity Partners – was understood to be gearing up for this IPO with a £5.5 billion float and appointed investment […]
“First they think it’s stupid, then they think it’s obvious. Blockchain has passed the first test.” These are the words of an economics professor (quoted, but not present) on revolutionary ideas, and perhaps a succinct evaluation of where blockchain is right now. In a packed conference room on the Monday afternoon (26 September), the panel discussed “Blockchain 2020 – what next for adoption by the financial industry”.
Tokyo Commodity Exchange (Tocom) has gone live on its new trading system – powered by Nasdaq’s Genium INET technology, as well as Nasdaq pre-trade risk and smarts market surveillance solutions.
In a new gambit, Goldman Sachs is giving its most valuable software away for free to win more business from clients. In an interview with The Wall Street Journal, Michael Dubno, who was CTO at Goldman Sachs for 20 years, discussed how the investment bank makes “billions of dollars in well-timed trades, and sidestep billions […]
Our rejuvenated Banking Technology Awards have received an unprecedented amount of entries this year – from banks, financial institutions, fintech firms and individuals worldwide – and we are happy to reveal the shortlisted candidates. Now in their 17th year, Banking Technology Awards recognise and reward excellence and innovation in the use of IT in financial […]
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Chicago-based swap execution facility, Seed SEF, has been granted full registration by the US Commodity Futures Trading Commission (CFTC). It is underpinned by the GMEX Technologies’ trading and surveillance software. GMEX is also a stakeholder in Seed SEF. SEFs are trading facilities that operate under the CFTC’s regulatory oversight for trading and processing swaps. They […]
The UK’s Competition and Markets Authority (CMA) says it has “provisionally” found Intercontinental Exchange’s (ICE) acquisition of Trayport may give rise to competition concerns. ICE is the largest operator of exchanges and clearing houses in the trading of European utilities. It has its own proprietary software which allows trading of energy commodity and utility derivatives […]
Inter-dealer money broker Tullett Prebon has partnered with GMEX Group to develop a hybrid voice and electronic trading platform for FX Options. The new FX Options trading solution will integrate GMEX’s request for quote (RFQ) technology with Tullett Prebon’s existing central limit order book (CLOB) capability. GMEX Technologies, a wholly-owned subsidiary of GMEX Group, supported […]
Canada’s major exchange, depository and clearing group – TMX – has unveiled a new initiative that is set to transform the company into “a client-driven solutions provider to the Canadian and global capital markets”. TMX states that “the objective of the initiative is to align, simplify and integrate relevant systems and operations to both lower […]
Canada’s newest stock exchange, Aequitas NEO Exchange, has implemented the hosted version of OneTick platform, supplied by OneMarketData. The new platform underpins the exchange’s data and advanced analytics service, OneTickCloud. OneTickCloud supports global equities and futures tick history, reference data, and adjustment factors, and provides on-demand analytics for creating custom datasets. Karl Ottywill, COO at […]
Casablanca Stock Exchange (CSE) has gone live with Millennium Exchange for equities and fixed income trading and Millennium Surveillance to monitor trading and “detect unusual behaviour”. The solutions will be underpinned by the Millennium Advanced Platform (MAP), and are all provided by Sri Lanka-based MillenniumIT; which was acquired by the London Stock Exchange (LSE) in […]
Trading platform provider Fidessa has reported an increase in profit and revenue in the first half of 2016. For the period ended 30 June 2016, revenue rose by 9% to £158.3 million. Profits were even better. Operating profit was £22.0 million, compared to £19.2 million in 2015. Pre-tax profit was also up – with a […]
India’s National Stock Exchange (NSE) has implemented ITRS’s real-time monitoring platform, Geneos. ITRS says the rollout is part of the NSE’s objective to “streamline” operations due to the recent regulatory reform in the Asian securities market. G. Shenoy, CTO operations at NSE, says: “ITRS Geneos gives us an early warning system so that we can […]
The Australian Securities Exchange (ASX) says Trading Technologies International (TT) has launched its new trading platform in the Australian Liquidity Centre (ALC). David Raper, executive general manager trading services at ASX, says TT’s new platform will provide the community with an “innovative means” to access derivatives products on the Australian market. Customers of TT will […]
Japan Exchange Group’s (JPX) subsidiary, Osaka Securities Exchange (OSE), has gone live on Nasdaq’s new derivatives trading system. The trading system will provide OSE with “higher performance, longer trading hours and more flexibility” for new products. In addition to the trading system, OSE has also launched Nasdaq’s real-time, cross-market surveillance (Smarts) and pre-trade risk management […]
Australian Securities Exchange (ASX) has opted for Metamako’s MetaMux for real-time monitoring of its new trading platform and for timestamping and time synchronisation of its internal network traffic. Dr. Dave Snowdon, founder and CTO of Metamako, says: “This is the first time that a major exchange has publicly acknowledged its use of our products. The […]
Decentralised financial platform provider Nxt has developed Ardor, the “first ever” scalable platform using blockchain. The Netherlands-based firm says Ardor, which is available from tomorrow (14 July), is designed to function beyond financial exchanges and will be “open to everyone”, including individual users, start-ups, banks and governments. Dave Pearce, director at Nxt Foundation, says: “Ardor […]
ALTX East Africa has launched its new exchange – offering the ability to handle 150,000 transactions per second. Joseph Kitamirike, CEO, director and co-founder of ALTX East Africa, says: “We also have the ability to settle securities transactions on a delivery versus payment (DvP) model within 15-20 seconds if the settlement bank we are working […]
ThinkForex, a financial derivatives trading provider, has rebranded to ThinkMarkets and launched ThinkTrader, its own multi-asset trading platform. The changes are part of the firm’s growth ambitions; and Nauman Anees, CEO and co-founder at ThinkMarkets, says it still has “the same mission and values but the new brand better reflects who we are, a technology […]
Deutsche Börse is to provide the IT infrastructure for German private bank Donner & Reuschel, and will assume administration and hosting for its data centres. In addition to connecting to its own trading platforms, Eurex and Xetra, network connectivity will also be extended to bank end users and additional third-party providers. “Deutsche Börse provides our […]
Start-ups should first be focused on domestic markets over global ambitions, was one of the messages amidst the hurly-burly of Madrid-based MoneyConf 2016. More than 1,800 people were on hand for the two-day event held at the pleasant venue of La Nave. Part one of our review of the show was on wealth management, while […]
DB1 Ventures is Deutche Börse’s new dedicated corporate venture capital platform, set up as part of the group’s “Accelerate” growth strategy. The DB1 Ventures team will be primarily based in Frankfurt and will undertake new investments and also manage Deutsche Börse’s existing minority shareholdings. “DB1 Ventures will invest only in areas that are strategic to Deutsche […]
IEX Group has gained approval from the Securities and Exchange Commission (SEC) to launch a stock exchange. IEX will become the 13th official stock exchange in the US. The company has already been operating as a private trading pool, attracting around 1.6% of all daily trading volume recently. Notably, IEX is run by the prominent […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Goldman Sachs to underpin new digital bank with Infosys tech It’ll be the e-Finacle digital banking platform, Banking Technology understands. Infographics: The Euro 2016 guide to e-commerce In the spirit of that football tournament that starts today, we’ve got an e-commerce […]
London Stock Exchange (LSE) and Boat Services have launched Tradecho, a combination of the two companies’ existing and “complimentary” trade reporting services. LSE says by early Q1 2017, Tradecho will provide a single trade reporting venue and “complement” its T+1 MiFID (Markets in Financial Instruments Directive) and EMIR (European Market Infrastructure Regulation) transaction reporting services, […]
Famous/infamous hacking group Anonymous says it took down the London Stock Exchange’s (LSE) website for two hours as part of a protest against world’s banks. According to the Mail on Sunday, the attack was carried out by a group, within the organisation, based in the Philippines. The newspaper says: “Anonymous claims the incident was one […]
China Foreign Exchange Trade System (CFETS), the nation’s official inter-bank market trading platform and infrastructure provider, has chosen ICAP in a $65 million deal. The technology for fixed income and foreign exchange (FX) electronic execution services in mainland China will be delivered by EBS BrokerTec, ICAP’s electronic FX and fixed income business. The deal, valued […]
National Australia Bank (NAB) and technology consulting firm Lab49 are piloting the starXchange trading platform. The e-trading platform has been released to the market and offers automation for pre-trade, execution and post-trade activity. Clients can trade through the platform itself or through major multi-bank platforms. NAB partnered with Lab49, a “specialist in capital markets technology”, […]
The London Stock Exchange (LSE) says its all-share merger with Deutsche Börse could result in 1,250 job losses. In March, after speculation and a rival bid, both parties reached agreement to create a Europe-based global markets infrastructure group valued at about £21 billion. The merger is expected to be finalised by the end of this […]
Nasdaq has launched the Nasdaq Financial Framework for financial infrastructure providers. The framework is “immediately” available to more than 100 market operator clients globally, including traditional exchanges, inter-broker dealers and alternative trading venues, clearing houses and central securities depositories (CSDs). Adena Friedman, president and COO, Nasdaq, says the framework is the result of “significant R&D […]
Credit Suisse has opted for FIS’s Derivatives Utility for its post-trade futures and cleared over-the-counter (OTC) derivatives operations and technology. The utility provides customers with derivatives clearing operations and technology services for trade clearing, trade lifecycle management, margin processing, brokerage, reconciliation and data management. John Dabbs, global head of prime derivatives services, Credit Suisse, says […]
Financial systems vendor Infosys has been awarded a five-year contract with Commerzbank to remodel its investment banking IT architecture. Along with the remodel, Infosys will improve IT processes and evaluate a potential post-trade processing utility. The later would then “focus on the clustering of trade processing platforms across various product types”. Stephan Müller, group CIO, […]
UK-based RISE Financial Technologies claims to be “the first technology firm to launch the second generation of blockchain for the post-trade sector”. The solution is now undergoing testing with a number f banks, custodians and CSDs. The results will be published in H2 2016. RISE develops multi-asset class, multi-currency distributed financial ledger technology for the […]
Haitong International Securities Group has gone live with the second stage of the middle office revamp. The underlying tech is the Syn capital markets platform, provided by GBST, an Australia-based securities processing software vendor. Haitong signed for Syn last year and reported the first go-live in November. It has adopted the Syn platform as it […]
Tokai Tokyo Securities (Asia) has gone live in Hong Kong with Fidessa’s trading platform as a fully outsourced service. Nishida Tadahiko, director and president of Tokai Tokyo Securities (Asia), says: “We have been using the Fidessa system for years in Japan [where the parent company, Tokai Tokyo Financial Holdings, is located], with full confidence in […]
New York Stock Exchange owner, Intercontinental Exchange (ICE), has confirmed it won’t make a bid for London Stock Exchange (LSE). In March, ICE had said it was considering making a rival bid for LSE – setting up a potential takeover battle with Deutsche Börse. That never happened as a few weeks later in March Deutsche […]
KBZ Stirling Coleman (KBZSC) and AYA Trust go live with TCS Bancs, and Bank for Investment and Development of Vietnam (BIDV) looks for a hardware provider for its new subsidiary in Myanmar. KBZSC and AYA Trust TCS Financial Solutions has completed the deployment of its TCS Bancs system to support securities trading and settlement at […]
