General Atlantic, Warburg Pincus Buy 50% Of Santander Asset Management


Two private-equity firms have struck a deal for half of Santander Asset Management. General Atlantic and Warburg Pincus will pay €700 million for the stake.

via Pocket http://www.finalternatives.com/node/23801 May 31, 2013 at 05:14PM

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NexRates integrates MDXT plugin


NexRates integrates MDXT plugin

http://www.atmonitor.co.uk/news/newsview.aspx?title=nexrates-integrates-mdxt-plugin

NexRates, the latest e-trading product from SoftSolutions!, today announces that it has integrated MDXT Connect, the high performance Excel plugin from MDX Technology (MDXT), a leading provider of real-time market data connectivity for traders.

nexRates is a comprehensive solution providing pricing, trading, quoting, risk management and position keeping for market makers and brokers dealers in Fixed Income assets. With the integration of MDXT, nexRates customers will benefit from a high performance Excel plugin that can be used for subscribing and publishing real time market data through nexRates.

Michele Comi, Sales Director, nexRates, commented “We are thrilled to add MDXT’s market leading Excel plugin to the array of functionality already offered by nexRates. The integration of MDXT’s Excel interface adds to the extremely flexible architecture of nexRates and enhances the trading experience further.”

Paul Watmough, CEO, MDXT, said “MDXT is experiencing a period of unprecedented adoption amongst third party vendors, as well as banks, brokers, hedge funds, etc., and we are very pleased to extend our Excel plugin to nexRates. We see Excel continuing to be the tool of choice for accessing and manipulating real-time data, and it is clearly important as an interface for nexRates clients.”

Clearstream introduces DVP settlement solution in Russia


Clearstream introduces DVP settlement solution in Russia

http://www.atmonitor.co.uk/news/newsview.aspx?title=clearstream-introduces-dvp-settlement-solution-in-russia

Published on   May 30, 2013

As momentum continues in the reform of Russia’s capital markets, Clearstream is keeping pace and is supporting the set-up of an effective settlement framework by delivering its improved settlement solution and introducing municipal bonds via its direct link to the new Russian Central Securities Depository (CSD), the National Settlement Depository (NSD).

This week, Clearstream goes live with its new delivery versus payment (DVP) settlement solution – the market’s preferred settlement choice since it is more efficient, more secure and offers more real time settlement compared to the free of payment (FOP) option. For DVP settlement, a clear link is established between a securities transfer system and a funds transfer system that ensures delivery occurs only as and when payment occurs. This move by Clearstream is helping to pioneer a shift within the market from its current system of settling in cash batches, to a system which is closer to real-time settlement. The extent to which real-time securities settlement becomes a real possibility will still depend on the decision by Russian market participants to move away from the batch system for local cash transfers.

Clearstream this week also introduces Russian municipal and regional bonds for settlement via the NSD and extends settlement deadlines for its free of payment (FOP) settlement service by several hours (from 13:55 to 17:20 CET summer time). These steps reflect good pace in Clearstream’s – and the wider market’s – settlement and custody services development since the establishment of the NSD as CSD for Russia at the end of last year. As a next milestone, Clearstream plans to introduce settlement for Russian corporate bonds and to enhance its access model for Russian equities as soon as local legislation allows for this.

Jeffrey Tessler, Chief Executive Officer of Clearstream, said: “I am delighted we keep developing and enhancing our settlement and custody services in the Russian market. Our new delivery versus payment settlement solution is an exciting milestone as it helps pave the way for the Russian market to move more towards a real time settlement environment, keeping up with other capital markets around the world as part of Russia’s capital market reform.”

Eddie Astanin, Chairman of the Executive Board, National Settlement Depository, commented: “Switching to delivery versus payment (DVP) using the link between the National Settlement Depository and Clearstream will create additional opportunities for foreign investors who conduct transactions with Russian fixed income instruments. We are happy to see a high rate of technological development of Clearstream’s link, which in turn is contributing to the development of the national infrastructure and, as a consequence, makes the Russian financial market more attractive and competitive.”

Clearstream’s services in Russia

Clearstream offers a comprehensive service taking full advantage of the new Russian securities law and market infrastructures refocus, including custody and settlement for the following instruments:

Equities – held in omnibus form via Clearstream’s local agent bank Deutsche Bank Moscow’s link with the NSD and deliverable free of payment (FOP) in the local market;

OFZ bonds and municipal bonds – held in omnibus form via Clearstream’s own direct link with the NSD;

Delivery versus payment (DVP) multicurrency settlement against all Clearstream Banking Luxembourg and Clearstream Banking Frankfurt international central securities depository customers;

Delivery versus payment (DVP) settlement against all NSD counterparties in Russian rubles for OFZ bonds and municipal bonds.

OtkritieSecurities Ltd. successfully launches FIX2LSE solution from ARQA Technologies


OtkritieSecurities Ltd. successfully launches FIX2LSE solution from ARQA Technologies

Published on   May 30, 2013

http://www.atmonitor.co.uk/news/newsview.aspx?title=otkritiesecurities-ltd-successfully-launches-fix2lse-solution-from-arqa-technologies
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TheFIX2LSE product developed by ARQA Technologies has gone live after it was implemented and successfully launched by Otkritie Securities Limited(OSL).

The solution was developed on the basis of the London Stock Exchange’s Native Trading Gateway. It was certified by the exchange at the end of last year. The FIX2LSE solution is currently the fastest in the developer’s range of similar products(FIX2Markets). Along with all of the products in the range,FIX2LSE may be used for direct sponsored access of external software suites to exchange trading platforms. Another attractive feature of this solution is that itemploys fast pre-trade checksdeveloped inQUIK(for application of real-time pre-trade checks QUIK software is employedasa risk server.)Using this feature allows traders to save up to 50 ?son pre-trade checkspreserving access to all of the prime-brokerage services provided by Otkritie Securities Limited.

This solution is especially important for OSL as a UK broker regulated by the FCA. The European Securities and Markets Authority (ESMA) puts a lot of regulatory pressure on DMA brokers all over the EEA. Mandatory pre-trade checks are one of their requirements. FIX2LSE is a good solution that isboth fast and ESMA compliant.

Sergey Sinkevich, Head of DMA at Otkritie Capital, said: “We are delighted to have implemented such an innovative producton our trading floor. The unique features of this solution will ensure that OSL continues to lead the market”.

Vladimir Kurlyandchik, Director of Business Development of ARQA Technologies, said: “We are pleased to see our efforts bringing value to our clients. Rapid solutions backed up by sound risk control provide a shortcut to successful trading”.

Nasdaq Dubai initiates Islamic bonds trading platform


Nasdaq Dubai initiates Islamic bonds trading platform

Published on   May 28, 2013
http://www.atmonitor.co.uk/news/newsview.aspx?title=nasdaq-dubai-initiates-islamic-bonds-trading-platform

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NASDAQ Dubai, the Middle East’s international financial exchange, is preparing to open a platform on which investors can trade Sukuk (Islamic bonds) and conventional bonds.

Trades will be automatically and exclusively routed for settlement at Euroclear Bank. The tradable securities will initially comprise at least 12 Sukuk and bonds that are listed on the exchange, with a nominal value of 10.9 billion dollars.

The platform will be available to institutional and high-net worth investors and will be opened and gradually developed in coming weeks.

Essa Kazim, Chairman of Borse Dubai, the holding company for Dubai’s stock exchanges, said: “The new platform is a natural extension of Dubai’s existing role as a centre for Sukuk and bond issuance and listing. NASDAQ Dubai will offer an efficient trading venue to participants from the region and around the world, providing fresh impetus to the growth of the capital markets in the UAE and the region.”

Tim Howell, Chief Executive Officer of Euroclear, commented: “Euroclear Bank’s proven post-trade infrastructure will complement NASDAQ Dubai’s new platform, helping issuers gain access to the largest and most diverse community of global trading counterparties. Our commitment to Dubai and the Middle East region will be strengthened further by this new relationship with NASDAQ Dubai.”

Hamed Ali, Acting Chief Executive of NASDAQ Dubai, said: “The opening of the platform will be an important step in Dubai’s growth as a global leader in innovation in the Sukuk and bond sectors. We look forward to creating further depth in the fixed income market and will collaborate with investors and other participants to steadily develop and enhance the platform.”

The platform will open with links to leading UAE and international financial services institutions, creating a first class trading and settlement infrastructure.

For the first time, prices of NASDAQ Dubai-listed Sukuk and bonds will be visible to all investors simultaneously on the same screen-based system, through the exchange. This will increase transparency and efficiency in the secondary market as well as promoting liquidity.

Curreently the Sukuk and bonds are tradable through banks offering investors different trading structures and different prices (known as ‘over the counter’ trading).

The NASDAQ Dubai platform will expand investor choice and aims to bring new participants into the market. A number of NASDAQ Dubai Members have already signed up to the new platform in order to offer Sukuk and bond trading to their clients and other Members are preparing to do so.

CHI-X Canada ATS CX2 successfully completes launch and captures up to 6% market share in key names


CHI-X Canada ATS CX2 successfully completes launch and captures up to 6% market share in key names

http://www.atmonitor.co.uk/news/newsview.aspx?title=cx2-successfully-completes-launch-and-captures-up-to-6-market-share-in-key-names

Published on   May 29, 2013

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Chi-X® Canada ATS Limited, a wholly owned subsidiary of alternative trading venue operator Chi-X® Global Holdings LLC, announced that CX2™ successfully completed its symbol migration of all TSX-listed and TSXV-listed securities on May 21, 2013.

Dan Kessous, CEO, Chi-X Canada commented “We are excited to see our clients reacting to CX2 pricing and features. CX2’s immediate success demonstrates that retail and institutional investors are benefiting from CX2’s unique pricing that rewards liquidity takers and that CX2 is key to reducing the overall cost of trading for investors in Canada.”

Kessous continued “It has been an exciting year for Chi-X Canada. The trading community continues to push our market share to new record highs. We are pleased to report that Chi-X Canada was the only venue to gain market share on a year over year basis in April, rising from 10% to 15% for TSX-listed securities. We remain committed to working with our clients to develop products and services that make trading more efficient.”

Chi-X Canada
“We would like to thank the following vendors for their support and readiness: Fidessa Canada, IRESS Canada, Pico Quantitative Trading, Stockwatch and ThomsonReuters. We look forward to welcoming new vendors over the coming weeks.”

PFSOFT Protrader platform integrates ACTIV’s market data with PFSOFT’s multi-asset trading platform


PFSOFT Protrader platform integrates ACTIV’s market data with PFSOFT’s multi-asset trading platform

http://www.automatedtrader.net/news/at/142767/pfsoft-protrader-platform-integrates-activs-market-data

First Published 28th May 2013

Partnership integrates ACTIV’s European market data with PFSOFT’s multi-asset trading platform

Frank Piasecki, president, ACTIV Financial

Frank Piasecki, president, ACTIV Financial

“In order for firms to succeed in today’s volatile market conditions, they need a cost-effective way to access the growing volumes of market data crucial to executing successful strategies.”

New York – ACTIV Financial has announced that PFSOFT will now offer ACTIV’s European equities, options and futures market data through its multi-asset trading platform, Protrader.

PFSOFT clients are now able to utilize ACTIV’s European market data feeds as part of an integrated trading and market data solution. ACTIV’s market data will be available via Protrader’s desktop, web and mobile versions. In addition to ACTIV’s market data, PFSOFT also implemented vendor of record technology from ACTIV to provide permissioning and exchange reporting support to Protrader users.

“PFSOFT strives to provide the most comprehensive solution for its clients,” said Denis Borisovsky, CEO of PFSOFT. “Integration with ACTIV Financial is a valuable addition to our product diversity and we are glad that multiple brokers are starting to work with ACTIV’s services.”

“In order for firms to succeed in today’s volatile market conditions, they need a cost-effective way to access the growing volumes of market data crucial to executing successful strategies,” said Frank Piasecki, president of ACTIV Financial. “ACTIV is delighted to be working with PFSOFT to deliver a comprehensive, multi-asset class European market data for PFSOFT’s Protrader clients. As market data volumes continue to grow, we’ll continue to provide high quality, low-latency data for our clients while keeping their overall TCO under control.”

The TMX Atrium Community – Multi-region, multi-asset


Below is an example of some of the trading venues,which are available within the TMX Atrium community offering access to a variety of asset classes.

BATS FXCM NYSE Euronext (Europe)
US Equities, Options FX Spot, Futures European Equities, Options, Futures, Indices, Fixed Income
Bolsa y MercadosEspanoles HotSpot NYSE Euronext (US)
Spanish Equities, Options, Futures, Indices, Fixed Income FX Spot, Futures US Equities, Options, Commodities
Boston Options Exchange Level ATS Omega
US Options US Equities Canadian Equities
Bourse du Luxembourg London Stock Exchange* Oslo Bors
Cash Equities, Fixed Income UK Equities Norwegian Equities, Options, Futures
Burgundy London Metal Exchange Pure Trading
Nordic/Scandinavian Equities, Warrants Commodities Canadian Equities
Chicago Board of Options Exchange LMAX Quote MTF
US Options, Futures CFD, FX Spot European Equities
Chi-X Canada Match Now Sigma X
Canadian Equities Canadian Equities European Equities
Chi-X Europe/BATS Montreal Exchange Singapore Exchange
European Equities Canadian Options, Futures, Indices, Fixed Income Singapore Equity Derivatives
Chicago Mercantile Exchange Moscow Exchange Toronto Stock Exchange
Futures, Commodities, Indices Russian Equities, Options, Futures, FX, FX Options, Fixed Income Canadian Equities, Indices,
CNSX NASDAQ OMX (Nordic) TSX Alpha
Canadian Equities Nordic/Scandinavian Equities, Options, Futures, Indices, Fixed Income Canadian Equities
Deutsche Bourse* NASDAQ OMX (US) Trad-X
German Equities, Options, Futures, Fixed Income US Equities, Options Fixed Income Swaps
Direct Edge NGX The Order Machine
US Equities Energy European Options
Equiduct NLX Turquoise
European Equities Fixed Income (STIR/LTIR) European Equities, Futures, Indices
FX All Nordic Growth Markets Warsaw Stock Exchange
Spot, Futures Nordic/Scandinavian Equities, Warrants Polish Equities, Options, Futures, Indices, Fixed Income

 

*Accessed through partner firm

BGC and Thesys form Epsilon Networks for microwave data networks for the financial community


BGC and Thesys form Epsilon Networks for microwave data networks for the financial community

First Published 31st July 2012

BGC Partners and Thesys Technologies partner to create high-speed microwave data networks

http://www.automatedtrader.net/news/data-news/129862/bgc-and-thesys-form-epsilon-networks

New York – BGC Partners has signed an agreement with Thesys Technologies to invest in the creation of high-speed microwave data networks for the financial community.

Starting with a route between Illinois and New Jersey at an estimated latency of under 8.5mS per roundtrip, the network is designed to transmit critical trading data related to the futures, equities, fixed income and other markets, between the CME, NASDAQ, BGC and ELX Futures data centers.

In addition to bandwidth leasing, Epsilon Networks will introduce a Fast Financials Feed (“FFF”) which will combine proprietary data delivery techniques with the microwave network route. FFF components will initially include access to BGC’s US Treasuries data products and through collaboration with data distributors, CME futures and equities data.

“We are constantly assessing new ways to further our position as one of the world’s premier suppliers of real-time, low latency trading solutions,” said Philip Norton, Executive Managing Director of E-commerce at BGC Partners. He continued: “Building the fastest high speed microwave information network will offer our customers a more rapid route to price discovery and arm them with the best tools possible to make smart trading decisions.”

“Working with Thesys to create the fastest access to critical trading data underscores our commitment as a leading inter-dealer broker to deliver compelling value solutions to our customers,” stated Richard Feldman, Director of BGC’s Strategic Transactions Group (“STG”). He continued: “The STG group is focused on identifying and evaluating new technologies, business investment and acquisition opportunities for BGC that align with our core markets and our customers’ needs while seeking to deliver attractive returns that will contribute to generating long-term value for our shareholders.”

Manoj Narang, CEO of Tradeworx, Inc., the parent company of Thesys Technologies, said: “We are delighted to partner with BGC in building the fastest microwave information network between Chicago and New Jersey, paving the way for improved price discovery and trading. We anticipate continued improvements in speed and reliability for the network based on the unique technology advantages that Thesys offers to its clients and partners.”

The microwave information network is expected to be operational during the fourth quarter of 2012.

BGC PARTNERS ENERGY PRACTICE EXPANDS IN HOUSTON


BGC launches Houston presence with new hires

First Published 23rd May 2013

BGC Partners expands with hire of eleven former Landmark Power Exchange brokers

http://www.automatedtrader.net/news/at/142749/p–bgc-launches-houston-presence-with-new-hiresp

New York – BGC Partners have announced that eleven leading energy brokers, all formerly with Landmark Power Exchange, have joined its growing Energy Practice. The team, which specializes in brokering electricity, natural gas and environmental products, complements BGC’s existing environmental energy commodities group, and strengthens BGC’s ability to service its clients in a wide range of energy and energy-related markets. Based in Houston, Texas, these hires mark a strategic expansion of BGC’s geographic footprint in North America.

“These hires mark an exciting new chapter for BGC as we launch a Houston presence,” said Shawn McLoughlin, Director of New Business Development, BGC North America. “We are delighted to welcome these high caliber brokers to our growing Energy Practice. Their depth of experience complements our existing strengths in this industry and we look forward to offering expanded services and added value to our client base.”

Chad Martin, Director, who joins from Landmark Power Exchange, commented: “My colleagues and I are thrilled to join BGC, a leading global brokerage firm which fully supports our mission to offer clients the very best in energy brokerage services. We look forward to exploring opportunities across the firm and capitalizing on the benefits of BGC’s impressive technology platform to offer our clients the most sophisticated and efficient access to trading in the energy markets.”

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