Broadridge Selected by Bloomberg Tradebook for New Self-Clearing Model

Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that Bloomberg Tradebook has selected Broadridge’s consolidated business process outsourcing (BPO) solution to support their equity and option clearance and settlement business.

via Pocket May 03, 2013 at 03:37PM


Consilium and Orange Launch Current At Sea, a Paperless Maritime Navigation and Communication Solution

Consilium and Orange Launch Current At Sea, a Paperless Maritime Navigation and Communication Solution

Current At Sea improves safety, allows efficient communications, reduces costs and enables ECDIS compliance.

Consilium and Orange Business Services are modernizing maritime communications with the launch of a paperless navigation solution that extends an Electronic Chart Display and Information System (ECDIS) over the world’s largest MPLS-based network. This bundled, flat-rate solution named Current At Sea enables shipping companies to move to a fully electronic platform for navigation and communications.

Current At Sea is a future-proof, modular ECDIS and communication system that can include voyage optimization programs, fleet and ship management systems, and real-time monitoring applications. Orange is bridging the ship and shore by integrating ECDIS with Orange’s fully managed network (both terrestrial and satellite, including Inmarsat FleetBroadband connectivity). The Orange network ensures accurate, precise data and provides value added enterprise communications such as Business Talk Global, IP Telephony, WAN optimization, M2M and video conferencing to ships at sea.

Nicolas Roy, head of the Network Solutions Business Unit, Orange Business Services, said: “Current At Sea is a one-stop-shop solution that is not about simply replacing paper nautical charts with digital ones but is about completely rethinking business processes in order to improve safety, efficiency and costs. This bundled, fixed-price offering with Consilium will help shipping companies revolutionize the way their vessels operate and significantly improve the way they do business.”

Key customer benefits include:

• immediate compliance with regulatory deadlines – All merchant vessels will be required to use an ECDIS in compliance with International Maritime Organization (IMO) regulations. The bundled solution from Consilium and Orange provides an efficient way to meet this requirement before the deadline.

• operational cost-savings – Orange’s IP network, which allows for a fixed monthly fee with no usage charges on voice or data, keeps communication costs under control. Fuel savings between 4 to 8 percent can be achieved when voyage optimization programs are integrated into the solution. By accurately pinpointing weather and water currents to determine the most fuel-saving route, hundreds of thousands of dollars can be saved annually per vessel. Additionally, Consilium’s unique concept of chart management enables the system to update only the chart parts that are required for the trajectory of the vessel’s planned voyage, which provides additional cost savings.

• improved safety at sea – With the Consilium ECDIS solution, shipping vessels can access an integrated navigational tool that cuts the time it takes to receive updates, warnings and admiralty overlays from weeks to hours. Because it is connected to the Orange corporate network, vessels are assured of securely receiving this data anywhere in the world. A study by DNV, a risk management foundation, found that such a solution can reduce ship groundings, the third-deadliest maritime disaster, by at least 30 percent.

• corporate-to-vessel integration – Orange’s MPLS-based network allows ships to bypass the public Internet when accessing corporate systems and connect using a much more secure, real-time connection to business-critical applications. Ship personnel can employ the full scope of the applications regardless of location, all at a flat fee; and because the connection is continuous, system maintenance can be done remotely while the ship is at sea.

• improved working conditions – According to estimates, a paperless communications platform as provided by Consilium and Orange can reduce a second officer’s workload by up to 40 percent. Also of benefit are all the amenities that come with a superior network connection, such as Internet, text, e-mail, chat, GSM and entertainment while at sea. These services are a vital draw for recruiting and retaining crewmembers and improving crew morale.

“Current At Sea is a unique solution as it is the first time a VSAT system and a Dual ECDIS are offered as a package with a monthly flat rate, which will not affect the ship owners capital expenditure,” Anders Roos, president, Consilium Marine Group.

In June 2011, Consilium Marine Group and Orange Business Services signed a high-level global cooperation agreement through which Consilium globally markets Orange marine VSAT communication solutions through its 34 offices in 19 countries.

Saudi Re Goes Live with Eurobase Insurance Solutions’ synergy2

Eurobase Insurance Solutions (Eurobase), a leading global software and services provider and part of Eurobase International Group, today announces that Saudi Re, the first reinsurance company to be established in Saudi Arabia, has replaced its existing underwriting platform with Eurobase’s strate

via Pocket May 03, 2013 at 03:33PM

Cornish Mutual sees increased profits on Transactor

Truro based insurer Cornish Mutual has experienced rapid growth since being supported by Transactor Global Solutions Ltd’s (TGSL) specialist software solutions, designed to increase productivity and efficiency, reducing costs and increasing profits.

via Pocket May 03, 2013 at 03:31PM

Aqua Global and InterForm Announce Partnership

Aqua Global Solutions a worldwide leading supplier of messaging, integration, payment and cash management solutions, today announced the integration between its e²gen messaging product suite and Interform400.

via Pocket May 03, 2013 at 03:27PM

FICWG Group of Leading Sell-side Banks Announces Industry Support for the Use of the FIX Protocol for Cash Bond Trading

Initiative led by 12 investment and commercial banks has gathered the support of many of the leading bond electronic trading venues The Fixed Income Connectivity Working Group of leading sell side banks (FICWG) welcomes the positive response shown by the industry for the adoption of open, standardi

via Pocket May 03, 2013 at 03:23PM

BNPP hails new dawn of fully outsourced dealing desks

BNPP hails new dawn of fully outsourced dealing desks

May 01, 2013

A service launched this week that lets UK asset managers outsource trading is a natural, yet significant progression and will be vital for smaller buy-side firms to keep apace with technology and regulatory change, an executive leading the service believes.

BNP Paribas Securities Services can now execute orders directly from portfolio managers (PMs) of buy-side firms, removing the need for infrastructure or traders, through the Dealing Services solution, rolled out in the UK this week.

Carl James, who will oversee the business as managing director of BNP Paribas Dealing Services UK, cites the increased costs due to new trading rules and the need to upgrade technology more frequently as primary drivers behind the outsourcing trend.

“This outsourced trading desk will ideally appeal to smaller asset managers with three to five traders to outsource all of their dealing, or to buy-side firms about to install or update their dealing platform,” James told

“They can save on the expense of doing this by outsourcing to Dealing Services with our up-to-date technology. Larger buy-side firms are likely to outsource a portion of their trading – either by geography or asset class, for example outsourcing their Asian trading to Dealing Services’ HK desk,” he said.

Trading services will be available for all asset classes via a global network if experienced dealing teams, but equities is expected to have the greatest uptake of the service, says James, due largely to market structure evolution of recent years.

Although incorporated into BNP Paribas Securities Services, the French bank’s custodian arm, the Dealing Services team and infrastructure were previously part of FIN’AMS, an internal dealing unit that served a variety of fund managers within BNP Paribas Investment Partners. James was previously head of fixed income and FX at BNP Paribas Investment Partners.

The impact of MiFID in 2007 on equity market competition fundamentally shifted the needs of asset managers, and James believes similar trends are now well-established in bond trading.

“Equities trading has become increasingly complex with new regulation and technology increasing market fragmentation, while fixed income trading has undergone a similar fragmentation of liquidity since 2008, which has further stretched buy-side resources,” he said.

The service, which is already available for Paris and Hong Kong-based asset managers, is broker neutral.

Orders generated by PMs are sent via FIX or over a web-based platform directly into Dealing Services’ order management system (OMS). The OMS is programmed for each specific client to accommodate broker and benchmark preferences. PMs can also discuss their orders with the executing desk.

For buy-side firms, outsourcing of investment ands trading operations has traditionally been restricted to middle- and back-office processes on account of the need for a close working relationship between trader and PM to optimise the returns generated by investment ideas. In addition to measurable contributions to minimising trading costs, issues of relationship building and the value of adding ‘colour’ to the investment process by having an internal resource interacting with markets are among the barriers to outsourcing often cited by buy-side firms.

James, however, labels this latest step inevitable, reinforced by lower volumes of recent years and a plethora of impending regulation in Europe, such as MiFID II and the European market infrastructure regulation.

Paladyne and Broadridge add risk offering to platform

Paladyne and Broadridge have added a risk offering to their platform that they say will significantly broaden their solution set. Paladyne has secured the rights to the source code, development rights, and unlimited distribution rights for the Numerix Portfolio Risk product.

via Pocket May 03, 2013 at 02:05PM

CalPERS Committed To Sustainable Business Operations – Implementing New Solutions To Improve Overall Sustainability

The California Public Employees’ Retirement System (CalPERS) recently reported on its sustainable business program achievements along with new solutions to continue to improve its overall sustainability.

via Pocket May 03, 2013 at 02:04PM

Alpha trading platform moves to TMX Quantum™

April 29, 2013 (TORONTO) – TMX Group today announced the successful migration of Alpha to TMX Group’s proprietary trading engine, TMX Quantum. As part of TMX Group’s overall integration plan, Alpha now operates on the same platform as Toronto Stock Exchange, TSX Venture Exchange and TMX Select.

via Pocket May 03, 2013 at 02:00PM

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