Azul Systems Teams-Up with Rapid Addition to Deliver Low Latency, Jitter-Free Trading Engines

Rapid Addition, a leading provider of trading technology to buy- and sell-side financial institutions, has joined forces with Azul Systems, the award-winning supplier of high-performance and elastic Java Virtual Machines (JVMs).

via Pocket May 23, 2013 at 07:56PM


Social Trading : What We Can Learn From 50 Million Trades : 50 Million Traded Positions At eToro Establishes Social Trading As An Investment Alternative

eToro, the world’s largest social investment network, has reached the major landmark of 50 million trades by its users. This number shows the success of the company’s vision of making the financial markets accessible for everyone to trade in a simple and transparent way.

via Pocket May 23, 2013 at 07:52PM

Lloyds Bank becomes a dedicated market maker on ORB

London Stock Exchange today welcomed Lloyds Bank to open London’s markets to celebrate the company becoming a dedicated market maker on its Order book for Retail Bonds (ORB). Lloyds Bank will quote continuous two-way pricing throughout the trading day in gilts and corporate bonds listed on ORB.

via Pocket May 23, 2013 at 07:49PM

RIMES expands global buy-side customer network as demand for specialist managed data services soars

RIMES, a leader in data management for the buy-side, was selected during the first quarter of 2013 by some of the world’s leading investment managers seeking to enhance efficiency against a backdrop of a rapidly evolving data industry.

via Pocket May 23, 2013 at 07:43PM

Thailand’s SCB Asset Management Selects Charles River IMS and Integrated FIX Network

Charles River, an enterprise-wide front- and middle-office investment management solutions provider, today announced that SCB Asset Management Company Limited has selected the Charles River Investment Management Solution Version 9 (Charles River IMS) and broker-neutral Charles River FIX Network for

via Pocket May 23, 2013 at 07:41PM

Targeting Alpha With Analytics and Algorithmic Optimization

Targeting Alpha With Analytics and Algorithmic Optimization

Buy-side traders often struggle to stay in control of the algorithmic environment. To find alpha in today’s fragmented market, they need better auto-pilot functions, with monitoring tools and the ability to change course in the case of turbulence.
Today’s buy-side traders have become technicians, often struggling to stay in control of the algorithmic environment. There is an ever-expanding array of increasingly smart tools, but the default behavior is to use a limited set of the most familiar ones. Yesterday’s demand for a cockpit of manual controls is shifting to the need for better auto-pilot functions, with monitoring tools and the ability to change course in the case of turbulence. Does this sound like a high-touch service? It is, but for the low-touch buy-side trader.

The goal of algorithmic optimization is to deliver the kind of symbiotic relationship for low-touch trading that has always existed for the high-touch side. Leveraging predictive analytics, there is an opportunity to deliver the low-touch version of the top sales traders –including a well-rounded picture of the market, approaches on how to trade the order, a constant feedback loop and the ability to change course at any time.

[For more on algorithmic optimization in pursuit of alpha, download TABB Group’s recent research, “Alpha in the Analytics: Optimizing Algorithmic Strategies,” courtesy of Portware.]

Algorithmic trading in today’s fragmented marketplace poses many challenges for a buy-side trader simultaneously managing multiple orders. The decision about which algorithm to use demands a full understanding of the algorithms available and a constant need to ensure that at every moment during the order’s lifecycle, the optimal algorithm or algorithmic strategy is being deployed.

Tactical algorithms such as VWAP or TWAP are broadly available – workhorse algorithms that have a high level of predictability but limited purpose and function. Constantly optimized, they are reactive execution tools that accomplish a number of objectives, such as trading a basket of stocks, a futures hedge, or in conjunction with other execution strategies such as trading a block in the dark. For the most part, there may be little difference in the outcome from one broker’s algorithm to the next, and the onus is on the trader to constantly switch in and out of such algorithms as market conditions and the state of the order change.

Straddling individual broker algorithms is the notion of algorithmic optimization, using an engine that uses predictive analytics to switch automatically between algorithms. This enables an algorithmic strategy or intent to be set, and for the optimization engine to use all the algorithms available within a given broker’s suite for a particular order. In essence, this mimics the trader manually switching among a set of algorithms.

NASDAQ OMX Commodities Launches German Power Initiative – Significant Market Interest Evident From New Liquidity Providers, Brokers And Market Makers

NASDAQ OMX Commodities Launches German Power Initiative – Significant Market Interest Evident From New Liquidity Providers, Brokers And Market Makers

Date 22/05/2013
The German Power Initiative, aimed at making the German power market more transparent, liquid and cost effective, continues to receive strong market support. To date, 10 liquidity providers, 3 brokers and 1 market maker have signed on, since NASDAQ OMX Commodities invited members to participate in March. The German Power initiative is part of NASDAQ OMX’s overall commodities strategy to leverage its best in class technology platform and expand its presence in the three largest power markets in Europe.

With the increased focus on transparency by new regulations, exchange trading and clearing represents a great opportunity for NASDAQ OMX Commodities in Europe. With this initiative, NASDAQ OMX plans to build on its proven success in the Nordic power market and the N2EX offering in the UK.
Namesh Hansjee, Head of EMEA Energy and Global Coal/Freight Trading at BofA Merrill Lynch, said, “We welcome NASDAQ OMX’s offering of cost effective cleared products for the German power market, and we are pleased to support this initiative as a liquidity provider.”
Mr. Raphael Brun, Director of European Power at Citigroup said,”We believe the market and our customers will benefit from higher levels of competition. The NASDAQ OMX initiative responds to a strong market demand for a transparent, cross-market approach in a low fee environment”.
In addition to BofA Merrill Lynch and Citigroup, the liquidity providers supporting the German Power Initiative are EDF Trading, JP Morgan, Axpo Nordic, Mercuria Energy Trading, Statkraft Energi, Dong Naturgas, Einar Aas, and one player that wishes to remain anonymous.
Bjørn Sibbern, Head of NASDAQ OMX Commodities, said, “NASDAQ OMX continues to expand its presence in Europe and we are very pleased to offer a suite of products for improving liquidity and transparency in the German power market. At this time, we are particularly pleased to welcome several new liquidity providers, brokers and market makers that will greatly contribute to develop a more liquid and efficient German power derivatives market.”
NASDAQ OMX’s German product offering now includes German Power Futures and Forward contracts and European Style Options with monthly, quarterly and yearly expiration for German Power Futures and Forwards. The extended forward curve covers six monthly, 8-11 quarterly and five yearly contracts, in addition to the daily and weekly futures contracts.
Electricity Price Area Differential Contracts (CfDs) will be offered this June and will enable traders from Continental European power markets to hedge the basis risk between the German system price and neighbouring price areas (FR, NL, CZ and BE) by trading the relevant CfD.

Numerix Leading Hedge Insurance Solution Enhanced for Breakthrough Performance Optimization

Numerix Dramatically Reduces Calculation Time for Insurance Solvency Regulations Numerix, the leading provider of cross-asset analytics for derivatives valuations and risk management today announced new functionality and innovation now available in Numerix Leading Hedge, an enterprise solution for

via Pocket May 23, 2013 at 07:35PM

European energy exchanges compete for Turkish growth

ISTANBUL May 21 (Reuters) – European energy exchanges ICE Endex and EEX are competing for a slice of Turkey’s booming power market as the country prepares to open its first electricity exchange, executives from the companies said on Tuesday.

via Pocket May 23, 2013 at 07:34PM

Commodities traders acquire power stations

Commodities traders acquire power stations
Javier Blas, Commodities Editor –
The Swiss-based commodities traders are expanding into assets, buying or leasing anything from refineries to pipelines and terminals. Now Vitol, the largest oil trader, has bought a power station, signalling the return of the independent trading houses to the power generation sector. The acquisition suggests the return of the independent trading houses to the power stations sector, roughly 10 years after the collapse of the US electricity trading industry, which included names such as Enron, Dynergy, Mirant and Williams.

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