Quam joins CME Group’s Hong Kong hub


Quam Securities, the brokerage arm of Hong Kong-based financial services group Quam Limited, has registered with the Hong Kong telecommunications hub of Chicago Mercantile Exchange enabling it to access the CME Globex trading platform.

via Pocket http://www.hedgeweek.com/2013/07/23/187736/quam-joins-cme-group%E2%80%99s-hong-kong-hub July 27, 2013 at 03:43PM

Linedata, Alpha Omega form alliance on post- trade processing solutions


Linedata, the global solutions provider dedicated to the investment management and credit industries, and Alpha Omega Financial Systems, provider of FIX protocol based post-trade software solutions, have formed a partnership which will provide buy side clients with another alternative to supportin

via Pocket http://www.theasset.com/article.php?news=TA&id=24643 July 09, 2013 at 07:25PM

Borsa Istanbul partners with Nasdaq OMX


Nasdaq OMX has signed an agreement to bolster Turkey’s Borsa Istanbul and turn it into a major trading hub. Under the partnership agreement, Nasdaq OMX will provide Borsa Istanbul with an extensive range of its technology and the two will actively collaborate in the region.

via Pocket http://www.thetradenews.com/news/Regions/Europe/Borsa_Istanbul_partners_with_Nasdaq_OMX.aspx July 03, 2013 at 07:11PM

The Iraq Stock Exchange Upgrades to NASDAQ OMX’s X-Stream Technology


NEW YORK and BAGHDAD, Iraq, June 28, 2013 (GLOBE NEWSWIRE) — The NASDAQ OMX Group (NDAQ) has entered an agreement with the Iraq Stock Exchange (ISX) to upgrade its current trading platform.

via Pocket http://finance.yahoo.com/news/iraq-stock-exchange-upgrades-nasdaq-110000449.html July 01, 2013 at 06:56PM

FastMatch Launches Matching Engine in Equinix LD4 Data Center in London


FastMatch Launches Matching Engine in Equinix LD4 Data Center in London

http://low-latency.com/article/fastmatch-launches-matching-engine-equinix-ld4-data-center-london/?utm_source=weekly&utm_medium=email&utm_campaign=ll_13-06-20

Equinix, the global interconnection and data center company, together with FastMatch, an Electronic Communication Network (ECN) for foreign exchange trading, today announced the launch of a new ECN matching engine in Equinix’s London Slough International Business Exchange (IBX) data center campus.

FastMatch currently operates its FX Spot and metals ECN matching engine from the Equinix NY4 data center in New York. The additional matching engine in London will offer FastMatch clients in the European region access to real-time transparent quotes and trade information, as well as complete redundancy to the platform.

As trading markets become more interrelated, investors are seeking local access to a wider range of asset classes and instruments in order to effectively manage risk in an increasingly complex and competitive environment. By deploying among the growing financial ecosystem inside Equinix, FastMatch makes its systems directly accessible alongside a wide range of other venues, data providers and financial institutions, allowing investors greater choice and flexibility.

FastMatch clients can trade across an array of unique liquidity sub-pools each governed by its own distinct rules of trading. FastMatch also enables institutional clients to easily transact large sizes with minimum market impact by using order types like hidden pegged to midpoint, reserve and minimum quantity.

The FastMatch ECN is based on technology that underpins the world’s largest equities crossing system, the Credit Suisse Crossfinder matching engine, which has been re-tooled and tailored to meet the needs of global foreign exchange markets.

FastMatch launched in the summer of 2012 and is a joint venture of FXCM, Inc. and Credit Suisse Group AG, later adding Bank of New York Mellon as a third backer in 2013. The company strives to offer its customers access to large pools of diversified liquidity at unparalleled speed with complete transparency in an optimal location.

Dmitri Galinov, CEO, FastMatch: “London is an FX trading capital of the world, yet traders in Europe currently have no access to real-time quotations or trades from any major FX ECN. The prices are either intentionally delayed or coming from the United States. We are excited to deliver real-time transparency to this previously underserved region.”

Stewart Orrell, managing director, Global Capital Markets, Equinix: “As the Equinix financial ecosystem continues to globalize, we’re seeing more trading venues deploy multiple storefronts in various cities to extend their ability to reach market participants around the world. With the launch of its matching service in the Slough campus, FastMatch is certainly on the right track to gain a competitive edge in today’s global marketplace.”

 

Prism Valuation Enhances Lat-Am Derivative Valuation Service


Prism Valuation Enhances Lat-Am Derivative Valuation Service

http://www.bobsguide.com/guide/news/2013/Jun/17/prism-valuation-enhances-lat-am-derivative-valuation-service.html

Prism Valuation has recently introduced two enhancements to its Derivative Valuation Service for Lat-Am products. Firstly, it now offers its clients the choice of discounting valuations for Brazilian Real (BRL) CDI zero coupon swaps using a curve constructed from USD/BRL non-deliverable forwards and swaps. This is in addition to the already existing option of allowing forecasting of the forward CDI rates using either an on-shore or an off-shore curve.

The non-deliverable curve discounting option is now being delivered to several clients trading these instruments. In addition, Prism has recently added support for the valuation of Colombian Peso (COP) OIS swaps, which can also be discounted using deliverable or non-deliverable curves. In addition to BRL and COP, Prism currently delivers IRS and other derivative valuations for Chilean Peso (CLP), Mexican Peso (MXN) and Peruvian Nuevo Sol (PEN) in the Lat-Am region.

“Supporting non-deliverable discounting for BRL and other Lat-Am and Asian interest rate swap types reflects Prism’s continuing commitment to providing a flexible, robust framework to meet clients’ derivative valuation requirements. We are always willing to make the effort to broaden our coverage and utilize emerging methodologies in order to deliver the best possible service” comments Keldon Drudge, CEO.

 

SmartStream partner with Alliance Factors to further support the Russian market


SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced a partnership with Alliance Factors, a financial services solutions provider and SWIFT service bureau, based in Russia – to meet the demands of a growing client base in the region.

via Pocket http://www.bobsguide.com//guide/news/2013/Jun/11/smartstream-partner-with-alliance-factors-to-further-support-the-russian-market.html June 15, 2013 at 07:33PM

HL Steam teams up with BlueBee in FPGA initiative


HL Steam teams up with BlueBee in FPGA initiative

http://hlsteam.com/hl-steam-teams-up-with-bluebee-for-hardware-acceleration/

HL Steam are teaming up with BlueBee in an Anglo-Dutch initiative to port the Ancoa market integrity platform towards FPGA-accelerated computer architectures.

The architectures in question here include the Convey HC-2ex, which contains:

  • 4 Intel processors of 8 cores each
  • 4 Xilinx FPGA blades
  • 64GB RAM memory
  • 80GB internal bandwith

The main goal of the project is to demonstrate that it is possible with FPGA to more efficiently process real world workloads of financial trading data at a lower cost, both in dollar and in energy terms, reducing both capital and operational expenditure.

As we see it, processing big data in financial markets requires a diverse computational approach. This means that using general purpose processors (CPUs) exclusively will not give you optimal performance. Certain parts of the processing will be better handled using GPUs, or other types of processor, if those operations need to be done on a large number of data elements in parallel.

Field-Programmable Gate Arrays (FPGA) are becoming an increasingly popular computing option, as they combine the speed and energy efficiency of hardware, with the programmability and usability of general purpose processors (CPUs).

FPGAs have been around for over 25 years, but can be notoriously difficult to program in a flexible, generic way, which is one reason why they have yet to gain the widespread popularity of GPUs despite offering great performance gains over CPUs and energy advantages.

Bluebee, a spin-off from Delft University of Technology and Imperial College, has developed a methodology to substantially increase the ease and flexibility with which platforms with heterogeneous computing elements (including FPGA) can be programmed.

The challenge here is in finding the right mapping of the application to the different processing elements, and with FPGA acceleration, to have hardware implementations of those functions for which substantial speedups are possible.

Prof Koen Bertels, CEO of Bluebee, is delighted to work with HL Steam, a London-based team who are taking a unique data-centric approach to market integrity in financial markets.

The two companies complement each other’s expertise in hardware and software, and form an ideal fit for BlueBee to prove the possibility of a significant increase in computing performance, by making FPGA available to big data applications in finance.

For further information please contact:

Prof. Koen Bertels, CEO BlueBee
Minderbroerstraat 26
2611 MV Delft
The Netherlands
www.bluebee.com

Stefan Hendrickx, CEO HL Steam
The Generator Business Centre
Unit 13, 95 Miles Road
London CR4 3FH
United Kingdom
www.hlsteam.com
+44 20 8408 1610

Hong Kong Subsidiary Opened by MIG Bank


Switzerland’s MIG Bank has opened a new brokerage subsidiary in Hong Kong, MIG Capital Asia Limited. The office will be MIG Bank’s hub as it seeks to expand in Asia and improve its broking, foreign exchange (FX) and other services for the Asian financial markets.

via Pocket http://www.bobsguide.com//guide/news/2013/Jun/5/hong-kong-subsidiary-opened-by-mig-bank.html June 06, 2013 at 06:48PM

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

logo
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.”

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