Interactive Data And DelphX Team Up To Provide Real-Time Pricing To Fixed Income Market

U.S.

via Pocket http://www.bobsguide.com//guide/news/2013/Jun/11/interactive-data-and-delphx-team-up-to-provide-real-time-pricing-to-fixed-income-market.html June 15, 2013 at 07:10PM

ConvergEx Group’s LiquidPoint Launches iRBM™ and iRBH™

ConvergEx Group’s LiquidPoint Launches iRBM™ and iRBH™

http://atmonitor.co.uk/news/newsview.aspx?title=convergex-group-s-liquidpoint-launches-irbm-and-irbh

 

Published on   Jun 05, 2013

New Intraday, Real-Time Risk-Based Portfolio Margining and Risk-Based Haircut Tools

New York, June 5, 2013 – ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that LiquidPoint has launched iRBM™ to provide real-time TIMS based portfolio margin estimates and iRBH™ to provide real-time TIMS haircut estimates. The new tools offer more effective intraday capital management and help customers bolster their ability to meet minute-by-minute capital monitoring requirements.

iRBM and iRBH are powered by LDB and built on top of the low latency LiquidPoint BLAZE .net architecture. They allow customers to calculate intraday margin and haircut estimates based on current prices, intraday positions and real-time volatilities. This application service architecture ensures that existing LDB users have a seamless experience in running intraday valuations.

“Market movements, volatility swings and positions changes can alter risk profiles significantly,” said Anthony Saliba, chief executive officer of ConvergEx’s LiquidPoint. “By offering intraday calculations, we are empowering risk managers to identify those positions when it matters most – when it happens.”

ConvergEx’s LiquidPoint offers flexible, customizable and comprehensive solutions, specifically designed to meet the diverse needs of institutional options traders.

LDB develops software that assists financial accounting and regulatory reporting staff within the securities industry to calculate and optimize capital charges, including security haircuts and margins, both portfolio margin and FINRA Rule 4210 option margin requirements.

Direct Edge Selects FINRA for Market Surveillance

With the Addition of Direct Edge, FINRA Will Have Surveillance Oversight of More Than 90% of U.S. Equities Trading JERSEY CITY, NJ and WASHINGTON, DC — Direct Edge®, the third largest stock exchange operator in the U.S.

via Pocket http://www.finra.org/Newsroom/NewsReleases/2013/P265419 May 23, 2013 at 06:51PM

FINRA Proposes Exemption for Exchanges on Market-Making Payments

The Financial Industry Regulatory Authority has signaled to the Securities and Exchange Commission that it is prepared to amend its rule that prohibits payments for making markets in securities, to allow exchanges to make such payments under certain conditions.

via Pocket http://www.tradersmagazine.com/news/finra-exemption-exchanges-market-making-payments-111113-1.html April 26, 2013 at 12:18AM

Perseus Rolls Certified Time Service for Regulatory Compliance, Algo Trading

Perseus Telecom has rolled out a certified time service to allow trading firms to accurately timestamp market data and transactions for regulatory and algorithmic trading purposes.

via Pocket http://low-latency.com/blog/perseus-rolls-certified-time-service-regulatory-compliance-algo-trading April 04, 2013 at 10:15PM

New SEC rules aim to minimise trading errors

The Securities and Exchange Commission (SEC) has proposed new rules that will require operators of trading systems, market data disseminators and some clearing agencies to establish processes to ensure technological stability.

via Pocket http://www.thetradenews.com/news/Regions/Americas/New_SEC_rules_aim_to_minimise_trading_errors.aspx March 18, 2013 at 09:26PM

SEC moves to clarify social media rules

Under the rules, mutual funds and other investment companies are required to file certain advertisements for review by the Financial Industry Regulatory Authority (Finra).

via Pocket http://finextra.com/News/FullStory.aspx?newsitemid=24641 March 18, 2013 at 07:07PM

CAT’s eyes on the US market (or Consolidated Audit Trail SEC Rule 613)

CAT’s eyes on the US market

Posted by Jess Haberman, Fidessa on  Mar 12, 2013

While Europe still doesn’t have a consolidated post-trade tape, US regulators are moving forward with an ambitious plan that will eventually provide them with a detailed view of the entire market, readily available on a next-day basis. After the usual drawn-out process to approve SEC Rule 613, the industry has started work on the Consolidated Audit Trail, or CAT.

The SEC has charged the seventeen US national securities exchanges and independent regulator FINRA (collectively the SROs, or self-regulatory organizations) to come up with the plan to develop this comprehensive audit trail of orders that will allow regulators to track all activity in NMS securities throughout the US markets.

Last week thirty-one companies, including exchange operators BATS Global Markets, the NYSE Technologies unit of NYSE Euronext and Nasdaq OMX, as well as FINRA (the industry regulator), Google and IBM, indicated they plan to submit bids, via an RFP process, to build and operate the CAT.

FINRA hosted a meeting in New York last Friday for these companies to discuss the bidding process.

RFPs are due by April 25 and the exchanges and FINRA expect to “preliminarily” select the successful bidder by July. Broker-dealers may need to start reporting CAT information sometime in 2015

Google to Face Off with FINRA, Exchanges in Audit Trail Bidding

http://www.securitiestechnologymonitor.com/news/google-to-face-off-with-finra-exchanges-in-audit-trail-bidding-31629-1.html?ET=securitiesindustry:e4229:190117a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=STM_BNA_08302010_030613.

March 6, 2013
Tom Steinert-Threlkeld

Google, operator of the dominant set of data centers for indexing and searching for content on the World Wide Web, said it intends to submit a bid to build a consolidated audit trail of all stock and options quotes, orders and trade details for the Securities and Exchange Commission.

The Internet search giant will face off with a who’s who of the securities industry, including NYSE Technologies, the commercial arm of the company that owns the New York Stock Exchange; Nasdaq OMX Group, its chief rival in selling trading technology to exchanges around the world; and BATS Global Markets, an eight-year-old company that has used high-speed trading systems to take over about 10 percent of the nation’s trading in stocks on its two all-electronic national exchanges.

Industry Regulatory Authority, the regulator of brokers whose chief executive, Richard Ketchum, signaled in early 2010 an interest in creating and managing a database that would hold all the nation’s trading details for review by itself and the Securities and Exchange Commission.

FINRA, BATS, Nasdaq and NYSE Euronext all face potential conflicts of interest in submitting their bids. They all are part of the industry group charged by the SEC with formulating the overall plan to create the audit trail and pick the best bid to produce and manage the system.

“For many good reasons including technical and market expertise, the SEC tasked the exchanges to develop and manage the Consolidated Audit Trail process under its oversight and approval,’’ said Richard Adamonis, senior vice president of corporate communications at NYSE Euronext, owner of NYSE Technologies. “The proposal, like the entire process, is highly transparent and open for public comment.”

The potential conflicts are not likely to be show-stoppers, however. “If they end up going with a firm that is part of the working group, they will have to come out with clear criteria in terms of how they won the project,” said Sang Lee, managing partner of industry consultancy Aite Group. “I would say it is almost a disadvantage to be on the working group and also a bidder. At least, (such a bidder would) have a higher public perception hurdle to overcome.”

The audit trail plan is a response to the May 6, 2010, flash crash, which revealed how ill-equipped the nation’s regulators were to analyze market disruptions.

The staffs of the SEC and the Commodity Futures Trading Commission took five months to piece together details of what happened on that date to trigger a 600-point drop in the Dow Jones Industrial Average in a matter of minutes that afternoon; and, a similarly speedy bounceback.

Also announcing their intents to bid are a variety of the industry’s best-known technology suppliers, including SunGard Data Systems, Cinnober Financial Technology and Tradeworx, which is already creating a real-time database of trade details on public markets for the SEC; financial information service Thomson Reuters; consultancies that include Capgemini Financial Services, Grant Thornton, Wipro, Infosys, and Sapient; and the International Business Machines Corporation, the largest provider of information systems services.

Google to Face Off with FINRA, Exchanges in Audit Trail Bidding

Google, operator of the dominant set of data centers for indexing and searching for content on the World Wide Web, said it intends to submit a bid to build a consolidated audit trail of all stock and options quotes, orders and trade details for the Securities and Exchange Commission.

via Pocket http://www.securitiestechnologymonitor.com/news/google-to-face-off-with-finra-exchanges-in-audit-trail-bidding-31629-1.html?ET=securitiesindustry:e4229:190117a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=STM_BNA_08302010_030613 March 06, 2013 at 09:04PM