NYSE-ATG venture in Brazil aims to bring in new partners

NYSE-ATG venture in Brazil aims to bring in new partners


Americas Trading System Brasil, a joint venture of NYSE Euronext and Americas Trading Group, or ATG, has requested authorisation to begin operations in Brazil, the company said in a statement Wednesday morning.


If approved, ATS Brasil plans to start operations in the first half of 2014, and become the first exchange in more than a decade to compete with BM&FBovespa.

ATS Brasil chief executive officer Alan Gandelman said in interview it expects to have approval from Brazil’s securities and exchange regulator, or CVM, in up to around six months. The company aims to have a 15% share of the Brazilian equity market within two years of starting up.

The value of equities trading on Brazil’s sole stock-exchange operator, BM&FBovespa, hit a record 1.78 trillion reals ($820bn) in 2012.

ATG owns 80% of ATS Brasil. NYSE Technologies, the technology arm of NYSE Euronext, has a 20% stake.


Those stakes will likely change in coming months because ATS Brasil intends to sign as many as eight local and international banks and money management firms as partners to ensure a higher trading volume once the exchange starts to operate, Gandelman said.

The new partners, called liquidity partners, will collectively take an equity stake of as much as 24% in ATS, Gandelman said, noting it hasn’t yet been decided how much ATG’s and NYSE’s stakes will be diluted.

Talks are in an advanced stage and the partnerships with the financial institutions will likely have been decided by the end of July, the executive noted.

ATS Brasil will initially trade only equities and soon after will also offer equities derivatives, the CEO said.


The company could also in future extend its operations to other countries in the region, although currently this is only a possibility, Mr. Gandelman said.

ATG, which provides electronic trading products, was established in 2010 and is already connected to stock exchanges across Latin America, with the exception of Argentina and Venezuela.

ATS Brasil is preparing to enter the Brazilian market at a time of losses for local shares. The benchmark Ibovespa stocks index is down close to 20% year-to-date amid worries about slow economic growth and persistent high inflation. There are also concerns the US Federal Reserve might announce an easing of its bond-buying policy, which could lead to an even stronger US dollar and a reversal of investment flows from emerging markets to the US.

“The outlook for local stocks is not favorable, at least for the next year,” said Joao Pedro Brugger, an analyst at Brazil’s brokerage Leme Investimentos. “In the long run, however, we have a positive view of the Brazilian market and believe it will benefit from having another stock exchange,” Brugger said.


“We believe we are coming to Brazil in an interesting time as we expect investors to come back to the stock exchanges in short or medium term,” Gandelman said, noting that he believes recent losses have been exaggerated.

A few other international companies have shown an interest in entering the Brazilian market, but their plans haven’t yet moved forward.

New Jersey-based Direct Edge Holdings has delayed plans to request an operating license, but says it continues working on it.

One major obstacle to new arrivals is the lack of access to a clearinghouse, where equities trades are processed. BM&FBovespa owns the only clearinghouse in Brazil, but it has said several times it’s not yet opened to the possibility of allowing competitors to use its system.


ATS Brasil has already found a solution to clear its trading without the use of local stock exchange, Gandelman said, though he didn’t give more details on the alternative.

Kansas-based BATS Global Markets and asset management firm Claritas have said they were studying the possibility of launching a competitor to BM&FBovespa, but plans haven’t advanced.

BATS faced problems of its own after announcing that errors on its exchange went undetected for years. According to the company those errors “turned out to be a minor issue, costing customers a total of $17,000 over four years.”

–write to luciana.magalhaes@dowjones.com


This article first appeared in the Wall Street Journal [ http://on.wsj.com/17p74gc ]


NYSE Technologies extends into Equinix IBX in Hong Kong & Tokyo

NYSE Technologies extends into Equinix IBX in Hong Kong & Tokyo


First Published 21st May 2013

NYSE Technologies now offers direct access to SFTI Access centres inside eight Equinix data centres

Singapore – NYSE Technologies, the commercial technology unit of NYSE Euronext, has extended its trading network into Equinix’s International Business Exchange data centres in Hong Kong and Tokyo.

The extension of NYSE Technologies’ Secure Financial Transaction Infrastructure (SFTI) will allow direct connection from Hong Kong and Tokyo to services offered by NYSE Technologies and access a range of financial markets, market data and post-trade services.

NYSE Technologies now offers direct access to SFTI Access centres inside eight Equinix data centres in seven key markets including New York, Chicago, Singapore, Frankfurt, London, Hong Kong and Tokyo.

Ian Jack, global head of infrastructure for the Secure Financial Transaction Infrastructure NYSE Technologies said: “We are very pleased to be extending the SFTI backbone into Equinix’s data centre in Hong Kong and providing direct metro access in Tokyo, both key financial hubs in Asia. Our SFTI Access centres in Equinix’s data centres in Hong Kong, Tokyo and Singapore allow customers to connect to regional and global exchanges and markets in a cost effective way through a single connection at each of their locations around the region.”

David Wilkinson, senior director, Financial Services, Equinix Asia-Pacific added: “With the deployment of NYSE Technologies’ SFTI Access centres in Hong Kong and connectivity in Tokyo our financial ecosystem becomes even stronger and more valuable for both new and current financial participants accessing financial markets. Our established ecosystem of financial participants also presents an immediate market opportunity to NYSE Technologies, further facilitating its penetration into Hong Kong and Tokyo.”


Horizon Software’s new gateway available to Warsaw Stock Exchange


First Published Friday, 22nd March 2013 from Automated Trader : Exchange News

Horizon Software announces new gateway for connectivity to Warsaw Stock Exchange, ready for go-live in April

Paris – Horizon Software, the provider of front end trading solutions, has announced the availability of its new gateway to Warsaw Stock Exchange UTP platform, ready for the go-live in April 2013.

Patrick Archer, Sales Director at Horizon Software, says “We are continuously working on extending our market coverage to answer the needs of our customers. Europe is the strongest market for Horizon Software but we are aware that covering new countries strengthens our position with leading financial actors.”

Horizon Software, via its subsidiary Horizon Connect (previously known as Ingalys), is one of the first companies to be certified for the new Warsaw Exchange UTP platform. UTP (Universal Trading Platform) is a trading system acquired from NYSE Technologies. For individual investors, UTP will mainly offer new trading opportunities: new types of orders and different designations of the time of execution.

“Our hard work with Warsaw Exchange has been very successful; we have taken benefit of our experience with Euronext UTP platform. This should result in a promising use of our high-frequency trading solutions such as Horizon Algo Trader on this fast-growing market” adds Patrick Archer.

Nyse Technologies turns on social media hosepipe

From this quarter Nyse Technologies will be the exclusive reseller of the SMA (Social Market Analytics) patent-pending Sentiment Signature Feed social media monitoring engine.

via Pocket http://www.finextra.com/News/FullStory.aspx?newsitemid=24550 February 14, 2013 at 06:41PM

NYSE Technologies Puts Cloud Middleware Out in the Open

NYSE Technologies said it had donated a piece of code that sits in between applications and operating systems, so that trading, market data and other programs can be “openly” created, at low cost, for use on computing clouds.

via Pocket http://www.securitiestechnologymonitor.com/news/save-29466-1.html January 23, 2013 at 01:51PM

Intercontinental Exchange to Acquire NYSE Euronext official announcement – 03/01/2013

…………..I wanted to share with you the highlights of this morning’s announcement that NYSE Euronext has agreed to a transaction that will result in the company being acquired by the Intercontinental Exchange (ICE). The combination of these two highly complementary businesses is a very positive development for NYSE Euronext and its future, and will considerably improve our equity and derivatives platforms.

As you know, ICE is one of the world’s leading global operators of markets and clearing platforms, with a leading position in the regulated futures, energy commodities, soft commodities and agricultural commodities and OTC markets, as well as a robust clearing business. With a global footprint and customer base, ICE has a deep experience in running transparent global markets, and a strong track record in innovation, growth and transparency.

ICE is committed to preserving the NYSE Euronext brand. ICE will maintain dual headquarters in Atlanta and New York. New York headquarters will be located in the Wall Street building, home to the iconic trading floor. ICE will also open a new midtown Manhattan office in June 2013.

Combining these two highly complementary businesses will create a global exchange player with a particularly strong and diverse global derivatives franchise. The combined company would enjoy both a strong global brand and a diversified business that would be very well positioned to strategically compete and serve a global client base.

We expect that the new company will be able to deliver significant benefits to our customers in the form of direct cost savings as we optimize and build upon our respective technology, infrastructure and global operations. As a result, the combined company will be financially strong, diversified across a broad range of asset classes, and well positioned to continue to drive innovation and capture future global growth opportunities.

With regard to our clearing plans for the London market of NYSE Liffe (NYSE Liffe), after careful consideration we do not believe it is possible to pursue our existing own build clearing house project while the ICE merger is pending. Separately from the merger, we have therefore reached a definitive agreement with ICE to fully transition NYSE Liffe’s clearing arrangements to ICE Clear, subject to regulatory approval. This will provide our customers with seamless access to the regulated services of an existing, top quality clearing platform with all the attendant benefits. It is anticipated that today’s announcement will leave the clearing arrangements for European cash equities unchanged from today.

This is exciting news, and I look forward to sharing more information with you shortly. As was announced this morning, the transaction is expected to close in the second half of 2013. In the interim, it will be business as usual, and you can expect us to continue providing you the same levels of excellent service that you have come to expect and rely upon.

Please click here to view a copy of today’s announcement. I look forward to speaking with you soon.


Jan-Michiel Hessels, Chairman of the Board Duncan L Niederauer, Chief Executive Officer

Advanced Trading

Top Story Exclusive: Inside the GETCO Execution Services Trading Floor Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.

via Pocket http://www.advancedtrading.com/articles/226800350 December 31, 2012 at 02:59PM

NYSE Technologies Expands Connectivity into China

NYSE Technologies, the global commercial technology unit of NYSE Euronext, announced that Shanghai Stock Communications, a wholly owned subsidiary of the Shanghai Stock Exchange, will establish a connection to the NYSE Technologies Marketplace for FIX order routing services.

via Pocket http://www.wallstreetandtech.com/articles/229625539 December 31, 2012 at 02:58PM

NYSE Technologies Launches Capital Markets Cloud Community Platform

It’s no secret that capital markets firms have slow to adopt public cloud technology offerings because of concerns over reliability, security of data and potential headaches from strict industry regulators.

via Pocket http://www.wallstreetandtech.com/articles/229700272 December 31, 2012 at 02:58PM

NYSE Loosens Liquidity Centre Access

While there are no official statements being issued, inside word suggests that NYSE Euronext is loosening the restrictions previously in place on network access to its liquidity centres.

via Pocket http://low-latency.com/blog/nyse-loosens-liquidity-centre-access December 28, 2012 at 07:31PM

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