GETCO AND KNIGHT COMBINE ON NYSE AS DESIGNATED MARKET MAKERS


About GETCOFounded in 1999, GETCO is a leading global market maker with over 400 Associates located in Chicago, New York, Palo Alto, London, Singapore and Hong Kong. The firm’s primary business involves both buying and selling securities to provide two-sided markets on exchanges around the world.

via Pocket http://www.nyse.com/press/1372416110357.html June 29, 2013 at 01:52PM

WOOD & Company Financial Services joins SGN


WOOD & Company Financial Services joins SGN

http://www.automatedtrader.net/news/at/142805/wood–company-financial-services-joins-sgn

First Published 3rd June 2013

Prague based broker joins SunGard Global Network

WOOD & Company Financial Services, a Prague-based broker with additional offices in Warsaw, London and Bratislava, has joined the SunGard Global Network (SGN) for international trading and connectivity.

WOOD will offer SGN members access to the stock exchanges of Budapest, Bucharest, Euronext (Amsterdam, Brussels, Lisbon, and Paris), Istanbul, Ljubljana, London, NASDAQ, NYSE, Prague, Vienna, Warsaw and Zagreb through this new connection.

“A number of financial institutions around the world are looking at Central and Eastern Europe to provide new opportunities and growth. In order to consolidate our leading position in the region, WOOD has chosen to leverage the SunGard Global Network to offer our clients reliable technology, a wealth of contacts, and strong regional expertise.” – Rupert Wood, Head of Equities, WOOD

EnterNext®, NYSE Euronext’s new SME marketplace, goes live


Amsterdam, Brussels, Lisbon, Paris – – NYSE Euronext (NYX) today announced the opening of EnterNext®, its marketplace for SMEs.

via Pocket https://europeanequities.nyx.com/en/product-news/enternext-nyse-euronexts-new-sme-marketplace-goes-live May 25, 2013 at 10:38PM

NYSE Technologies extends into Equinix IBX in Hong Kong & Tokyo


NYSE Technologies extends into Equinix IBX in Hong Kong & Tokyo

http://www.automatedtrader.net/news/at/142725/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.”

 

Warsaw Bourse Switches to NYSE Platform as Volumes Surge


The operator entered a strategic partnership with NYSE Euronext in 2010 and bought its Universal Trading Platform, which enables high-frequency transactions.

via Pocket http://www.bloomberg.com/news/2013-04-15/warsaw-bourse-switches-to-nyse-platform-as-volumes-surge.html April 20, 2013 at 03:04PM

Exchanges Are Moving to Curb Private Trades


The chief executives of the three largest stock exchanges are joining forces for the first time to push regulators to rein in the increasing amount of trading that is moving off public exchanges and onto platforms like so-called dark pools.

via Pocket http://dealbook.nytimes.com/2013/04/08/exchanges-are-moving-to-curb-private-trades/ April 10, 2013 at 10:35PM

What the ICE/NYSE Merger Means for the Industry courtesy of the TABB Group


With each passing day, the acquisition of NYSE Euronext by ICE seems more likely to receive final approval. Here are 5 ways the deal will impact the capital markets.

February 15, 2013, marked the end of the Hart-Scott-Rodino Act waiting period in the acquisition of NYSE Euronext by IntercontinentalExchange(ICE). With each passing day, the acquisition seems more likely to receive final approval. As we await the next phase of regulatory approval from the SEC, we wanted to share a few thoughts on how we believe the acquisition will impact current clearing, reporting and trading operations, as well as how the two exchanges can benefit from the merger.

1. Need for Physical Trading Floor

The future format of the NYSE trading floor seems to be on the minds of everyone. There are analyst speculations that ICE’s CEO, Jeffrey Sprecher, will close the trading floor, as was done to the New York Board of Trade in 2012 four years after it was acquired by ICE. However, according to interviews, Sprecher has expressed intentions to keep the physical trading floor intact.

[Related: “It May Be ‘Bye-Bye to the Big Board,’ But the NY Times Should Get Its Story Right”]

Both companies have robust electronic trading, and Sprecher has acknowledged the value of NYSE’s legacy in voice brokering. As technology continues to dominate the exchange space, there has been recognition of the value of voice brokering (by which the NYSE is defined). The market has ironically become too complex to rely only on computer-to-computer trading, showing the physical trading floor still provides an intrinsic value in keeping an orderly marketplace.

2. Impact on Clearing

US-based firms that are major players in the derivative space will benefit by having a local trading and clearing venue, through reductions in clearing costs and operational risks. Typically, coordinating multiple back-office processes and reconciliations between the US and UK calls for duplicate efforts, resulting in back-to-back bookings to flatten balance sheets and delays in handling breaks; having the ability to manage these operational processes will make for a more efficient process.

Title VII of the Dodd Frank Act, which requires central clearing for certain derivatives contracts, has limited NYSE’s presence in the US-based interest rate swaps clearing business. Currently, the NYSE has a small presence in the US-based interest rate swap clearing business, due to a lack of access to a central clearinghouse, now mandated by the Dodd-Frank Act. Through the acquisition, NYSE will be able to benefit from ICE’s presence in European fixed income derivative trading and clearing.

3. Impact on Market Participants

Reductions in clearing costs can translate into cost savings for market participants. Just last year, ICE had to increase its trading and clearing fee due to “regulatory burdens,” and with the merger of NYSE Euronext, ICE will also have to compete with other exchanges on transaction costs. Even if fees increase after the merger, market participants would still fare better than if the two companies operated independently. This newly merged exchange will be able to offer a larger array of products and services, so that market participants can look to fewer companies for trading execution and clearing services, thereby decreasing expenses associated with initial client on-boarding.

4. Impact on Reporting

NYSE’s core data products make U.S. market data free and available, using consolidated tapes, giving transparency to last-sales price and quotes. It also sells its non-core data products to analytics traders, researchers and academics. ICE will be able to leverage NYSE’s experience in data reporting, as it looks to setup its own swap data repository (SDR), in order to meet CFTC mandates for real time swap reporting.

[Related: “Commissioner O’Malia Talks Derivatives Reform: Assessing and Improving the Change”]

ICE has already set up a registered SDR — and the ICE Trade Vault, which will offer both recordkeeping and reporting services for credit default swaps. However, as reporting requirements go live for additional asset classes, it will be necessary to offer data recordkeeping and reporting services to these as well. This is where NYSE’s existing core data products can benefit ICE.

5. Benefits in Merging of Exchanges

Although ICE and NYSE’s product offerings differ vastly, the functions of trading, clearing and settlement demands often overlap, and both are registered with the CFTC as designated contract markets. Efficiencies can be gained when these two exchanges tackle the requirements in swaps reporting and recordkeeping, external business conduct rules and documentation standards in this era of heightened standards for SIFI. As regulatory mandates increase the operating costs for exchanges, it is becoming prudent to explore additional mergers.

‘Opening Doors’ of Data Centers Improves the Market courtesy of The TABB Group


NYSE Euronext’s move to open its Mahwah data center to third-party carriers is a game-changer for financial firms regarding cost, latency and market-to-market connectivity.
The NYSE liquidity center in Mahwah, NJ, opened its “doors” to diverse carriers for the first time on March 1, 2013. This highly anticipated move created opportunity for financial firms seeking alternate fiber routes and for suppliers looking to expand services.

Speculation surrounded the impact this move would create. Would new routes provide a substantial latency reduction? Would customers be held hostage by premium pricing? Would new routes provide better connectivity from market to market?

The answers are starting to emerge. As the first new carrier to go live in the facility, HFNsaw pent-up demand in Mahwah. Customers could not get the performance and throughput they desired from the previous connectivity options. From my perspective, this move is a game-changer for financials regarding cost, latency and market-to-market connectivity.

Network providers were eager to announce plans for ultra-low-latency routes, but as of today, few have delivered. While designing ultra-low-latency routes is complex, the investment can pay dividends for customers and carriers. Carriers that have acted with transparency, creative thinking and a small amount of risk have taken the lead. Innovative construction strategies must be utilized to efficiently construct while ensuring a path that materially improves latency. In our case, after a complex build that began a year ago, paths leading out of our Mahwah route reduced latency by an average of 41% per path. The latency reduction speaks for itself.

Early speculation about the Mahwah routes assumed financials would have to pay top dollar to gain access to new routes. Until a few years ago, paying a premium for low latency was the norm. In the past, clients would pay just about anything for a financial edge. Those days are dead and gone. Today, there is a balance between cost and latency reduction. A 10% latency reduction is no longer as attractive as it was a few years ago. Companies will not overpay for a new route. The competition is greater and margins are thinner for financial clients, and they are more mindful than ever of what they spend on connectivity.

Companies still want the lowest possible latency, but now the customer is more cost-conscious. They need to get the best bang for their buck, with clearly identifiable ROI. Carriers have to find creative solutions to deliver the best possible value. Carriers simply have to crack that formula to enjoy happy customers and great success.

[Related: “Microwave: The Fastest Route Between Two Points”]

The final piece of the puzzle is inter-market connectivity. Premier connectivity between the major markets is a key selling point for financials. Paths leading from the NYSE Mahwah facility to strategic locations in Carteret (Nasdaq), Weehawken (BATS), Secaucus (Direct Edge) and Newark (NYSE’s SFTI) are delivering the essential routes for traders that want to be on top of the industry.

Financials were eager to get access to the lowest-latency and market-to-market connectivity at a price that allows for the targeted ROI. The need to purchase service before route capacity maxed out was recognized, so many financials reserved space even before the routes went live. Many wanted the 30%+ latency reduction from the minute it was available. A head start could mean larger margins for a period of time.

The customer is always right. So far, the customer is speaking loud and clear. Financials need the lowest-latency. Right now, that means they need to be connected to routes coming out of the NYSE facility in Mahwah.

BT launches service offering from CME Group’s Aurora data centre


http://www.automatedtrader.net/news/data-news/142372/bt-launches-service-offering-from-cme-groups-aurora-data-centre

First Published Monday, 25th March 2013 from Automated Trader : Data News

BT Radianz managed hosting services and cloud platform now available from CME Group’s data center in Aurora

BT has signed an agreement with CME Group, the derivatives marketplaces, to enable the BT Radianz Cloud community access to CME Group’s trading and market data services. In addition, the BT Radianz Cloud platform has been extended into CME Group’s data center in Aurora, Illinois, where BT can also now deliver BT Radianz managed hosting services.

The new agreement builds upon an existing relationship that has provided members of the BT Radianz Cloud community with access to CME Group markets via connectivity in E. Cermak Road, Chicago since 2006.

Members and customers of CME Group will have managed access to CME Group’s Market Data Platform (MDP) that provides data for its futures and options market, as well as third-party real-time data from Dubai Mercantile Exchange (DME), Standard & Poor’s (S&P) Cash Indices, Minneapolis Grain Exchange (MGEX), BM&F Bovespa (BM&F) and Korea Exchange (KRX).

BT Radianz services now also provide access to CME Group’s Globex order entry platform, CME Direct in Europe, and access to CME Group’s exchanges which include Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOT), New York Mercantile Exchange (NYMEX), Commodity Exchange Inc. (COMEX) and Kansas City Board of Trade (KCBOT).

Tom Regent, president, global banking & financial markets, BT Global Services, said: “The derivatives market and the foreign exchange market are truly global and investors increasingly want to access the major trading platforms wherever they are in the world. The addition of these CME Group services to the BT Radianz Cloud is a major step for us and reinforces our commitment to supporting the many thousands of financial institutions that rely on BT services.”

Tom Regent, president, Global Banking & Financial Markets, BT Global ServicesTom Regent, president, Global Banking & Financial Markets, BT Global Services

“The derivatives market and the foreign exchange market are truly global and investors increasingly want to access the major trading platforms.”

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

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