Aspect Enterprise Solutions Releases Real-Time Data (RTD) Retrieval Tool

Aspect Enterprise Solutions, a leading provider of multi-commodity trading and risk management Software-as-a-Service (SaaS) applications delivered in the Cloud, today announces support for Real- Time Data (RTD) for AspectDSC, its decision support center for commodity traders.

via Pocket March 29, 2013 at 10:59AM

Aspect Enterprise Solutions Signs Latest West African Customer To Commodity Trade And Risk Suite

Aspect Enterprise Solutions, a leading provider of multi-commodity trading, risk management and operations management Software-as-a-Service (SaaS) applications delivered in the Cloud, today announced that Hask Oil, Ghana had become its latest customer in West Africa.

via Pocket March 29, 2013 at 10:57AM

TESS Connect & Go overview including Customers list

TESS™ Connect & Go is a fully managed, multi-asset marketplace service for trading intensive banks and brokers that will give instant access to proven cutting-edge exchange technology. The service enables banks and brokers to set up a regulatory compliant market within weeks. TESS is a Software-as-a-Service (SaaS) solution, suitable for building and provisioning trading venues such as OTFs, SIs, SEFs and dark pools.

A full-service concept

TESS Connect & Go gives banks and brokers a unique opportunity to access state-of-the-art marketplace technology in a full-service concept. For the TESS customer this means a low-risk investment, superior total cost of ownership and ability to focus fully on core business.

TESS is configured and ready for production within weeks from order. There is no startup cost and the monthly subscription fee covers software, hardware, maintenance, hosting, operations, infrastructure and support. The service is provided from fully redundant ISO-certified data centers globally with 24/7 support and dedicated account management.

Rich and proven marketplace functionality

The core of TESS Connect & Go is the sophisticated multi-asset matching engine used in demanding equities, commodities and derivatives markets with proven speed, performance and robustness.

It can be applied to manage multiple trading models in parallel for liquid as well as illiquid markets including auctions, continuous trading, request for quote (RFQ), dark pool functionality, midpoint matching and OTC trade reporting.

The service can be extended to also include the full-fledged market surveillance system Scila Surveillance. 

Solutions for trading and clearing venues

Product-based solutions that change the world of finance

All Cinnober solutions are based on our TRADExpress™ Platform, built to cater the needs of high-transaction marketplaces and clearing houses with extreme demands on speed, performance and reliability.

TRADExpress Platform

Includes all the infrastructural components needed for true mission-critical transaction solutions

Versatility by default

All Cinnober solutions are based on our TRADExpress™ Platform, built to cater the needs of high-transaction

Managed services

In the financial sector, a strong IT partner needs to deliver more than just robust technology. It should help ensure a smooth launch, implementation and operation – as well as provide a flexible path for post-launch developments, since the market never stops changing.

While some customers might have firmly established system operations, their IT departments might already be fully burdened and unable to take on new projects. New marketplaces may start out without an IT department at all, and with very few resources in place. Cinnober therefore offers complete system hosting and operational services, from system dimensioning, through installation, to ongoing operation.

All Cinnober systems can be ordered as fully managed solutions including hosting in ISO-certified data centers, management of infrastructure and hardware, system operations including monitoring, surveillance, backup, system reports and issue management. All clients are backed up by a dedicated Technical Account Manager and the Cinnober Service Desk


Cinnober rolls out new SaaS marketplace technology for banks and brokers

The leading financial technology supplier Cinnober recently launched a fully managed marketplace service, TESS™ Connect & Go, targeting trading-intensive banks and brokers.

via Pocket February 28, 2013 at 06:23PM

ION Group agrees FFastFill acquisition

The Pattington and FFastFill boards have agreed the terms of a recommended cash offer of 20 pence per share, a 32% premium on FFastFill’s closing price on Thursday, 14 February. Pattington already holds a 25.

via Pocket February 17, 2013 at 12:30PM

No Easy FIX: Brokers Eye Outsourcing FIX Connections (fix protocol)

FIX costs have long been a thorn in the side of more than a few brokers. While many still insist on managing their FIX connectivity internally, others have chosen to outsource this service to third-party providers. The question remains: Is the benefit worth the internal staffing and budgeting, or is it time to hand off this service to the vendor community? By Anthony Malakian
Many firms like to talk about their operational resilience and their ability to weather financial crises. Then there’s Dominick & Dominick, founded in 1870, five years after the Civil War’s bloody conclusion. During its 140-year history, the New York-based financial services firm has only known two owners. It has survived market crashes, Black Tuesday, the Great Depression, and numerous recessions and bubble bursts. The firm, which serves as a wealth manager and brokerage, prides itself on its personalized customer service and the closeness of its client relationships. That has meant responding to new IT challenges in-house to guarantee that level of personalized service.
But when it came to managing the firm’s FIX connectivity, the internal effort proved too daunting and expensive, and undermined the firm’s client focus. Dominick & Dominick doesn’t have its own FIX team. Since 2005, that responsibility has fallen to Michael Abbruzzese and an IT employee here and there, who dealt with the different FIX providers. Abbruzzese, Dominick & Dominick’s managing director and head of block trading, says he’s no expert when it comes to FIX connectivity. “We kind of muddled through the process the best we could, which took time away from our day jobs,” he says.
“The biggest benefit for us or for anyone else is the portability of the FIX connections. You’re not necessarily married to your OMS anymore. …ConnEx gives us the flexibility to take all of our FIX connections and just repoint them to the new OMS, if we were to make a switch.” —Michael Abbruzzese, Dominick & Dominick
Still, Abbruzzese never gave much thought to the idea of outsourcing the firm’s FIX connectivity until Dominick & Dominick went looking for a new order management system (OMS). When speaking with representatives from ConvergEx, he mentioned how much of a headache FIX-related issues were to the firm. He was directed to George Rosenberger, who heads ConvergEx’s ConnEx unit, which specializes in FIX outsourced solutions.
Ups and Downs 
The Financial Information eXchange (FIX) messaging protocol was created in 1992 as a way to communicate trade information among market participants in a standardized way. And in the years since, the growth of the FIX protocol has mirrored the meteoric rise of electronic trading. But as FIX’s role in the markets expanded, so too did the costs and resources required to manage the connections.
Prior to the financial crisis of 2008, most brokerages chose to manage FIX connectivity in-house. They felt it provided them with improved customer service, rapid connection times to add new lines, and faster reaction time to respond to outages.
But since 2008, brokers’ volumes have fallen—volumes on the New York Stock Exchange, which correlate well with broker-dealer volumes, have steadily fallen year-over-year since 2008, from a high of 2.6 billion average daily shares to 1.1 billion in 2012, a decrease of 57 percent (see chart). This trend is not expected to turn around in 2013. Therefore, firms have begun to examine the costs of keeping an entire team onboard dedicated to FIX.
With this in mind, early last year ConvergEx launched its ConnEx suite of FIX infrastructure solutions. After speaking with ConvergEx’s Rosenberger, Abbruzzese says it made sense to switch to ConnEx because it offered specific FIX expertise and the vendor understood the tagging, which typically presents significant setup challenges, according to Abbruzzese.
“For us, that was a process that we had to learn as we were going because we weren’t necessarily sure what the best way to do it was,” he says. “Being with ConnEx takes all that off our plate. We’ve had new connections with them that went live overnight and we’ve never had an issue.”
The full article is available at 


Torstone Technology launches Inferno post-trade processing software to improve control and flexibility in today’s fragmented markets

Inferno is believed to be the first new settlement system to be launched in the last decade. Torstone Technology has today launched Inferno in what is believed to be the first major release of post-trade securities and derivatives processing software in almost a decade.

via Pocket December 31, 2012 at 03:34PM

Reval’s Single SaaS Solution Unveiled For Enterprise Treasury and Risk Management

Integration of complex risk, deep cash and liquidity functionality marks milestone for the industry. Today at EuroFinance’s International Cash and Treasury Management Conference, Reval (www.reval.

via Pocket December 31, 2012 at 03:33PM

Fractal Systems Selects KVH IaaS for SaaS Platform for Commodity Futures Trading Business


via Pocket December 31, 2012 at 02:58PM

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