Exchanges

Proquote, Tbricks/Lime Brokerage, TMX and more...

Proquote offers UK access via FactSet

Proquote, the market data provider owned by the London Stock Exchange Group (LSEG), will be providing full access to its trading functionality through financial information provider FactSet.

The Proquote order management system offers brokers the ability to place orders directly on the London Stock Exchange. Users will be able to access the UK markets for equities and fixed income through a single portal, conducting market trades while using the FactSet platform's financial information services.

Customers accessing Proquote through FactSet will also have access to the LSE and UK equity market level 1 and 2 price information, as well as the ability to utilise the retail service provider network.

“The combination of FactSet's tailored analytics tools with Proquote's real time trading system offers a unique opportunity for customers to explore investment strategies and trade UK markets in one place,” commented David Tibbetts, head of Proquote at the LSEG.

Tbricks joins Lime Brokerage for market data

Trading technology provider Tbricks and agency broker Lime Brokerage have completed the integration of their data and trading interfaces.

The first common customers are already live with the combined solution, which offers low-latency access to US markets through Lime and European access through Tbricks' existing high-speed network.

The integration allows clients using Tbricks' trading systems to access US equities and futures markets through Lime Brokerage's infrastructure. Tbricks expects to extend similar capabilities for trading in US options through Lime Brokerage in the near future. Users will also have access to Lime's low-latency Citrius market data for US markets directly through Tbricks' systems.

TMX Select enters client testing phase

TMX Select, the new alternative trading system being built by Canadian exchange group TMX, is now available for client and industry testing in the TMX Gateway Testing Environment.

The pre-launch testing period enables clients to conduct certification testing, to verify that their connectivity is working properly, and to explore TMX Select's functionality.

The new platform is targeted at high-frequency traders, with a simplified trading system designed to facilitate low-latency access and no-frills trading. TMX Select is scheduled for launch in June 2011.

TMX has stated the fee schedule and more implementation details will be communicated to market participants prior to the launch.

AcadiaSoft offers OTC derivatives solution

Collateral management firm AcadiaSoft has launched a web-based portal for collateral management and workflow in the OTC derivatives market, designed to improve operational efficiency for both buy- and sell-sides.

The new portal provides a unified automated venue from which market participants can receive, send and confirm margin calls. ArcadiaSoft aims to allow dealers and investors to manage all aspects of collateral communications online, giving parties involved in a trade access to the same information instantaneously. Users can view their collateral exposures and commitments and make adjustments as needed.

The service is currently being piloted by market participants including Barclays Capital, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley and State Street.

“The importance of properly managing collateral and counterparty risk has never been more important than it is today given the growth in the industry and recent financial market events,” said Craig Welch, co-founder of ArcadiaSoft.

TeleTrader enters UK market

Austrian technology and financial market data provider TeleTrader is to enter the UK market, launching at this week's TradeTech conference in London.

The firm currently services over 100 clients with real-time and historical data from exchanges, reference data for global stocks, FX markets, futures and options, metals, mutual funds and OTC markets, from its offices in Austria, Germany, Spain, Hungary, Serbia and Singapore.

TeleTrader is to present two new offerings. TeleTrader WebStation is TeleTrader's new web-based information platform for institutional users. In addition to real-time quotes WebStation offers historical data, fundamental data, news, charts and technical analysis. The browser-based platform is designed to cater to the needs of large distributed user groups.

TeleTrader will also officially launch its online technologies portal at TradeTech. The firm aims to deliver all the data and all the functionalities needed from financial websites through one interface. Additionally, the firm offers a set of technologies including live data pushing through HTTP to clients, flash chart components, data-feed application programming interfaces and market data server technology.

IPC Systems connects UK to Germany

Trading communications software provider IPC Systems has launched a premium express route between data centre facilities in London and Frankfurt.

The new high-performance route will provide direct connectivity between the data centre sites, which serve as central co-location sites for a number of key financial market participants in the UK and Germany.

Round trip latency of the upgraded route is 8.8 microseconds upwards.

“Microseconds matter more than ever and latency remains a highly sensitive issue in the financial services industry,” said Richard Petrie, vice president, network operations EMEA, IPC Systems.

IPC's global network interconnects the world's major financial centres across 200 cities in 60 countries with secure, low-latency connectivity in support of all aspects of the trade lifecycle.

Citi tackles OTC derivatives post-trade

Global broker Citi has launched an OTC derivatives service through its Global Transaction Services business, designed to consolidate and simplify the post-trade execution process.

The offering provides clients with a range of middle- and back-office services on a single platform, including confirmation, settlement, valuation services, collateral management, margin management and access to Citi's global clearing network.

Featuring connectivity to all major execution venues and clearing houses, daily valuation services, margin and collateral optimisation and reporting, it is intended to address the need for a comprehensive OTC derivatives solution clients can use to adapt to regulatory and operational environment changes. A web-based interface enables intra-day visibility into key contract lifecycle events.