Newport, Fidessa, Apama and more...
Newport 3.13 rollout
Agency broker and electronic trading provider Instinet has
finished the global rollout of the latest version of its execution management
system (EMS) Newport.
Newport is a global,
multi-asset, broker-neutral system which serves as the primary gateway to the
Instinet’s electronic trading tools.
Key enhancements to Newport 3.13 included exchange-traded
futures calendar spreads for rolling expiring futures positions into new
contracts with future expiry without incurring legging risk. The new EMS also
provides for direct access to Instinet’s new Spread Smart Order Router and
Smart Legging Algorithm. Enhancements to the workflow for options spread trading lets traders trade directly from the watch list – quote, monitor and trade
previously-saved “synthetic” spreads – and trade each leg of a spread
“Multi-asset trading continues to be a strategic focus for
Instinet. Every facet of our business – from sales trading and liquidity
sourcing to aggregation and commission management – now addresses derivatives,”
said Erin Sheehan, product strategist for Newport. “We’re committed to
maintaining this focus and bringing the best possible multi-asset trading
enhancements to Newport going forward.”
derivatives heavyweight and trader trainer
Trading technology provider Fidessa has increased its
presence in derivatives markets and beefed up its support service with the
appointments of Yuriy Shterk as senior product manager and Michael Wilkins as
trader support specialist.
Shterk will assist with the design and implementation of new
products and services for Fidessa’s local and global customers, while Wilkins
will offer training and assistance on Fidessa’s futures and options platform.
Shterk comes from market data and order routing provider CQG, where he was vice president of product strategy, and
Wilkins was previously a pre-sales executive for SunGard Global Trading and a
training manager at Orc Software.
ESMA added to
Progress Software’s Apama Market Surveillance and Monitoring
solution now has the capabilities to support the latest European Supervisory
Markets Authority (ESMA) guidelines.
The new release has specific support for the European
regulatory requirements, as well as existing capabilities for monitoring
algorithmic trading, order/trade ratios, best-execution compliance, and
The solution offers integrated, real-time views of external
and internal events and processes, with end-to-end surveillance, monitoring and
risk management activities which are required by ESMA, Dodd-Frank, the
Securities and Exchange Board of India (SEBI) and other global regulatory
The solution lets the user meet ESMA-specific requirements
such as: monitoring electronic trading platforms in real-time, issuing
prioritised alerts for problems with electronic trading systems, automatically
blocking or cancelling orders outside pre-set prices or sizes, and blocking
unauthorised trades or traders.
Vehicle becomes first
ETF to invest direct to hedge fund equity positions
AlphaClone Alternative Alpha ETF has become the first
exchange-traded fund (ETF) to invest in disclosed equity positions held by
established hedge fund managers.
The new ETF will try to capture alpha from manager long
positions while protecting against protracted market downturns through a
dynamic hedge mechanism.
The vehicle is available to trade daily on the NYSE.
The ETF is based on the passive, risk-managed AlphaClone
Hedge Fund Long/Short Index, derived from the research and hedge fund
replication methodology developed by AlphaClone and its founder Mazin Jadallah.
Different from hedge fund beta factor replication, the
AlphaClone index directly selects long positions from public disclosures using
a proprietary ranking. This methodology measures the efficacy of following
managers based on their disclosures over a complete market cycle.
RenCap and GATElab offer
HFT for MICEX
Russian market specialist broker Renaissance Capital and independent multi-asset electronic
trading systems provider GATElab has gone live on the MICEX Cash Equities
Segment using high frequency trading software.
The GATElab HFTS module lets RenCap clients access sub-130
microseconds one way, including pre-trade risk checks.
Customers can code to FIX for low latency DMA access and can
be hosted either at MICEX M1 Official Co-location, Renaissance Capital
Proximity Services or their own data centre.
“This product is a breakthrough towards the completion of
phase one of our strategy to be the de facto standard in sophisticated prime
brokerage and ultra high speed access to Russia’s capital markets,” Damian
Bunce CEO, electronic trading group at Renaissance Capital said.