BATS Chi-X Europe, Xenfin Capital, Charles River and more…

UK-based technology provider Exponential-e has added financial data from pan-European multilateral trading facility BATS Chi-X Europe to its on-net offering. Exponential-e will provide direct ultra-low latency links to the trading platform.

Exponential-e offers BATS Chi-X Europe data 

UK-based technology provider Exponential-e has added financial data from pan-European multilateral trading facility BATS Chi-X Europe to its on-net offering. Exponential-e will provide direct ultra-low latency links to the trading platform.

Trading participants will be able to access the venue with sub-millisecond market connectivity provided by Exponential-e’s network, which is used by 250 finance organisations.

“We’ve built a vast, high-performance network into the financial trading sector and the choice of sites we add to our footprint is determined by the needs of the industry,” said Lee Wade, CEO at Exponential-e. “BATS Chi-X Europe’s participants now have the choice of connectivity over the UK’s first 100GigE network.”

Xenfin Capital hires new e-FX head 

FX trading and market making firm Xenfin Capital has appointed Jamie Rose to the role of head of e-FX. In his new role, Rose will be shape business development strategy as part of the firm’s growth plans.

Rose was previously head of e-FX at Marex Spectron, a UK-based brokerage, which he joined in 2007. Prior to that, he held senior client relationship roles at FX platform FXall and Dresdner Kleinwort.

“We are delighted to welcome Jamie to the team,” said Duncan MacInnes, founder and CEO of Xenfin Capital. “He brings an extensive level of e-FX experience to Xenfin, with deep understanding of clients’ requirements and FX trading technology. Hiring an FX professional of his calibre sends a signal to the marketplace of how seriously we take our plans for growth.”

Momentum Asset Management signs up to Charles River in South Africa 

Johannesburg-based Momentum Asset Management (Momentum AM) has chosen technology firm Charles River to provide automated portfolio management, order and execution management and compliance monitoring across its equity, fixed income and derivatives operations.

Momentum AM, a subsidiary of Momentum Investments, which is a subsidiary of MMI Holdings, was formed in late 2011 through the merger of RMB Asset Management and Metropolitan Asset Managers.

To serve the firm’s South African client base, Charles River has established a permanent regional presence, headed by John Reardon, regional manager, based in Johannesburg.

“Charles River was originally deployed by Metropolitan Asset Managers in 2005 and is now the system of choice throughout the new business,” said Sibusiso Mabuza, CEO of Momentum Asset Management. “With Charles River IMS, we have the ability to handle all asset classes and generate a complete audit trail by using one system throughout the trade lifecycle. We have embedded pre-trade compliance, which eliminates a separate system and streamlines the process. Charles River IMS also has the flexibility to integrate with other third-party systems, which is essential as we progress through the integration of various investment processes of the business.”

Direct Edge introduces Edge Ticker Plant 

US trading venue operator Direct Edge has released its Edge Ticker Plant, a low-cost accelerated market data aggregator that promises to provide high-speed data to market participants.

Edge Ticker Plant uses the firm’s ConnectEdge network and Exegy ticker plant technology to integrate more than 20 market data feeds with direct market access to all major US equity exchanges.

Edge Ticker Plant was designed to lower technology infrastructure costs without reducing performance, using the same connectivity infrastructure that supports the firm’s Direct Edge exchanges and member firms.

Tick Data adds Mexico and Korea to market data offering 

Tick Data, the market data division of Nexa Technologies, a subsidiary of Penson Worldwide, has added Mexican and Korean tick equity data to its offering of historical intraday market data. The new Bolsa Mexican de Valores dataset and Korea Exchange tick equity dataset include tick-by-tick trade and quote data dating back to 7 May 2008 for equities.

Algorithmic and high-frequency traders require historical market data to develop and test their models. Tick Data already covers Brazil’s BM&FBovespa, as well as the majority of trading in Asia Pacific, including Australia, Japan and Hong Kong.

“The regulatory and tax environments in the US and Europe continue to fuel the expansion of high-frequency trading in emerging markets around the world,” said Neal Falkenberry, senior vice president of Nexa’s Tick Data division. “As these markets become more liquid and technologically advanced, more of our clients can participate. Tick Data looks to our clients for guidance on the future of our product offering, and they tell us that Latin America and Asia are becoming very important to their trading activity.”

Orc supports Eurex Exchange trading platform 

Technology provider Orc has added support for Eurex Exchange’s new trading architecture, which is due to launch in December 2012, providing institutional investors with new order types and more efficient processing and reporting for derivatives trading.

Eurex Exchange’s new trading architecture will be launched in steps over a four-month period. Orc has stated it will fully support the migration, adapting its solutions to support the new functionality introduced by the exchange. Orc’s Market Maker and Liquidator solutions will be optimised for the new system.

Orc’s access to Eurex Clearing FIXML Interface will provide compliance with the European regulatory requirement of standardised OTC derivatives to clear through a central counterparty by January 2013.

“Our new trading architecture provides advantages for all who are engaged in Eurex trading, and our technology partners have a vital role for making these real,” said Wolfgang Eholzer, head of trading system design, Eurex. “Orc has demonstrated their ability to deliver tools that help traders make the most of our exchange architecture, and we are pleased that they are now on board to make the transition to our new trading platform a successful mission.”