BNP Paribas launches US custody service
Global custodian bank BNP Paribas Securities Services will launch a local custody service in the US, extending its post-trade services to multi-national banks, brokers and institutional investors.
The bank will offer local clearing, settlement and custody of all major asset classes listed on NYSE Euronext and Nasdaq OMX and will connect directly to US post-trade utility the Depository Trust and Clearing Corporation.
The addition of US services reduces the bank's reliance on external sub-custodians and increases client assets held entirely within BNP Paribas, which currently stands at US$7 trillion. It also comes ahead of major regulatory changes that will give increased emphasis on end-to-end operation control, and the central clearing of over-the-counter derivatives trades.
“Extending our sub-custody capability to include the US means we will become the local custodian for more than 90% of our clients’ global assets,” said Patrick Colle, chief executive of BNP Paribas Securities Services.
MarketPrizm expands access in Asia
Data and low-latency infrastructure provider MarketPrizm expanded its co-location platform to the Singapore Exchange (SGX), offering investors on the network fast access to the venue.
The SGX co-location centre also enables users to access markets such as India and Japan through SGX Nikkei 225 Index Futures and SGX S&P CNX Nifty Index Futures, in addition to direct market access as a managed service.
Last month, MarketPrizm launched a similar DMA solution at the Tokyo Stock Exchange.
“Many users will benefit directly from MarketPrizm’s services, particularly those employing regional quant and arbitrage strategies,” said Tanuja Randery, CEO of MarketPrizm.
Omgeo extends trade matching service
Post-trade processor Omgeo has signed Legal & General Investment Management to its trade matching service.
Legal & General, one of Europe’s largest institutional asset managers, has used Omgeo OASYS Global since 1998 and will use Omgeo Central Trade Matching (CTM) for the post-trade processing of equity and fixed income transactions.
The CTM service offers real-time central matching, faster processing and higher same-day affirmation rates with a block allocation workshop and improved trade transparency processes.
Omgeo has also reported a 25% increase in the number of investment managers and broker-dealers using the CTM service since the beginning of the year, with over 1,175 clients worldwide.
TMX Atrium adds machine-readable news from AlphaFlash
Infrastructure provider TMX Atrium has added the AlphaFlash news feed to its service offering, delivering machine-readable macroeconomic news to support electronic trading.
TMX Atrium clients will receive news faster, and the news feed delivers more than 300 machine-readable economic indicators from the US, Canada, Europe and Asia at millisecond speeds, which are integrated into algorithmic trading strategies.
The AlphaFlash service is operated by Need to Know News, a subsidiary of Deutsche Borse Group.
“The TMX Atrium platform allows ultra-low latency news to be delivered to algorithmic traders and enables ultra fast DMA execution,” said Emmanuel Carjat, managing director, TMX Atrium.
Orc launches market access solutions
Trading technology provider Orc has lauched a stand-alone market access solution providing low-latency connectivity to exchanges, brokers and market data sources.
Orc Trade Access is aimed at firms using multiple third-party connectivity vendors and those relying on in-house market connectivity and can be integrated with any order and execution management systems.
The product offers clients a choice of Orc services, such as managing tick size information by venue and the ability to modify or cancel orders on the Orc Order Service system.
Meantime, Orc clients will also now have access to FPGA market data from NovaSparks, to further improve trade performance, after a partnership between the two firms was announced this week. Customers will have more predictable speed for market data, helping them to improve trading performance.