Celoxica hires ex-NYSE Euronext CTO
Market data and high-frequency trading (HFT) solutions provider Celoxica has appointed former NYSE Euronext executive Gilles Herfeld as its chief technology officer.
Herfeld brings to Celoxica more than 20 years of experience in the financial industry. He joined the firm in March to begin a full evaluation of its product design and engineering processes for its suite of market data and trade execution products for HFT firms. In his new role, Herfeld will oversee all of Celoxica's technology engineering, development and enhancement projects.
Prior to joining Celoxica, Herfled was the European head of development for cash and derivatives trading platforms at NYSE Euronext, where he served for five years. Prior to NYSE Euronext, Herfeld served at Deutsche Bank, where he was director, global head of order management systems and European market connectivity; and Goldman Sachs, where he was an executive vice president in the equities IT division.
Orc provides Brazilian futures arbitrage solution
Brazilian broker Terra Futuros is to use a product provided by financial software firm Orc Group, for futures arbitrage on Brazil's BM&F Bovespa exchange as well as inter-market arbitrage between BM&F Bovespa and other global exchanges.
Orc Spreader is built on the multi-threaded, server-based algorithmic trading engine Orc Liquidator. It includes trading logic designed for spread traders and pairs traders. The server-based architecture of Orc Spreader, including a high-performance trading engine, can be co-located at exchanges, resulting in the lowest possible latency. Orc's low-latency connectivity to over 100 markets around the world is also available to users.
“We required a trading solution that was fast, scalable, and most importantly, easy to set up,” said Francis Palmgren, managing director at Terra Futuros. “After using Orc for some time, we have noticed a significant improvement in the speed of our arbitrage and spread strategies.”
The order was booked in Q3, 2011, and the contract is based on Orc's licensing subscription model.
IPC Systems hires Tim Carmody
Financial services technology provider IPC Systems has appointed Tim Carmody as vice president of global engineering, IPC Network Services.
In his new position, Carmody has global responsibility for driving the company's network engineering strategy, focusing on extending the IPC Financial Extranet. The project aims to expand the company's portfolio of fully-managed connectivity services to provide customers with comprehensive voice and electronic trading solutions.
With more than 20 years experience in leading and designing complex network solutions for the trading community, Carmody spent 12 years dedicated to developing and supporting financial extranet services. He has led development of solutions such as large scale multicast delivery, ultra-low latency and shared extranet services for the financial services industry.
Most recently, he led the North American engineering team at BT Radianz and was responsible for all major execution venues and market data providers. Prior to that he designed and integrated financial industry networks, extranets and niche trading floor technologies for IPC and network services provider IXnet.
SunGard offers derivatives solutions via NYPC
Financial technology provider SunGard has enhanced its Stream suite of middle- and back-office derivatives solutions to support the clearing of Eurodollar and US Treasury futures via derivatives clearing house New York Portfolio Clearing (NYPC).
Member firms can use SunGard's Stream derivatives solutions – Stream Clearvision, Stream GMI and Stream Ubix – to register and manage positions of NYPC's listed interest rate futures. In addition, Stream GMI and Stream Ubix now support London SPAN-based margin calculations on NYPC-cleared futures and options based on risk arrays provided by NYPC.
“Regulatory reform is driving much change in the derivatives industry,” said Walter Lukken, CEO at NYPC. “Being able to offer middle- and back-office support via SunGard's Stream solutions will help us offer our members a way to capitalise on these changes through a reliable, efficient and accurate means to manage the processing of listed interest rate futures and support risk-based margins.”
NYPC is a joint venture between the Depository Trust & Clearing Corporation and NYSE Euronext.
Data Explorers offers sec lending data via Capital IQ
Securities lending and repo data provider Data Explorers has made its securities lending data, tracking short selling and institutional fund activity, available to subscribers over Capital IQ, a platform for financial information and analytical tools for investment banks, asset management firms, private equity firms and corporations.
Capital IQ now offers Data Explorers content for use with screening, Excel and charting functionalities, as well as via its Xpressfeed data management solution for quantitative research and modeling. The company said this data added a new layer of criteria for generating investment ideas, optimising portfolio positions, managing risks, and finessing deal timing.
Data Explorers provides Capital IQ users with more than three million intra-day transactions, covering $13 trillion of securities in the lending programs of over 20,000 institutional funds. The content is sourced directly from market participants including prime brokers, custodians, asset managers and hedge funds.