Direct Edge's trade information published in Interactive Data feed
Direct Edge is to stream full trade information from its EDGA and EDGX exchanges through Interactive Data's Consolidated Feed.
The US exchange operator announced its EdgeBook DepthSM, a product that provides book information from its two exchanges, will be among the 450 sources of low latency data worldwide available on Interactive Data's feed.
Glenn Wasserman, senior vice president and global head of product management for Interactive Data's trading solutions business, said Direct Edge was "a trading venue that complements our product offering with its diverse liquidity and ability to deliver added value to our clients' strategies".
Interactive Data's Consolidated Feed incorporates 110 contributors of OTC data and more than 150 exchanges. The firm provides Level 2 data used for algorithmic modelling, covering instruments in multiple asset classes.
ConvergEx appoints new VP of sales
ConvergEx has appointed Gregory B. Pearce as senior vice president of sales for its Prime Services business.
Based in Chicago with an outreach across the Midwest, Pearce will oversee the group's prime services offered to clients including hedge funds, family offices and mutual funds. ConvergEx offers advanced technology as well as global execution and reporting capabilities. It has prime custody options through Goldman Sachs Execution and Clearing, J.P. Morgan Clearing and Pershing.
Douglas M. Nelson, CEO of ConvergEx Prime Services, said, "We have seen a great deal of recent growth in our Midwest operations and Greg's in-depth industry knowledge and proven track record raising capital for hedge funds will be invaluable to our expanding client base."
Pearce has over 15 years of sales and capital raising experience. Prior to joining ConvergEx, he was a managing director at Continental Advisors. Pearce also worked with the institutional sales groups at Susquehanna Financial Group and Sanford C. Bernstein.
Volante hires new regional sales heads
Volante Technologies has made appointments to its sales teams worldwide and hired 20 new employees with engineering expertise in its technical hubs in Chennai and Mexico City.
John Burgos joins the solutions provider as director of North American sales, based in New York. Burges specialised in technology and data integration solutions, and has over fifteen years experience in the financial services industry.
Jon Head will be part of the firm's London base, with responsibility for European sales. Jon has over twenty years' experience in financial services software sales, consulting and software engineering.
Also, Jaime Rofe will preside over Volante's expansion in Latin America, as commercial director of the region based in Mexico. Jaime totals eight years' experience in information technology roles at some of the largest financial retail firms.
Volante Technologies' CEO Vijay Oddiraju said: "Our focus is to help clients navigate the diverse, complex and growing mass of message formats, standards and protocols encountered throughout the lifecycle of any transaction… we are delighted to welcome the new hires to support our growing customer base across the globe."
Among the plug-ins the company provides are preformed message formats complying with standards including SWIFT MT and MX, FIX, FpML, EDIFACT, ISO 20022, and SEPA.
Calypso Technology to provide clearing platform to Chilean bank consortium
A consortium of Chilean banks, led by COMDER, has appointed Calypso Technology to provide the OTC derivatives clearing platform for its new central counterparty (CPP).
Technology provider Calypso will enable the group's clearinghouse to fully comply with G-20 mandated legislation that requires OTC derivatives trades to be centrally cleared.
Felipe Ledermann, CEO of COMDER, said Calypso was the "ideal partner" because of the firm's proven expertise and experience in OTC derivatives clearing.
"We see Calypso as a strategic partner for one of the most important projects in the Chilean banking industry. This initiative allows us to build a best-in-class CCP with the highest standards and align with BIS-IOSCO principles for market infrastructures."
The Calypso clearing solution manages each step in the clearing process, enables cross-asset coverage and transparency over risk for cash and OTC derivatives products.
OTC Markets Group agrees to provide Level 1 and 2 quotes through TurboTick's Trading Platform
OTC Markets Group will disclose information on the best bid/best offer, the size of the trade, and full quote depth on 10,000 US and global securities, as well as the identity of the market participants and traders.
The information will be available to users of TurnKey Brokerage Solutions' TurboTick trading platform, which is available to traders, brokers, hedge funds and financial institutions.
The bids in question are those made through all its various forums: OTCQX, OTCQB and OTC Pink Securities, in addition to securities from OTC LinkATS and the group's SEC-registered Alternative Trading System.
R. Cromwell Coulson, president and CEO of OTC Markets Group, said: "Our OTCQX, OTCQB and OTC Pink marketplaces are home to the largest number of ADRs and foreign ordinaries in the U.S. - over 3,000 in total - as well as 600-plus community banks and thousands of small, emerging growth companies. With this agreement, TurnKey customers now have access to the same quality and depth of data on these securities that is enjoyed by the nation's largest institutions."