Portware and UNX, two suppliers of execution management systems (EMSs), have each partnered with providers of cloud computing services to support their offerings to clients.
Catalyst, the open-technology EMS developed by UNX, will be available to users of the Capital Markets Community Platform operated by NYSE Technologies, the commercial technology unit owned by exchange group NYSE Euronext.
The Capital Markets Community Platform offers cloud-based services that enable users to purchase the computing power they need at any given time, removing the need to maintain complex IT infrastructure.
Users of the cloud platform will be able to access data and services from the NYSE Technologies' product portfolio via Catalyst, including global market data, trade analytics, order and execution information tools, indications of interest, advertised trades and other data services. Clients can also use the EMS's software development kit (SDK) and application programming interfaces to quickly develop applications and update electronic trading tools for use in Catalyst.
“Catalyst's open, fully extensible container will make it possible for industry professionals to easily integrate a wide variety of trading tools that leverage our expertise in markets, connectivity, infrastructure and technology.
Our goal here is to empower financial firms to innovate and capitalise on market opportunities,” said Stanley Young, CEO of NYSE Technologies.
“We believe the extension of our SDK to the community to create custom plug-ins will drive innovation and ignite competition in the financial markets – just as open platforms have done for the mobile computing industry,” added UNX CEO Thomas Kim.
Meanwhile, Portware has announced that it will use Elektron, the high-performance global network offered by financial data and technology vendor Thomson Reuters, to support its cloud-based deployment model.
Using Elektron, Portware says it will be able to provide buy- and sell-side clients with access to a hosted trading solution that offers reduced operational overhead costs, faster time to market, turnkey access to global liquidity, and the security and speed of Elektron's global hosting environment.
“Market participants today do not want to sacrifice performance for the convenience of fully managed trading solutions,” said Portware president and chief technology officer Ary Khatchikian. “By deploying Portware's enterprise-class trading suite in Elektron, we are giving clients the best of both worlds: the performance, flexibility and scalability of Portware's technology combined with the speed, convenience and reliability of Elektron's global market infrastructure.”