Eurex installs new interfaces to ease access
Eurex Group, the derivatives and clearing arm of Deutsche Börse, has introduced three new interfaces designed to make it easier for users to connect to the Eurex network.
Eurex aims to reduce the cost of accessing Eurex Clearing by introducing a FIXML interface, which offers members greater technology flexibility and standardisation.
Meanwhile, the Eurex market data interface will disseminate price level aggregated and netted depth data in multicast format – reducing the bandwidth requirements for users and providing lower granularity. Finally, the new standard FIX gateway interface now provides support for FIX versions 4.2 and 4.4.
The upgrade also allows users to set pre-trade risk limits in product currency for bilaterally agreed trades, making Eurex advanced risk protection applicable for the EurexOTC trade entry service. Previously, limits for this trade entry service were available in the form of maximal number of contracts only.
Fidessa offers access to Deutsche Bank dark pool
Members of financial technology provider Fidessa’s network can now connect to Deutsche Bank’s SuperX ATS dark pool following a deal between the two firms.
Under the agreement, users of Fidessa’s US trading platform will also be able to access Deutsche Bank’s algorithms and smart order router. Access to the Fidessa network will increase the number of firms that are able to access Deutsche Bank’s electronic trading capabilities.
“The strength of the Fidessa network lies in its global reach, its robust infrastructure and the breadth and diversity of member organisations,” said Justin Llewellyn-Jones, chief operating officer, Fidessa. “Members benefit from increased flow and gain low risk, cost-efficient access to the world’s most important lit and dark trading destinations.”
MIXIT offers FINRA-compliant stock reporting
Market participants can now use order audit trail system (OATS) reporting from trading and compliance systems provider MIXIT to comply with new requirements from independent US securities regulator the Financial Industry Regulatory Authority (FINRA).
Active from October 2011, the new rules require all national market system (NMS) stocks to be reported to FINRA. MIXIT’s new OATS version streamlines and optimises the reporting processes for all securities including NMS stocks.
In addition, MIXIT has signed a deal with trading technology provider and brokerage Lightspeed Financial to use the enhanced OATS aggregation service.
“MIXIT’s OATS aggregation service enables us to comply with all FINRA NMS reporting requirements and alleviates our compliance team of the added workload, enabling for a more streamlined and cost-efficient process,” said Scott Ignall, chief technology officer, Lightspeed Financial.
IPC Systems builds connectivity to Nasdaq OMX Nordic
Trading communications provider IPC Systems has extended its secure financial network to Nasdaq OMX Nordic, offering a central market place for fixed income activities in the Nordic region.
Nasdaq OMX Nordic includes the domestic stock exchanges in Stockholm, Helsinki, Copenhagen and Reykjavik. IPC has also implemented direct access to Nasdaq OMX Stockholm, providing market participants access to all the region’s main financial markets.
“Nasdaq OMX Nordic serves as a central gateway to the Nordic financial market, and is proving an increasingly attractive destination for trading looking to build portfolios with a good risk spread,” said David Brown, senior vice president, global network operations, IPC.
The IPC global network connects financial centres across 200 cities in 60 countries with low-latency connectivity for all aspects of the trade lifecycle.
Deutsche Börse opts for Juniper Networks technology
Deutsche Börse has chosen technology firm Juniper Networks to provide client support for the exchange’s new 10-gigabit per second co-location network.
From 12 December, Deutsche Börse will be using the Juniper’s technology to reduce network run-time for co-located Eurex and Xetra members. The move is intended to help boost liquidity on both platforms.
“With the continued increase in electronic trading pushing networks to capacity, we needed a reliable, high-performance network for co-location customers seeking new speed advantages,” said Christian Leis, director and head of section networks, Deutsche Börse. “Juniper’s switches will immediately enable us to significantly shorten the network runtime of co-location clients on the Eurex derivatives and Xetra cash markets. In our business, speed is critical to success.”
US options venue the International Securities Exchange also plans to use Juniper Networks to support customer co-location in its own data centres.