GATE US joins Fidessa network
Trading technology provider Fidessa, has added US broker-dealer GATE US to its global connectivity network.
The move means that the 2,400 buy-side market participants and 600 brokers on the Fidessa network will now be able to route flow to the broker which is a subsidiary of GATE Technologies, operator of an electronic transaction platform for trading global alternative assets and illiquid securities.
GATE US operates the GATE Pro multi-asset class platform for clearing and settlement, analytics and connectivity, as well as an alternative trading system for restricted and illiquid US securities.
Access to GATE US' services is available via direct FIX connection or through Fidessa's own products – including the Minerva order/execution management system and EMS Workstation for the buy-side, and its sell-side trading platforms.
“We founded GATE with the intent to streamline the liquidity process, and this engagement with Fidessa brings us closer to fulfil our goal of bringing liquidity and transparency to the world's illiquid markets,” said James O'Reilly, GATE president.
Martin Currie opts for SunGard risk management
Specialist investment management firm, Martin Currie, has implemented trading technology provider SunGard's APT risk management solution for buy-side institutions.
SunGard's APT will help Martin Currie measure, manage and report market risk, and provide the portfolio insight needed to help fund managers build better portfolios. APT provides both a range of risk factor models and the ability to build bespoke geographical models.
The firm selected SunGard's offering to support Martin Currie's growth as it expands funds into different regions and countries. At Martin Currie, the daily, weekly and monthly reporting requirements across all funds will be automated through APT so that the risk management team can focus on improving returns by offering advice on portfolio construction before trading decisions are made.
“By providing pre-trade decision support and risk analysis in addition to risk reporting, APT helps investment management businesses integrate risk into investment decisions to help improve returns,” said Tim Green, head of SunGard's alternative investments business.
Omgeo launches hedge fund operations forum
Post-trade processing firm Omgeo has initiated its hedge fund operations forum (HOF), an industry peer group for UK-based hedge fund operations professionals.
Members of the HOF will meet on a quarterly basis to exchange ideas and knowledge of operational best practice implementation that goes beyond current regulatory requirements. The founding members of HOF include several UK hedge funds – BlueBay Asset Management, Cairn Capital, Cheyne Capital, CQS, Marshall Wace and RAB Capital, among others.
“The HOF provides a meeting place for industry participants to share knowledge about processes for reducing operational risk,” said Luke Venables, head of operations at hedge fund CQS.
Leigh Walters, executive director at Omgeo, added that robust post-trade infrastructure had become a key competitive differentiator for attracting and retaining both high-net-worth and institutional investors. “The objective of the HOF is to provide a forum where hedge funds can exchange ideas on streamlining post-trade processes, as well as discuss how post-trade regulatory initiatives may impact the hedge fund sector,” he said.
Skyler debuts ultra-VWAP; Corvil boosts latency measurement
Low-latency market data solutions provider Skyler Technology has launched UltraVWAP, a real-time trade performance measurement product.
Built on Skyler's streaming framework, it aims to provide firms with the ability to monitor trade execution performance as orders are being processed and adapt trading strategies or order distribution accordingly. UltraVWAP captures and stores trade data in-memory, providing instant volume-weighted average prices (VWAPs) in a choice of continuous live stream or snapshot for specific time window.
UltraVWAP supports real-time aggregated venue VWAPs across multiple venues. It can be adapted to exclude particular trade types on each individual venue.
Meanwhile, latency and trade performance systems provider Corvil has added intelligence to track the routing of individual messages that make up a transaction, as well as the overall outcome of the transaction itself, to its CorvilNet platform. Aggregate transaction performance such as fill rates, per client, per venue and per gateway or other components can also be tracked.
In addition, Corvil has improved the platform's data interface, as well as added on-demand tailored dashboards, called Latency Navigators, that allow users to monitor transaction latency, market data quality and network microbursts. They are designed to update in real-time and alert users to impending issues specific to their domain of interest.