Fixnetix powers route to LSE IOB
Emerging markets investment bank Renaissance Capital has chosen Fixnetix, the global managed services provider, for ultra-low latency trading, market data and exchange co-location for London. The solution gives Renaissance Capital’s clients access to the London Stock Exchange via co-location and proximity hosting. Customers can use fast access to Russia’s MICEX-RTS markets through multiple data centres in London, across Europe and the Americas. The alliance allows Renaissance Capital to provide its clients low-latency market data to over 80 markets globally across all asset classes.
“We selected Fixnetix for its experience in providing ultra-low latency trading and hosting solutions to market participants,” said Damian Bunce, managing director, head of the electronic trading group at Renaissance Capital. “We look forward to working with Fixnetix to further enhance the speed and quality of our services to clients.”
TMX Atrium connects to Burgundy
TMX Atrium, a provider of connectivity solutions, has added Nordic multilateral trading facility Burgundy to its global community.
Connectivity to Burgundy offers TMX Atrium participants choice in the Nordic markets and aids TMX Atrium's expansion to new geographies. In 2011, TMX Atrium announced a high-speed path between London and Stockholm. Burgundy joins a number of Nordic venues and participants available within the TMX Atrium trading community.
TMX Atrium has over 300 end data points available on its infrastructure and covers 11 countries using 25 points of presence.
"Our relationship with TMX Atrium allows our market data and trading platform to be accessed by a wider range of participants looking to trade the Nordic markets and also gives increased choice for our users," said Erik Ellqvist, head of market operations at Burgundy. "Burgundy's decision to use TMX Atrium is in recognition of the changing players now offering connectivity amongst the evolving Nordic markets."
ISE to introduce new orders as part of tech revamp
The International Securities Exchange (ISE) has completed technology release 3.0, the latest upgrade to its trading system based on its Optimise technology. The new release introduces legging orders, a new order type due to go live in early May. With legging orders, the ISE will improve the execution of multi-legged strategy orders by enabling greater interaction of the complex order book with the regular order book. The ISE said the result should be an increased fill rate for multi-legged strategy orders as well as tighter spreads and increased liquidity on the regular order book.
Along with the Optimise upgrade, the ISE has also finalised its rollout of the Exegy Ticker Plant to reduce latency for its inbound market data feeds. The Exegy implementation also reduces hardware infrastructure and software licence costs because it decreases the number of systems necessary to process market data.
Pershing adds GlobalClear to services
GlobalClear, a custody and trading solution from Pershing, has been selected by three of the firm's existing investment bank and institutional broker-dealer clients – Bloxham, Execution Noble and Northland Capital. GlobalClear allows insitutions to outsource their back-office systems and operations to Pershing, while also using its global settlement network and clearing memberships with the major European exchanges and multilateral trading facilities.
GlobalClear offers a single point of access for clearing, settling and custody of equities, depository receipts, convertible bonds and other fixed income instruments traded on exchange or over the counter.
“Adding GlobalClear to the Pershing services we already use will enable us to enhance our services to clients and benefit the market as an additional liquidity provider,” said Damien Devine, COO at Execution Noble. “Pershing’s consultative approach to product and service provision was a major factor in the successful launch of our market-making business in London.”
Irish Stock Exchange joins BT Radianz cloud community
Market data from the Irish Stock Exchange (ISE) is now available to the 15,000 member sites in the BT Radianz Cloud operated by UK telecoms company BT. The deal is intended to make it easier for investors in Europe and beyond to access ISE information and is expected to expand the bourse’s international reach for its market data.
The BT Radianz Cloud community will benefit from access to ISE data, including in relation to Irish government bonds and treasury bills and security reference information for over 21,000 debt and 7,400 investment fund instruments listed on the ISE’s markets.
The BT Radianz Cloud is a secure networked financial services community that enables global financial market participants to exchange market information, trade with each other and clear and settle transactions.
“We are delighted to build upon our relationship with BT,” said Brian Healy, director of traded markets, development, operations, ISE. “Offering ISE data via the BT Radianz Cloud should lead to further growth in the ISE’s international customer base for our market data and information products business.”
Orc, Neonet and CameronTec to split
Technology provider Orc Group will separate its businesses to enable the three operating companies to better focus on their respective niches. Orc, Neonet and CameronTec will continue operations as before – but separately.
Thomas Bill, CEO of the Orc Group, has decided to leave the company, following a phase where he will be driving the structural separation of the Orc Group into three focused businesses. Bill will also serve as acting CEO for Orc until a successor has been installed.
Bill managed Orc Group over the last five years. “As CEO of Orc Group, Thomas has been instrumental in driving and accomplishing profitable growth, establishing new territories and implementing strategic initiatives such as the new technical platform for Orc,” said Per Larsson, chairman of the board.
Orc provides financial technology and services, including trading and market access solutions. Neonet offers execution services including algorithms and smart order routing. CameronTec provides FIX infrastructure and connectivity solutions.