FTEN, Cinnober, QuantHouse and more…

Risk management and surveillance firm FTEN and Object Trading, provider of DMA solutions, have teamed up to offer controls for brokers who need a risk management solution for cross-market and cross-asset transparency, to meet the global requirements of new and pending high frequency trading regulations.
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FTEN and Object Trading release HFT risk system

Risk management and surveillance firm FTEN and Object Trading, provider of DMA solutions, have teamed up to offer controls for brokers who need a risk management solution for cross-market and cross-asset transparency, to meet the global requirements of new and pending high frequency trading regulations.

The solutions from Nasdaq OMX-owned FTEN and Object Trading will help customers monitor and manage risk across multiple asset classes and global trading venues from a central point of awareness and control in real time.

FTEN’s RX, a real-time risk management system with depth of data and market access infrastructure, can now leverage Object Trading’s FrontRunner trading gateways and real-time market data to broaden DMA, helping clients manage and allocate risk on a global basis. The FrontRunner suite compliments FTEN’s services by providing open access risk constraints at every global trading gateway for another level of pre-trade control over all trade orders.

To reduce systemic risk for high-speed trade flow, the alliance between FTEN and Object Trading provides combined use of pre-trade controls in place prior to submission of orders to trading platforms, at-trade controls immediately after order submission, and immediate post-trade controls, later in time than at-trade controls.

“FTEN serves market participants whose interaction is fragmented by numerous trading platforms, disparate trading systems, and multiple asset classes,” said Ted Myerson, CEO of FTEN. “As regulators across the globe are focusing on risk management standards that move beyond traditional and largely post-trade methods of dealing with infractions via regulatory audits, penalties and sanctions, broker-dealers need sufficient control mechanisms that can cooperatively manage risk across their global trading operations in real-time.”

Cinnober releases OTF in a box

Sweden-based technology vendor Cinnober has launched TESS OTF as a Software as a Service (SaaS) solution for the organised trading facility (OTF) market, introduced as a new venue category in the latest draft of MiFID.

The vendor said the new offering is suited to major banks, brokers and other financial actors wishing to implement new technology for the new venue category. TESS OTF comprises a fully hosted and managed OTF system, including a range of add-on functionality and market surveillance. The transaction volumes and throughput capacity can be scaled up on demand, allowing customers to grow as their business grows.

The service pricing is based on usage in terms of capacity , asset classes and functions and a subscription fee covers software license and services, with no major start-up costs. Cinnober maintains time to market is usually a matter of weeks.

“This release now makes it easier for European market participants to get off to a flying start implementing MiFID II compliant services, and in a very cost-efficient way,” said Nils-Robert Persson, executive chairman of Cinnober.

QuantHouse offers direct low latency access to SIX

Low-latency trading solutions provider QuantHouse has extended its QuantLINK fibre optic network into SIX Swiss Exchange. The service lets buy- and sell-side firms located in Switzerland access the low-latency offering, while global clients benefit from an optimised data feed and order routing service.

“With Zurich becoming the company’s sixteenth ‘point of presence’, we have succeeded in broadening our offering, responding to demand, providing additional co-location services and optimising trading performance of their algorithms,” said Pierre Feligioni, general manager and co-founder of QuantHouse.

QuantLINK interconnects the cores of multiple exchanges with proximity hosting at the source, ensuring clients can operate trading systems in close proximity to the exchange-matching engine, while addressing the demand to reduce connectivity costs and latency. The solution can complement or replace existing legacy infrastructures.

“This will provide our customers with an even wider choice of service providers to access our high-performance trading platform and market data,” said Chris Landis, head of operations at SIX Swiss Exchange.

IPC links to Russia’s RTS

US-based trading communications firm IPC Systems has connected the Russian Trading System (RTS) to its on-net community via IPC’s relationships with Cable & Wireless and Statel.

The move marks a continuation of IPC’s growth in Russia, following the recent extension of the IPC Financial Markets Network to the country.

IPC’s global network now encompasses more than 4,000 market participants and connects to more than 50 liquidity venues worldwide.

“Trade volumes both within and into Russian have skyrocketed over the past couple of years,” said Sergey Zamolotskikh, head of RTS’s infrastructure department and executive board member. “Russia is now one of the fastest growing markets in EMEA and with this growth comes an increase in customer demand for more diverse trading services.”

Nasdaq OMX teams with TS-Associates for TipOff support

Nasdaq OMX and TS-Associates, a supplier of precision instrumentation solutions and developer of the TipOff appliance for monitoring latency on multiple systems, have teamed up to make the TS-Associates product range available for the exchange group’s trading platforms.

This will include support for Nasdaq OMX’s proprietary protocols, used by its Genium INET and X-Stream platforms.

“Our trading platforms provide many of the leading execution venues with the fastest and most scalable trading technology in the world,” said Ann Neidenbach, senior vice president, global technology products and services at Nasdaq OMX. “The addition of TS-Associates instrumentation products to our monitoring ecosystem enhances the performance metrics we can provide, both for our own use and also on behalf of our customers.”

TipOff is currently in use with three different Nasdaq OMX based execution venues, with more expected to follow soon.

NYSE Technologies broadens TAQ service

NYSE Technologies, the commercial technology unit of exchange group NYSE Euronext, has further expanded its Historical TAQ product suite to include European cash equities and fixed income data from Euronext markets, as well as derivatives data from the NYSE Liffe US market.

This complements recent additions of US options and NYSE Liffe derivative products from January 2011.

Built at source from the consolidated tape, NYSE TAQ data is used both commercially and academically for analysing historical market activity and developing and optimising trading strategies. TAQ provides historical trade, quote, and order book data, and is time-stamped to the millisecond, so customers can recreate market conditions and align market events with accuracy.

“Our clients who source liquidity from global capital markets need to understand the dynamics and behaviours of each local market,” said Mark Schaedel, senior vice president, global data products, NYSE Technologies. “Through these TAQ Europe enhancements, NYSE Euronext is leveraging its experience and global footprint to create the most comprehensive source of historical European data that customers can rely on as they have with our TAQ US product.”