Hibernia link to CME Group
Connectivity provider Hibernia Atlantic has signed derivatives market CME Group as a new point of presence (PoP) on its Global Financial Network (GFN), providing low latency connectivity to CME Group’s new data centre.
Ethernet speeds of up to 10 gigabits will be possible to the new data centre in Aurora, Illinois, which houses trading match engines for futures and options electronic trading system CME Globex.
Hibernia’s GFN provides access to 60 exchanges and high frequency trading access points and was engineered on top of the Hibernia Network, which has 120 PoPs across North America, Europe and Asia.
Hibernia Atlantic COO Kathy Perone said the move reflected the need for fast, global connectivity for clients.
“Serving the risk management needs of global clients, CME Group requires secure and ultra fast high capacity services.
“By connecting to Hibernia’s GFN, CME Group extends its reach into major North American European and Asian destinations across our multi-gigabit network,” Perone said.
Orc supports new CBOE protocol
Finance technology firm Orc is now supporting CBOE’s updated CMi 2.0 exchange protocol across its trading products, improving order and trade performance.
Orc’s Market Maker and Liquidator products have been optimised for mass quoting and improved market making logic, which will reduce end-to-end latency.
Sallerson-Troob trader Mark Harmon said the improvement would lead to better speeds for traders.
“Orc has made it possible to compete at a high level in the market making space by making it easy to handle my volatility skew, by automating the relationship between products and by automating hedging and value adjustments after a quote fill,” Harmon said.
Interxion offers direct London-Madrid access
Data carrier Interxion will offer direct connectivity from London to Madrid’s primary exchange, Bolsas y Mercados (BME), lowering communication costs and latency.
The remote access will be achieved by three one-gigabyte fibre optic lines offering latency of less than 13.8 milliseconds between the two capitals.
In addition to accessing cash and derivatives markets, traders will be able to access market data between Madrid and London at higher speeds.
Greg McCulloch, managing director of Interxion UK, said the deal would provide greater flexibility for traders.
“BME is a valuable addition to our financial hub in London and it’s great that our customers can now benefit from this cost-effective connectivity to the Spanish markets,” McCulloch said.
Chi-X Global deploys CorvilNet in Australia, Canada, Japan
Chi-X Global venues in Australia, Canada and Japan have selected a latency management system from technology provider Corvil.
CorvilNet Latency Management System lets users monitor and analyse network latency and microbursts, market data health, participant order flow and trade performance, providing performance metrics.
Chi-X Global CEO Tal Cohen said the move will boost traders’ efficiency and help them adapt to changing market trends.
“CorvilNet will allow us to better measure participants’ performance, leading to a deeper dialogue on how they can best utilise our trading infrastructure.
“As trading participants’ needs evolve and they look to adapt to the changing landscape, having greater visibility into system performance has never been more critical,” Cohen said.
PKO Bank Polski uses LIST for direct access to NYSE Euronext
PKO Bank Polski, a member of the Warsaw Stock Exchange (WSE), will use technology vendor LIST's FastTrade trading platform for direct market access to the NYSE Euronext universal trading platform used by the WSE.
The FastTrade system offers market making tools including pricing, auto quoting, position keeping and risk management, as well as order execution management, smart order routing, and an algorithmic execution engine.
PKO Bank Polski can merge market making activity and brokerage services into a single platform that lets the bank trade on multiple venues across different asset classes.
“Implementation of the new system will put us on an equal footing with foreign investment banks while creating a significant competitive advantage in the Polish market,” said Grzegorz Zawada, head of brokerage, PKO Bank Polski.