ITG, Redline, CBOE and more…

<p>The London Stock Exchange (LSE) Group has reached an agreement with the Argentinian Central Securities Depository to supply it with the technical expertise to set up the new Bolsa & Mercados Argentinos Exchange (B&MA)</p>

LSE provides trading technology to Argentinian exchange

The London Stock Exchange (LSE) Group has reached an agreement with the Argentinian Central Securities Depository to supply it with the technical expertise to set up the new Bolsa & Mercados Argentinos Exchange (B&MA).

Central to the deal is the LSE’s proprietary technology company MilleniumIT, which has capital markets technology spanning multiple asset classes. The ultra low latency, scalable trading platform Millennium Exchange is a core asset of the package on offer.

CEO of MilleniumIT, Mack Gill, said: “This is a significant contract win for us. Argentina is one of the largest economies in Latin America and we are delighted they have chosen MilleniumIT to further develop their capital market infrastructure.”

LSE will supply a range of ancillary services alongside the trading technology agreement, to further promote development of Argentinian capital markets.

Director of B&MA, Ernesto Allaria, said: “Selecting MilleniumIT as our technology provider offers B&MA significant opportunities to take advantage of more globally interconnected markets. This represents an important step forward for B&MA as well as the rest of Argentina’s capital markets.”


Redline adds CBOE data to ultra-rapid ticker

CBOE Holdings’ exchanges for futures (CFE), options (CBOE, C2), and equities (CBSX) will stream its collection of data feeds through Redline’s InRush 3-ticker plant.

Redline claims its technology deploys the lowest-latency infrastructure commercially available: 5.5 microseconds tick-to-trade, measured wire-to-wire.

Its ticker plant uses Intel’s x86 multicore architecture to amalgamate data from multiple sources, so there is no need for specialised hardware. Its application programming interface can derive and select specific market data to inform trading decisions. 

Orders to CBOE’s exchanges will be placed through Redline’s Execution Gateway, which has the same low latency technology.

Vice president of marketing at Redline Trading Solutions, Lee Fisher, said: “Through direct support of all CBOE venues, Redline now provides our clients with a competitive edge across a broader range of exchanges and trading strategies. With Redline, clients are achieving ultra-low latency performance on a single multicore server while reducing their capital and operational expenses. 


ITG extends POSIT Alert to Mexico

The Bolsa Mexicana de Valores’ (BMV) is to use ITG’s POSIT Alert, bringing the total number using the service to 30. The POSIT Alert platform allows clients to anonymously trade blocks of liquidity.

The platform alerts buy-side traders to areas where liquidity matches orders on their trade blotter. As there is no human intermediary between the traders, there is minimal information leakage and less market impact.

ITG’s head of Latin America, Eric Blake, said: “The Mexican market can present challenges for the buy-side in terms of sourcing block liquidity, particularly in thinner names. The launch of POSIT Alert offers an efficient, cost-effective solution for trading Mexican equities.”

ITG’s head of Electronic Brokerage Jamie Selway said, “Our Mexican launch is an important addition to POSIT Alert’s global footprint, enhancing the block liquidity value proposition we deliver to buy-side traders.”

POSIT Alert’s total of 550 trade blotters across the globe deal in large volumes; in the US, an average of 1.1 billion shares of active global liquidity are traded each day, with a mean trade size in 2013 of 33,000 shares. In Europe the average trade value is US$1.1million, and in Asia Pacific around US$300,000.


Linedata’s new Compliance Managed Service for Hedge Funds

Linedata has launched an automated monitoring service for regulatory compliance, which will enable subscribers to outsource their due diligence to its team of legal experts.

The facility covers laws from multiple jurisdictions, including Takeover Panel Rules, UCITS IV and Short Selling Disclosure rules, which are continuously monitored and updated by LineData’s team.

The service adds to Linedata’s existing hedge fund technology platform, Linedata Global Hedge, which is used by over 200 clients.

Global head of the Hedge Funds Business Line at Linedata Gary Brackenridge said, “Many of the world’s leading institutions already entrust their compliance needs to Linedata. In creating Linedata’s new Compliance Managed Service, we have responded to clients’ input and created a fully managed dynamic monitoring service that gives high-level easy access to hedge fund regulatory expertise… we continue to develop the number of regulatory rules included in the service; currently we monitor and support over 70 jurisdictions globally.”