KDPW_CCP, Squawker, ConvergEx and more…

Nasdaq OMX will deploy its Sentinel OTC clearing and risk management solution to Poland's domestic central counterparty KDPW_CCP.

KDPW_CCP selects Nasdaq OMX to support swaps clearing

Nasdaq OMX will deploy its Sentinel OTC clearing and risk management solution to Poland’s domestic central counterparty (CCP) KDPW_CCP.

Sentinel will support KDPW_CCP’s trade lifecycle and risk management requirements for the clearing of OTC derivatives under new legislation.

Sentinel also interfaces with Polish central securities depository KDPW_STREAM, trade confirmation platforms such as MarkitWire and SWIFT Accord, as well as trade compression platforms and market data.

“This partnership with KDPW_CCP marks a substantial milestone for our post-trade technology business,” said Lars Ottersgård, senior vice president of market technology, Nasdaq OMX. “By offering clearing houses and CCPs, like KDPW_CCP, a robust OTC clearing and risk management solution for post-trade, we are meeting an industry demand head on. We’re very pleased to be supporting KDPW_CCP in its efforts.”

Squawker joins ULLINK network

Squawker, a negotiation platform that facilitates block trading for the sell-side, will be accessible through software vendor ULLINK’s global trading network from launch.

ULLINK has established connectivity to Squawker, which includes FIX integration of the vendor’s UL TRADER front end. Brokers that use the ULLINK network will be able to route orders, indications of interest and advertised trades to Squawker.

“As we move towards launch at the end of Q1, the appetite from Europe’s sell-side community for a solution to the block trading problem is incredibly strong and the response we have received from more than 100 firms has been overwhelmingly positive,” said Chris Gregory, CEO, Squawker. “Our strategic partnership with ULLINK will ensure that another important community has direct access to Squawker from their desktop.”

ConvergEx reports rise in FIX connectivity solutions

Trading technology vendor ConvergEx has reported strong customer uptake of its ConnEx managed services FIX connectivity offering since the introduction of new tools that offer greater customer control.

ConnEx offers FIX connectivity that tailors infrastructure to meet customers business goals and requirements. The offering includes the ability to monitor FIX orders and a web-based dashboard that offers transparency into the onboarding lifecycle.      

Enhancements to the service over the course of last year include a centralised monitoring tool for FIX engines and FIX sessions, pre-trade risk management tools and a CRM-type system to manage customer connectivity.

“In the past 12 months, the number of new customers that have signed on with ConnEx has exceeded our initial plan by more than three-fold. With the average ConnEx customer seeing a 15-18% reduction in their FIX network expenses, we expect this momentum to continue,” said George Rosenberger, managing director and head of ConnEx. “In addition, we have seen strong interest in ConnEx’s pre-trade risk management tool from US broker-dealers who use it in their overall market access rule compliance strategy.  Several Canadian brokers have also expressed interest with the Canadian Market Access Rule set to go live in early 2013.”

Live Squawk adds new analysis to platform

Live Squawk, an audio media-monitoring service for traders, has added dynamic audio-visual and written technical analysis to its offering.  

Market Chartist will offer daily technical analysis and commentary on fixed income, equity indices, commodities and G10 currencies, delivered by award-winning analyst Steve Miley.

Each report enables a trader to view recent price action on a chart and offers a view on potential changes.

“Our new audio visual technical analysis is an innovative move away from static charts and longwinded text and allows traders to access the information in whatever format that works best for them – audio, visual or written,” said LiveSquawk CEO and founder Harry Daniels.

TS-Associates adds NYI as infrastructure partner

TS-Associates, a supplier of latency tools for trading systems, will host reference implementations of its Precision Instrumentation solutions through data services provider NI.

“NYI stepped up when we urgently needed a data center provider with true financial services credentials,” said Shimrit Anderson-Or, director of operations, TS-Associates. “NYI knows what’s at stake when dealing with the financial market, delivering the appropriate level of service. They’ve been doing it for the past 16 years. NYI had us up and running in their Lower Manhattan facility within 24 hours, before most other providers had acknowledged our request.”

TS-Associates is currently in the process of acquiring latency management services provider Correlix and plans to decommission its QA facility in Israel.

TS-Associates services include colocation and dedicated servers, cloud computing and managed services, disaster recovery and business continuity planning.