KVH, TradingScreen, AlgoSpan and more…

Asian information delivery platform KVH plans to offer a Tokyo Stock Exchange co-location service from January 2012.
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KVH prepares to launch TSE co-location service 

Asian information delivery platform KVH plans to offer a Tokyo Stock Exchange (TSE) co-location service from January 2012.

The service will cover pre-system activation, access to the TSE Arrownet network, international leased line services, procurement, set-up, testing and implementation of servers and remote monitoring. All support will be bilingual.

The intention is to allow overseas institutional investors to outsource the operation of their equipment, reducing the cost of entry into the Tokyo market and removing the need for a local office in Japan.

The TSE’s co-location service is intended to capitalise on demand from market participants, including overseas institutional investors and high-frequency trading firms, for ultra-low latency connectivity to the exchange’s primary trading engine.

“Major financial institutions use our ultra-low latency network connectivity to Hong Kong, Singapore and Chicago,” said Nicolas Soergel, executive vice president of KVH. “By drawing on our experience in offering global services, we plan to support further reinvigoration of the trading market in Japan and to enhance TSE’s position as a leading exchange in Asia.”

TradingScreen signs BNP Paribas and Merrill Lynch for FX 

TradingScreen, a provider of execution management systems, has added BNP Paribas and Merrill Lynch to its network of foreign exchange liquidity providers.

The new partnerships allow users of TradingScreen’s TradeFX platform to access liquidity through the trading desks of BNP Paribas and Merrill Lynch, covering spot, forward and swap deal types supported through streaming and request for quote options. The TradingScreen liquidity network comprises 25 FX brokers.

TradeFX is designed to allow trading of currencies without complex platform integration and to handle post-trade needs through allocation, reconciliation and staging from front- to back-end systems. In addition, TradeFX offers clients the ability to view consolidated quotes, including spot, forwards, swaps and non-deliverable forwards across multiple banks and liquidity systems.

AlgoSpan debuts LSE Connect 

Trading infrastructure and market data provider AlgoSpan has launched its LSE Connect service, which provides connectivity between market participants and the London Stock Exchange’s trading and information services.

Designed specifically for the LSE Group’s trading services, AlgoSpan’s LSE Connect service is intended to be an alternative to the LSE Extranex service, with ultra-low latency exchange connectivity between the customer system and the exchange.

AlgoSpan offers trading and market data access over a 10Gb network platform, using low-latency hardware and network management that eliminates previously ‘invisible’ sources of latency.

Designed to increase the speed of market data delivery and reduce order execution latency, AlgoSpan’s offering combines the firm’s installed network with wholesale carrier links as well as the ability to construct its own network to client locations.

Celoxica offers reveals low-latency US access 

Market data and risk management solutions provider Celoxica has launched its hardware-accelerated in-line risk (AIR) management solution for brokers, offering ultra-low latency sponsored access to US markets.

Celoxica’s solution is designed to take account of the US Securities and Exchange Commission’s market access rule 15c3-5. Widely known as the naked access ban, the rule requires US brokers to conduct pre-trade risk management and credit checks on all client orders executing on US exchanges and alternative trading venues.

AIR has been built to ensure the lowest possible latency on the pre-trade risk checks, using an embedded processor in the client’s application server.

“We’ve put a significant amount of research and development during the last year into building an ultra-low latency, hardware accelerated per-trade risk management solution with the goal being to eliminate the latency impact of rule 15c3-5,” said Lee Staines, president at Celoxica.

Indxis offers DIY index tools 

Index technology provider Indxis has launched its new index platform, which is designed to enable companies to maintain and customise their calculations in-house.

The platform allows users to take full control of calculating, administering, maintaining and disseminating indices on a real-time basis. The system is able to simultaneously receive incoming data feeds from multiple sources, and supports all assets.

“We believe this new platform will be beneficial to those wanting to take advantage of customisable index calculations,” said Alan Price, sales director for Indxis. “In the past, this has only been possible through complex, bespoke system development or via an external provider. We can offer this as a complete package for in-house deployment or through a hybrid outsourced software as a service option.”

Indxis is a subsidiary of Mergent, a provider of business and financial data on global publicly listed companies, and has offices in Europe, Asia Pacific and North America. In 2010, the firm produced the UK dividend achievers index, composed of UK companies that have increased their annual regular cash dividends over the past five or more consecutive years. Assets based on the dividend achievers family of indices reached over US$11 billion at the end of October 2011.

Borsa Italian opts for Trayport derivatives connectivity 

IDEX, the commodity derivatives segment of Borsa Italiana, the domestic Italian market owned by the London Stock Exchange Group, has selected a connectivity solution from energy trading solutions provider Trayport.

Trayport’s GlobalVision Portal enables any company with the firm’s trading gateway software and IDEX membership to connect directly to the entire suite of products available on IDEX.

GlobalVision Portal provides an interface from the trading gateway that will be optimised for integration with IDEX’s SOLA’s matching engine. GlobalVision Portal will be hosted by IDEX,eliminating the need for IDEX’s members to deploy additional software.

“The distribution of prices and the ability to trade IDEX products through a single screen works towards one of our goals of offering market participants the simplest yet enhanced access to any available liquidity pools,” said Elliott Piggott, Trayport CEO.