Liquidnet completes first post-trade using FIX
Liquidnet has completed the first post-trade lifecycle using the FIX Protocol.
In conjunction with Capital Group, the first use of FIX Protocol for the complete post-trade lifecycle marks a major landmark in the use of FIX to facilitate post-trade analysis for the buy-side.
Liquidnet says the use of FIX Protocol gives its members a reliable and highly customisable tool so it may cater for buy-side needs to reduce costs, diversify risk and process trades seamlessly.
"When we first took on this project, we were looking for an alternative to our current post-trade process", said Capital Group's vice president of operations, Darrin Vallone. "Leveraging our existing front office FIX infrastructure for confirmations seemed an efficient and cost effective solution."
The FIX Protocol aims to give buy- and sell-side firms a standarised approach to trade information, enabling more effective risk management, transparency, reduced costs and efficient post-trade processing.
ConvergEx updates risk management offering
Broking and trade services group ConvergEx has updated its ConnEx risk management system to help its sell-side customers to manage their internal market access risk strategy.
ConvergEx said the upgrade will enable users to more easily configure risk controls using numerous additional pre-trade checks. The new system allows the creation of client groups with their own sets of risk parameters, or to create customised risk profiles for individual clients.
The system also acts as a central point for all inbound connectivity from clients, enabling users to administer consistent risk checks regardless of the trading system that their client uses or the trading platform the order is destined for.
"Sell-side firms need to invest n up-to-date risk management tools now to make sure that they have the right controls in place to help protect themselves against an unexpected market event today or in the future," said George Rosenberger, managing director and head of ConvergEx's ConnEx.
Enyx teams up with CCMW for microwave link share
Custom Connect Microwave (CCMW) and Enyx have teamed up to deliver a low latency microwave link that can be shared amongst multiple users.
An Enyx appliance means bandwidth can be shared among users in segments of 10 Mbps. Each user received guaranteed bandwidth and no user data can impact any other user.
CCMW says microwave technology is leading developments in ultra-low latency connectivity, offering performance improvements of about 40% over fiber.
Olav van Doom, executive director of CCMW, said: "Enyx has provided us with a robust solution that delivers fair bandwidth management guaranteeing our clients a level playing field."
Etrali extends mobile recording to US
Etrali Trading Solutions has expanded its mobile recording solution to help firms comply with the Dodd-Frank Act.
The legislation means firms will need to record mobile phone calls by traders, including pre-execution information, and also requires records be kept in a searchable form for a minimum of one year.
Etrali has already deployed its mobile recording service in the UK, implementing it for UK tier 1 banks since 2011. The firm says it solution is tailored to financial institutions and to meet the demands of the Financial Conduct Authority.
The single solution covers voice, data and mobile communications regardless of location with no latency. It is network-based, meaning users do not need to install any software. No handset setup is required enabling a smooth rollout for clients. The content recorded can be stored locally or in a secure, cloud-based storage system.
SS&C hires Timothy Reilly to drive outsourcing
Software provider SS&C Technologies Holding has appointed Timothy Reilly, a former PwC partner, as senior vice president of institutional outsourcing.
In his new role Reilly will be responsible for overseeing SS&C's institutional outsourcing division and lead efforts to enhance its presence in insurance and asset management.
Prior to joining, Reilly has spent almost 28 years performing senior financial capabilities at PwC, most recently as market leader in the accountancy firm's Hartford office.
He has also developed considerable technology experience, holding roles in a variety of technology-focused organisations.
Commenting on his appointment, Reilly said: "I look forward to leveraging my experience within the technology industry and managing a professional services organisation into developing strong working relationships with SS&C's new and existing clients."