Corvil and Nasdaq OMX build latency solution
Latency management firm Corvil is to provide full latency measurement and transaction performance visibility for Nasdaq OMX’s trading platforms.
The firm’s CorvilNet latency management system will be deployed across Nasdaq OMX’s Genium INET, CLICK XT and SECUR trading platforms.
Corvil’s CorvilNet OMnet module is designed to provide full visibility into transactions, including the routing of individual messages as well as the outcome of the transaction itself. Participants can also compare the relative latency of different transaction types, as well as measuring latency contributions from their own equipment, such as trading gateways, smart order routers and firewalls.
“In today’s complex trading environments information about performance and speed are critical to optimising and de-risking trading strategies,” said Donal Byrne, Corvil CEO. “Therefore, exchanges need to be in a position to provide full latency transparency into the performance of their marketplace to their participants.”
BT Radianz expands to Ukraine and Kazakhstan
The Eurasian Trade System (ETS) Exchange, a Kazakhstan-based commodity exchange, and the Ukrainian Exchange have joined the BT Radianz community to provide international investors with access to their market data.
This is the first time that the exchanges’ data feeds will be distributed to a global community via external connectivity capabilities. The deal is intended to allow international investors to capitalise on the opportunities in these emerging markets through fast, secure access to these exchanges. It also builds on the existing relationship between BT and the Russia’s RTS Stock Exchange.
The Ukrainian Exchange was established in 2009 by RTS and participants in the Ukrainian securities market to increase the competitiveness of the country’s markets and attract international and domestic capital. The exchange offers trading in futures and options.
The ETS Exchange was established by RTS and the Almaty City Regional Financial Centre in Kazakhstan in 2009. It offers spot and futures trading of commodities, including grain and fuel futures, as well as index futures trading based on its commodities index.
Neonet partners with IFS LiquidMetrix to clarify market data
Execution services provider Neonet has formed a partnership with Intelligent Financial Systems (IFS), a London-based research and market data analysis company.
Under the deal, IFS’s LiquidMetrix, which focuses on transaction cost analysis (TCA), will assist Neonet with measuring and evaluating the quality of equity execution, including smart order routing.
Neonet plans to incorporate the independent quality assurance provided by LiquidMetrix with its execution services.
Using the LiquidMetrix WorkStation, Neonet can analyse the performance of its trade flow on individual or multiple trading venues with millisecond provision. The actual and potential price improvements are calculated for each trade using order book depths and best bid and offer reference prices. A full TCA summary for client orders is available, and the system also provides summaries across all trading activity pinpointing existing price improvements captured by the Neonet system and potential optimisations.
ITRS sets up shop in Manila
Trading technology provider ITRS Group has opened a new development centre in Manila, Philippines, which it says will assist its R&D programme.
Quintin Gomez, CTO and head of product management and development, currently responsible for the product marketing, development and testing groups in London will also take responsibility for these areas in Manila. Meanwhile, Phil Sales has been appointed senior development manager, reporting to Gomez, to lead the Manila-based team.
“We chose the Philippines primarily for the access it provides to skilled and experienced people,” said Kevin Covington, CEO of ITRS Group. “This facility will focus on providing increased client support, testing and development, working closely with the team in London.”
Turkish bank joins SunGard
Ak Investment, the brokerage arm of Turkey’s Akbank, has joined the SunGard Global Network (SGN), enabling it to offer its trading services and research skills on the Turkish capital markets.
Accessing SGN will help Ak Investment reach clients directly, add new connections in short timeframes and gain new order flow. The SunGard connection will also make it easier for outside firms to access the Turkish market.
Ak Investment provides full service brokerage and investment banking services in the Turkish market.
“Turkey is one of the most dynamic economies in Europe, and we are seeing growing demand from international clients for access to the Turkish capital markets, for trading and market data,” said Philippe Carré, global head of connectivity at SunGard.
Broker Novus opts for MBA order capture and routing system
Equities and derivatives broker Novus has implemented a new order capture and routing system developed by technology firm MBA Systems.
The system has been designed to support the broker’s entire front-office process enabling it to better manage its trading activity, including the validation of transactions, recording of trades and management of risk/exposure, through to client reporting, generation of invoices and the management of profit and loss.
“The system has streamlined our business infinitely by automating the process,” said Paul Schofield, head of equity finance at Novus. “Furthermore it gives us a very clear view of our strengths and weaknesses as well as our trading history. These are invaluable management tools that enable us to be far more efficient and effective in our trading activity as well as in client liaison and reporting.”