Nasdaq OMX buys automated news provider
Nasdaq OMX has acquired RapiData, a provider of machine-readable economic news to trading firms and financial institutions. Nasdaq OMX will deliver US government and other economic news directly from the source to customers via an electronic feed.
RapiData is designed to give users instant access to news that can be fed into trading algorithms. Potential users include trading firms that feed macroeconomic news into their trading algos, conventional traders who use machine-readable news to manage risk and long-only institutional investors.
RapiData currently has access to three-dozen US economic indicators, including information from the government departments of Labor, Treasury and Commerce.
“With the acquisition of the RapiData business, Nasdaq OMX will deliver key economic indicators directly from the source, using our technology,” said Brian Hyndman, senior vice president, Nasdaq OMX global data products. “The addition of the RapiData offerings to our existing line-up of data products and services is part of our strategy to give customers more efficient access to the tools needed to compete in the marketplace.”
CME Group opts for KVH connectivity services
CME Group has chosen Asian information and cloud network solutions firm KVH to provide connectivity services into and out of the new CME co-location facility.
KVH is adding a new network point of presence (POP) at the CME facility in Aurora, Illinois, to connect to its ultra-low latency network. The new Tokyo-to-Aurora route will be operational on 22 December 2011 and is due to deliver latency below an average estimate of 128 milliseconds.
CME Group will launch its co-location services on 29 January 2012 at its new data centre, which will house its trade matching engines for all products traded on the CME GlobexR platform.
KVH launched its first US POP in Chicago in January 2011 and has been expanding the geographic reach of its low-latency network. Using the new CME collocation facility and KVH global networks, the new route will provide US traders with connectivity to Japan as well as to other Asian markets including Australia.
UNX debuts financial app store
Open trading technology provider UNX has launched Catalyst Marketplace, an app store designed to break the conventional system of software distribution by allowing customers to download software from any provider in the marketplace.
The UNX marketplace offers instant access to free, paid and trial-version apps from broker-dealers, trading firms, exchanges and software companies. Users can shop for brokerage solutions such as algorithms, order routing and analytics, stay abreast of breaking stories with programming from Bloomberg Television, purchase trading analytics from providers including QSG and Titan Trading Analytics, access investment research and recommendations such as those provided by Zacks Research, download UNX’s own Catalyst execution management system for portfolio, single stock and options trading and international order routing, and procure financial quotes, news, charts, heat maps and other trading tools.
UNX is encouraging outside developers to build applications for its open-architecture, broker-neutral trading platform, Catalyst, using the UNX software development kit. Once applications are ready, they can be distributed and accessed through the marketplace.
“UNX’s model of an open marketplace nurtures and promotes technology innovation without the customer limitations,” said UNX CEO Thomas Kim. “Our open-source marketplace truly facilitates best execution in that traders don’t have to commit to a specific provider.”
Activ Financial partners Kyte Group for equities data
The Kyte Group, an integrated clearing, broker and investment service provider, has selected low-latency market data firm Activ Financial to provide global underlying equities data for its futures, options and cash equity clients.
Activ will be providing Kyte clients with the Activ application programming interface in addition to managing all of its exchange feeds through its vendor of record services. Activ API users can use the company’s aggregation, middleware and distribution technologies, including Activ’s hardware-accelerated solution MPU, to streamline workflow, improve throughput and reduce latency.
Activ Financial’s vendor of record offering allows Activ to manage permissioning for data sets including exchange sources, internal data and field level permissioning where approved by the exchange.
“Our futures, options and cash equity clients have a requirement to see the underlying data of what they are trading and Activ, with the most robust global equities data and lowest latency, performance and quality in the industry, was an obvious partner for us,” said Paul O-Hare, head of DMA and trading services at The Kyte Group.
Hartmann Capital signs three-year deal with Investmaster
Hartmann Capital, a subsidiary of London stockbroking firm Lewis Charles Securities, has continued its relationship with financial IT solutions firm Investmaster by signing a three-year contract for the Invantage solution.
The deal will provide Hartmann Capital with enhanced technical abilities to meet the needs of their clients, investment managers and brokers. It will also advance their back office capabilities.
The agreement is also intended to support Hartmann Capital’s wealth management team to achieve its aim of growth in assets under management, using the Invantage solution. Invantage Portfolio is a portfolio management solution that enables measuring, modelling and re-balancing of portfolios. Invantage Reporter aggregates data from multiple sources and produces client report packs including full audit history.
“Providing high levels of client service is essential in the wealth management industry and good technology allows us to focus on our clients’ needs,” said John Harbie, finance director, Hartmann Capital.