Options IT targets high-frequency traders
Market data and connectivity provider Options IT has expanded its PIPE Velocity service, offering high-frequency traders access to the International Securities Exchange (ISE) and its new Optimise trading platform and market data offerings.
The expansion of the PIPE Velocity service comes as ISE prepares for the rollout of its new platform in April 2011, which is expected to reduce latency and improve trading performance.
PIPE Velocity is designed to provide low latency market data, market connectivity and vendor neutral application hosting as a single, fully managed service for all major markets across North America, Europe and Asia.
“We anticipate ISE's new platform will lead to a general increase in overall options trading volume as new trading opportunities often arise from these types of significant system upgrades,” said Nigel Kneafsey, CEO of Options IT.
PIPE Velocity is one of three services offered on the Options PIPE platform, which currently provides technology solutions to more than 120 investment banks, proprietary trading shops, brokerages and asset management firms globally.
Interxion completes second phase of Zurich expansion
Data centre provider Interxion has completed the second of three phased expansions to its ZUR1 data centre in Zurich-Glattbrugg. The expansion created 640 square metres of new data centre space, increasing total data centre space to over 4000 square metres.
In-house connectivity options include over 30 carriers and ISPs, as well as SwissIX, the Swiss Internet exchange. The facility and its operational systems have been independently assessed and accredited for the ISO 27001 and BS25999 standards for information security and business continuity.
Interxion currently serves over 1,100 customers through 28 data centres in 11 European countries.
NYSE Technologies connects OSE to data feed
NYSE Technologies, the commercial technology unit of exchange group NYSE Euronext, has added Japan's Osaka Securities Exchange's new J-GATE derivatives feed to its low-latency market data platform.
The new release offers full depth of book data as well as the conflated order books for J-GATE.
Coinciding with the 14 February launch of J-GATE, NYSE Technologies' market data platform and feed handlers were made available to firms throughout Asia. The solution can be deployed with either local direct memory access or remote direct memory access middleware and supports data presentation in Japanese or Western book formats.
NYSE Technologies has been focusing on building trading support solutions like its market data platform and feed handler suite for all major Asian markets. Support for J-GATE feeds brings the number of Asian markets available on the platform to more than 20.
Corvil offers LSE Millennium latency monitoring
Latency monitoring systems provider Corvil is now offering full monitoring of order flow and analysis of market data for the London Stock Exchange's Millennium Exchange trading platform, which went live on 14 February 2011.
Market participants can track the response times for all order types including new orders, quotes, modifies or cancels and the associated acknowledgements and or reject messages. They can also use gap detection and microburst analysis to assess the quality and traffic profile of the feeds. The presence of gaps and or microbursts can often cause latency issues.
Participants can also track ”trade-to-tick' latency which reflects how fast the exchange can process an order and report it on the market data feed.
“Many of our market participant customers are in the process of migrating to the new Millennium Exchange,” said Donal Byrne, CEO of Corvil. “This new functionality will allow participants to minimise migration risk and enable them to validate the speed and performance improvements promised for LSE's new trading platform.”
SimCorp enhances investment management tool
Trading technology provider SimCorp has released version 4.9 of its investment management solution, SimCorp Dimension.
Version 4.9 is designed to automate workflow processes throughout the back-, middle- and front-office and includes compliance checks, allowing investment managers to check on figures imported from outside SimCorp Dimension and incorporate these into compliance rules.
Compliance checks may also be run on broker restrictions.
In addition, the order creation process has been improved, allowing for advanced simulation possibilities using formulae or custom investment strategies.
Torben Munch, COO of SimCorp, commented that he hoped the new offering would help investment management firms meet regulatory demands to implement an operational infrastructure that allows for greater transparency and automation.
Thomson Reuters adds analytics for quant trading
Thomson Reuters has launched Enterprise Platform for Velocity Analytics, a new tool designed to facilitate quantitative trading from pre-trade research through to execution and trade compliance.
The platform integrates all Thomson Reuters content, including tick history, reference data, corporate actions, condition code processing and cancellation and correction messages. It brings together third-party applications including data management solutions, execution management systems, order management systems, back testing, trade surveillance and low-latency execution capabilities across the quantitative research and trading workflow.
Thomson Reuters says the offering will enable clients to improve their time to market and reduce data normalisation and integration issues.
The platform is available both as a managed service within Elektron, the firm's real-time network and hosting environment, or as a deployed service directly at client sites.
Otkritie offers RTS and Micex via QuantHouse
Russian broker Otkritie has partnered with trading software provider QuantHouse, enabling clients to trade on Russian exchanges RTS and Micex, while assisting with the development of their algorithmic trading strategies.
QuantHouse will provide additional market data feeds and easier strategy testing to replace clients' existing in-house systems.
Otkritie will use QuantFEED, the firm's ultra-low latency market data feed, which is designed to capture raw data from the exchanges, perform microsecond decoding and deliver normalised data through a single API.
“With the development of high frequency and algorithmic trading there has been an increased demand among clients for ultra-low latency infrastructure, local knowledge and expertise,” said Nils Jahn, managing director of global electronic trading, Otkritie. “This collaboration with QuantHouse will give Otkritie customers exclusive access to Russian markets using a world class technology platform.”
QuantHouse currently operates more than 12 international hosting facilities within or near 30 exchanges globally.