Orc/Lime, Quote MTF/Bloomberg, Interxion and more…

Trading technology provider Orc Software is to offer connectivity between its trading platform and agency broker Lime Brokerage.
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Orc Software connects to Lime

Trading technology provider Orc Software is to offer connectivity between its trading platform and agency broker Lime Brokerage. Connectivity to Lime's low-latency infrastructure is intended to provide high frequency and other latency-sensitive traders with access to the US equities, options and futures markets.

Clients of both Orc and Lime will be able to take advantage of Lime's infrastructure, built specifically for high-frequency traders, and connect to numerous markets using one interface. As part of the rollout, Orc will also be integrating Lime's ultra-low latency Citrius market data feed into its trading platform.

Traders will be able to use Orc's connection to Lime Brokerage for deploying trading strategies including spread trading, market making, volatility trading and other arbitrages. Using Orc's Liquidator server-based technology, firms can build and initiate their own trading strategies. Orc Trading's solutions is available both as a deployed software and as a managed service.

Quote MTF joins Bloomberg market data offering

Quote MTF has connected its market data feed to the Bloomberg Professional information stream service, enabling users to stream real-time quote and trade data from the pan-European multilateral trading facility.

The trading venue’s data will also be included in the Bloomberg Professional service's consolidated feed, the MDM European composite.

“In the market data arena, partnering with heavyweight data vendors like Bloomberg is crucial if market participants are to benefit from ease of access, reduced costs and improved transparencies,” said Christian Bower, commercial director, Quote MTF.

Quote MTF has also implemented Bloomberg's global identifiers (BBGID), a 12-digit alphanumerical security identifier that is maintained on the Bloomberg database and is automatically assigned to each security traded on Quote MTF.

“The BBGID is a logical solution for all exchanges and platforms since it is a key distinguishing factor for the listing level,” said Peter Warms, head of Bloomberg’s global identifiers and symbology. “The market also supports this type of unique identification, as well as an identifier that remains unchanged once assigned.”

Interxion builds up Dusseldorf data centre

Data centre operator Interxion has announced plans to revamp its Dusseldorf facility.

The 500 metre-square expansion, scheduled for completion in Q2 2011 and costing €10 million, will enable the firm to provide co-location space and services to latency-sensitive trading firms.

As part of the overhaul, the data centre's power grid connection will be upgraded in combination with two new transformers with a total capacity of 3,200 kilowatts (kW), two supplementary backup generators are being installed and the facility's power supply is being expanded.

Work has already begun with an increase in the capacity of the venue's air conditioning system by 2,000kW.

“With access to over 50 communication networks as well as the ECIX Internet exchange combined with leading-edge power and cooling, our Dusseldorf facility provides the ideal environment for customer applications as cloud-based infrastructure and delivery become even more widespread,” said Peter Knapp, managing director, Interxion, Germany.

CBOE offers new market data service

Market Data Express, a subsidiary of US derivatives venue the Chicago Board Options Exchange (CBOE), has launched CBOE Streaming Markets (CSM), a new market data service.

The service provides three separate, direct data feeds of real-time quotations and trade information from the CBOE, the newly launched C2 Options Exchange and the CBOE Stock Exchange.

CSM offers subscribers direct access to uncompressed top-of-book data – including best bid and offer quotes – and all trades for regular options or stocks, as well as data on more complex strategies such as spreads, straddles and buy-writes.

“CBOE Streaming Markets was created in response to demand from trading firms looking for more streamlined access to market data from liquidity providers than is currently available,” said Tom Knorring, vice president, trading operations at CBOE. “CSM provides the added benefits of furnishing quotes with reduced latency and enhanced information not available elsewhere.”

ITRS offers data latency monitoring

Application management and monitoring provider ITRS Group has launched Feed Latency Monitor (FLM), a tool that provides real-time latency analysis, in a bid to capitalise on demand from low-latency and high-frequency traders.

FLM is designed to monitor the real-time relative speed of market data as updates arrive from internal and external sources, such as exchanges, vendors and trading venues. The values for the incoming data fields from a user-defined list of instruments are compared for each feed against a reference data feed, enabling the user to see the relative latency between feeds compared to the reference. It also identifies the relative latency between both separate and co-mingled data feeds.

The offering can be used as an input into trading platforms and automated trading engines, to help optimise performance. ITRS has stated that it hopes the effectiveness of order management systems will be significantly improved by using its feed latency metrics as triggers for redirecting market data sourcing.

Interfloat adopts ULLINK for Brazilian trading

Brazilian broker Interfloat has rolled out technology vendor ULLINK's trading solution for the markets operated by Brazlian exchange group BM&F Bovespa, enabling improved trading capabilities in equities and derivatives.

With 50 traders connected on both cash and equity markets, Interfloat is now equipped with fast trading front-ends, and flexible, customisable screens that include pre-trade risk management tools and market data.

“Our comprehensive solution, with risk management, market data, trading front-end order management system and access to both national and international exchanges, will enable Interfloat to connect more traders,” said Rodrigo Ramos, head of client services, ULLINK.

ULLINK currently provides low-latency direct market access to over 40 major international markets, including New York, Sao Paolo, London, Paris, Hong Kong and Tokyo.

Markit joins Omgeo in risk reduction scheme

Information services firm Markit and post-trade processing provider Omgeo have partnered to standardise and enhance the way buy- and sell-side firms manage the documents required to open and maintain accounts.

The partnership links client settlement instructions used in trade allocations with client documentation used in account opening through the combination of Markit's document exchange (MDE), a central online platform for counterparties to exchange documentation, and Omgeo ALERT, a web-based global database for the maintenance and communication of standing settlement and account instructions.

All trading relationships begin with an onboarding process that includes the exchange of documents required for compliance. By linking the documents on MDE to the accounts on Omgeo ALERT, the sell-side can identify the counterparty, access its associated documents and efficiently open an account. Speeding the onboarding process lowers operational cost and reduces settlement times and the risk of failed trades.