Portuguese-listed bank Espirito Santo Securities has contracted trading software provider Ullink for connectivity, order management and pre-trade risk software for trading on Brazil’s BM&F Bovespa exchange.
Espirito Santo Securities is the brand name used for the Espirito Santo Group’s trading activities in Brazil. The company is using UL BRIDGE, Ullink’s low-latency connectivity platform that provides normalisation, translation and connectivity to exchange points in the region and beyond. It is also using UL IRIS, Ullink’s pre-trade risk management software with connectivity to Bovespa and BM&F markets, which allows Espirito Santo Securities to offer low-touch DMA and high-touch business using Ullink’s DMA monitoring and care order trading screens.
“The speed, flexibility and normalisation of Ullink’s connectivity platform were the key components in choosing UL BRIDGE, which will provide low-latency capabilities and pre-trade risk management to our major network worldwide,” said Rui Marques, head of Brazilian equities and head of sales at Espirito Santo Securities.
BM&F Bovespa recently reported an increase in high-frequency trading activity in its Bovespa equities segment, accounting for 7.4% of daily traded value during Q2 2011. The exchange is also currently upgrading its trading platform to the new Puma model, in cooperation with US derivatives market operator CME Group.