SimCorp Dimension 5.2 boosts CCP functionality
Financial software provider SimCorp has released a new version of its Dimension clearing software, with updated features including processing central counterparty clearing (CCP), OTC derivatives management and front-to-back-office functions.
Improving CCP functionality was core to the upgrade, with the Dodd-Frank Act in the US taking effect this year and the European Markets Infrastructure Regulation due to come into effect next year. The latest version of Dimension also allows for specific risk margining of CCPs.
Other key features include the OTC Derivatives Manager, which offers a one-step transaction registration process and links to confirmation platform MarkisSERV, providing a distinction between cleared and not-cleared trades.
“Many of our clients are highly impacted by the new CCP processing requirements. Consequently, it is not enough for them to just be compliant, they are looking for a long-lasting and effective solution to keep costs down – this is exactly what 5.2 offers,” said Lars Falkenberg, head of global product and marketing management, SimCorp.
SunGard update gives increased coverage in Brazil
SunGard has updated its Stream GMI clearing and accounting solution by adding the automated processing of futures, options on futures and options on spots traded on the Brazilian securities, commodities and futures exchange BM&F Bovespa.
The upgrade will let investment banks, brokerage houses and Futures Commission Merchants outside Brazil better access and trade on BVMF’s cleared derivatives market.
Stream GMI will now automate many manual functions, including the independent calculation of initial margins using the BVMF margin algorithm and applying FX conversion rates and open trade equity calculations to reduce operational risk.
“Brazil continues to attract foreign investors and brokers that want to leverage the country’s economic growth. Stream GMI’s enhanced functionality helps improve their access to cleared derivatives in Brazil while helping these firms reduce risk and increase efficiency through automation,” said Laurent Jacquemin, executive vice president of post-trade derivatives, capital markets, for SunGard.
FFastFill’s Horizon expands colocation to ASX
FFastFill has expanded its colocation offerings, providing access to ASX’s new data and colocation service, the Australian Liquidity Centre (ALC).
FFastFill will now offer connectivity via the Horizon trading network, giving members access to the ASX at low latency.
The ALC site is FFastFill’s 14th global data centre and will be supported by teams in Sydney, Chicago and London as part of the fully managed software as a service (SaaS) product.
“For users of the highly sophisticated FFastFill SpreadIntelligence spreading technology, local access such as this provides users with a distinct advantage as all intelligent order logic is managed as close as physically possible to the exchange matching engines,” said Ian Kessell, managing director, Asia Pacific, FFastFill.
Progress joins forces with Mootwin for mobile apps
Progress Software has teamed up with mobile applications developer Mootwin, by using the Progress Apama Complex Event Processing (CEP) platform to monitor and analyse securities markets and use real time data for its trading application.
The Apama CEP platform lets Mootwin correlate data and monitor events in financial markets. As a result, subscribers can select different analytics and visualisation options.
Personalisation features will also include notifications and alerts for trading opportunities based on pre-set preferences.
“We are very excited by the partnership with Mootwin. By building their context-aware alert systems on the Progress Apama Complex Event Processing platform, Mootwin is able to deliver unique personalisation and context-aware applications that scale to millions of users in real time to provide instant information,” said John Bates, chief technology officer, Progress Software.
ULLINK partners with AZUL systems to improve response times
Low latency connectivity provider ULLINK has partnered with Java runtime scalability provider Azul Systems, in a deal which sees Azul’s Zing Java Virtual Machine (JVM) offered to new and existing clients to deliver high messages throughput for its latency solutions.
Zing is 100% java-compatible and optimised for the Linux operating system. Testing has revealed Zing reduced worst-case response times by over 40 times and 99 percentile response times by over seven times.
Scott Sellers, president and CEO of Azul Systems, said reducing response times would save money for end-users.
“For the financial services sector, we offer the best JVM for platforms and applications requiring consistent, low latency response times. ULLINK has chosen to partner with us as it recognises the added value we provide for its trading solutions,” Sellers said.