State Street Global Advisors opts for Fidessa fixed income solution
State Street Global Advisors has implemented a buy-side investment solution for fixed income and compliance, provided by trading solutions supplier Fidessa. The firm now has a single platform covering connectivity, trading workflow and pre-trade compliance for all asset classes.
The new solution was installed to help provide greater automation of the trading processes, reduce trading costs and improve risk management. Key features include a single pre- and post-trade compliance solution for all asset types to consolidate the compliance function and improved market connectivity for fixed income, foreign exchange and equities, as well as portfolio modelling and decision support.
“With increased regulatory requirements and growing compliance costs, we feel confident that this technology will support our aim of driving down transaction and reporting costs while improving workflows and risk control,” said Marc Brown, chief administrative officer, State Street Global Advisors.
TradingScreen offers J.P. Morgan FX algos via TradeFX
TradingScreen, the provider of multi-broker and multi-asset class execution management systems (EMS), has partnered with J.P. Morgan Chase to deliver foreign exchange algorithms to users of TradeFX.
The partnership allows users of TradingScreen’s TradeFX platform to access FX liquidity through the J.P. Morgan Chase suite of algorithms. The move adds to TradingScreen’s 40 broker algo suites, providing access to some 375 unique strategies.
“We are excited to be adding to the functionality on TradeFX, putting us further ahead of the pack as the industry’s foreign exchange algorithm hub,” said TradingScreen CEO Philippe Buhannic. “We are committed to providing the best functionality to foreign exchange traders and will continue to work with partners like J.P. Morgan Chase to add new functionality and channels to more efficiently access the foreign exchange markets.”
The new algos include the time-weighted average price, Timeslicer, Panther and Sliceberg strategies.
NYSE Technologies adds Level 1 and 2 data to SuperFeed
NYSE Technologies, the commercial technology unit of NYSE Euronext, has now made available Level 1 and Level 2 OTC markets group data through its global market data platform, SuperFeed.
SuperFeed is designed to reduce complexity and client costs by allowing customers to consolidate fragmented technologies and connectivity options.
As a core component of the NYSE Technologies portfolio, SuperFeed is a primary service offered in the NYSE Technologies liquidity centres and the capital markets community platform. SuperFeed uses the firm’s global feed handler suite, which provides microsecond data transmission via the STFI network between global markets and some 170 direct exchange and aggregated vendor feed handlers.
“The addition of OTC data from the world’s largest electronic marketplace for unlisted securities allows us to help our customers access even more information using a single, complete service,” said Stanley Young, CEO, NYSE technologies.
Options IT adds Fundamental Interactions order matching engine to Options PIPE
Fundamental Interactions, a provider of low-latency market data, risk management and order routing solutions, has deployed its FIN Virtual Exchange order matching and execution engine on the Options PIPE platform provided by financial cloud services provider Options IT.
The FIN Virtual Exchange is a multi-asset, multi-region virtualised order book and matching engine for trade aggregation, order crossing, order routing and trade execution. The Options PIPE private financial cloud is a managed global financial technology infrastructure service that provides low-latency market data, execution connectivity and co-located managed hosting for financial applications.
Market operators, brokers and dealers will now have access to FIN Virtual Exchange as a managed solution via the Options PIPE Velocity private cloud service.
“We’re delighted to work with Options IT to make it cheaper, faster and easier for brokers to access the technology they need to optimise execution of client order flow,” said Julian Jacobson, president at Fundamental Interactions.
Connamara Systems releases open-source FIX offering
Trading systems and market data provider Connamara Systems has released a new product that helps build FIX-enabled applications using Microsoft .NET technologies.
QuickFIX/n is a new open source, .NET version of the original open source FIX libraries of QuickFIX and QuickFIX/J. Until now, any financial firm’s .NET developers using QuickFIX required using a C# wrapper provided with QuickFIX – leading to increased complexity and overall message latency as compared to the unmanaged C++ version.
QuickFIX/n is free to use. Connamara has promised to provide the same level of support as it provided for previous releases.
“We at Connamara have always been supporters of open source, QuickFIX and FIX,” said Jim Downs, founder and CEO of Connamara. “Our hope is that the QuickFIX community embraces QuickFIX/n with the same enthusiasm and support as the have with QuickFIX and QuickFIX/J.”
BIDS Trading partners with CFS for minority trading
Clancy Financial Services, a New York-based agency broker for institutional investors, and BIDS Trading, an alternative trading system (ATS) for equities trading, have signed a sponsorship agreement that provides CFS’ clients with anonymous, direct access to liquidity in BIDS Trading’s crossing network, while earning minority business enterprise credits.
Through the agreement, CFS customers are now able to directly and anonymously source block liquidity in both BIDS Trading and dark trading venue New York Block Exchange (NYBX). Since CFS is a woman-owned broker dealer, this provides institutions that have diversity targets with a way to boost their minority woman-owned broker dealer use, without forcing them to avoid direct-access options.
BIDS Trading is designed to allow market participants to trade in blocks without revealing their order. Information disclosure is controlled by the trader via customisable trading tools. Traders set minimum block sizes to help protect their order and can filter out counterparties based on past trading behaviour.