Greywolf Execution Partners selects SunGard technology
Greywolf Execution Partners, a NYSE Euronext member trading firm, has implemented trading technology provider SunGard's Valdi order management system (OMS), Valdi Liquidity Solutions, MarketMap and SunGard Global Network (SGN) to support its institutional trading business.
SunGard's global trading solutions will help Greywolf enter new markets and trade new asset classes. SunGard will also help Greywolf increase its speed of execution with a more streamlined trade lifecycle.
Greywolf has also signed up for the Valdi Shares Reward Program, which provides non-fiduciary sell-side firms with the ability to earn credits towards technology fees and reduce their overall technology costs when executing or clearing trades through SunGard's Valdi Liquidity Solutions suite.
Through the SGN, SunGard provides connectivity to global markets reaching over 1,600 buy-side firms and more than 500 liquidity providers through a single broker-neutral platform. SunGard's MarketMap, provides access to global market and fundamental data, charting and news.
Qatar Exchange completess SFTI partnership
Qatar Exchange (QE), telecommunications provider Qatar Telecom (Qtel) and exchange group NYSE Euronext have finalised a partnership agreement to enable the extension of the Secure Financial Transaction Infrastructure (SFTI) network platform to Qatar.
The network will connect market participants in the US and Europe to the Qatar markets. Qtel will provide global connectivity, a disaster recovery solution, and premium network services to support the extension of SFTI to Qatar.
Many US and European financial institutions including brokers and investors are already connected to the SFTI via access centres in Europe, Asia and the US, enabling them to access markets or offer their own value-added services.
“Today's implementation is another step towards our long-term goal of establishing Qatar Exchange as a tier-one equity market,” said Andre Went, CEO, QE. “The stability and security provided by our network solution will enable the introduction of 2011, demonstrating the benefits of the strategic partnership between Qatar Holding and NYSE Euronext.”
QE migrated to NYSE Euronext's Universal Trading Platform in September 2010.
Nasdaq OMX offers mass data solution
Exchange group Nasdaq OMX and cloud services data technology provider Xignite have launched Mass Download, a new tool that allow trading firms to back-test algorithmic strategies.
Mass Download represents a major expansion to Nasdaq's Data-On-Demand cloud service for historical stock trade and quote data and will be powered by Xignite's technology platform. Nasdaq OMX will offer Mass Download free of charge to Premier subscribers of Nasdaq Data-On-Demand.
Mass Download delivers highly customised data sets from the terabytes of stock trade and quote data generated every year by US stock exchanges. Users are able to download large files including up to three years of historical stock trade and quote data. Data sets can be customised by selecting only the ticker symbols, data fields, dates and times needed.
“Instead of downloading billions of trades into your own database just to calculate analytics like volume weighted average price or back-testing your strategies, you can now ask Data-On-Demand to give you only the data you need or even do the calculations for you,” said Stephane Dubois, CEO, Xignite. “You no longer need to store data you will never use. Just go to the cloud when you need it.”
BAML adds algos to EMS
Bank of America Merrill Lynch (BAML) has enhanced its execution management system (EMS) InstaQuote with the addition of its ETF-aXe and Pairs algorithmic trading strategies to the platform.
ETF aXe is an exchange-traded fund (ETF) specific algo that analyses market depth and price data across an ETF's underlying portfolio to identify the most efficient combination of ETF, stock and futures, before automatically sourcing liquidity and obtaining the best prices.
BAML's Pairs trading algorithm enables clients to implement market neutral strategies using its infrastructure and technology to access liquidity sources and provide low-latency execution.
In addition, the EMS has also added customisation options that allow traders to configure workflow patterns to allow for faster and easier order entry and monitoring.
NYSE Technologies unveils twin liquidity centres
NYSE Technologies, the commercial technology division of exchange group NYSE Euronext, has launched two liquidity centres in Chicago, US and Toronto, Canada.
The NYSE Technologies Liquidity Centre Network was created to provide a base set of trading, data and connectivity applications that enable traders to access key global markets that may have been prohibitively expensive or difficult connect to in the past.
The new facilities join the firm's existing centres in Mahwah, New Jersey and Basildon, London, and are intended to link to a broader network of installations that will feature NYSE Technologies products and services tailored to support access to markets, data and trading infrastructure services.
Offerings include the Risk Management Gateway, which provides low-latency markets access; SuperFeed, a high-performance market data ticket plant and distribution system; and Marketplace, a FIX-based trading community with more than 1,200 market participants.
The new liquidity centres in Chicago and Toronto will be followed by additional facilities in London, Tokyo and Brazil in 2011.
Orc supports Turquoise Derivatives
Trading technology provider Orc Software has connected to Turquoise Derivatives, the multilateral trading facility (MTF) owned by the London Stock Exchange Group.
Turquoise Derivatives is expected to become the first MTF to offer derivatives trading and will offer multi-listed derivatives, under which the same or economically equivalent derivative contracts are traded over two or more markets.
The venue will run on the SOLA platform, a technology that is already supported by Orc.
“A multi-listed environment is interesting for both market makers and high-frequency trading firms and we believe it is essential to support Turquoise Derivatives from the first day of trading,” said Lee Griggs, president EMEA, Orc Software.