SunGard adds support for TSE derivatives and LCH IRS service
Market participants can now use Valdi, the execution management system provided by financial technology firm SunGard, to trade futures and options on the Tokyo Stock Exchange’s new Tdex+ platform.
The unified Tdex+ platform is designed to help TSE member firms and clients trade strategies for futures and options more rapidly and efficiently. These strategies are often used to support hedging and market making. SunGard’s Valdi is built to aid the creation and trading of multi-instrument strategies and also supports the associated cross-asset risk management.
In addition, SunGard’s Stream GMI solution for post-trade listed derivatives clearing now supports clearer LCH.Clearnet’s OTC interest rate swap (IRS) clearing service, SwapClear, in the US. Stream GMI’s support of SwapClear in the US, combined with its existing support for SwapClear in Europe, is designed to provide clearing members and market participants with processing and accounting support when clearing interest rate swaps.
Because Stream GMI consolidates back-office processing of all centrally-cleared products on a single platform, customers can clear IRS through SwapClear alongside traditional listed derivatives, helping to give them greater control over risk.
“Stream GMI provides a streamlined solution for the cleared interest rate swap market as it eliminates the need for multiple systems and provides comprehensive, consistent and accurate information,” said Floyd Converse, head of US SwapClear sales and marketing at LCH. Clearnet.
Straits Financial joins Patsystems network in Singapore
Singapore broker Straits Financial has joined the XConnect network hosted by Patsystems, a derivatives trading and risk management solutions provider, to facilitate its global exchange-traded derivatives business in Singapore.
Through Patsystems XConnect, customers of Straits Financial will have access to several futures exchanges, including CME Group, the Intercontinental Exchange, Singapore Exchange, Hong Kong Exchanges and Clearing, Tokyo Commodity Exchange and the London Metal Exchange.
Straits Financial will be able to monitor and control its clients trading activity using Patsystems pre-trade risk management system.
“Patsystems offers trading tools that suit a range of customers, from retail traders to large institutional groups,” said Joseph Mazurek, president, Straits Financial. “We selected Patsystems because of their ability to cater to our diverse set of customers, their solid risk management capabilities and their extensive market connectivity.”
Fidessa offers DMA to Mexican exchange via local broker
Mexican financial institution Grupo Financiero Banorte has joined the connectivity network hosted by trading, investment management and information solutions provider Fidessa. The deal offers network members access to proximity hosted and co-located DMA to Mexico’s stock exchange, the Bolsa Mexicana de Valores (BMV).
The move is a result of GFNorte’s merger with IXE Grupo Financiero in the first quarter of 2011. IXE has operated through Fidessa’s connectivity network for more than two years, offering trading strategies and algorithms such as volume-weighted average price (VWAP), time-weighted average price (TWAP) and percentage of volume (PoV) to help its clients trade.
It has also offered co-located market data via FIX and a low-latency gateway to the BMV, as well as dedicated channels from New York. The same electronic capabilities are now available to Fidessa network members via GFNorte, but the larger group also offers enhanced local flow, making natural crossing and block trading easier.
Fidessa has extended its Mexico and Brazilian trading platforms and increased the reach of its trading network, which now has more than 3,000 members from both the buy-side and sell-side, covering 154 markets across EMEA, Asia Pacific and the Americas.
GFNorte is the third-largest financial institution in Mexico, measured in terms of loans, deposits and distribution network, and fourth largest in terms of assets. As of June 2011, GFNorte’s total assets were valued at US$55.53 billion.
Trayport unveils improved trading screen
Energy trading solutions provider Trayport has launched Joule, its new trading screen, which is designed to offer significant improvements in trading abilities, customisation options, speed and market making capabilities.
Improvements include the ability to dock and stack market sheets, view trade history, market depth and use chart and watch list windows. Users can now manage their market making commitments within dedicated screens. They can control multiple orders with a single screen whilst automating price updates based on other market prices.
To help make workflows simpler, users can update and trade with a single click and update prices directly from the keyboard. They can unify order entries for standard and automated order and open charts directly from live market contracts in a single click. New charting abilities will also let users view market trends via candlestick, volume and price plots and interact with charts.