Corretora uses SunGard to go global
Intercap Corretora, the brokerage services arm of Brazilian bank Banco Intercap, has selected trading technology provider SunGard's Valdi solution to help it expand its business globally.
Valdi will let Corretora provide clients with access to new asset classes and new markets around the world, through a single low-latency platform. In addition, it should help the firm increase efficiency by automating the trade lifecycle with trades managed and executed on a single platform. It will also generate and send orders to futures markets with real-time connectivity.
“With the electronification of the market, Valdi will help us increase our capacity to help clients execute high performance trades by offering low-latency execution,” said Alcides Venancio Junior, director of technology at Intercap Corretora.
QuantHouse picks Level 3 for London to Stockholm link
Systemic trading solutions provider QuantHouse has chosen communications provider Level 3 Communications to provide ultra-low latency connectivity services from London to Stockholm.
Level 3's low-latency route services allow customers like QuantHouse to connect to all of Europe's top financial centres via nine different European route options. The company also provides high-speed connectivity from Europe to the top US financial centres.
QuantHouse provides technology to market makers, proprietary trading desks and latency-sensitive sell-side firms to support accessing low-latency market data, algorithmic trading development, proximity hosting and order routing services.
“Our customers not only want the fastest connectivity, they want the flexibility to easily reach the market of their choice, using the most advanced technology possible with as little risk as possible,” said James Heard, president of European markets, Level 3.
The Order Machine expands for derivatives trading
Dutch regulator The Netherlands Authority for the Financial Markets has granted The Order Machine multilateral trading facility (TOM MTF), the Netherlands-based retail-focused MTF, an extension of its licence to allow it to trade derivatives.
The firm now expects to launch derivatives trading for retail investors in Q4 this year, at which point TOM MTF will start to offer comparisons of derivatives prices on various platforms for retail investors.
For all derivative transactions entered into on TOM MTF, Holland Clearing House will act as central counterparty, thus assuming the counterparty risk of the transactions.
Initiated in 2009 as a joint venture between electronic market maker Optiver and BinckBank, TOM is a platform based on enabling best execution of retail transactions for its clients, as required by MiFID. TOM consists of an MTF and a system for tracking the best execution prices found across exchanges.
RTS implements market data distribution package
Russian exchange RTS has implemented a new configuration for distributing market data via the Plaza II protocol, which will allow firms to assign priorities for incoming data flows to reduce latency spread while receiving trading data.
The implementation requires firms to install distribution software packages on the client side, available from the RTS website.
Backward compatibility of the connection configuration will be supported to 22 July.