SunGard, TMX/ASX, Interxion and more…

The brokerage house of Poland's Alior Bank has selected SunGard’s Valdi trading tools for connectivity to the Warsaw Stock Exchange.

By None

Poland’s Alior selects SunGard connectivity solution

The brokerage house of Poland's Alior Bank has selected SunGard’s Valdi trading tools for connectivity to the Warsaw Stock Exchange.

The bank’s brokerage arm, which is part of Italian company Carlo Tassara Group, will use tools such as Valdi Selector for risk management and Valdi Program Trader for basket trading and index arbitrage capabilities.

SunGard will also connect its online retail-trading platform to the Valdi order management solution for routing orders to the WSE.

Philippe Carré, global head of connectivity for SunGard’s capital markets business, said the move would give the bank better connectivity to markets in Poland and abroad.

“SunGard can help fast growing firms like Alior Bank leverage the latest technology to trade on their local exchanges while also helping them to connect quickly and easily to global markets,” Carré said.

TMX risk solution goes live on ASX

The technology solutions arm of Canadian exchange group TMX has launched the latest version of its Razor Risk technology at the Australian Securities Exchange (ASX).

Razor Risk 3.0, a risk management tool acquired by TMX in February 2012, offers significant speed of the calculations for margining, as well as for capital and liquidity stress tests.

"Participants can now familiarise themselves with their potential margin calls in the equity market before ASX Clear starts calling margins in June of next year," said Paul Jones, general manager, ASX clearing risk policy. "We look forward to continuing to work with Razor Risk as we enhance ASX Clear's stress testing and intraday margining capabilities."

Razor Risk, which was acquired by TMX Group in February 2012, is a provider of risk management technology and consulting solutions to financial institutions worldwide.

Sinara choose Interxion to broaden customer base

Sinara Consultants, a financial technology software vendor, has relocated its market data platform, development systems and test beds to data centre operator Interxion’s London facility.

Sinara, which provides market data solutions using feeds from various exchanges, will be able to easier link with customers using Interxion’s cross-connects with market data vendors and connections to major trading venues.

“We required a co-location provider that offered the connectivity and reliability to allow us to operate critically important hosted solutions for our clients,” said Phil Bain, director, Sinara. “Interxion’s data centre campus is home to an extensive electronic trading community of potential customers and partners, and the ability to benefit from direct cross-connects to those organisations was a significant factor in our decision to select Interxion.”

New order type debuts at ISE

The international securities exchange (ISE) has completed the roll out of its new implied order functionality for all products traded on its complex order book.

The US options exchange first introduced implied orders in May, allowing greater interaction of multi-legged orders on the complex order book with liquidity on its regular order book. Implied orders match or improve on the ISE’s best bid or offer on one portion of a legged order and displays liquidity on the complex order book to the Options Price Reporting Authority.

Implied orders automatically result in the execution of a strategy order by executing the other component of a legged order against resting liquidity. According to ISE, the new functionality has resulted in tighter spreads on its regular order book.

"The roll out of implied orders has surpassed our expectations. Customer feedback has been extremely positive since Implied Orders leverage liquidity across the entire industry and multi-legged orders routed to ISE have a much higher probability of execution than at other venues," said Boris Ilyevsky, managing director of ISE's options exchange. "Our high fill rates combined with our very competitive pricing structure mean that ISE should be the top routing destination for multi-legged orders” he added.