SWIFT affirmation application supports EMIR
Financial messaging provider SWIFT’s Affirmations application now supports compliance with the European market infrastructure regulation (EMIR) by making multi-asset class electronic confirmation matching accessible to market participants.
The Affirmations application, in conjunction with the firm’s Alliance Lite2 tool, lets firms automate processing of instruments currently done manually, such as foreign exchange, money market, derivatives and commodities transactions.
“Under the terms of EMIR, investment banks need to automate the processing of confirmation not just with their market side counterparty brokers, but also with the investment manager and corporate buy-side clients,” said Paul Taylor, director, global matching for SWIFT.
“This services the requirement of both sell- and buy-side firms and makes automating treasury confirmations easy and cost-effective,” he said.
Redline offers synthetic NBBO calculation
Redline Trading Solutions’ ultra-low latency InRush 3 ticker plant will calculate a synthetic national best bid and offer (NBBO) from direct options exchange feeds.
The tool will provide pricing information significantly faster than its consolidated OPRA NBBO tool, which provides banks and trading firms with an accurate view of the market.
“The more accurate options pricing that this solution delivers is enabling our customers to achieve higher fill rates and improve trading profitability,” said Mark Skalabrin CEO, Redline Trading Solutions.
Rimes opens Singapore office
Buy-side focused managed data services provider, Rimes, has opened a Singapore office as it expands its Asia-Pacific presence.
The office will be led by Thomas Gooding, sales manager for Asia, reporting to Ed Batt, global head of sales, for Rimes. The firm already has offices in Sydney and Shanghai. Rimes said in a statement that investment managers in the region are looking for greater data management requirements driven in large part by new regulation.
“Establishing a new local office is recognition of the growing importance of Asian financial markets and our commitment to investment managers in the region,” Gooding said. “Having a physical presence in Singapore will allow us to develop strong relationships with Asian buy-side firms, understand their data management pain points and deliver expert service and solutions.”
FlexTrade selected by United Overseas Bank
Execution and order management system provider FlexTrade’s FX trading solutions MaxxTrader and FlexFX will be used by Singapore-based United Overseas Bank (UOB) to facilitate its global FX trading.
The bank will also use FlexTQM, the firm’s transaction quality management platform for real-time and historical transaction cost analysis. The combined tools let UOB cover the full trading life cycle for FX.
“As Asian investors grow more affluent and sophisticated, we are seeing an increase in demand for electronic trading in the region,” said Low Teck Ngee, UOB’s user project manager and head of demand management, global treasury.
Warsaw Exchange launches high-performance access
Warsaw Stock Exchange (WSE) has launched fast access to its platform for members, their clients and data vendors using co-location services.
The exchange successfully migrated to NYSE Technologies trading infrastructure, the Universal Trading Platform, in April, which lets firms access the exchange at low-latency. The High Performance Access (HPA) will enable members and information distributors to co-locate hardware and software in the immediate vicinity of the WSE trading system, minimising order roundtrip latency and reducing execution risk.
“The co-location service is currently offered by most of the important global stock exchanges. We are always sensitive to our clients expectations so we aim to continually improve our offer by adding new top-level services,” said WSE CEO Adam Maciejewski.
Tbricks replaces Carnegie pricing and market maker system
Automated trading systems provider Tbricks will replace Stockholm-based investment bank Carnegie’s infrastructure for pricing and market making.
Tbricks will provide Carnegie with support for pricing and market making options and exchange-traded funds and well as the capacity to execute algorithms, spreading and smart order routing to support current operations.
“We wanted to invest in a modern and flexible trading system where customisation and adaptation to new business were easy to accommodate,” said Fredrik Arfelt, head of sales trading, Carnegie.