BNY ConvergEx Group, a provider of agency brokerage and investment technology solutions, and Code Red, a provider of research management solutions provider, announced yesterday a strategic alliance to provide Jaywalk’s independent research reports through Code Red’s Red Alerts research management system (RMS) and their IdeaNet research distribution hub.
Telekurs says that Mellon Financial has bought its Valordata Feed as part of its enterprise-wide, global reference data infrastructure.
Mellon, using subsidiary Eagle Investment Systems' (Eagle) data management application, will use the Valordata Feed (VDFTM) to integrate a broad range of securities reference data from VDF - including security descriptions, ID cross-reference and corporate actions/events - into Mellon's Eagle PACE solution.
Interactive Data Corporation says HedgeSpeed Technology has bought its Pricing and Reference Data services as a main source of financial data for its middle-office liquidity management software platform.
Data Verification Time (DVT) is stalling the financial services industry, according to Brian Sentance, CEO of Xenomorph, a data management solutions provider.
Research and other trading staff are spending around half their working day manually validating data, and not enough time analysing it and creating value, he says. With increasing data volumes, data sources and data complexity, this vital productivity issue is set to get worse unless it is effectively addressed, warns Sentance.
F&C Asset Management has chosen Citadel Associates' CADIS as its data management platform. The product was chosen following a search and selection process.
"We are delighted that F&C has selected CADIS to build an Investment Solutions Layer for its Data Management function. We look forward to working closely with them and to building a long-term relationship with such a high profile client," says Jean Williams, CEO of Citadel Associates.
Calypso Technology, a provider of capital markets trading software solutions, yesterday announced that it has received Certified Alliance Partner status under Markit's certification program which was launched in January 2007. Calypso is the first provider of trading and trade processing solutions to successfully complete the certification program.
Capital markets technology provider Millennium Information Technologies announced yesterday that the latest release of Millennium Exchange, its multi-product trading platform, has been measured in performance tests to have latency less than 1 millisecond.
An independent study conducted by the Securities Technology Analysis Centre (STAC) recently provided evidence that latency spikes common to traditional market data environments can be substantially reduced by implementing the Wombat solution on an infrastructure comprised of Cisco low-latency InfiniBand Server Fabric Switches (SFS) and AMD Opteron processor-based servers.
BT Radianz, a financial services connectivity provider, has announced the launch of Radianz Ultra Access, a service that provides ultra low latency connectivity between exchanges and brokers in the New York metropolitan area. Radianz Ultra Access will allow transaction speeds of approximately one millisecond between local market participants and market data / execution venues that will include Boston Options Exchange, BATS ECN, International Securities Exchange, the NASDAQ stock market, NYSE and NYSE Arca, amongst others.
Reuters has unveiled a package of measures designed to help clients meet the requirements of MiFID, which will come into effect on November 1, the FT reports.
Reuters will provide a consolidated display of prices from all execution venues, publish quotes and details of trades executed, and provide a transaction cost analysis tool based on standardised benchmarks developed with 10 to 12 firms on both the buy side and the sell side, the FT reports.