Evli turns to Tbricks
Finland's Evli Bank, an investment and wealth management bank, has introduced trading technology firm Tbricks' platform for dealing in Nordic cash and derivatives markets.
Evli, which offers execution services to clients in Finland, Sweden, Estonia,
Lithuania and Russia, will use the system for all of its trading and market-making activities, to provide direct exchange connectivity as well as connections via third-party execution platforms.
The bank will also make use of Tbricks' new risk management module, which aggregates values such as option sensitivities, offering users a view of market exposures.
Evli traders will be supplied with a library of trading applications and will have the ability to build their own strategies using the Tbricks framework.
BATS Europe offers latency monitoring
Pan-European multilateral trading facility (MTF) BATS Europe has launched a real-time latency monitoring service, designed to enable market participants to monitor order latency at a microsecond level in real-time, via the BATS Europe website.
Using this tool, authorised users can analyse order and quote latency for their ports on BATS Europe. The new offering does not require participants to purchase additional hardware or third-party software.
Latency statistics include order count, minimum latency, average latency and standard deviation. Statistics are displayed for both 1-gigabit and 10-gigabit connections along with any perceived sub-optimal network routing.
The new service is offered at no charge on all BATS Europe FIX ports to existing BATS Europe participants. Participants with access to the BATS Europe Ports Dahsboard will automatically gain access to the new real-time latency-monitoring tool.
SIX expands liquidity tool for mid- and small-cap stocks
SIX Swiss Exchange has expanded its transparency tool, the Equity Liquidity Matrix (ELM), to cover all SPI securities including mid- and small-cap securities. The free web-based tool was originally launched for investors trading Swiss blue chips.
ELM is designed to provide market participants with a clear view on liquidity levels. It allows them to monitor in real-time the order book liquidity for several index aggregates and their individual constituents that are traded on SIX Swiss Exchange and at least one multilateral trading facility.
It also provides a global view of five standard liquidity measures, including a ranking of the order books. Four of the five measures focus on pre-trade data. All data is aggregated daily at individual securities level.
ELM delivers average trade size, average executable size at best spread, average spread, European best bid and offer (EBBO), and EBBO with largest executable size. The offering uses cross-market data provided by US-based performance and market quality assessment service provider Transaction Auditing Group.
Rafferty opts for SunGard OMS and DMA
Broker-dealer Rafferty Capital Markets has selected SunGard's Valdi order management system and DMA for its institutional trading business.
Valdi is designed to provide a consolidated view of trading across global markets with access to positions and risk management for multiple asset classes and currencies. The product includes specialised front-end profiles for market making, agency and proprietary trading.
Rafferty has stated it selected SunGard's Valdi because the offering provides integrated software and execution services, as well as real-time trading, exposure and risk management. Michael Rafferty, president of Rafferty Holdings, added that the firm hoped to use Valdi to capitalise on growth opportunities through multi-asset class trading and low-latency access to liquidity.
Equiduct joins Interexion at London data centre
Pan-European trading platform Equiduct has moved its matching engines into service provider Interexion's City of London data centre.
Equiduct has stated that it aims to help retail firms to provide executions at the best price available across Europe. Peter Randall, CEO at Equiduct, said that Interexion's pan-European footprint of data centres would enable the firm to get closer to its retail clients.
Interexion currently serves over 1,100 customers through 28 data centres in 11 European countries. The firm has connectivity provided by 350 carrier and internet service providers and 18 European internet exchanges.