Tradeweb adds interdealer CDS liquidty
Fixed-income markets provider Tradeweb Markets will enable buy- and sell-side clients to access the same bids and offers from liquidity-providing dealers on its electronic credit default swap (CDS) index market iTraxx.
Dealers will be able to trade with each other in an order book environment, while buy-side firms will have greater ability to trade in size with greater efficiency in accessing liquidity and hedging risk.
“Trading of CDS indices is a unique area where electronic trading has penetrated the dealer-to-client space far faster than it has in the inter-dealer space,” said Enrico Bruni, managing director, head of European and Asian business. “By bringing these market segments closer together, we’re creating a more efficient marketplace that improves transparency and liquidity for all market participants.”
Quanthouse partners with BT to build Asia presence
Trading solutions provider Quanthouse is expanding its Asia operations by linking up with BT. Quanthouse will use BT Radianz services to distribute low-latency Europe and US market data feeds to market participants located in Asia-Pacific.
BT Radianz Cloud will offer Quanthouse clients access to data while BT Radianz Venue Interconnect will offer low-latency connectivity between London and Singapore, Singapore and Tokyo and Tokyo and Chicago.
“BT’s distribution capabilities in Asia will enable us to make our services more readily available throughout the region” added Stephane Leroy, vice-president, head of global real time solutions at S&P Capital IQ, parent company of Quanthouse. “Due to the strategic importance of the Asia-Pacific market and the attractive growth that the region is experiencing, we are keen to further our presence in the area and look forward to working with BT in the medium-term.”
New brokers join Omgeo’s ETD matching service
Post-trade solutions provider Omgeo has signed up 28 buy-side and broker-dealer firms to new exchange-traded derivatives (ETD) functionality in its matching service.
The ETD functionality will be built into Omgeo’s Central Trade Manager (CTM), which matches equity, fixed income, futures and listed options, ETDs and contracts for difference trades.
“Many of our clients want to operationally standardise their ETD post-trade processing with their equity and fixed income transactions, which are usually matched on the same day as trade date,” said Ted Leveroni, executive director of derivatives strategy and external relations at Omgeo. “We added ETD functionality to Omgeo CTM because we recognised that there was a need for a community-based solution that addressed the emerging regulatory framework around transparency and risk mitigation in the processing of derivatives.”
Warsaw exchange sets date for platform switch
The Warsaw Stock Exchange will officially move to NYSE Technologies’ Universal Trading Platform (UTP) on 15 April after positive initial testing of the system.
The system, which is used by all NYSE Euronext venues, is undergoing the final phase of testing and integration.
“The Warsaw Stock Exchange has entered the stage of fine-tuning the system parameters before the phase of migration from Warset to UTP. We are working together with our partners to conduct this very important technology project,” said Adam Maciejewski, president of the management board of the Warsaw Stock Exchange.
Jefferies selects IPC Systems’ to grow international business
Trading solutions provider IPC Systems will provide US investment bank Jefferies with two of its technology products to help expand its international business.
Jefferies will use the Connexus Financial Extranet service and the Direct Connect data service for to access market participants, venues and market data providers across the globe.
“We needed fast, flexible service to reach our clients and our providers. IPC’s Connexus and Direct Connect provide us with professionally managed connectivity that enables us to reach customers, liquidity venues or anyone else we need to reach when and where we need to reach them,” said Sean Milligan, senior vice president, technology, at Jefferies.
Charles River expands buy-side outsourcing
Trading technology provider Charles River Development on-boarded new, or expanded existing, offerings to 31 investment management clients in 2012.
This expansion signals a growth in buy-side firms transitioning to fully-outsourced solutions encompassing front-, middle- and back-office functions.
“Charles River has evolved from a software vendor to a provider of fully-outsourced, end-to-end investment management solutions for buy-side firms,” said Peter Lambertus, president and CEO, Charles River. “As the only provider of a completely integrated order and execution management system, we continue to enhance our software with trading analytics, transaction cost analysis, real-time data, charting and news, to provide better execution capabilities across asset classes.”