UBS adds liquidity provision to FXSpotStream
UBS has gone live as a liquidity provider bank on price aggregation service FXSpotStream. UBS is the eighth bank to become available to FXSpotStream clients, joining Bank of America Merrill Lynch, Citi, Commerzbank, Goldman Sachs, HSBC, JP Morgan and Morgan Stanley.
In addition to the banks, most of FXSportStream’s parent company LiquidityMatch’s shareholders also act as liquidity providing banks on the service.
FXSpotStream CEO Alan Schwarz, said: “Since we launched in late 2011 we have remained focused on growing the number of liquidity providers and clients on FXSpotStream and enhancing the offering by adding client driven functionality, which will include a GUI planned to be in production later this quarter.”
FXSpotStream provides multibank FX aggregation services. It provides the infrastructure that facilitates the multibank API and associated routing mechanism, allowing it to route trades from clients to liquidity providers.
Clients can access the API from sites in New York, London and Tokyo to communicate with all liquidity providing banks connected to FXSpotStream. The service does not charge brokerage fees to clients or liquidity banks.
DealVector launches communication network for illiquid assets
A new electronic communications network for fixed income and illiquid asset market players will let them see who is on the other end of a trade.
The network lets participants ‘opt in’ and directly message the owners of financial assets so issuers, investors, advisors and collateral managers can communicate to address specific issues and effectively source illiquid assets.
“Investors in the alternative investment space have long searched for a solution that provides a secure method to pinpoint other holders in a specific deal without having to give away their position or personal information,” said David Delo, chairman at Southport Asset Management, a firm that will use the service. “DealVector has addressed that issue by creating the first social networking platform that preserves privacy while fostering communication between investors in the structured credit and fixed income communities.”
Fixnetix provide European execution and data for top tier bank
Low-latency market data and trading services provider Fixnetix will provide European market data, trading execution and post-trade services for a non-EU regulated tier one bank.
The three-year contract means the bank will use Fixnetix to route all orders in Europe in addition to all market data needs.
“The complexity of managing market data has increased with the rising volume of electronic communications,” said Hugh Hughes, CEO, Fixnetix. “Our customer chooses Fixnetix for operational efficiency, support, speed and reliability.”
PFSOFT use ACTIV Financial market data for trading platform
Market data provider ACTIV Financial will offer its European equities, options and futures data to trading platform provider PFSOFT.
PFSOFT will use the data to help buy- and sell-side clients meet the increasing need to extend electronic trading capabilities beyond equities, and the data will be accessed via ACTIV’s Protrader platform.
“PFSOFT strives to provide the most comprehensive solution for its clients,” said Denis Borisovsky, CEO, PFSOFT. “Integration with ACTIV Financial is a valuable addition to our product diversity and we are glad that multiple brokers are starting to work with ACTIV’s services.”
Volta London data centre hosts managed services provider
Volta Data Centres will host managed services and business security provider Fusion Media Networks in its new Great Sutton Street data centre.
The new central London data centre lets Fusion provide low-latency services to the financial community over its ethernet infrastructure and ranks as one of the top five network connectivity providers nationally.
“We have invested in the latest technology to ensure our network infrastructure delivers market-leading performance and we are confident that Volta’s Great Sutton Street Data Centre will meet our demanding requirements for high speed connectivity and ultra-low latency,” Lee Norvall, CTO at Fusion, said.