Traders get class actions data
Trading technology provider UNX is partnering with investment services firm International Class Actions Management (ICAM) to integrate ICAM's securities data and research services into the UNX Catalyst execution management system (EMS).
The two firms are developing a plug-in that will feed ICAM services directly into the Catalyst EMS, which will allow traders to query ICAM's database for past and present events that could affect any security they intend to trade or hold. They will also be able to add functionality, update their offerings and integrate applications without having to involve UNX staff and incur extra costs.
ICAM provides data, support and outsourcing services to help clients manage the impact of securities class action claims and other adverse events.
Deutsche Börse picks Cinnober for market surveillance
Deutsche Börse is to implement market surveillance technology provided by trading solutions firm Cinnober, on its cash market Xetra and the derivatives market Eurex Exchange.
Following the licensing agreement between Deutsche Börse and Cinnober, the firm's Scila Surveillance technology will replace Deutsche Börse's in-house solution, allowing the exchange to monitor trading in batch and real-time mode simultaneously.
All market data is retained by Scila and kept available; a customisation for Deutsche Börse means that the system enables graphical replays of market situations. Scila will be able to handle more than 100,000 transactions per second to improve market integrity and security.
First Clearing selects NYSE Technologies for routing
First Clearing, a trading services provider affiliated to Wells Fargo & Company, has chosen trading technology provider NYSE Technologies to provide enhanced routing capabilities, new risk management functionality and reduced overall operating costs via its hosted transaction hub.
The hub will consist of its managed connectivity and Risk Management Gateway platforms and NYSE Technologies will integrate this customised infrastructure alongside its core secure financial transactions infrastructure connectivity service. This will allow First Clearing's sell-side customers to access a hosted order transaction platform and market data infrastructure with sub-millisecond access to nearly 50 execution venues in the US.
While outsourcing their direct market access routing systems NYSE Technologies, users can retain control of their order management, connection status and specific risk filters using a web-based interface. The hosted transaction hub for First Clearing is scheduled to be fully operational in the first quarter of 2011.
Inforeach proposes test symbol set
Trading technology provider InfoReach has proposed the collaborative use of a single set of fake ”test' symbols, that market participants can use to verify live routing and trading capabilities and test new algorithms without the need to put real money in the markets. The symbols proposed by InfoReach are OOOO and 0000 for character-based and numeric symbology markets.
While a few of the largest exchanges offer their own test symbols – such as “ZVZZT” for the US Nasdaq market – there is no standard symbol that is universally recognised and not all trading participants support the use of test instruments, forcing their counterparties to use actual financial instruments in the production environment.
Under Inforeach's proposals Traders can send a ”dummy' order in the production environment using the appropriate fake symbol. Once the dummy order is received, the trading counterparty must acknowledge receipt of the order and/or simulate execution. The lack of order acknowledgment/execution or rejection of the order will indicate that the ability to handle live orders might be compromised at the transaction destination.
Morningstar provides OTC data
Investment research firm Morningstar has added OTC Markets Group data to its Morningstar Quotes Data Feed. The latest addition complements the existing real-time and fundamental data sets, adding real-time pricing data of more than 10,000 OTC securities.
OTC Markets Group operates the world's largest electronic interdealer quotation system for broker-dealers to trade unlisted securities.
Morningstar's data feeds are designed to deliver fast, reliable data from all the major equity exchanges and indexes worldwide, as well as foreign exchange and treasury markets. Data is currently available for more than 4 million global instruments including futures, options, commodities and precious metals.
Trading Technologies connects Japanese derivatives venues
Trading software provider Trading Technologies International (TT) has broadened access to the Japanese derivatives markets with new connections to Tokyo Financial Exchange (TFX) and the Tokyo Grain Exchange (TGE).
TT's recently launched TFX gateway directly connects to its X_TRADER derivatives trading platform and relating trading products to TFX, Japan's second largest derivatives exchange. Through the gateway, TT customers can trade the exchange's benchmark three-month euro yen short-term interest rate futures contract.
The firm also plans to link the Osaka Securities Exchange (OSE) by 14 February 2011, to coincide with the launch of the venue's new J-GATE derivatives trading platform. With the addition of TFX, TGE and the OSE, TT will be able to provide users access to four of the top five Japanese derivatives exchanges.
TNS offers access to BOX
An agreement between Boston Options Exchange (BOX) and global connectivity provider Transaction Network Services (TNS) will give traders low-latency connectivity to the exchange's options market via a single connection to TNS' Secure Trading Extranet.
Launched in 2004, BOX is an all-electronic equity options venue jointly owned by Canadian exchange group TMX and seven brokers. The connection to TNS is part of the exchange's drive to expand across the US, allowing members more choice in how they access the market.
TNS currently provides services in over 40 countries across America, Europe and the Asia-Pacific region, via more than 115 connection points.