TRADING PACES: Chi-X Japan Launches Hosted Risk Controls
May 22, 2012
Chi-X Japan launches hosted risk controls. Interactive Data awarded third patent for fair value pricing. KBC signs up for Arkelis’ Advanced Messaging Hub.
CHI-X JAPAN: The alternatives exchange has introduced Hosted Risk Controls (HRC), offering trading participants a customizable set of pre-trade risk controls – including notional limit, lot size, tradeable stock lists and max shares – for their clients.
A wholly owned subsidiary of Chi-X Global, Chi-X Japan competes primarily with the Tokyo Stock Exchange (TSE) and the Osaka Securities Exchange (OSE). Owned by a consortium of major financial institutions, Chi-X Global operates Chi-X Australia, Chi-X Canada and Chi-X Japan.
INTERACTIVE DATA CORP.: The provider of independent evaluated pricing and valuation services has been granted a third patent by the U.S. Patent and Trademark Office for the fair value pricing of a financial asset. The new business processes covered under the patent include fair value pricing of international fixed income securities, international index futures and international equity options, as well as real-time fair value pricing of global equity ETFs.
According to the company, the introduction of a real-time Fair Value Information Service for global equities has found a new audience with market makers and traders. This service can provide inputs to support their trading decisions relating to global equity exchange-traded funds (ETFs), American Depositary Receipts (ADRs), and other financial instruments that trade duringU.S.market hours while the underlying international markets have closed.
Interactive Data’s approach to its Fair Value Information Services includes estimating and incorporating the statistical relationships between certain market-based factors and a variety of pricing inputs to reflect where these financial instruments would likely trade if still active in a liquid market.
The business processes covered by this patent were invented by Rob Haddad, director, Evaluated Services for Interactive Data, Peter Ciampi, a market analyst at Interactive Data, and Eric Zitzewitz, associate professor of economics at DartmouthCollegeand a consultant to Interactive Data. Additional information on Interactive Data’s patents (Patent No: US 8,156,027; Patent No.: US 7,860,770 B1; and Patent No.: US 7,167,837 B1) is available on the website of the U.S. Patent and Trademark Office.
ARKELIS: The fully-owned subsidiary of financial messaging provider SWIFT reported that it has signed an agreement with financial services firm KBC to build to build a new financial messaging platform for their SWIFT messaging.
KBC is an integrated banking and insurance group catering mainly for retail, small and medium enterprise and midcap customers in its home market Belgium and certain countries in Central and Eastern Europe.
The need to install a SWIFT messaging hub for the KBC Group, making use of the newest technologies, enhancing and improving the current functionalities and reducing the maintenance costs, were drivers for KBC to initiate a new financial messaging project. Time to market, future market flexibility and the ability to meet customer demands being the primary requirements, Advanced Messaging Hub (AMH) was the perfect fit.