TRADING PACES: Equiduct Gets Green Light in Berlin
March 26, 2012
The European Securities and Markets Authority gives Börse Berlin´s Equiduct its blessing. Equinix hires ServiceSources to bolster revenue service management. Agora deploys FlexOMS for sell-side order management. Thomson Reuters’ Elekron platform to power Dow Jones indexes.
BÖRSE BERLIN: The European Securities and Markets Authority, the pan-European financial exchange watchdog, has given the regulatory green light to Börse Berlin´s Equiduct electronic trading platform. In particular, after reviewing Equiduct’s market data feed, ESMA determined that platform observed all pre-trade transparency obligations as prescribed by the recently updated European Union regulation Markets in Financial Instruments Directive. Amended last year, this EU law, among other things, lays out the steps for harmonizing financial regulation across the 30-member states of the European Economic Area.
In order to review compliance with these EU requirements, ESMA had started a Europe-wide survey covering all trading venues in 2011. During the course of this survey, Börse Berlin presented its Equiduct market model to the regulator in November 2011. In particular the Börse touted its “Market Viewer” data feed system which provides information on volume weight best price of securities for such categories as retail size, guaranteed maximum size and individual size.
ESMA´s green light now makes Equiduct an approved pan-European trading venue under German law that will now be recognized by the national financial watchdogs in all EU member states.
EQUINIX: The global market data provider has hired ServiceSource to provide revenues service management for Equinix’s clients across North America.
ServiceSource's services include cloud technology, customer analytics as well as sales and data analytical support.
Equinix intend to use these services to bolster strategic growth by developing deeper profiles of their customer base.
"Having experienced tremendous growth over the past few years, we constantly look for ways to increase revenue, improve sales effectiveness and deliver the highest levels of service to customers," said Dan Walker, senior vice president of Americas sales for Equinix. "In working with ServiceSource, we can better understand the strategic direction of our customers and help them connect to one another within our global ecosystem."
AGORA: Brazilian brokerage firm Agora has implemented FlexOMS, a customizable sell-side order management system marketed by FlexTrade Systems, Inc., which develops broker-neutral multi-asset algos and trading system. Agora will use the system for algorithmic trading and direct market access to BM&F Bovespa, the largest stock exchange in Latin America.
In addition to being multi-asset, FlexOMS is also multi-currency and is designed to connect across multiple desks, trading styles and regions. Its features include a fully customizable platform, as flexibility for serving as either a hosted or enterprise system. It can handle a variety of trading categories, including cash, program, pairs, exchange-traded funds and algorithmic trading. The system also has integrated compliance and risk management.