NYSE to Introduce Self Trade Protection
February 5, 2013
NYSE and NYSE MKT are offering a service tohelp firms manage order flow. TriOptima is launching counterparty credit risk analytics for OTC derivatives. QuantHouse, will help KVH clients get close to the main Asian exchanges. Intilop announced delivery of a ultra-low-latency system platform.
NYSE: The New York Stock Exchange and NYSE MKT will introduce a new service, Self Trade Prevention (STP), which will enable firms to better manage their order flow and prevent unintended executions with themselves. In the first phase, the protection would be available for limit orders only. Market orders, stop orders, orders sent to floor brokers and other types that use the modifiers from the program will be rejected. There are no fees beyond the approved Exchange transaction fees.
Technical details are available in the NYSE UTP Direct API Specification version 1.13 posted Feb. 1.
TriOptima: The firm is launching triQuantify, a counterparty credit risk analytics service for OTC derivatives. TriOptima has licensed Global Valuation Ltd.'s software to power the new service.
The service will be integrated with triResolve, TriOptima's counterparty exposure management service where 90% of all collateralized OTC derivatives globally are reconciled on a daily basis. Expected to go live later this year, TriOptima is working with clients to pilot the new service.
TriOptima's service will provide a full range of counterparty credit risk metrics including: Credit Value Adjustment, Potential Future Exposure and Funding Value Adjustment.
It be used by institutions to validate and benchmark existing risk calculations or as an outsourced risk service. TriOptima plans to get its risk models and processes approved for regulatory capital calculation of counterparty credit risk.
QuantHouse: S&P Capital IQ's Real Time operation and the global provider of next generation trading solutions will help KVH clients get close to the main Asian exchanges.
The alliance will bring faster aggregation of market data from major Asian markets, reduced downtime due to high data center reliability and redundancy offered by KVH Tokyo Data Center 1 (KVH TDC1). Entry into the Japanese market opens up an alternative to Tokyo participants for the provision of quality low latency market data.
Intilop: The technology developer said it had delivered a network interface card system for trading operations that works at ultra low latency, with 10 gigabits a second throughput and-precise time-stamping.
The system can be configured to include as many as 128 “virtual” interface cards and work in multicasting networks.