Risk Gateway into Canada, Rivalry in India
February 13, 2013
ACTIV is extending its risk controls to cover trades going onto Canadian exchanges. Trading begins on new stock exchange in India .Perseus Telecom: signs CI Casa de Bolsa to its ultra-low latency network between the New York and Mexico City markets. BNY Mellon announces foreign exchange traders can now send orders to the FastMatch communication network. ICE and Cetip S.A expect to launch a fixed income trading platform on Feb. 25. Perseus Telecom will connect from Mexico City to New York. The London Stock Exchange has acquired a 67% stake in Italian low latency software house Gatelab.
ACTIV Financial: The global provider of market data and trading services extending the North American coverage of its ACTIV TradeDeck, to all Canadian exchanges for equities, options and futures. ACTIV TradeDeck provides an ultra low latency pre-trade risk gateway, through which to send trade instructions. The service is designed to help market participants address the Canadian regulations that will require pre-trade risk checks across all asset classes starting in March.
TradeDeck offers full broker control over pre-trade risk, with real time intraday adjustment, order monitoring and a kill switch for all trading activity. The service includes extensive credit controls that allow intraday margin calculations.
MCX-SX: India's new stock exchange started trading shares on Monday with thin volumes. MCX-SX is trying to win market share from dominant player National Stock Exchange (NSE) and the smaller and older BSE Ltd.
As of late Monday morning, the value of shares traded on the MCX-SX was 1.5 million rupees ($28,000), its web site showed, compared to 34.3 billion rupees on the NSE.
Brokers are cheering on MCX-SX, which quickly built one of the country's top commodity bourses, in the hope it will push down trading costs and drive development of trading stocks.
Perseus Telecom: The communications firm has signed CI Casa de Bolsa to its ultra-low latency network between the New York and Mexico City markets. The launch of this partnership represents a landmark development as the fastest trading route between the two marketplaces and creates new opportunities for trading firms across the globe.
CI Casa de Bolsa, a leading Mexico City-based brokerage house, has a global client base seeking liquidity in the Mexican marketplace..
BNY Mellon: The investment management and investment services firm announced that foreign exchange traders in its Global Markets group are now capable of sending FX orders to the FastMatch electronic communication network (ECN).
Based on the matching technology underpinning Credit Suisse's Crossfinder dark pool, FastMatch is designed to give traders access to large pools of diversified liquidity at high speed. As part of its adoption of ECN-based trading capabilities, BNY Mellon has acquired an ownership interest in FastMatch, joining Credit Suisse Group AG and FXCM Inc. as partners in the venture.
IntercontinentalExchange: ICE, a operator of global markets and clearing houses, and Cetip S.A., Latin America's largest private fixed income depository, announced that the jointly developed fixed income trading platform Cetip | Trader is expected to launch on February 25, 2013. This follows a successful beta test that started in August and final regulatory approval from the Brazilian securities regulator Comissao de Valores Mobiliarios (CVM) today.
Cetip | Trader offers market participants access to voice confirmation, electronic trading and historical data in a single platform. The product has been tested in a simulated trading environment with approximately 80 institutions entering more than 100,000 mock trades. It has been developed for corporate and government bonds, initially.
LSE: The London Stock Exchange has acquired a 67% stake in Italian low latency software house Gatelab. Gatelab's technology supports manual, automatic and algorithmic trading, smart order routing for equities, bonds and high-frequency trading.
GateLab's Traderpath engine is used by the London Stock Exchange Group for the Italian and United Kingdom derivatives markets and the Italian equity and bond market.
The company, which opened its only overseas office in London in 2008, has been searching for a partner to help it expand internationally.
Founded in 1989, privately-owned Gatelab had annual revenues of approximately 4.5 million euros in 2012.
Frontline Data Services: Lightower Fiber Networks will allow Frontline to connect its data center in Orangeburg, N.Y., to the NYSE Euronext market center in Mahwah, N.J.
The ultra-low latency link will allow Frontline to offer co-location and disaster recovery services.
Lightower will offer lit and dark fiber connections, at speeds up to 100 gigabits a second.