Citadel Adopts Bloomberg Trading Platform
January 18, 2013
Citadel using multi-dealer trading platform from Bloomberg. TMX Atrium announces low latency service from Frankfurt to Moscow and adds infrastructure across Europe. Peruvian and London Exchanges in technology partnership. Phillip Futures and TT launch co-lo software offering. TMX Atrium, extends ultra-low latency connectivity infrastructure across Europe.
Citadel: The global financial institution is now using Bloomberg's Fixed Income Trading platform for electronic trading and clearing of interest rate swaps.
Citadel is using Bloomberg for electronic execution and access to clearing in preparation for upcoming regulatory deadlines from the 2010 Dodd-Frank Wall Street Reform Act. The first trades were placed by Citadel on Monday via Bloomberg's multi-dealer trading platform (BBTI ) and cleared through LCH.Clearnet.
"Our investment activity requires a world-class platform that delivers the very best in market liquidity and streamlined, front-to-back, straight-through processing," said Richard Mazzella, chief operating officer of Citadel’s Global Fixed Income business. "Bloomberg’s platform provides this powerful combination, strengthening the quality and efficiency of our vanilla interest rate swap activities to the benefit of our investors."
Bloomberg's automated solution provides direct access to LCH.Clearnet and other clearing houses, without the use of additional middleware.
Bloomberg intends to register with the Commodity Futures Trading Commission (CFTC) as a swap execution facility (SEF). Bloomberg Professional service subscribers have leveraged direct connectivity to CME Clearing, IntercontinentalExchange (ICE) and LCH.Clearnet since 2009.
TMX Atrium: The unit of TMX Group has unveiled a new low latency connectivity service from Frankfurt into the rapidly growing trading hub at Moscow M1. The service has been introduced after a southwards expansion from its existing Stockholm service to Frankfurt.
TMX Atrium launched its Moscow to Stockholm connectivity in August last year. The new Moscow to Frankfurt path was implemented in response to continued client demand for access to the Russian capital. The new path provides a direct connection and can act as a low latency back-up path for connectivity from Moscow to London via Frankfurt.
Emmanuel Carjat, managing director, TMX Atrium, said: “Central and Eastern Europe are becoming increasingly important centers for clients seeking liquidity and trading opportunities across multiple asset classes. On-going investment in our venue-neutral platform ensures that TMX Atrium will continue to provide low latency trading paths into and out of key financial centers and from Moscow to other key trading locations.”
The provider of infrastructure solutions for the financial community also announced that it has enhanced its ultra-low latency connectivity infrastructure across Europe.
Ten-gigabits-per-second (Gbps) capacity has been added in response to anticipated customer demand for flexible and scalable connectivity to multiple markets across London and Europe and into Russia.
Bolsa de Valores de Lima: The Peruvian Exchange operator, has entered into a technology partnership with MillenniumIT, a-wholly owned subsidiary of the of the London Stock Exchange Group. Millennium will provide trading and smart order routing technology to Peru’s markets via its low latency, high-performance trading platform, Millennium Exchange. “This is a very significant achievement for us,” said Tony Weeresinghe, CEO of MillenniumIT. “Peru is one of Latin America’s fastest growing economies, and there is a need for efficient, reliable capital markets infrastructure as business and investment continue to develop there.”
Phillip Futures: The Chicago-based full-service futures clearing entity of Singapore's Phillip Capital and Trading Technologies International, Inc. (TT), a global provider of professional derivatives trading software and solutions, announced that the firms have expanded their global relationship to begin offering TT's high-speed derivatives execution solutions to Phillip Futures' customers in the U.S.
The new initiative between Phillip Futures and TT coincides with the launch of Phillip Futures' U.S.-based trading network, which offers co-located access to CME Group's data center in Aurora, Ill.. The network will provide the firms' mutual customers with high-speed access to markets traded through the CME Globex platform. These include CME Group's interest rate, equity index, FX, agricultural, real estate, weather, metals and energy products as well as contracts listed on CME Group partner exchanges including BM&FBOVESPA, Bursa Malaysia, Dubai Mercantile Exchange and Minneapolis Grain Exchange.
This arrangement will allow Phillip Futures to expand its position in the U.S. by enabling clients in that region to easily access TT's high-performance X_TRADER platform and technology solutions, including TT's server-based algo design and execution system, ADL. TT's platform will be integrated with Phillip Futures' back-office and proprietary third-party applications.