Omgeo Discounts for Same-Day Settlement
February 15, 2013
Omgeo new pricing model to promote same-day settlement. Nasdaq OMX NLX selects Mellanox. Clearstream offers direct settlement link in Russian market. Interactive Data announces enhanced version of FutureSource. Hong Kong Exchange to offer after hours futures trading.
Omgeo: The provider of global trade management services said it is cutting prices by up to 15%, due to ongoing investments in infrastructure and technology.
The pricing changes incent clients to verify trades on the same day they are executed, known as Same Day Affirmation (SDA), via Omgeo Central Trade Manager (Omgeo CTM) and OASYS-TradeMatch. Clients who leverage these services are able to reduce their Omgeo transaction costs by up to 15%.
Previous price adjustments include: Reductions to its U.S. securities post-trade processing service, Omgeo TradeSuite ID, with savings ranging between 20% and 35% including an incentive to affirm trades more quickly; Reductions to its web-based settlement and account instruction (SSI) database, Omgeo ALERT, where 100% data compliance levels are discounted by 5%.
Nasdaq OMX NLX: The new London derivatives market has selected Mellanox’s InfiniBand Solutions for core trading interconnections. Additionally, NLX will use Mellanox’s messaging accelerator to cut 60 to 70 percent of the server-to-server latency and eliminate jotter.
NLX will offer both short-term and long-term interest rate products as well as euro and sterling- based listed derivative products. Infiniband will act as the server interconnect to for NLX matching engines.
Clearstream: The European supplier of post-trade services will launch a direct settlement link to the Russian market following the opening of a main account at the National Settlement Depository (NSD), the new Russian depository, this month.
The new direct link to the Russian CSD will complement Clearstream's existing settlement services by further opening up access to the Russian capital markets via an efficient channel and offering a single access point, the Russian CSD.
Interactive Data: The provider of market data services is extending its FutureSource service to traders, brokers and analysts globally. FutureSource Version 3.5 introduces a broad array of new non-exchange content along with improvement to the user experience and enhancement to options analytics, in a comprehensive solution.
Also added are improved options analytics and trending news.
Hong Kong Exchanges and Clearing: The exchange said it received regulatory approval to offer extended hours of trading, starting April 8.
Hang Seng Index and H-shares Index futures will be available for trading from 5 p.m. to 11 p.m. in addition to the regular trading sessions of 9:15 a.m. to 12 noon and 1 p.m. to 4:15 p.m. Gold futures will be considered for inclusion at a later stage.