TRADING PACES: Anova Connects to Chicago Options Markets & More
February 22, 2012
The optical engineering firm said it is extending its high-speed trading routes to reach options markets in Chicago. Direct FX will use First Derivatives’ Delta trading technology to aggregate prices and execute transactions for retail and institutional customers. ICE Futures Europe will auction emission allowances in the UnitedKingdom. Asset Control is making AC Plus ready to track requirements of the Dodd-Frank Wall Street Reform Act. The Canadian Derivatives Clearing Corporation (CDCC) has launched its fixed income central counter party services.
ANOVA TECHNOLOGIES: The custom optical engineering firm said it is extending its high-speed trading routes to reach options markets in Chicago. The network builder said it will provide ultra-low latency connections between the data centers of the Chicago Mercantile Exchange at 350 East Cermak Road and the Chicago Board Options Exchange at 400 South Lasalle Street. The data center at East Cermak also connects to the NYSE Euronext global trading network, known as its Secure Financial Transactions Infrastructure.
This will act as “a key gateway to NY/NJ options exchanges” as well as the CBOE, in an “ultra-low latency loop,” Anova said.
“We’re linking up the network between these two points of presence in the options market in a way that drives latency into picoseconds,” stated Michael Persico, CEO and founder of Anova Technologies.
Until this, Anova’s routes have connected equities and foreign exchange markets. This is its inaugural route incorporating options markets.
DIRECT FX: The online foreign exchange trading company registered in Australia said it will use trading technology from First Derivatives, a provider of software and consulting services to investment banks, brokers and hedge funds.
Direct FX will use First Derivatives’ Delta trading technology to aggregate prices and execute transactions for retail and institutional customers.
Direct FX will combine FD’s Delta Flow software for order matching and execution with customers’ trading platforms and will also extend its use to other applications. The effort will also take in Delta’s risk management features.
ICE FUTURES EUROPE: The unit of IntercontinentalExchange has been authorized by the Financial Services Authority of the United Kingdom to operate as a Recognized Auction Platform (RAP). This will allow ICE Futures Europe to auction emission allowances as part of Phase III of the EU Emissions Trading System (ETS), which commences in 2013. As a Recognised Investment Exchange and now a Recognised Auction Platform, ICE Futures Europe last week submitted a tender to auction emission allowances to the U.K. Government's Department of Energy & Climate Change and plans to put forward further tenders as part of the Commission Auction Regulation and the next stage of the EU ETS.
