Showing posts with label Chi-X. Show all posts
Showing posts with label Chi-X. Show all posts
Thursday, 25 September 2008
Numis Securities Live on Chi-X and Turquoise
GL TRADE, a provider of multi-asset and multi-market solutions for financial institutions, today announced that NUMIS Securities is now live on the Chi-X and Turquoise markets using the GL RIMS middle and back office solution for all the post trade processing. NUMIS Securities is a leading independent investment banking and broking group focusing on high quality London-quoted mid and small cap companies.NUMIS has now been using GL RIMS for over two years, to manage their clearing
Monday, 25 August 2008
Chi-X
Chi-X is a "multilateral trading facility" (MTF). Licencing by the UK's Financial Services Authority means it has been passported through to provide services to firms throughout the European Economic Area due to the MiFiD.
The owners, (majority owned by Instinet Europe) claim their platform is of a faster, cheaper and higher capacity alternative to trading on-exchange. Chi-X was the first order driven pan-European matching engine and central limit order book or Multilateral Trading Facility (MTF) to start trading.
Details of claims are:
TRADING ON Chi-X IS CHEAPER - Equity trading is up to ten times cheaper (estimated cost advantages based on an Chi-X internal review) than trading on Europe's traditional stock exchanges. Built on a low cost business model, Chi-X offers lower explicit transaction costs [Click here to find out more]
TRADING ON Chi-X IS FASTER - Traders can execute trades on Chi-X up to ten times faster than major European exchange order driven systems measured by Transact Tools
MiFID COMPLIANCE - Market participants have the opportunity to route orders and trade report to help satisfy MiFID best execution and transparency requirements
STANDARDISED CONNECTIVITY - Chi-X connectivity is provided using the FIX (Financial Information eXchange) protocol 4.2
TRADING ON Chi-X REDUCES YOUR MARKET IMPACT - Traders can slice and represent their orders across a number of liquidity pools to reduce their market impact
REDUCTION OF IMPLICIT TRANSACTION COSTS - Chi-X could help reduce implicit transaction costs
WIDER TRADING OPPORTUNITIES - We offer trading opportunities when the main markets are closed
ARBITRAGE OPPORTUNITIES - Trading on multiple venues in the same instruments offers arbitrage opportunities
TIMING AND OPPORTUNITY COSTS ARE REDUCED - Real time clearing and greater certainty of execution significantly reduces trading costs
LIQUIDITY FLOW - In addition to the flow of market participants who can smart route to Chi-X as part of their MiFID compliant best execution policy
Chi-X
The Chi-X core is comprised of three primary applications: the Matching Engine, FIX, market data connectivity and a number of secondary applications. The Matching Engine is a proprietary system that resides on the Linux operating system.
The owners, (majority owned by Instinet Europe) claim their platform is of a faster, cheaper and higher capacity alternative to trading on-exchange. Chi-X was the first order driven pan-European matching engine and central limit order book or Multilateral Trading Facility (MTF) to start trading.
Details of claims are:
TRADING ON Chi-X IS CHEAPER - Equity trading is up to ten times cheaper (estimated cost advantages based on an Chi-X internal review) than trading on Europe's traditional stock exchanges. Built on a low cost business model, Chi-X offers lower explicit transaction costs [Click here to find out more]
TRADING ON Chi-X IS FASTER - Traders can execute trades on Chi-X up to ten times faster than major European exchange order driven systems measured by Transact Tools
MiFID COMPLIANCE - Market participants have the opportunity to route orders and trade report to help satisfy MiFID best execution and transparency requirements
STANDARDISED CONNECTIVITY - Chi-X connectivity is provided using the FIX (Financial Information eXchange) protocol 4.2
TRADING ON Chi-X REDUCES YOUR MARKET IMPACT - Traders can slice and represent their orders across a number of liquidity pools to reduce their market impact
REDUCTION OF IMPLICIT TRANSACTION COSTS - Chi-X could help reduce implicit transaction costs
WIDER TRADING OPPORTUNITIES - We offer trading opportunities when the main markets are closed
ARBITRAGE OPPORTUNITIES - Trading on multiple venues in the same instruments offers arbitrage opportunities
TIMING AND OPPORTUNITY COSTS ARE REDUCED - Real time clearing and greater certainty of execution significantly reduces trading costs
LIQUIDITY FLOW - In addition to the flow of market participants who can smart route to Chi-X as part of their MiFID compliant best execution policy
Chi-X
The Chi-X core is comprised of three primary applications: the Matching Engine, FIX, market data connectivity and a number of secondary applications. The Matching Engine is a proprietary system that resides on the Linux operating system.
Alternative trading systems
Chi-X
Multilateral trading facility developed following MiFiD. Majority owned by Instinet Europe
Direct Edge
US-based multilateral trading faciltiy or trading platform.
Equiduct
Multilateral trading facility majority owned by Borse Berlin and Burgundy. Nordic equities markets are the main target.
European Multilateral Clearing Facility
Clearing unit set up by Fortis for European alternative trading systems.
MTF
Multilateral Trading Facility
Nasdaq OMX Europe
Pan Euopean Multilateral Trading Facility (MTF) backed by Nasdaq OMX
PEX
Small multilateral trading platform for the Portugese market
Multilateral trading facility developed following MiFiD. Majority owned by Instinet Europe
Direct Edge
US-based multilateral trading faciltiy or trading platform.
Equiduct
Multilateral trading facility majority owned by Borse Berlin and Burgundy. Nordic equities markets are the main target.
European Multilateral Clearing Facility
Clearing unit set up by Fortis for European alternative trading systems.
MTF
Multilateral Trading Facility
Nasdaq OMX Europe
Pan Euopean Multilateral Trading Facility (MTF) backed by Nasdaq OMX
PEX
Small multilateral trading platform for the Portugese market
Friday, 22 August 2008
Derivatives - C
Call
An option contract giving the holder the right to buy the underlying security at a specified price for a certain, fixed period of time.
Capped-Style Option
Option with an established profit cap. The cap price is equal to the option's strike price plus a cap interval for a call option or the strike price minus a cap interval for a put option. Exercised automatically when the underlying security closes above or below the cap price, depending on whether it is a call or a put.
CEO
Chief Executive Officer
CFO
Chief Financial Officer
Chi-X
Multilateral trading facility developed following MiFid. Majority owned by Instinet Europe
CII
Council of Institutional Investors
CIO
Chief Investment Officer
Close
End of trading session period. Also called the Closing Range. The official close is designated as the high and low prices or bids and offers recorded during the period.
Closing Purchase
Transaction entered into to reduce or eliminate a short position in a given series of options.
Commission
One off fee brokerage fee to a customer when a futures or options on futures position is liquidated either by offset or delivery.
Contract
1) Unit of trading for a financial or commodity future.
2) Bilateral agreement between buyer and seller (parties) of a futures or options on futures transaction. Defined by the exchange.
Contract Month
The month in which futures contracts may be satisfied by making or accepting delivery.
Covered Call Option Writing
Trading strategy involving simultaneously selling call options and owning an equivalent position in the underlying security. The reverse is to sells a put option and shorting the underlying security.
An option contract giving the holder the right to buy the underlying security at a specified price for a certain, fixed period of time.
Capped-Style Option
Option with an established profit cap. The cap price is equal to the option's strike price plus a cap interval for a call option or the strike price minus a cap interval for a put option. Exercised automatically when the underlying security closes above or below the cap price, depending on whether it is a call or a put.
CEO
Chief Executive Officer
CFO
Chief Financial Officer
Chi-X
Multilateral trading facility developed following MiFid. Majority owned by Instinet Europe
CII
Council of Institutional Investors
CIO
Chief Investment Officer
Close
End of trading session period. Also called the Closing Range. The official close is designated as the high and low prices or bids and offers recorded during the period.
Closing Purchase
Transaction entered into to reduce or eliminate a short position in a given series of options.
Commission
One off fee brokerage fee to a customer when a futures or options on futures position is liquidated either by offset or delivery.
Contract
1) Unit of trading for a financial or commodity future.
2) Bilateral agreement between buyer and seller (parties) of a futures or options on futures transaction. Defined by the exchange.
Contract Month
The month in which futures contracts may be satisfied by making or accepting delivery.
Covered Call Option Writing
Trading strategy involving simultaneously selling call options and owning an equivalent position in the underlying security. The reverse is to sells a put option and shorting the underlying security.
Thursday, 21 August 2008
Tbricks Connects to Chi-X Europe
Tbricks, the provider of next generation automated trading systems, today announced that it has added Chi-X Europe to its list of certified trading venues.
The Tbricks solution has been devised for automated proprietary trading and targets prop trading firms, trading users at investment banks and high-tech hedge funds. They can now leverage Tbricks connectivity to ensure minimal latency to the Chi-X Europe trading venue.
Jonas Hansbo, CEO of Tbricks, says: “We see a huge market interest in Chi-X Europe—particularly from the growing number of proprietary traders who depend on the lowest latency performance. That's why we've ensured that our customers can connect to Chi-X Europe and provide integration to the Tbricks Genesis strategy engines with a latency of less than a millisecond.”
“Through our streamlined business model, institutional investors are able to trade a wide range of European equities and achieve low-cost, high-speed trade execution, as well as potential price improvement. We are pleased to provide access to our market through Tbricks’ advanced automated trading solution, and welcome Tbricks to our growing list of certified vendors.” comments Hirander Misra, chief operating officer, Chi-X Europe.
The Tbricks solution has been devised for automated proprietary trading and targets prop trading firms, trading users at investment banks and high-tech hedge funds. They can now leverage Tbricks connectivity to ensure minimal latency to the Chi-X Europe trading venue.
Jonas Hansbo, CEO of Tbricks, says: “We see a huge market interest in Chi-X Europe—particularly from the growing number of proprietary traders who depend on the lowest latency performance. That's why we've ensured that our customers can connect to Chi-X Europe and provide integration to the Tbricks Genesis strategy engines with a latency of less than a millisecond.”
“Through our streamlined business model, institutional investors are able to trade a wide range of European equities and achieve low-cost, high-speed trade execution, as well as potential price improvement. We are pleased to provide access to our market through Tbricks’ advanced automated trading solution, and welcome Tbricks to our growing list of certified vendors.” comments Hirander Misra, chief operating officer, Chi-X Europe.
Subscribe to:
Posts (Atom)