RTS Realtime Systems Group (RTS), a leading trading solutions provider, and Shinyoung Securities Company Ltd., a leading brokerage firm in Korea, announced today that they have signed an agreement to provide direct market access (DMA) to the Korea Exchange, the third largest derivatives exchange globally by volume. Under the agreement, RTS is able to offer its clients access to the KOSPI index options, the leading exchange-traded derivative contract by volume, as well as KOSPI 200 index futures and the underlying cash markets.
Henk Huitema, RTS Managing Director, Asia Pacific, said: "We have been steadily increasing our connectivity and presence in Asia as our clients' interest in the region continues to grow. We are especially pleased to join with Shinyoung in offering our clients high-speed, low latency access to the rapidly growing Korea Exchange and its enormously popular futures and options contracts. We look forward to offering more connectivity and our RTD Tango algorithmic trading solution throughout the Asia Pacific region."
Said Ike Lee, Head of Sales, Shinyoung Securities: "We believe that RTS is one of the most efficient and fastest channels for non-Kospi traders to get into the Korean market. We strive to provide our customers with the best solutions to help them maintain their competitive edge."
RTS clients using the RTD Realtime Trading Desktop can price, trade and quote on over 100 exchanges worldwide. RTD Tango is an event-based automated algorithmic trading system, enabling users to code, deploy and test thousands of trading strategies simultaneously. Since its inception in 2005, RTD Tango has been widely used by the brokerage and proprietary trading community across the globe.
Showing posts with label brokerage. Show all posts
Showing posts with label brokerage. Show all posts
Wednesday, 22 October 2008
Sunday, 14 September 2008
Trading Tools
Trade Suite / CNS Interface
Application used to streamline trade processing and reduce risk to executing broker and the prime broker. Supplied by National Securities Clearing Corporation
NSCC
National Securities Clearing Corporation
TRM-Prime Broker (TRM-PB)
Management of the entire post-trade, pre-booking process in prime brokerage. Supplied by Traiana.
Beauchamp
A platform to manage complex portfolios and satisfy investor and regulatory requirements. Supplied by Linedata
T Zero Prime Brokerage
Prime brokers use T Zero to automate the give up process. Vendor is T Zero
Geneva
Application for client portfolio accounting, general ledger accounting, performance measurement and portfolio reporting. Geneva's tool vendor is Advent
Swaps Pricing Platform
Accessing security quotes generated by broker-dealers that prime brokers use for calculating client's net asset values (NAV). Tool vendor is SQX.
Application used to streamline trade processing and reduce risk to executing broker and the prime broker. Supplied by National Securities Clearing Corporation
NSCC
National Securities Clearing Corporation
TRM-Prime Broker (TRM-PB)
Management of the entire post-trade, pre-booking process in prime brokerage. Supplied by Traiana.
Beauchamp
A platform to manage complex portfolios and satisfy investor and regulatory requirements. Supplied by Linedata
T Zero Prime Brokerage
Prime brokers use T Zero to automate the give up process. Vendor is T Zero
Geneva
Application for client portfolio accounting, general ledger accounting, performance measurement and portfolio reporting. Geneva's tool vendor is Advent
Swaps Pricing Platform
Accessing security quotes generated by broker-dealers that prime brokers use for calculating client's net asset values (NAV). Tool vendor is SQX.
Wednesday, 10 September 2008
Instinet Europe Best Execution Policy Review
Instinet Europe Limited, the European agency brokerage subsidiary of electronic trading and agency-only brokerage services leader Instinet Incorporated, today published the key findings of its Best Execution Policy Review, conducted in accordance with MiFID regulations. The review covers Instinet Europe’s trading performance from 1 May 2008 through to 31 July 2008 (months 7-9 of MiFID) and follows the firm’s published findings of its execution quality from MiFID’s first six months in June.
The key findings are as follows:
• Instinet Europe’s SmartRouter™ has been enhanced to interact with new trading venues as they have been introduced. The average price improvement(1) when trading on new venues was 5.32 bps for the three month measurement period, and consistently improved month over month, rising to 6.43 bps in July 2008 compared with an initial 1.73 bps in November 2007, when MiFID was introduced.
• Of the shares traded away from the primary markets on alternative trading venues, Instinet Europe’s clients received price improvement 54.2 percent of the time (by value traded) and executed at the same price or better than found on the primary markets 96.0 percent of the time.
• By value traded, Instinet Europe executions away from the primary markets in UK, French, German and Dutch equities increased to 32.5 percent in July 2008 from 26.4 percent in May 2008. For UK equities alone, Instinet Europe in July 2008 executed 43.5 percent of its volume away from the London Stock Exchange, compared with 37.0 percent in May 2008.
• Instinet Europe has connected to and is successfully trading on both Turquoise and SWX Swiss Block, the two new multi-lateral trading facilities to have launched in August. Instinet Europe also became a direct member of the NYSE Euronext Lisbon Stock Exchange in August. During the review period, Instinet went live with the BlockMatch™ MTF, Instinet’s European block crossing platform, and announced a bilateral agreement with Credit Suisse to provide mutual access to each others’ dark pools. Additionally, Instinet Europe expects to continue to link to new liquidity pools as they become available, including BATS Europe, NASDAQ OMX Europe, NYSE Euronext’s SmartPool.
• Although not within the scope of MiFID, Instinet’s execution performance in US shares remains strong. In Investment Technology Group, Inc.’s (ITG®) recently published ITG Broker Edge™ report, which covered the four-quarter period ended 31 March, 2008, Instinet was ranked first for execution quality in overall US stock trading and #1 in nine out of the 14 ITG Broker Edge trading categories, as measured by value-added.
The key findings are as follows:
• Instinet Europe’s SmartRouter™ has been enhanced to interact with new trading venues as they have been introduced. The average price improvement(1) when trading on new venues was 5.32 bps for the three month measurement period, and consistently improved month over month, rising to 6.43 bps in July 2008 compared with an initial 1.73 bps in November 2007, when MiFID was introduced.
• Of the shares traded away from the primary markets on alternative trading venues, Instinet Europe’s clients received price improvement 54.2 percent of the time (by value traded) and executed at the same price or better than found on the primary markets 96.0 percent of the time.
• By value traded, Instinet Europe executions away from the primary markets in UK, French, German and Dutch equities increased to 32.5 percent in July 2008 from 26.4 percent in May 2008. For UK equities alone, Instinet Europe in July 2008 executed 43.5 percent of its volume away from the London Stock Exchange, compared with 37.0 percent in May 2008.
• Instinet Europe has connected to and is successfully trading on both Turquoise and SWX Swiss Block, the two new multi-lateral trading facilities to have launched in August. Instinet Europe also became a direct member of the NYSE Euronext Lisbon Stock Exchange in August. During the review period, Instinet went live with the BlockMatch™ MTF, Instinet’s European block crossing platform, and announced a bilateral agreement with Credit Suisse to provide mutual access to each others’ dark pools. Additionally, Instinet Europe expects to continue to link to new liquidity pools as they become available, including BATS Europe, NASDAQ OMX Europe, NYSE Euronext’s SmartPool.
• Although not within the scope of MiFID, Instinet’s execution performance in US shares remains strong. In Investment Technology Group, Inc.’s (ITG®) recently published ITG Broker Edge™ report, which covered the four-quarter period ended 31 March, 2008, Instinet was ranked first for execution quality in overall US stock trading and #1 in nine out of the 14 ITG Broker Edge trading categories, as measured by value-added.
GFI Terminates Tullet Prebon Discussions
GFI Group Inc. has terminated its discussions with Tullett Prebon plc regarding a possible business combination because the two companies failed to reach acceptable economic terms for a transaction.
GFI noted that it will continue to pursue its strategy of technology enabled brokerage and other services in OTC derivative and cash markets and to focus on delivering value to its shareholders.
GFI noted that it will continue to pursue its strategy of technology enabled brokerage and other services in OTC derivative and cash markets and to focus on delivering value to its shareholders.
Wednesday, 3 September 2008
GFI Group
GFI Group Inc. (http://www.gfigroup.com/) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.
Saturday, 23 August 2008
Openstream Launch Mobile Trading Tools
Openstream Inc. ( http://www.openstream.com/ ), a provider of multimodal information management solutions for the enterprises and Omnesys Technologies (India) Pvt. Ltd., a leading Brokerage and Trading Platform provider in India, today announced the joint launch of Openstream's new Cue-Me(TM) multimodal browser based brokerage & trading solutions for their customers.
The multimodal solution would greatly enhance the usability of their joint offering to brokerage houses. Key features of the service include: access to NSE, BSE and NCDEX markets; local financial news; real-time quotes; currencies, interest rates, and global indices; advanced order functionality, and real-time updates of Omnesys' portfolio.
Openstream's Cue-me(TM) enhances the Omnesys's offerings by maximizing the access to its NEST Brokerage Platform services. The integrated solution today provides Omnesys' customers speech and multimodal access to the service information they need from all the popular mobile devices, such as BlackBerry, Nokia-Symbian and Windows Mobile devices. The solution will soon be made available on iPhone devices.
"The strength of our joint offering is in that it enables us to offer rich and convenient interface to our applications that are independent of delivery devices, their footprints, networks and carriers. Our customers appreciate the power of using this multi-modal approach as it can provide speech capability to our trading applications on mobile devices with small screens and limited input methods, enabling the users to quickly access information related to their executed trades, stock quotes, portfolio and market news by talking and tapping on their devices," says Shrikant Pandit, CEO of Omnesys Technologies (India).
Speaking on the launch of the new mobile brokerage solution, Mr. Pradeep Gupta, Vice-chairman, AnandRathi Securities, one of the leading wealth-management companies in Asia, said, "We have always been looking for exceeding the expectations of our clientele and Openstream's multimodal solutions delivered on Omnesys's NEST Platform help us meet the growing needs of our customers."
The joint solution is being launched through all Omnesys' customers in India.
The multimodal solution would greatly enhance the usability of their joint offering to brokerage houses. Key features of the service include: access to NSE, BSE and NCDEX markets; local financial news; real-time quotes; currencies, interest rates, and global indices; advanced order functionality, and real-time updates of Omnesys' portfolio.
Openstream's Cue-me(TM) enhances the Omnesys's offerings by maximizing the access to its NEST Brokerage Platform services. The integrated solution today provides Omnesys' customers speech and multimodal access to the service information they need from all the popular mobile devices, such as BlackBerry, Nokia-Symbian and Windows Mobile devices. The solution will soon be made available on iPhone devices.
"The strength of our joint offering is in that it enables us to offer rich and convenient interface to our applications that are independent of delivery devices, their footprints, networks and carriers. Our customers appreciate the power of using this multi-modal approach as it can provide speech capability to our trading applications on mobile devices with small screens and limited input methods, enabling the users to quickly access information related to their executed trades, stock quotes, portfolio and market news by talking and tapping on their devices," says Shrikant Pandit, CEO of Omnesys Technologies (India).
Speaking on the launch of the new mobile brokerage solution, Mr. Pradeep Gupta, Vice-chairman, AnandRathi Securities, one of the leading wealth-management companies in Asia, said, "We have always been looking for exceeding the expectations of our clientele and Openstream's multimodal solutions delivered on Omnesys's NEST Platform help us meet the growing needs of our customers."
The joint solution is being launched through all Omnesys' customers in India.
Friday, 22 August 2008
Derivatives J - S
KKR
Kohlberg Kravis Roberts
LEAPS
Long-Term Equity Anticipation Securities
Limit Order
Order from a customer to a broker specifying a price; only if the if the market reaches or betters the price can the order be executed.
Liquidation
Transaction offsetting or closing out a long or short futures or options position.
Long Hedge
Purchase of a futures contract in anticipation of an actual purchase in the cash market.
Long Position
An investor holds more contracts than he has sold.
LTCM
Long Term Capital Management
Margin Requirement for Options
Amount an uncovered (naked) option writer is required to deposit and maintain to cover a position. Calculated
Market Order
Order for immediate execution given to a broker to buy or sell at the best obtainable price.
Mark-To-Market
Daily adjustment of margin accounts to reflect profit and loss.
Minimum Price Fluctuation
Smallest increment of price movement possible in trading a given contract. It is also referred to as "lead month".
MTF
Multilateral Trading Facility
Nasdaq OMX Europe
Pan Euopean Multilateral Trading Facility (MTF) backed by Nasdaq OMX
Nearby
Nearest active trading month of a futures or options on futures contract.
Offer
Price at which an investor is willing to sell a futures or options contract. Offset buying if one has sold, or selling if one has bought, a futures or options on futures contract.
PEX
Small multilateral trading platform for the Portugese market.
Prime Broker
Institution, usually an investment bank that offering a variety of services to hedge funds or other institutions.
Prime Brokerage
Bundle of services offered by an investment bank to large institutional clients or hedge funds. It is possible for a firm to have more than one prime broker. The firm is not obligated to put all of its business through the prime broker. The variety of services include, but is not limited to execution of trades, settlement, financing and custody.
Private Equity Intelligence
Research group specialising in the private equity arena.
Quantifi
provider of analytics and risk management solutions for the global credit markets.
REITS
Real-Estate Investment Trusts
Repo
The practice of loaning out shares in return for cash.
Risk Assessment
One of five components of internal control according to the COSO Internal Control Framework
Risks faced by the company have to be recognized. Objectives have to be set, integrated into the value-chain. To achieve the objectives, risks have to be identified, analyzed and develop methods to manage them.
SEC
Securities and Exchange Commission.
SOX
Shorthand for Sarbanes-Oxley.
Structured Notes
Derivatives-linked bonds designed to deliver high returns over a fixed period.
Synthetic Collateralised Debt Obligations
Repackaged portfolios of credit derivatives.
Kohlberg Kravis Roberts
LEAPS
Long-Term Equity Anticipation Securities
Limit Order
Order from a customer to a broker specifying a price; only if the if the market reaches or betters the price can the order be executed.
Liquidation
Transaction offsetting or closing out a long or short futures or options position.
Long Hedge
Purchase of a futures contract in anticipation of an actual purchase in the cash market.
Long Position
An investor holds more contracts than he has sold.
LTCM
Long Term Capital Management
Margin Requirement for Options
Amount an uncovered (naked) option writer is required to deposit and maintain to cover a position. Calculated
Market Order
Order for immediate execution given to a broker to buy or sell at the best obtainable price.
Mark-To-Market
Daily adjustment of margin accounts to reflect profit and loss.
Minimum Price Fluctuation
Smallest increment of price movement possible in trading a given contract. It is also referred to as "lead month".
MTF
Multilateral Trading Facility
Nasdaq OMX Europe
Pan Euopean Multilateral Trading Facility (MTF) backed by Nasdaq OMX
Nearby
Nearest active trading month of a futures or options on futures contract.
Offer
Price at which an investor is willing to sell a futures or options contract. Offset buying if one has sold, or selling if one has bought, a futures or options on futures contract.
PEX
Small multilateral trading platform for the Portugese market.
Prime Broker
Institution, usually an investment bank that offering a variety of services to hedge funds or other institutions.
Prime Brokerage
Bundle of services offered by an investment bank to large institutional clients or hedge funds. It is possible for a firm to have more than one prime broker. The firm is not obligated to put all of its business through the prime broker. The variety of services include, but is not limited to execution of trades, settlement, financing and custody.
Private Equity Intelligence
Research group specialising in the private equity arena.
Quantifi
provider of analytics and risk management solutions for the global credit markets.
REITS
Real-Estate Investment Trusts
Repo
The practice of loaning out shares in return for cash.
Risk Assessment
One of five components of internal control according to the COSO Internal Control Framework
Risks faced by the company have to be recognized. Objectives have to be set, integrated into the value-chain. To achieve the objectives, risks have to be identified, analyzed and develop methods to manage them.
SEC
Securities and Exchange Commission.
SOX
Shorthand for Sarbanes-Oxley.
Structured Notes
Derivatives-linked bonds designed to deliver high returns over a fixed period.
Synthetic Collateralised Debt Obligations
Repackaged portfolios of credit derivatives.
Friday, 4 April 2008
BNY ConvergEx Group Asian Appointment
BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced the appointment of Luis Camacho as Head of ConvergEx Global Markets Asia. He will be based in Hong Kong and report to Anthony Blumberg in New York. ConvergEx Global Markets specializes in global agency trading in over 94 markets worldwide, including global portfolio trading, single stock and block-trading, portfolio rebalancing, foreign exchange and liquidations.
Mr. Camacho, previously a Senior Vice President for ConvergEx Global Markets in New York, will now manage all aspects of that business in the Asia Pacific region, which includes overseeing all sales and trading, client development, and trading technology infrastructure. Prior to joining BNY ConvergEx Group, Mr. Camacho held a number of senior trading positions at JP Morgan, Credit Agricole, and Societe Generale.
Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group, commented, "Ensuring the continued strength of our global trading capabilities is essential to meeting the investment needs of our clients. We are extremely pleased to have a person of Luis's caliber take on a leadership role in a business and region that is central to the ConvergEx franchise."
"Luis brings an abundance of international trading expertise and a wealth of relationships in the local and global institutional investment community to his new role as head of ConvergEx Global Markets Asia," commented Anthony Blumberg, Chief Executive Officer of ConvergEx Global Markets. "I am confident that our clients in Asia and throughout the world will benefit significantly from this appointment."
In addition to appointing a new head of ConvergEx Global Markets Asia, ConvergEx also recently enhanced its client servicing capabilities in Japan through the hire of Yasuo Kitagawa as Head of Japan Product Sales for BNY Global Transition Management. Mr. Kitagawa is responsible for business development in Japan for the pension fund, insurance and asset management sectors, working with clients to develop and implement cost efficient transition management strategies.
Mr. Camacho, previously a Senior Vice President for ConvergEx Global Markets in New York, will now manage all aspects of that business in the Asia Pacific region, which includes overseeing all sales and trading, client development, and trading technology infrastructure. Prior to joining BNY ConvergEx Group, Mr. Camacho held a number of senior trading positions at JP Morgan, Credit Agricole, and Societe Generale.
Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group, commented, "Ensuring the continued strength of our global trading capabilities is essential to meeting the investment needs of our clients. We are extremely pleased to have a person of Luis's caliber take on a leadership role in a business and region that is central to the ConvergEx franchise."
"Luis brings an abundance of international trading expertise and a wealth of relationships in the local and global institutional investment community to his new role as head of ConvergEx Global Markets Asia," commented Anthony Blumberg, Chief Executive Officer of ConvergEx Global Markets. "I am confident that our clients in Asia and throughout the world will benefit significantly from this appointment."
In addition to appointing a new head of ConvergEx Global Markets Asia, ConvergEx also recently enhanced its client servicing capabilities in Japan through the hire of Yasuo Kitagawa as Head of Japan Product Sales for BNY Global Transition Management. Mr. Kitagawa is responsible for business development in Japan for the pension fund, insurance and asset management sectors, working with clients to develop and implement cost efficient transition management strategies.
Friday, 28 March 2008
ICAP Opens Indian Platform
ICAP (IAP.L), an international interdealer broker, announced today the launch of an electronic bond platform to service wholesale market participants in the Indian corporate debt sector. The platform was officially opened by Indian Finance Minister P Chidambaram at a ceremony in Mumbai.
ICAP gained approval for an electronic broking system from the Securities Exchange Board of India in November 2007 and has since moved quickly to deliver a solution to the market.
Manish Sabharwal, CEO of ICAP India, said: “We are delighted to be in a position to extend ICAP’s proven global technologies to India’s corporate debt market participants and believe this will prove a major catalyst towards the SEBI’s goal of increasing liquidity and efficiencies in the burgeoning marketplace.”
Finance Minister P Chidambaram’s recent Union Budget highlighted measures important to the development of a robust domestic corporate bond market. These measures will enhance investment, benefit Indian companies, and improve the availability of finances for infrastructure development.
Commenting on the launch, Don McClumpha, Deputy CEO of ICAP Asia-Pacific, said: “The Indian markets are a key focus for our expansion across the region. ICAP will continue to invest and deliver the world’s leading technologies to OTC market participants to increase liquidity and further facilitate innovation.”
The market is expecting further reforms aimed at streamlining issuance procedures and boosting liquidity such as the borrowing/lending of securities. ICAP has successfully combined voice and electronic services in securities markets to enhance price discovery and trade opportunity for market participants and has built a strong position in repo markets globally.
ICAP gained approval for an electronic broking system from the Securities Exchange Board of India in November 2007 and has since moved quickly to deliver a solution to the market.
Manish Sabharwal, CEO of ICAP India, said: “We are delighted to be in a position to extend ICAP’s proven global technologies to India’s corporate debt market participants and believe this will prove a major catalyst towards the SEBI’s goal of increasing liquidity and efficiencies in the burgeoning marketplace.”
Finance Minister P Chidambaram’s recent Union Budget highlighted measures important to the development of a robust domestic corporate bond market. These measures will enhance investment, benefit Indian companies, and improve the availability of finances for infrastructure development.
Commenting on the launch, Don McClumpha, Deputy CEO of ICAP Asia-Pacific, said: “The Indian markets are a key focus for our expansion across the region. ICAP will continue to invest and deliver the world’s leading technologies to OTC market participants to increase liquidity and further facilitate innovation.”
The market is expecting further reforms aimed at streamlining issuance procedures and boosting liquidity such as the borrowing/lending of securities. ICAP has successfully combined voice and electronic services in securities markets to enhance price discovery and trade opportunity for market participants and has built a strong position in repo markets globally.
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