Day: 12 December 2016

Good Month for CLS

CLS was another market mechanism to receive a boost from the US election, with data from the settlement services provider showing the number of instructions submitted and the value settled both rising strongly.
CLS says the average daily input volume submitted, combining its settlement and aggregation services, was 1,167,833 up 15.0% from 1,015,928 in October 2016
The average daily input value submitted to CLS was $4.99 trillion up 1.4% from $4.92 trillion in October 2016.
The volume of instructions rose 21% year-on-year and the value settled was 13.2% higher than November 2015.

Tradebook Launches Cross-Asset Benchmark Tool

Bloomberg Tradebook has released a new cross-asset tool designed to enable firms to trade one security relative to a set benchmark.

In a release issued today, Bloomberg Tradebook claims that this Relative Benchmark Trading (RBT) algorithm will help traders using its PAIR (Pair) platform generate alpha, reduce the costs of trading and better manage risk.

It does this, the firm says, by enabling firms to leverage Bloomberg’s data to help them capture gains from the dynamic relative pricing of securities by tracking the performance of other instruments that drive the price of that stock.

Earthport Expands BAML’s Cross Border Payment Service

Earthport, which provides a payment network for cross-border payments, says that it is expanding service with Bank of America Merrill Lynch (BAML).

The firm says that the service will add numerous new countries and currencies to the bank’s online and file based banking portal, CashPro, further expanding the bank’s international Automated Clearing House (ACH) payment capabilities.

As a result of this deal, BAML clients will be able to access cross currency payments in more than 60 countries and nearly 25 currencies, expanding upon the relationship between Earthport and BAML that was first announced in 2013.

Integral Adopts Linedata’s OMS

Integral Development Corp has integrated Linedata’s Order Management System (OMS) powered by Longview, with Integral’s InvestorFX.

“We are pleased to partner with Linedata, which delivers flexible and comprehensive asset management solutions to global institutional and alternative communities,” says Harpal Sandhu, CEO, Integral. “InvestorFX is the smartest trading platform available for investment managers today, and we are proud to offer another high-quality option to access it. All users of Linedata OMS are now able to benefit from a seamless integration with InvestorFX.”

And Finally…

Statistics are a very important part of financial markets – sometimes they serve a very important purpose, sometimes they don’t. As we continue with the Irrationals, it seemed sensible to run through a few data sets that help, or rather don’t help, because after all, this column seldom likes the sensible, helpful route.
So this is truly an Irrational rather than an Accolade and into the bargain it offers me the opportunity to take a dig at one of my favourite targets!