BestX has expanded its suite of best execution analytics with the launch of a new Trend Analysis module.
The firm says the new functionality allows clients to generate bespoke analysis of trends in costs and other performance metrics over time, adding that improving the management information provided by the BestX analytics is a critical component of satisfying best execution obligations by allowing clients to identify how execution performance is changing over time, thereby allowing changes to be made to the process to continually refine and improve performance.
Network device provider Metamako, has teamed up with connectivity provider Redline Trading Solutions to offer an ultra-low latency end-to-end solution for automated traders.
Redline’s InRush market data solution, which provides consolidated market data feeds, now uses Metamako’s network devices to receive data from over 150 global exchanges, offering data fan-out in only 5 nanoseconds.
As a result, the firms say, clients can now obtain normalised market data with the lowest possible network latency for a wide range of asset classes including equities, derivatives, FX, fixed income and commodities.
Trade Informatics (TI), a provider of quantitative analytics and systematic trading solutions to institutional asset managers has announced it will provide BMO Capital Markets (BMO) with transaction cost analysis (TCA) tools to help the bank execute algorithmic trades with what the firms say will be "improved execution quality".
This partnership will allow BMO to measure and evaluate trade decisions with personalised systematic trading technology that is customised to match its clients’ investment processes and is based on third party analytics, the firms say.
MarketFactory has added Moscow Exchange Moex) to its API connectivity solution. This addition now provides FX market participants using Whisperer access to 77 FX venues, the firm says.
By adding Moex as a venue, market participants can easily trade the Russian ruble without having to allocate scarce credit lines to hedge the RUB. Moex sees daily volume highs of up to $30 billion with international market participants accounting for approximately 40% of volumes in Russia. Additionally, trading with Moex provides market participants a cleared settlement model.
Duco, a data engineering technology company, has completed a $28m investment round by Insight Venture Partners, Nex Opportunities and Eight Roads Ventures. The round also includes an investment by entrepreneur and former CEO of SunGard, Cristóbal Conde.
Duco provides technology that enables banks, brokers, asset managers and exchanges to normalise, validate and reconcile any type of data in Duco’s cloud, providing firms with on-demand data integrity and insight.
Duco says that it will use the investment to expand its global footprint, with headcount growth in Europe and the US, the launch of an Asia office and an expansion of its product set.
Transaction Network Services (TNS) is expanding its managed hosting, co-location and connectivity service to New York and Chicago.
TNS’s new solution, already launched in Europe and Asia, is aimed at low latency trading firms looking to access key equity, derivatives and FX markets.
The service is designed to allow these firms to enjoy the benefits of proximity co-location, such as ultra low latency exchange access and client cross connects, without the high cost and complexity of researching, procuring, installing and managing trading infrastructure themselves.
FlexTrade has announced it has integrated with BestX to provide its FlexTrader EMS clients with access to the latter’s FX trade analytics solution.
With a fully interactive interface, users can use BestX to analyse their FX executions in real-time, delivering transparency to enable better decision making whilst meeting the needs of MiFID II compliance for FX trading, the firms say. Every FX trade made within FlexTrader can be transferred live to BestX where users can analyse their performance in real-time.
Fluent Trade Technologies has announced that it has enhanced its trading technology platform by launching post-trade risk management services and ‘at-trade’ venue credit and kill switch APIs. The new services are hosted on the same platform as Fluent's existing pre-trade risk controls.
The post-trade services work across multiple trading venues, providing unified ECN and liquidity provider (LP) drop copy feed with reconciliation, post-trade risk management controls and management, and API connectivity between Fluent's risk management system and clients' legacy risk systems and market data indexes.
FX Connect is partnering with trade technology software provider, BestX, in order to offer transaction cost analysis (TCA) solutions globally.
“We’re taking what we consider to be an extremely impressive set of TCA functionality that enables out-of-the-box integration between the two platforms and offers customers what’s essentially a turn-key integrated solution that supports the TCA required to underpin best execution policy evidencing and execution,” David Newns, head of execution solutions for Global Link, State Street’s suite of e-trading platforms, technology, data and workflow solutions, tells Profit & Loss.
He adds: “Furthermore, the bespoke integration between FXConnect and BestX, which not only includes the sophisticated models which BestX currently offer, but also enhanced data around trade times, speed of execution and certainty of trade settlement makes this a unique offering.”
Integral Development Corp says it is extending its market data offering for cryptocurrencies to include 14 major cryptocurrencies connecting to “all major exchange sources across the US, Europe and Asia including Japan and Hong Kong”.
“An accurate, stable, and reliable reference price is a requirement for any market maker,” says Harpal Sandhu, CEO of Integral. “The Cryptocurrency Market Data Service connects to the most price sources and applies the most advanced price discovery algorithm available.”Integral says the new data service uses algorithms developed with Stanford University.