MarketFactory has integrated its API, Whisperer, with Elysium Technology Group’s middle and back office product, Mission Control.
Whisperer is a low-latency API that connects traders to over 80 ECN, bank and non-bank FX venues for market data, trading and market making. Mission Control is a cloud-based enterprise solution that enables FX trading operations to automate and optimise middle and back office functions.
A global investment bank was the first customer to go live with the integration last month, says MarketFactory in a release issued today.
TradAir is revamping its business to offer technology solutions for the crypto market, a move that coincides with senior management changes at the firm.
When TradAir co-founder, Illit Geller, stepped down as CEO of the firm in June 2017, co-founder, Ayal Jedeikin stepped in to lead the company until the role of CEO was filled by Viral Tolat in May 2018.
However, Tolat has now vacated this role, resulting in Jedeikin once again taking the reins. Profit & Loss understands that Tolat will remain a “strategic advisor” to the TradAir board.
Refinitiv, formerly the Financial and Risk business of Thomson Reuters, has announced that its Elektron real-time data delivery using Amazon Web Services (AWS) is being expanded.
In a recent survey of 250 financial firms across the globe, Refinitiv found that over 90% of firms surveyed said that they will use public cloud for the majority of their market data needs in less than four years. Further, 24% of them said that they expect to use public cloud for the majority of their market data needs within just one year.
In a release issued today, Refinitiv says that Elektron real-time cloud delivery can simplify access to real-time price information across the financial community and beyond by taking away the need to invest in on-premises infrastructure. The firm says that it also helps clients be more nimble by helping accelerate time to market for businesses that need access to real-time data.
ADM Investor Services (ADMIS) will be providing FX prime brokerage, execution and settlement services through oneZero Financial Systems’ EcoSystem.
This expansion of the FX services and distribution network will make ADMIS’s professional and institutional offerings available to a broader set of market participants.
“Having ADMIS join our EcoSystem greatly enhances the current offerings available to our users,” says Andrew Ralich, CEO of oneZero. “ADMIS is an established, well-capitalised firm with global reach. Their participation in our EcoSystem gives our customers new access to a counterparty that is highly regarded across the derivatives industry.”
OTCXN has announced that it has signed Prime Trust to serve as a neutral, third-party custodian of assets for trading entities and exchanges that use OTCXN technology to facilitate clearing and settlement of OTC block trades and cross-exchange trading. This is the second addition of a third-party custodian this week, earlier it was announced that Kingdom Trust had also joined.
Prime Trust is a chartered, regulated and insured trust company with full fiduciary powers and AML/KYC procedures supporting both US and international clients, OTCXN says.
Asian cryptocurrency liquidity provider Tilde has announced that is working with TradAir, a platform solution provider for institutional FX and cryptocurrency trading, to introduce electronic cryptocurrency trading among institutional investors in Asia. The firm says the collaboration will enable Tilde clients to trade a “multitude” of cryptocurrencies through TradAir’s personalised and intuitive platform, making trading more efficient and secure.
Tilde is an OTC cryptocurrency trading service and market maker that was launched by Asian proprietary trading firm Grasshopper in July 2018.
Trading technology and financial infrastructure provider Itiviti has launched Itiviti FX, a foreign exchange trading solution that the firm says is built for today’s dynamic FX market landscape and designed for compliance with the latest regulatory requirements including MiFID II.
Using a modular, app-based architecture Itiviti FX combines out-of-the-box FX trading capabilities with flexibility, enabling highly scalable and easily customised solutions. It offers cross-asset trading functionality, including algorithmic trading, distribution service, order and pre-trade risk. It also features a liquidity aggregation service, which allows for mixing of different types of liquidity from multiple sources.
NEX Optimisation and Capitolis have entered into a partnership to provide immediate access to Capitolis’ FX novation service through the NEX Infinity platform.
Launched in 2018, Capitolis has created a platform for end-to-end FX novation processing to try and bring greater standardisation, automation and transparency to the buy and sell sides.
Complying with the ISDA Novations Protocol, ‘Capitolis Novation’ automates the currently manual workflow in both FX prime broking and bilateral trading. The service addresses operational, audit, cost, speed and scale inefficiencies resulting from the manual process.
OTCXN, a blockchain-powered capital markets infrastructure company, has signed Kingdom Trust to serve as a neutral, third-party custodian of assets for trading entities and exchanges that use its technology to facilitate clearing and settlement of OTC block trades and cross-exchange trading.
Kingdom Trust is an independent qualified custodian with a decade of experience in the alternative asset space. As a regulated trust company, Kingdom Trust offers a regulatory compliant environment, including AML/KYC, for both domestic and international clients. The firm also offers custody solutions for cryptoassets.
Societe Generale (SG) plans to deploy Duco’s enterprise software as a service (SaaS) platform across its business as one of its primary reconciliation and data control systems.
SG will use Duco’s platform to automate key reconciliation processes across all business areas, dramatically improving efficiency compared to legacy systems and spreadsheet-based processes.
Estelle Letribot, global head of reconciliation post-trade in SG global banking and investor solutions, says: “Innovation and digital transformation are core to Societe Generale’s strategy, both internally and for our clients. By working with Duco, we have an opportunity to reinvent our operations, introducing agility, automation and machine learning in a function that has traditionally proved very expensive and time consuming.”