Lucera Launches Pre-Trade Credit, TCA Tools

Lucera has launched two new products to complement their LumeFX platform. 

The LumeFX credit service provides pre-trade credit monitoring that can be set up on a hierarchical basis to alert prime brokers, or clients of prime brokers that are also extending credit, when one of their clients is reaching their credit limit. 

“We’re getting a lot of traction in the prime-of-prime market with this product, following a shift in the industry where traditional prime brokers are not extending as much credit as they used to.  More firms are leveraging prime-of-primes who need to have a clear view and a means of seamlessly controlling credit parameters for their clients.  The LumeFX credit engine provides real-time detailed credit utilization with pre-defined thresholds that are configurable via a Web based UI ” says Peter Durkan, CEO of Lucera.

Lucera is also in the process of rolling out a new TCA tool that’s designed to give its clients a real time view of their flows.  The idea, he adds, is to enable Lucera’s clients to be more data driven in their execution approach and also to enable them to promptly resolve any issues the liquidity providers may have with the flow, rather than having to retroactively discuss these issues post-trade.

“The TCA tool shows, in real time, whether you would have made or lost money if you had taken the other side of a particular trade and covered it at the mid, aggressively by crossing the spread or passively by sitting on the other side, over pre-set periods of time. Through this, clients have granular view of the flow that they’re receiving at their fingertips” explains Durkan.

“One of the challenges facing the industry today is managing the large amounts of market data.  It’s becoming increasingly challenging to collect, store and analyze this data in a timely manner,” says Durkan.

Lucera’s new TCA tool works on a trade-by-trade basis and aggregates the data in real-time, a feature that sets it apart from some of the other solutions in the industry” according to Durkan,

Elsewhere, staff at Lucera have also been busy in recent months, launching a major release of the latest version of its Connect product – On demand connectivity to hundreds of counterparties through their proprietary SDN.  Durkan says that the whole system has been upgraded to improve overall performance and reduce latency. 

“Looking at the Connect product we found our clients were increasingly looking for lower latency.  With this in mind, we worked to improve the underlying architecture and have achieved a factor of  five with regards to the latency through the SDN and we will continue to refine this to reduce that even further over the next six to nine months,” he comments.

Lucera is also planning to launch in Equinix’s TY3 data center in Tokyo, aiming to be live in there by the end of October, 2016.

Galen Stops

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