Moscow Exchange has facilitated connectivity options for professional market participants and their clients from Asia and the Middle East by deploying new Points of Presence (PoPs) in collaboration with Avelacom, in data centres in Hong Kong, Singapore, Shanghai, Dubai and Mumbai. The firms say market participants have high speed access to Moex’s markets and data […]
Trading Technologies (TT) is now offering connectivity to CoinFLEX, a cryptocurrency exchange for physically delivered futures, for traders outside the US. CoinFLEX, formerly CoinfloorEX, is incorporated in the Seychelles and is focused on the Asian retail trader market as well as the market for commercial hedging, including mining firms, OTC trading desks and global proprietary trading […]
For platforms looking to differentiate on the speed of their technology the equation is measured in the scale of the challenge rather than the opportunity. As David Mercer, CEO of LMAX Exchange observes, “You can’t differentiate on speed, but you have to keep in line with the best in the market – and that means cost.”
Liquidity providers have to be able to update their prices as quickly as possible, and likewise, trading venues have to deliver price updates to their customers as efficiently as they can, to facilitate a fair trading environment. “Five years ago market data was being delivered at 100 milliseconds, then more recently it was at 5 milliseconds,” notes Mercer. “At LMAX Exchange we are live streaming and cancel and replace of orders is measured in microseconds, but already people are talking about nanoseconds – and that’s a challenge for us.”
In this week’s podcast, Colin Lambert and Galen Stops take a look at the first in-depth analysis from a broker of the CME-NEX deal and while they accept that much of what was written was already known and had been discussed there were a few nuggets of useful information in there.
On the subject of mergers and acquisitions, they also discuss the recent changes at Refinitiv and clarify their thoughts on potential M&A activity involving that firm’s Matching, Dealing and FXall businesses. Will firms be willing to splash the amount of cash required to complete such a deal? Who would be the best buyers for the combined business or elements thereof? This and more is discussed.
In a quite remarkable conclusion, they close out by expressing sympathy for a regulator – something unlikely to ever happen again – before Lambert offers listeners the benefit(?) of his experience of trading Cable with a trading recommendation as the Brexit saga continues…what could go wrong?
Avelacom has announced the launch of a new point of presence in Equinix’s Tokyo (TY3) International Business Exchange data centre, providing trading firms with faster and more reliable connectivity between TY3 and Equinix’s London (LD4/5) data centre facilities. The new London – Tokyo route delivers the lowest latency in the market – 145.3 milliseconds (round-trip), the firm claims.
The new connectivity is designed to serve the needs of financial services firms, enabling them to access market data and send orders at the highest possible speed and improve overall trading performance.
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.
SmartTrade has been chosen by Seba Crypto to deliver its crypto and traditional assets trading platform.
Seba says it has the ambition to build a regulated bank to bridge the gap between the crypto and traditional financial economies. Headquartered in Zug, Switzerland, the company says it wants to give institutions, corporates and individuals the confidence to operate in both economies, enabling new thinking, creating solutions and managing digital wealth efficiently. SmartTrade will deliver a solution which encompasses connectivity to a large number of liquidity venues.
Crypto trading technology provider Caspian has announced that cryptocurrency investment firm BlockTower Capital’s co-founder Ari Paul has joined its advisory board.
The appointment comes as Caspian also announced that it now connects to more than 25 exchanges and has 12 funds on its beta platform, with eight more clients expected later this month. The firm also says it will be adding its first OTC desk as a destination later this month and that it is allowing for a defined composite order book that aggregates and displays liquidity from more than 20 exchanges with the ability to trade against it using the Caspian Smart Order Router (SOR).
Colin Lambert talks to David Faulkner, head of business development at Fluent Trade Technologies, about the need for new thinking around how the FX industry evolves technology; the case for outsourcing non-IP processes and how technology can play a key role in helping a firm adhere to the FX Global Code of Conduct. They also discuss how this can help larger trading firms compete more successfully with smaller, nimbler trading firms in markets, as well as better focus their investment dollars.
FX markets are largely seen as mature in terms of market structure and technology, but what about fixed income markets? Colin Lambert talks to Steve Toland, founder of TransFICC about the complexities and challenges involved in modernising these markets.
He finds that while fixed income markets are behind FX markets in terms of market structure and automation, they are catching up quick, but the biggest challenge is the sheer breadth and complexity of products traded – often on the same desk.