Tag: Nex Optimisation

Nex Optimisation

Changes at the Top for Former NEX Businesses

CME Group has appointed new heads to the EBS, BrokerTec and Optimisation business lines as part of its ongoing integration with NEX Group, which the exchange acquired last year. Jeff Ward has been named global head of EBS, having formerly served as global head of NDFs and forwards and head of EBS Asia, based in […]

NEX Group Sees Increased Revenues

NEX Group has unveiled increased revenues for the six months to September 2017, however operating profit has dipped. Nex Markets performed well, however, and contributed to the increased revenues.
Nex says that revenue was £287 million, up from £254 million in the same period last year, a 13% increase that is trimmed to 7% on a constant currency basis. Meanwhile, trading operating profit fell from £75 million to £63 million and its trading operating profit margin fell from 30% to 22%.

Nex Offers Clearing Connectivity for NDFs

Nex Optimisation is now providing central clearing connectivity for its FX risk mitigation service in non-deliverable forwards (NDFs).

The clearing connectivity capability enables dealers to flag trades that are part of a risk mitigation cycle for automatic submission to a central counterparty clearing house (CCP).

This means that clients of Nex’s Reset FX risk mitigation service can now have their trades be submitted directly for clearing rather than having to be re-submitted for secondary matching prior to communication to a CCP. 

NEX Optimisation Partners with Baton

NEX Optimisation, NEX Group’s post-trade services unit, has announced that Baton Systems, a high-speed payments infrastructure provider, has joined NEX Infinity as the first third party to provide its services through the platform.
The two businesses say they have been working in partnership alongside an existing but un-named large, multinational bank client of Nex to deliver a new post-trade solution for FX spot transactions delivered through the Infinity platform. The solution combines Nex Optimisation’s existing matching and confirmation services with Baton’s settlement and payments services.

Knott to Step Down at NEX Optimisation

Just weeks after announcing it was allocated additional funding to its post-trade business, NEX Optimisation, NEX Group has announced that its CEO, Jenny Knott, has decided to step down from the role.
At the start of October Nex provided a trading update in which it revealed it would be spending more on building out the Optimisation business, a move that was interpreted in some quarters as a profit warning. Today the firm has announced Knott’s departure and appointed Ken Pigaga as CEO of Nex Optimisation.

NEX Optimisation to Boost Spending as Parent Expects Financial Hit

NEX Group has provided a trading update for investors, in which it has flagged increased spending at its Optimisation division under which umbrella the firm’s post-trade businesses operate, including TriOptima and Traiana.
The announcement, which is being read in some quarters as a profit warning, says Nex has chosen to increase its investment in the Optimisation business in the first six months to “ensure the business is best positioned to take advantage of the significant opportunities that it has identified”.

NEX Optimisation Expands Harmony for MiFID II Compliance

NEX Optimisation has enhanced its existing messaging services to help clients prepare for the introduction of MiFID II on 3 January 2018.
The firm says it has extended Traiana’s Harmony messaging network to enable participants to exchange additional information to assist with meeting a number of regulatory obligations under MiFID II.
This includes support for data elements associated with transparency, transaction reporting, venue execution, instrument and entity identifiers, timestamps, OTC post-trade indicators and unbundling of research as well as execution fees.

CLS, NEX Expand Aggregation Service

CLS Group (CLS) and NEX (Nex) Optimisation have together announced the expansion of CLS Aggregation Services to support the aggregation of non-CLS currencies.
The aggregation service handles spot transactions and aims to address the operational and capacity challenges experienced by banks as a result of high frequency FX trading.
A joint venture between CLS and Nex Optimisation’s Traiana business, the service works by aggregating matched FX trades to a single trade which in the case of the CLS currencies is then processed through to settlement in CLS.

NEX Launches Regulatory Reporting Platform

NEX Optimisation, the NEX Group (Nex) company that helps clients simplify complexity and optimise their resources, has launched an end-to-end regulatory reporting platform ahead of new reporting requirements coming in under MiFID II.  

Called Nex Regulatory Reporting, the new platform is being led by Collin Coleman and powered by Abide Financial, a Nex Group business. Abide is a reporting partner to more than 120 clients including banks, asset managers, hedge funds, brokers and trading firms and venues.  

“Clients will benefit from seamless processing of large data volumes under multiple regulatory regimes and transparent delivery of final reports to regulators via a suite of in-house regulatory end points,” says Coleman. “We will also continue to deliver the high level of service which our clients recognise us for.” 

Nex Optimisation Appoints MEP to Think Tank Role

Nex Optimisation, the Nex Group company established to help clients reduce complexity and optimise resources across the transaction lifecycle, has announced the launch of Nex Reg, a think tank focused on regulatory and market structure issues.
Kay Swinburne MEP has been appointed as chair and will work with senior leaders from across Nex Group to publish regular white papers and host events for the wider market to debate and illuminate key issues.
The firm says Nex Reg will support its objective of leading future thinking on key issues for the market.