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Tech Corner

Sydbank, Denmark’s fourth-largest bank, has selected Wey Technology‘s products to redesign its trading floor. The bank opted for Wey’s Allocation System which enables users to share resources such as market data, giving the bank hot-desking capabilities. Currently, there are 90 traders at Sydbank trading foreign exchange, equities and commodities. The bank went live with its new trading floor on 14 April.

A survey by Sybase and Financial Insights says that in spite of the economic crisis, spending on IT by trading firms will hold steady over the next year. The survey of over 200 buy-side and sell-side firms shows some areas – notably risk and compliance – will actually see increased technology spending this year.

Buy-side firms expect moderate increases in IT spending on credit risk, compliance, data centre consolidation, security, improved customer data and customer relationship management. Respondents from the sell-side expect to increase IT spending in more areas including market risk, security and fraud management tools, compliance, enterprise SOA, server virtualisation, network management, security, collaboration technologies and improved CRM.

Inter-dealer broker GFI Group is deploying Aleri‘s Real-Time Risk Monitoring solution that combines complex event processing and live online analytical processing technology to gain immediate insight into their pre- and post-execution risk.

Thomson Reuters has unveiled new Data Feed Direct technology that is designed to provide market participants with microsecond access to execution venues. The technology has been developed in response to increased data volumes, market volatility and requirements for low latency. Initial tests demonstrate an eight fold improvement in throughput.

Progress Software has announced the latest release of the Progress Apama Complex Event Processing (CEP) platform with an enhanced parallel correlator that leverages multi-core, multi-processor functionality.

The firm says the correlator delivers significantly superior complex event processing performance by providing developers and business users with unprecedented speed, and greater event throughput, resulting in improved real-time visibility and operational responsiveness. It adds that internal benchmark testing, which used real-world customer scenarios, revealed a seven-fold increase in event processing performance on an eight core machine.

In other news, Progress Software has combined the Progress Apama Algorithmic Trading Accelerator with Vhayu Velocity. Together, this offering enables firms to create trading strategies within the Apama product that exploit Vhayu’s high performance historical data capture services. Through the integration, Apama product strategies can now incorporate direct access to Vhayu’s Velocity historical data store to perform low latency, historical analytics.

Alpari (US), a global provider of online foreign exchange trading, has launched the Alpari (US) Futures Division offering US exchange traded futures and options to domestic and international investors, speculators, hedgers and institutions. ??

Alpari Futures provides traders with access to US futures exchanges through a suite of advanced trading platforms including NinjaTrader, Trade Navigator, PATS and Trading Technologies. Alpari Futures completes the principals’ vision to establish a traditional futures commission merchant (FCM) in the futures and forex industry. ??

DerivActiv has launched its proprietary derivative pricing model for providing independent valuations of financial derivatives and other financial products for its clients. The model, exclusively owned by DerivActiv, has been under development for over two years and enables a more efficient handling and processing of various financial derivatives for interest rate, currency and equity derivatives. It also automates the process of calculating values for FAS 157 purposes.??

ELX Electronic Liquidity Exchange says it will conduct up to four pre-launch testing sessions in May.The tests are in preparation for the scheduled start of live US Treasury futures trading on ELX in June, subject to approval by the Commodity Futures Trading Commission. ELX is built on BGC Partners’ eSpeed electronic trading platform.Clearing and delivery services for ELX are provided by The Options Clearing Corporation.

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