A round up of the latest technology news…
Thomson Reuters and Mecklai Financial To Partner in India
Thomson Reuters and Mecklai Financial Services have agreed to jointly provide a treasury and risk management diploma programme for financial professionals in India. Mecklai is a foreign exchange risk management consultancy servicing nearly 1000 companies and two dozen non-Indian multinationals.
The Mumbai-based programme will train executives from India’s financial and corporate treasuries in areas including the global FX, debt and risk management markets.
ITJ Completes FX System Prototype
Japan’s IIJ Technology has completed a prototype next-generation foreign exchange system that can be implemented over the Internet. The FX system should be commercialised by April 2009 and will be sold primarily to financial institutions and FX service providers. IIJ Tech says it plans to offer similar systems for CFDs and other financial products.
The firm is a subsidiary of Nasdaq listed Internet Initiative Japan, an Internet access and network services provider.
Cogency Upgrades Hedge Fund Service
Cogency Software has released version 3.5 of Fund of Hedge Fund Insight, a portfolio management and accounting product aimed at fund of hedge funds. The new release features full multi-currency support, including functions for local currency ledger accounts, local currency investor and manager investment transactions and local currency receivables, payables for all investment activity. It also has functionality to manage FX spot, forwards, futures and options.
Reuters and GFI Extend Data Partnership
Reuters customers can now subscribe to market data from broker GFI via the Reuters Datascope Real-Time (RDRT) service for use in algorithmic trading, risk management, portfolio pricing and valuations. The data covers GFI credit derivatives, FX options and energy with equity derivatives and interest rate options to be added early next year.
Kyriba Opens Hong Kong Office
Kyriba Corp., a provider of web-based cash and treasury management software, has opened a Hong Kong office to support its Asia Pacific expansion. San Diego-based Kyriba has a client base of several hundred corporations and financial institutions. Its software manages cash management tasks including FX portfolio reporting.
Markit Launches Indices
Market data company Markit has launched the Markit iTraxx Europe Financial Total Return indices to serve as a benchmark for institutional investors with debt positions in financial institutions. The indices replicate the performance of a sample portfolio that buys or sells a Markit iTraxx CDS contract and invests the remaining notional amount in money market instruments.
Markit iTraxx Europe Financial Total Return indices are made up of four indices: Markit iTraxx Europe senior financials 5-year total return index; Markit iTraxx Europe subordinated financials 5-year total return index; Markit iTraxx Europe senior financials 5-year short total return index; Markit iTraxx Europe subordinated financials 5-year short total return index.