ETF Function Stretches Across 100 Liquidity Providers Bloomberg has launched a list-trading service for exchange-traded funds (ETFs), dubbed the ETF Request for Quote (RFQe), that helps traders with pricing and liquidity searches across multiple-asset ETFs via “more than 100 liquidity providers,” Bloomberg says. RFQe builds upon current functions to help clients trade multiple securities with… Read More >>
EBS’s EMS to Link to IHS Markit’s thinkFolio
EBSI Connectivity Slated for Q4 EBS, a provider of electronic trading platforms and IT for foreign exchange markets, will be offering connectivity between the EBS Institutional (EBSI) execution management system (EMS) and thinkFolio, a multi-asset investment management platform from vendor IHS Markit, vendor officials say. The new service is slated to be available during the… Read More >>
Denali Deploys INDATA OMS for Trading & Compliance
Denali Advisors, a quantitative-based, institutional investment management firm, went live last month with a trade order management system (OMS) and FIX-based electronic trading support via provider INDATA, an implementation for pre- and post-trade securities and compliance operations. The San Diego, Calif.-based firm’s installation of INDATA’s iPM (Intelligent Portfolio Management) Epic OMS is delivered to end-users… Read More >>
GLEIF and ‘First Movers’ Complete LEI Process Test
GLEIF Works with First Mover LEI Issuers The Global Legal Entity Identifier Foundation (GLEIF) and five “first mover” Legal Entity Identifier (LEI) issuers have “successfully concluded a prototype exercise” that tested the end-to-end process of collecting and validating data on the direct and ultimate parents of legal entities that have an LEI, reports Stephan Wolf,… Read More >>
BNP Paribas Joins trueEX SEF
French banking giant BNP Paribas has joined the trueEX swap execution facility (SEF) offering its derivatives clients the ability to leverage direct clearing, broad support of global currencies, and low-cost execution of interest rate swaps via the trueFIX application programming interface (API) platform, officials say. In particular, the trueFIX API “provides asset managers and institutional… Read More >>
New FIX Version Supports Nanosecond Connections
A version of the FIX electronic trading protocol that supports high-performance transactions and data feeds is officially launching via the FIX Trading Community standards body, in an effort to help securities firms keep up with high-speed hardware, software and network connections. The standards body is releasing “a standard, non-proprietary binary message encoding” upgrade, dubbed the… Read More >>
Agency-Broker Launches Portal for Order Inspection
Dash Financial Debuts a Transparency Portal An agency broker-dealer, Dash Financial has launched DROP360, a real-time, drop-copy facility that provides transparency into “order routing behavior, execution behavior, costs and performance” for options and equities, and relays the information in a machine readable format that uses the FIX electronic trading protocol. Essentially, the DROP360 service is… Read More >>
FIX to Get Extensions for MiFID II Compliance
The FIX protocol is being modified to provide mappings to the ISO 20022 data standard required for trade reporting to European authorities, and a forthcoming FIX version will support Market Model Typology (MMT) 3.0, intended to facilitate MiFID II compliance, according to the FIX Trading Community standards body. MiFID II transaction reporting extends the reporting… Read More >>
Fidessa and Alpha Omega Take On Centralized Matching
Post-trade matching that exploits the Financial Information eXchange (FIX) electronic trading protocol is at the heart of a new partnership between electronic trading platform provider Fidessa group and FIX-based affirmation services vendor Alpha Omega, who are joining forces to offer “faster, low-cost bidirectional trade matching” via Fidessa’s post-trade Affirmation Management Service (AMS), says Steve Grob,… Read More >>
Hosting is a Serious Business: Fiserv
(Editor’s note: Many securities firms are embracing the hosted option be it a cloud-based offering, an application service provider (ASP) model or a “something-as-a-service” implementation. While much is made about the hands-off aspects of these hosted situations, operations staff members still have a lot of interactions with third-party suppliers. Tirdad Shojaie, senior vice president, product… Read More >>
