Adaptive has partnered with Kepler Cheuvreux’s execution division KCx to develop an event-driven trading system based on Aeron and its own Hydra technology.
The collaboration will provide KCx with a new front-office equities execution platform which enables clients to observe and manage KCx’s execution flow through one interface, offering new functionality and simplified workflows.
The new system builds on KCx’s algorithmic trading capabilities by connecting its global equities trading ecosystem via a new sequencer-based technical architecture.
“As part of phase 1, to ensure our clients can use our algorithms to their full potential, we wanted to build a new system that matches their sophistication and allows them to use our services in new, exciting ways,” said Anvar Karimson, chief technology officer at Kepler Cheuvreux.
“Working closely with Adaptive, we are realising our vision of a high-performance, resilient front office equities system that has the potential to scale and adapt as we meet the changing needs of institutions.”
Alongside working collaboratively with KCx to design and build its new architecture and user interface, the new system was built using Adaptive’s proprietary development technology, Hydra, which simplifies the creation of complex real-time trading systems.
“Delivering a high-performance, resilient trading system on a global scale in a short timescale for a leading broker is a significant achievement,” said Matt Barrett, chief executive at Adaptive.
“We are delighted to collaborate with KCx leveraging their extensive technical knowledge and advanced algorithms, and our Hydra technology to build an event-driven equities trading system from the ground up. Hydra’s architecture is ideally suited for the project and gives the firm strong foundations to develop new capabilities across asset classes, clients and trade types.”
The event-driven trading system is being built on a hybrid tech stack which can run on premises, with plans to run on the cloud in the future.
The two firms added that the hybrid development of the system, using the Amazon Web Services (AWS) cloud, allows for remote functional testing to ensure that performance matches the expectations of clients at time of launch.