It was announced on Tuesday that as part of its continued international growth, the listed derivatives business within Macquarie Bank’s futures division is increasing the scope of its DMA offering to clients and has signed an agreement to take a hosted global trading solution from Patsystems, a solutions provider for derivatives trading performance and trade processing, from the first quarter 2008.
The new global trading solution will be hosted by Patsystems and deployed to Macquarie Bank offices and clients globally. This will be the first installation of Patsystems' new global trading core, an advanced solution the firm says will provide customers with a global order book enabling more efficient management of trades and trade processing. In addition, the new global trading core will support non-stop trading.
According to Macquarie Bank, the system offers low latency for faster throughput, simpler global infrastructure and total compatibility with Patsystems front-end and risk management tools.
"Macquarie is pleased to announce the implementation of Patsystems' infrastructure as part of our global trading technology," says Bill Marynissen, global head, futures division, Macquarie. "The global trading core, in particular, matches the worldwide, 24-hour structure of our futures business. Macquarie's continued growth in London made it the natural point of commencement for the roll out, and complements our existing and growing voice broking, electronic and clearing capabilities. Trading capabilities in the US, Australia and Asia will be established in the short term after implementation in London," he explains.
"We are delighted to be providing Macquarie Bank with our new global trading solution," remarks David Webber, CEO, Patsystems. "The selection of Patsystems as the independent software vendor of choice by Macquarie is a testament to the strength of our technology offering, the extent of our market connectivity and the capability of our risk systems," he adds.