SunGard updates system with latest Dodd-Frank rules
Trading technology provider SunGard has extended its Protegent market abuse solution to help firms comply with new Dodd-Frank rules from the Commodity Futures Trading Commission (CFTC).
The upgrade will address a new CFTC rule which makes proving fraud and manipulation in derivatives markets easier. SunGard has extended the Protegent system’s rules library to help flag potential instances of market abuse and upgraded the case management tools to simplify surveillance.
“Under Dodd-Frank, most trading firms, banks, insurance companies, hedge funds and brokers will have to adequately measure and monitor all variables of anti-manipulation. They need fully automated systems to help ensure compliance without negatively affecting productivity,” said Steve Sabin, COO of SunGard’s Protegent business unit.
ABN AMRO Clearing implements Nasdaq OMX broker solution
ABN AMRO Clearing, the clearing arm of ABN AMRO, will use Nasdaq OMX’s SMARTS Broker solution for surveillance and compliance monitoring for equity, derivative and commodity markets in Europe, the US and Asia-Pacific.
The system lets ABN AMRO Clearing check for suspicious trading activity through automated trade monitoring and system alerts for forms of market abuse, insider trading and market manipulation.
“SMARTS Broker’s speed to market and cross-functionality was very important in our decision to partner with an automated trading solution provider,” said Paul Willis, global compliance officer at ABN AMRO Clearing.
CBOE moves to Equinix New York data centre
Global data centre firm Equinix will host the Chicago Board Options Exchange’s Command trading engine platform on the NY4 International Business Exchange data centre in Secaucus, New Jersey.
The move will cut down latency to New York-based firms and offer customers based inside the Equinix system direct connectivity to the CBOE.
“We can rapidly add new products, enhance trading speed and streamline customer access to the most comprehensive array of options and volatility products anywhere,” said Gerald O’Connell, executive vice president and CIO of CBOE.
Prague Stock Exchange links to Xetra network
The Prague Stock Exchange has migrated its electronic securities trading to market operator Deutsche Börse’s Xetra trading system via the Vienna Stock Exchange.
Xetra trading participants can now access Prague’s financial market and the CEE Stock Exchange Group was also strengthened by the move, as the Prague exchange joined venues in Vienna, Budapest and Ljubljana which make up the network.
“The introduction of the new trading system will make trading at the Prague Stock Exchange more attractive for international investors who already use the Xetra system. We expect the implementation to have a positive effect on liquidity,” said Petr Koblic, general director of the Prague Stock Exchange
Tethys Technology EMS selected by JPM Capital
Quantitative investment management JPM Capital has gone live with TethysEMS, a multi-asset class algorithmic trading platform from provider Tethys Technology.
The system is deployed over the TethysCloud solution and offers analytics and trading tools for execution. The platform also features trading algos and tools to let JPM Capital test their own algos.
“We have used other systems before and chose the TethysEMS for its performance, flexibility and high-quality global support. We were able to build and test our proprietary strategies rapidly and be ready for production within one week,” said Jacqueline Matthews, managing partner at JPM Capital.
Pugh Capital selects Linedata’s Longview
Pugh Capital Management has selected trading technology provider Linedata’s Longview EMS for its fixed income capabilities. The front office system offers portfolio management, trading and pre-trade compliance.
The system supports all major fixed income security types, from mortgages to credit default swaps to repurchase agreements and collateral management.
“Fixed income portfolio management, trading and compliance are increasing in complexity. Keeping pace with the demands of the 60% of our clients who use our fixed income functionality has been tremendously rewarding,” said Gavin Little-Gill, acting managing director of Linedata North America.