Tokyo, 9 October 2008 – MetaBit announces the release of Buy Side Compliance Validations and Advisory Order Routing within its intuitive XiliX trading tool, a multi-broker and multi-asset class DMA trading platform into Japan and Asian markets. In today’s market environment, the new release is of critical importance for any buy side and was closely built with Bridge Capital Securities Limited, Tokyo – one of the most successful pioneers in the area of incubating hedge funds.
XiliX’ compliance checks come in combination with smart order routing from fund advisors to traders. The functionality helps both, advisors and traders to efficiently comply with their internal and external compliance regulations in a highly efficient manner that does not jeopardize the demand for high-performance DMA and algorithmic trading strategies whilst empowering buy sides to better manage a fund’s risks and trading exposure. The new XiliX functionality will minimise trading errors and trading risks.
“We believe that today, XiliX has the most comprehensive compliance checks amongst buy side trading tools for Japan’s financial markets,” comments Takashi Yabuuchi, CEO of Bridge Capital. ”The functionality was built based on our firm’s input on design and legal requirements to ensure compliance with the regulatory environment. It is the ease of use that combines fund advisor routing with pre-trade compliance checks that enable Bridge Capital to process its expanding trading volumes at high execution speed, yet, continuously validate against tight compliance rules that govern our fund management.”
“MetaBit is particularly pleased that Bridge Capital Securities has lent its outstanding expertise to build this new functionality,” says D Burgin, CEO, MetaBit. “Much effort was spent to design these comprehensive legal compliance checks to protect asset managers and traders alike. Validations take place interactively, both on an advisory level and on a trader level. Results of compliance checks performed are delivered through an intuitive and transparent reporting method showing success, or failure. Alerts range from warnings to trade prevention.”
Considering the difficult market environment, XiliX’ compliance checks deliver a vital value addition to support buy sides on their regulatory responsibilities for managing their assets.
Source: MetaBit Systems 09.10.2008
Filed under: News, Algo Trading, Asia, Bridge Capital, Compliance, Daniel Burgin, DMA Direct Market Access, Hedge Fund, Japan, MetaBit, MLH Market Liquidity Hub, Order Routing, smart order routing, Takashi Yabuuchi, Tokyo, Trade Connectivity, Trading Hubs, Trading Network, TSE Tokyo Stock Exchange, XiliX
