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Marco Polo New World appoints Christian Robertson as CEO

NEW YORK – 03 FEBRUARY 2014 – Marco Polo New World, the leading provider of trading solutions for developed and emerging markets, today announced that Christian Robertson has assumed the role of Chief Executive Officer of the company. The Marco Polo New World Board of Advisers has carefully selected Mr Robertson for his unique financial services delivery experience garnered during nearly a decade of building trading platforms around the world.

Marco Polo New World appointed Mr Robertson to lead the firm based on the success as co-founder of Paladyne Systems, a leading provider of buy-side technology and services,  acquired by Broadridge Financial Solutions (NYSE: BR)  in September 2011.  Before Paladyne, Mr Robertson was the founder and President of GAA, a consulting firm providing high-end systems to the alternative investment industry, having spent his early career as a technology investment banker for Credit Suisse and later Merrill Lynch.

“I believe there is a tremendous opportunity for revenue growth and expansion of the Marco Polo New World product offering given our long-standing relationships with foreign brokers and our unique global trading reach,” commented Christian Robertson. “Marco Polo New World is able to leverage Perseus infrastructure services in new and existing markets.  Investing in the latest technologies, Marco Polo New World will be able to grow into new global markets and lines of business, while expanding our existing platform,” he concluded.

Marco Polo New World, established in 2000, was one of the original firms who set out to overcome the barriers to investing and trading between developed and emerging markets. Today Marco Polo New World, with its new focus and technology, has in place a global electronic trading platform that currently provides connections to 80+ plus countries representing more than 100 markets.

Dr. Jock Percy, Chairman of Marco Polo New World commented, “We are delighted to have Christian take the helm given his proven track record, innovative thought leadership and his ability to execute on deployment of a global trading technology business.”

Source: Marco Polo New World,03.02.2014

Filed under: Brazil, Latin America, Mexico, Trading Technology, , , , , ,

PERSEUS launches Precision Time Service in CME AURORA Data Center

CHICAGO and NEW YORK, October 3, 2013 – Perseus Telecom and CME Group, the world’s leading and most diverse derivatives marketplace, today announced a new service offering called High Precision Time™. This enables customers to synchronize their time systems across a multitude of data centers where Perseus offers this service and is available at CME Group’s data center in Aurora, IL effective immediately.

 The service includes access to a National Institute of Standards and Technology (NIST)-certified GPS antenna as well as Network Time Protocol (NTP) and Precision Time Protocol (PTP) connectivity with nanosecond accuracy to the Coordinated Universal Time UTC(NIST) timescale.

 “The build out of High Precision Time™ with the CME Co-location Services Group in Aurora, was an important undertaking in helping our mutual customers mitigate the risks of poor or out of sync time stamps when disseminating and trading on sensitive market information,” said Andrew Kusminsky, Chief Operating Officer at Perseus Telecom. “We look forward to serving trading firms and vendors such as those within CME Group’s data center which require a high level of responsibility in compliance and high precision trading.”

CME Co-Location Services will provide cross-connect access to High Precision Time™ with the following services now available:

  • Certified NIST GPS Antenna access
  • Certified UTC(NIST) timescale accuracy and reporting
  • Choice of delivery protocols: NTP (Network Time Protocol) and PTP (Precision Time Protocol)
  • Choice of connectivity access: RJ45 copper, COAX Cable, 1Gbps, 10Gbps and  Dedicated fiber cross connect

“We are committed to providing the CME Group trading community with the proper and relevant technology needed in a high-tech datacenter environment,” said Craig Mohan, Managing Director, Co-Location and Data Center Services for CME Group. “We have partnered with Perseus Telecom to make this service available to all customers located in Aurora at a time when regulatory changes and the need to have more precision in reporting trading events are crucial to sound risk management.”

Source: Perseus, 03.10.2013

Filed under: Exchanges, Trading Technology, , , ,

Pioneers and Leaders of Emerging Markets Trading Launches: Marco Polo New World

Marco Polo New World redefines global trading solutions through innovation and reliability

Perseus Telecom providing ultra-low latency connectivity and infrastructure to Marco Polo New World

NEW YORK – 30 September 2013 – Recently acquired Marco Polo Securities today announced that it has integrated with ‘Marco Polo New World.’ The Marco Polo New World vision encompasses new management along with next generation technology, befitting the firm’s testament to reliability and performance that have kept loyal financial services customers in place for fourteen years.

Cliff Goldman, CFO and President of Marco Polo, stated, “Launching Marco Polo New World coincides precisely with the strategic repositioning the firm has made, in the context of being a vendor of strength and reliability for the customers we serve in developed and emerging markets.”

Established in 2000, the original firm set out to overcome the barriers to investing and trading between developed and emerging markets. Today Marco Polo New World, with its new focus and technology, has in place a global electronic trading platform which currently provides connections to 70 plus countries representing more than 100 markets. This trading platform has an extensive global network of broker dealers and asset managers that enjoy neutrality and flexibility, all whom are backed by an experienced and knowledgeable service team that works around-the-clock.

Defining global trading solutions

  • Premier global electronic trading provider with experienced and professional customer support
  • Committed to continually providing new gateways to Emerging Markets
  • Strong new leadership and vision, committed to innovation and reliability

Anthony Orantes, Managing Director of Marco Polo New World, says, “Customer feedback has been phenomenal throughout the Marco Polo New World launch. We have strong support and backing by Perseus Telecom, which helps our customers take advantage of the Perseus global ultra-low latency connectivity to exchanges and trading venues. We also selected a world-class management team comprised of executives with significant experience operating in global markets, who understand market structure, advanced technology, and electronic exchange trading,” he concludes.

‘Defining global trading solutions’ is central to the Marco Polo New World value proposition. “Our New World brand name, and even our logo, is based on innovation, technology, and connectivity.  This core value reinforces what we are committed to deliver to our global customer base,” said Kamran Rafieyan, Director of Marco Polo New World. “With the new leadership in place our firm can deliver a higher level of service for our current and future customers.”

With the new management team of Dr. Jock Percy, Marco Polo New World Chairman, Cliff Goldman, CFO and President of Marco Polo Securities, Anthony Orantes, Managing Director Sales, and newly appointed Kamran Rafieyan, Director of Marco Polo New World, the company’s vision is being executed by a team of trusted, experienced, and performance-driven partners.   Under the guidance of this leadership, Marco Polo New World will work closely with its customers to help them navigate through the array of complexities in today’s global trading markets.

Perseus provides network and infrastructure to Marco Polo New World resulting in significant advantages for the firm and its customers. In addition to more efficient operations for the company, by utilizing the Perseus award winning ultra low latency network, Marco Polo New World customers will be availed to increased trading speeds.

Marco Polo New World, through its local exchange and brokerage relationships, offers intra-market connectivity and routing to brokers and exchanges in more than 100 markets. “Perseus Telecom is a global market-to-market exchange connectivity provider with the lowest latency available, and it is now supercharging the Marco Polo New World platform,” said Dr. Jock Percy, CEO of Perseus Telecom. “Perseus serves a significant number of trading firms, exchanges and technology providers with unsurpassed speed and precision,” Percy added.

Source: MarcoPolo & Perseus,30.09.2013

Filed under: Asia, Latin America, Trading Technology, , , , , , , , , , , ,

Brazil:XP Investimentos offers Global ULL Access to BM&F Bovespa with Perseus

XP Investimentos connects with the Perseus ULL network for order routing to BM&F Bovespa

XP Investimentos choose RCB compliant Perseus network for sponsored international trading

SAO PAULO and NEW YORK – 28 August 2013 – Perseus Telecom, a leading provider of ultra-low latency, high capacity global networks today announced that XP Investimentos with offices in Sao Paulo and New York, has established an ON-NET presence on the Perseus Telecom global exchange network.

XP Investimentos is a market leading broker dealer and the largest independent broker dealer in Brazil. XP executes approximately seven percent of the Bovespa equity volume on a daily basis and is responsible for twenty percent of all options volume on the Bovespa. XP Investimentos is also the second largest Ibovespa futures broker on the BM&F making it a full service broker deal in all Brazilian exchange securities.

The strategic network connection with Perseus allows XP Investimentos clients in the US, Europe and Asia to access Brazilian exchange market data and trade execution over the Global Telecoms Business Innovation Award winning link to Brazil.  An XP customer connects through sponsored access over the Perseus ultra low latency network with more than sixty global points-of-presence.

Perseus has operated the fastest market-to-market network connection between New York and Brazil from the datacenters of Nasdaq OMX and the BM&F Bovespa for almost two years while working tirelessly to enhance performance. Dozens of companies within financial markets including exchanges, banks, brokers, high frequency traders, market data and order management vendors have all found advantageous opportunities with accelerated speed over this unique Perseus network.

Customers have selected Perseus Telecom for the fastest connections from Chicago to New York, New York to Brazil, New York to London, London to Frankfurt and with other key market-to-market connections. Moreover, Perseus customers rely on best-in-class speed to market backed by a performance driven “Walk-Away” Service Level Agreement (SLA).

Brian Sweeney, Managing Director of XP Securities in New York, said, “the Brazilian trading market continues to expand its appeal around the world, making it more important for XP to offer simplified access to our customers and interested counter parties.”

Marcio Castro, Chief Information Officer of XP Investimentos and XP Securities added, “By having the Perseus connection in place, XP will provide clients with the option for the fastest sponsored access to the BM&F Bovespa from many points around the world.  Mr. Castro added, “XP chose Perseus because it is the fastest network between our two most important markets New York and Brazil. It is highly reliable and meets the RCB compliant features needed to move trades into the BM&F Bovespa exchange.”

Dr. Jock Percy, CEO of Perseus Telecom, commented, “Perseus has built a global network from market to market precisely for major market leading broker dealers such as XP Investimentos. We are very happy XP has chosen to allow its buy-side customer to connect with XP over Perseus, further bringing markets together regionally and internationally.”

Source: Perseus, 28.08.2013

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, Trading Technology, , , , , , ,

Sao Paulo based BLK Sistemas Financeiros Accelerates Trading with Perseus LiquidPath®

-          Perseus Telecom Brazil Connects BLK Sistemas Financeiros to Brazil Exchange in less than 50 microseconds

-          BLK Sistemas Financeiros Enhances Liquidity options with Perseus Ultra-Low Latency DMA Connectivity

SAO PAULO– 15 July 2013 – Perseus Telecom, a leading provider of ultra-low latency, high capacity global networks, today announced BLK Sistemas Financeiros has connected to the BM&F Bovespa through the Perseus Telecom LiquidPath connection of sub 50 microseconds. LiquidPath launched late in 2012 by Perseus, connects the ALOG/Equinix (SP1) datacenter with the BM&F Bovespa data center (CT1) in less than 50 microseconds Round Trip Delay (RTD).

Perseus Telecom winners of the Global Telecoms Business Innovation award in 2012 for building the fastest connection between the Nasdaq OMX datacenter in New York and the BM&F Bovespa data center in Sao Paulo, has since launched its LiquidPath product, which furthers the commitment to market-to-market trading. LiquidPath assists brokers, vendors and their customers, with international communications, infrastructure support and ultra low-latency last mile connectivity to exchanges.

Rogério Paiva Managing Director at BLK Sistemas Financeiros said, “We carefully selected Perseus Telecom, who is well known in Brazil for its exchange connectivity platform, LiquidPath, which has helped ensure the best performance locally for our customers.”

BLK Sistemas Financeiros specializes in electronic & algorithmic trading with new infrastructure developed in Brazil called ‘Proximity Colocation’ for high speed electronic trading operations. BLK customers utilize sophisticated ultra low-latency straight through processing environment, based on the latest technological advancements available.

“BLK Sistemas Financeiros is a great new addition to the Perseus Telecom community connecting to our global network from Brazil, said Marcos Guimaraes, President of Perseus Telecom Brazil, “BLK can now help its customers take advantage our LiquidPath infrastructure to provide access to the BM&F Bovespa for its trading customers, but also to other exchanges in the 60 global markets Perseus serves.”

Source, Perseus, 15.07.2013

Filed under: BM&FBOVESPA, Brazil, Latin America, Trading Technology, , , , , , , , , ,

Perseus Clocks Sub-Nanosecond UTC Timescale in Equinix’s London Slough Campus

Sub-nanosecond FINRA Provable Timestamp; Live in the US and Europe for Global Synchronization of Trading Systems

 LONDON – 03 July 2013 – Perseus Telecom, a leading provider of ultra-low latency, high capacity networks from market-to-market, today announced its High Precision Time™ offering that provides deterministic synchronization with the US timescale UTC (Coordinated Universal Time) assisting firms balance enterprise systems and meet regulation guidelines.

Regulatory mandates and technological efficiencies continue to drive the need for more transparency in low latency high speed trading. This has pushed firms to move low latency policies deeper through the stack from the wire to the chipset, garnering the need to ingest provable time more accurately. Widespread deployment of time platforms use a combination of GPS time data and NTP (Network Time Protocol) for the delivery of time, where both are proving less reliable with high latency time synchronization despite the growth of market data and faster processing speeds across financial markets.

The Perseus time service utilizes 1 PPS (Pulse Per Second), an electrical signal Perseus uses to condition a customer server clock with the highest precision time data delivery backed by a Perseus SLA of less than one nanosecond. Other Perseus technologies such as fiber-optic and wireless connectivity with proximity colocation, all contribute to condition local grandmaster atomic clocks that feed time at electrical pulse speeds to customer trading systems and applications.

Stewart Orrell, Managing Director, Global Capital Markets at Equinix commented, “We are very pleased to have Perseus provide new critical infrastructure for certifiable time data across the Equinix ecosystem both in the US and now in Europe. Having financial firms able to reference UTC time data across existing trading ecosystems helps meet client requirements as they communicate and trade from market to market.”

The atomic clock installation at the Equinix LD4 datacenter was built to serve local and international broker dealers and the buy-sides such as High Frequency Trading firms. This new environment allows participants to interoperate their extremely fast market data, algorithmic and order execution servers in a colocated LAN environment a few feet from the Perseus atomic clocks and the markets of the Aquis Exchange, BATS-Chi-X, BOAT, ICAP EBS, Nasdaq OMX NLX, Turquoise and the London Metal Exchange (LME).

 Andrew Kusminsky, Chief Operating and Strategy Officer at Perseus said, “Rolling out High Precision Time™ in Equinix datacenters is one of our key strategies to help our financial customers performing at the lowest latency speeds in global markets. The Perseus precision time services help to mitigate risk, meet new stringent financial compliance guidelines, and ensure HFT systems are consistently accurate as they trade over our ultra low-latency networks including QuanTA, LiquidPath® and wireless/microwave.”

Source: Perseus,03.07.2013

Filed under: Trading Technology, , , , ,

Perseus Brazil Debuts Market-To-Market Liquidity Platform LiquidPath®

  • Fastest Connection to the BM&F Bovespa from Equinix/ALOG in Sao Paulo
  • Financial Compliant Network for Global Direct Market Access

Perseus Telecom, a leading provider of ultra-low latency, high capacity networks for market-to-market connectivity, today announced a fully managed ultra low latency solution offering called LiquidPath®. The service offering encompasses a complete trading network solution and infrastructure service for local and international exchange trading across global financial markets. LiquidPath® was developed to empower both the international Buy-Side with the local Sell-Side in order to take full advantage of the ever-evolving Emerging Markets landscape.

LiquidPath® connects the Perseus ultra low latency global network with key exchange data centers around the world. The service assists with procurement, staging and management of infrastructure for firms in need of support in foreign or emerging markets. Deployed at the beginning of 2013, the LiquidPath® platform connects the Perseus award winning network connection of New York’s Nasdaq OMX datacenter with the Sao Paulo Equinix/ALOG datacenter and into the site of the BM&F Bovespa exchange.

In Brazil, LiquidPath® is run by a local Perseus team of financial technology experts who purchase, install and manage equipment used for market data and trading in the Brazilian financial markets. The solution has connected Equinix/ALOG with BM&F Bovespa in less than 50 microseconds making LiquidPath® the fastest connection in market. LiquidPath® is an RCB compliant network of Brazilian exchange market data and trade execution messages.

Key Features of LiquidPath® Brazil

  • Market-To-Market: Global connectivity to 60+ financial markets.
  • Ultra Low-Latency: Fastest trans-Atlantic connection between London & Frankfurt; New York & London; New York & Sao Paulo.
  • Market Access Acceleration: Turn-up connections with exchanges, vendors and counter parties within proximity datacenters in days not months.
  • Agile Technology Support: Immediate adoption of new trading technologies as made available to stay competitive.
  • Financial Network Compliant: RCB network allowing for DMA access to local CVMs and exchange ports.

The LiquidPath® platform has seen an immediate market adoption, as many customers have connected onto the fast path between the Equinix/ALOG data center and the BM&F Bovespa data center with less than 50 microseconds RTD.

Marcos Guimaraes, President of Perseus do Brazil said, “In this new world of globalized, multi-market and multi-asset trading, the total cost of ownership for a firm has become extremely complex and competitive. Our latest offering provides simple, fast and flexible access to global exchange liquidity solving the problems our top end customers face.”

The Perseus LiquidPath® product is part of a suite of services designed to help trading firms get access to far reaching exchanges’ market data, send order execution and be in proximity with the trading community of multiple markets. Perseus stands by its testament of simplifying the process of trading connectivity, solving the problems that the complexities of international deployment involves and keeping the process efficient so that customers can mitigate risk and save money.

Source: Perseus 25.06.2013

Filed under: Asia, BM&FBOVESPA, Brazil, Exchanges, Latin America, Market Data, Trading Technology, , , , , , , , , , ,

Mexico, The Emerging Latin American Powerhouse

TABB Forum:  For the past few years, coverage of Mexico in the U.S. media has largely been dominated by stories of violence stemming from the country’s drug cartels. Lately though, the media have increasingly been turning their attention to the story of Mexico’s booming economy, and new president Enrique Peña Nieto’s bold moves to radically reshape it. This robust growth in Mexico looks set to continue for some time, which has led the Financial Times to label Mexico as the “Aztec Tiger.”1

MexDer, the nation’s only futures exchange, has been taking steps to ensure that it grows apace with the nation’s economy by making substantial upgrades to its matching engine, while continuing to make it easier for foreign investors to access the market. As a result of these changes, as of yesterday, April 14, north-to-south routing to MexDer via CME Group’s Globex® platform is available on Trading Technologies. You can read the details in the news release that we published today and on  TradingTechnology website.

The Aztec Tiger 

A perfect storm of positive influences is coming together to make Mexico one of the world’s emerging economic powerhouses. Mexico has a young and growing population, low levels of government debt and low inflation. The country is developing into a leading exporter due in part to widespread implementation of new manufacturing processes, but also due to the fact that Mexico has free trade pacts with 44 countries—more than any other nation on earth.These forces have combined to make Mexico’s economy one of the few bright spots in a global economy still working off the hangover resulting from the credit bubble. Mexico’s economy grew at around four percent in 2012, quadruple the growth rate of Latin America’s largest economy, Brazil.2 The Mexican peso hit a 19-month high against the U.S. dollar in March, and has outpaced 16 other major world currencies over the last month.3

With its growth track record and favorable conditions for growth to continue, a Nomura Equity Research report in July 2012 predicted that Mexico would overtake Brazil to become the largest Latin American economy within the next decade.4 In addition, Standard & Poor’s and Fitch have indicated that in the near future, they are likely to upgrade Mexico’s debt, which is already investment grade.5

A Pact for Mexico, An Open Door for Growth

Much of the optimism for Mexico’s future can be traced back to its new president, Enrique Peña Nieto. He hails from the Institutional Revolutionary Party (PRI), which ruled Mexico uninterrupted for 71 years and was identified with corruption and inefficient bureaucracy. That being said, President Nieto is quickly making himself known as a risk taker, willing to take on fights in which none of his predecessors seemed willing to engage.

Within two days of his swearing-in last December, Nieto’s PRI signed a “Pact for Mexico”6 with the opposition National Action Party (PAN). This pact outlines 95 proposals to modernize and liberalize Mexico’s economy. Nieto began by taking on the richest man in the world, Carlos Slim, by announcing plans to foster competition in the telecommunication and television industries, which are currently dominated by monopolies. Later this year, Nieto is expected to propose his most significant change, opening up Mexico’s energy market and allowing the state-run oil concern Pemex to work with the world’s largest oil companies. It’s expected that these reforms, once enacted, will increase Mexico’s GDP growth from four percent to six percent a year.7

Making MoNeT

In parallel, MexDer and the Mexican government have done quite a bit to attract foreign investors, and to make it easy for them to access the market. Perhaps one of the most significant changes has been the development of the MoNeT matching engine, which went live on Bolsa Mexicana de Valores (BMV), the equities segment, last fall.

The MoNeT matching engine was designed to attract high-frequency traders, mainly from the U.S. and Europe. It boasts internal latencies of 90 microseconds, which is faster than the 110 microseconds of NASDAQ or 125 microseconds at the London Stock Exchange.8 BMV volumes have increased 30 percent to 40 percent since the launch of the new matching engine.9For international traders and investors, accessing MexDer is straightforward. The north-to-south routing available via CME Globex allows any TT customer with an existing CME infrastructure to route orders to MexDer’s matching engine. MexDer is also accessible now in TT’s MultiBroker environment, which is currently available in beta. Additional information regarding how CME users can access MexDer is posted on the CME website.There are a number of other reasons why doing business in Mexico is easier than most other Latin American countries. Unlike Brazil, there is no withholding tax of any kind on foreign investment. The Mexican peso is a freely traded and easily convertible currency, and MexDer’s clearing house, Asigna, accepts U.S. dollar-denominated collateral.

La Oportunidad Está En Todas Partes

Owing to the fact that the U.S. does $1.5 billion per day in trade with Mexico,10 the Mexican markets are, predictably, highly correlated with America’s. North-to-south customers trading MexDer via Globex have access to a number of financial futures that allow for arbitrage opportunities against their American counterparts.

MexDer lists the IPC index of the BMV, which in general tracks closely to the S&P 500. The full Mexican yield curve is available on MexDer, from one-month bills to 30-year bonds, and it converges with the U.S. yield curve. Finally, MexDer lists a Mexican peso/U.S. dollar FX future, one of the 20 biggest FX futures contracts in the world by volume, which sets up arbitrage opportunities with the CME’s equally liquid peso/U.S. dollar future. In a recent MarketsWiki interview, MexDer CEO Jorge Alegria indicated that going forward, the exchange would likely look to list commodity futures linked to similar contracts listed on CME Group.

BMV IPC vs. S&P 500
Chart obtained from Yahoo! Finance

The ascent of the Aztec Tiger is no sure thing. There is always the danger of President Nieto’s PRI party losing its appetite for reform and returning to its old ways. There’s the chance that the hiccups in the U.S. economic recovery may impact Mexico, given that 30 percent of the Mexican economy is tied to U.S. exports. There may even be signs that Mexico’s economy is stalling already, which led the central bank to reduce interest rates for the first time since March 2009. Either way, TT users now have the ability to participate in one of today’s most interesting markets.

1 Thomson, Adam. “Mexico: Aztec tiger.” Financial Times. January 30, 2013.
2 Rathbone, John-Paul. “Mexico’s reform plan lifts hopes for greater prosperity.” Financial Times. March 20, 2013
3 Kwan Yuk, Pan. “Mexican peso hits 19 month high”. Financial Times. March 14, 2013.

Filed under: BMV - Mexico, Exchanges, Latin America, Mexico, News, Trading Technology, , , , , , , , , , , , , , , , , , ,

EUREX Group and Bombay Stock Exchange (BSE) in Technology Alliance

Eurex Group and the Bombay Stock Exchange (BSE) announced today that they have agreed to deepen their strategic partnership through a long-term technology alliance under which BSE will join the Eurex technology roadmap and deploy Deutsche Börse Group’s trading architecture in a first step. BSE aims to replace its derivatives market platform in the course of 2013 and plans to subsequently replace also its cash market platform. This agreement is an important step in further developing the strategic partnership between Eurex and BSE.

The new partnership in the technology sphere will allow BSE to quickly achieve the highest global standards for speed, reliability and order-handling capacity. It will bring to BSE state-of-the art levels of capacity and latency, already in place at the International Securities Exchange (ISE) since summer 2011 and in roll-out at Eurex Exchange. By aligning BSE, Eurex Exchange and ISE markets on a common trading infrastructure, IT costs for shared customers will be significantly reduced. This will also reduce technology development and installation efforts for Eurex and ISE members who wish to connect to BSE and vice versa as well as strengthen the case for cross-listing.

“We expect our technology alliance with Eurex will help BSE to compete more effectively in India, to help us attract more international participants into our marketplace and improve our market share in derivatives and equity trading,” said Ashish Chauhan, MD and CEO of BSE. “It will quickly put BSE into the Premier League of exchanges in terms of the performance of our matching engine and overall technology infrastructure.”

“This technology alliance strengthens our long-term partnership with BSE, and is another milestone in our Asian strategic roadmap, in which India obviously plays an important role. This technology alliance also contributes to growing our global liquidity network, based on common market infrastructure, for the benefit of both our partners and our members,” said Andreas Preuss, CEO of Eurex and Deputy CEO of Deutsche Börse AG.

Source: MondoVision, 12.03.2013

Filed under: Asia, Exchanges, India, Trading Technology, , , , , , , ,

ICE gets green light for Brazilian fixed income trading platform

IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, and Cetip S.A., Latin America’s largest private fixed income depository, announced that the jointly developed fixed income trading platform Cetip | Trader is expected to launch on February 25, 2013.

This follows a successful beta test that started in August and final regulatory approval from the Brazilian securities regulator Comissao de Valores Mobiliarios (CVM) today.

“This platform reinforces Cetip’s commitment to develop an efficient and transparent secondary market, respecting and improving the practices of our local over-the-counter market,” said Cetip Managing Director Carlos Ratto.

Cetip | Trader offers market participants access to voice confirmation, electronic trading and historical data in a single platform. Over the past few months, it has been thoroughly tested in a simulated trading environment with approximately 80 institutions entering more than 100,000 mock trades. While the platform was initially developed for corporate and government bonds, its flexible architecture is adaptable for new products as driven by market demand.

“We are providing an innovative solution that brings the front office a more dynamic and intuitive language,” said Cetip Trading Solutions Manager Ricardo Vit. “Cetip | Trader is a flexible and simple tool that will help keep our customers ahead of the curve.”

“ICE was pleased to work with Cetip to build a product that is customized for the Brazilian market, available in Portuguese, and that provides a complete trading solution to the market for corporate and government bonds,” said ICE Senior Vice President and Chief Strategic Officer Dave Goone.

ICE Link, ICE’s post-trade processing service, will also be available to Cetip | Trader customers beginning February 25. ICE Link has developed straight-through-processing workflows customized for the Brazilian bond market. These workflows enable middle and back office operations to more efficiently and effectively allocate trades and submit them to Cetip for registration.

Said Vit, “In addition to easier access to liquidity and execution, the complete solution also aims for better operational risk mitigation and total cost reduction on the life of a trade. ICE Link allows standardization in the trade workflow and better data integrations with counterparties and internal systems. This provides market participants a level of automation never before experienced in the Brazilian over-the-counter market.”

Source:  IntercontinentalExchange, 08.02.2013

Filed under: Brazil, Exchanges, Latin America, Trading Technology, , , , , , ,

Banchile builds on Fidessa’s sell-side trading platform and connectivity network

São Paulo, January 22, 2013 – Fidessa group plc (LSE: FDSA) has announced today that Banchile, Chile’s third largest brokerage house, has selected its Latin American sell-side trading platform to underpin its institutional trading activity. The scalable SaaS solution, which includes access to Fidessa’s extensive global connectivity network, will provide Banchile with a firm foundation from which to pursue its growth strategy. The decision followed an extensive due diligence process by Banchile.

Fidessa’s Latin American trading platform gives Banchile world-class technology and infrastructure, tailored to the region’s specific local regulatory and market needs. Banchile will benefit from Fidessa’s highly-sophisticated order management system, which delivers seamless straight-through processing of international institutional orders from order creation and routing, to automatic notice of executions and confirmations. Fidessa will also provide advanced trading tools, including algorithmic and basket trading capabilities, to augment Banchile’s service offering and facilitate complex trading workflows. The implementation of these new functions will complement Banchile’s research services and extend the services their execution desk provides.

In addition, Banchile will gain membership to Fidessa’s global connectivity network, which processes order flow of more than $800 billion each month, granting it access to 3,200 buy-sides and 180 venues globally. The system will be hosted by Fidessa and co-located at the Santiago Stock Exchange. With better proximity to the exchange, Banchile will gain access to reliable, low-latency execution capabilities and be able to leverage the exchange’s ongoing investments in infrastructure and improvements to its matching engine.

Jose Antonio Diaz, Chief Investment Officer at Banchile, commented: “Through Fidessa’s trading platform, we are leveraging the most sophisticated and robust trading technology used by market participants across the globe. This enables us to offer world-class service to our growing institutional client base. Fidessa’s in-depth knowledge of the region is evident and this, coupled with its strong reputation for delivery and support services, drove our decision to partner with them.”

Alice Botis, Head of Business Development for Fidessa in Latin America, added: “We are delighted to add Banchile to our growing Latin American client base, demonstrating the strong demand for Fidessa solutions by domestic and international market participants. We are seeing a lot of activity in the Andean region with firms replacing legacy vendor and proprietary systems and investing in customizable, high-throughput, low-latency trading solutions to enable high-quality execution, greater operating efficiency and a solid basis for growth.”

Source: Fidessa, 22.01.2013

Filed under: Chile, FIX Connectivity, Trading Technology, , , , , , ,

Peru: LSE signs Bolsa de Valores de Lima to MillenniumIT tech

London Stock Exchange Group today announced that it has entered into a technology partnership with Bolsa de Valores de Lima.

MillenniumIT, a wholly-owned subsidiary of London Stock Exchange Group will provide state of the art trading and Smart Order Routing technology to Peru’s markets via its ultra low latency, highly scalable trading platform, Millennium Exchange and Millennium SOR.

Tony Weeresinghe, Director of Global Development at London Stock Exchange Group and CEO of MillenniumIT, said: “This is a significant achievement for us. Peru is one of Latin America’s fastest growing economies, and there is need for efficient, reliable capital markets infrastructure as business and investment continues to develop there. We look forward to building on this partnership, and playing our part in the next stage of Bolsa de Valores de Lima’s development.”

Francis Stenning, CEO at Bolsa de Valores de Lima, said: “We are very conscious of the relevance of technology in our business. That is why we believe this upgrade in our electronic trading platform and order routing system will take us to the forefront of technology. It will allow Bolsa de Valores de Lima to keep up with the growing Peruvian economy, provide new services to the local market and increase its efficiency. This will allow us to benefit from better tools and a strategic alliance with one of the most developed stock exchanges in the world, London Stock Exchange Group, and to take advantage of more globally interconnected markets, including MILA.”

Source: Finextra, 18.01.2013

Filed under: Exchanges, Latin America, Peru, Trading Technology, , , , , ,

Mexico City-Based Broker CI Casa de Bolsa Signs with Perseus Telecom

  •  For the Fastest, Market-To-Market Connection with Mexico
  • Partnership enables New York and Mexico City trading communities to receive market signals and send transactions at the lowest latency rates available

Perseus Telecom, a leading global provider of connectivity, today announced that it has signed CI Casa de Bolsa to its ultra-low latency network between the New York and Mexico City markets. The launch of this partnership represents a landmark development as the fastest trading route between the two marketplaces and creates new opportunities for trading firms across the globe.

CI Casa de Bolsa, a leading Mexico City-based brokerage house, has a global client base seeking liquidity in the Mexican marketplace. With US-listed stocks displayed in Mexico, CI Casa de Bolsa has chosen Perseus Telecom for its high-speed, ultra low-latency network connection from New York to Mexico City for the fastest execution capabilities possible for foreign investors.

“We are very happy with our decision to use Perseus Telecom. Their network is built for performance and customer satisfaction without the overbearing costs that low-latency technology can sometimes bring to our bottom line,” states Mauricio Suarez, Head of International Sales at CI Casa de Bolsa. “The beneficiaries of lower costs and lower latency are our clients and serving them stands as CI Casa de Bolsa’s primary objective.”

Dr. Jock Percy, CEO of Perseus Telecom, explains, “We are quite pleased to have a reputable firm like CI Casa de Bolsa join the Perseus Telecom global network. As Perseus Telecom looks to bring more value to investment communities at different corners of the globe, markets like Latin America, led by Brazil and Mexico, are important to us and our customers. CI Casa de Bolsa coming on-net is a testament to our commitment to these markets.”

Source: Perseus Telekom, 07.01.2013

Filed under: Mexico, Trading Technology, , , , , , , , ,

ATG taps Nyse Technologies for ATS Brasil

Americas Trading Group (ATG) today announced the formation of a new company that will develop a liquidity center targeting the Brazilian exchange market called Americas Trading System Brasil or ATS Brasil.

Utilizing trading solutions developed by NYSE Technologies, the technology unit of NYSE Euronext, ATS Brasil will offer customers a new equities matching platform in Latin America.

ATG will maintain the controlling interest as well as operational management of the company with NYSE Technologies as a minority shareholder and the core technology provider. ATS Brasil plans to begin operations in 2013, subject to approvals by the Central Bank of Brazil and the Brazilian Securities Commission (CVM).

Fernando Cohen, ATG´s President, believes that the entry of ATS Brasil will have a positive effect on the local stock market as it will contribute to expanding the range of products and services offered to investors in the region. Cohen also emphasized the importance of NYSE Technologies’ decision to expand into the Brazilian market by becoming a partner of ATS Brasil.

Cohen stated that initially ATS Brasil intends to operate in a model known as “the organized OTC market” based on computerization and transparency in order registration and execution, and adopt rigid mechanisms of self-regulation. He further noted that ATS Brasil was not created to compete with BM&FBovespa, but rather to complement it by improving liquidity and price formation for Brazilian assets.

“The entry of ATS Brasil starts a new cycle in the Brazilian exchange market. Our innovative, high-performance order execution platform will generate more liquidity for the capital markets. This initiative should stimulate cost reduction by offering efficiency gains for investors and create the real possibility of placing the Brazilian market within international standards,” said Fernando Cohen.

Dominique Cerruti, President and Deputy CEO, NYSE Euronext said, “As a leading operator of global markets and market technology, we have designed and deployed proven, market-tested trading platforms in key market centers around the world. We are pleased to partner with ATG ith ATG as they expand their business into equities matching with the ATS Brasil initiative. Our technology platform should provide customers and market participants with the same high-quality trading experience, performance and reliability that they’ve come to expect from NYSE Euronext’s own exchanges.”

ATS Brasil will use the Universal Trading Platform (UTP) developed by NYSE Technologies and used by NYSE Euronext’s global markets. UTP has the capacity to process high volumes of messages with very low latency, giving market participants the opportunity to submit thousands of orders per second while also improving market transparency and liquidity. Additionally, ATS Brasil is expected to attract new investors to the Brazilian market, including local and international high frequency traders. ATG will also utilize NYSE Technologies’ Secure Financial Transaction Infrastructure (SFTI) network to provide global access and direct market data distribution for customers trading outside Brazil. 

Source: FinExtra , 06.11.2012

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, Market Data, Mexico, Trading Technology, , , , , , , , , , ,

Alternative Latin Investor: Wealth Management Issue 18

The Alternative Latin Investor Issue #18 is focusing on Wealth Management in Latin America.

Special Issue: Wealth Management

The World’s First Diamond Fund
Lack of Transparency in Colombia: Root Causes
LatAm Wealth Management Overview
Private Aviation Takes Off in Latin America
High-Tech Financial Technology Hits LatAm

…and much more. Regulations,  Tax & Money Laundering, Structured Finance, Political Risks,  Agri Business, Impact Investment, Wine Investment, Infrastructure, Art

Please view and access Issue 18  in the following formats

Virtual Viewer http://www.alternativelatininvestor.com/Issue18-Preview.htm

For more details and information please view http://www.alternativelatininvestor.com

Source: AlternativeLatinInvestor 18.10.2012

Filed under: Argentina, Banking, BM&FBOVESPA, Brazil, Chile, Colombia, Energy & Environment, Islamic Finance, Mexico, News, Services, Trading Technology, Wealth Management, , , , , , , , , , , , , , , , , ,

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