FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

Brazil:Inseed Investimentos selects eFront

EFront, a leading software provider of solutions for managing alternative investments, has signed a new Brazilian client, Inseed Investimentos, a prominent venture capital firm based in Belo Horizonte.

With over 40 companies in its portfolio, Inseed Investimentos has a strong track record of investing in innovative companies with high growth potential in the early stages of development. The company will be making use of eFront’s front-to-back integrated solutions to improve efficiency and investor relationships and structure its investment operations and fundraising activity.

The client win forms the latest chapter of eFront’s ongoing expansion into Brazil where it already provides solutions to the largest private equity firm in Latin America, GP Investments. In order to support these clients and the broader regional market eFront will be opening an office in Rio de Janeiro later this year. GP Investments has invested more than USD$5 billion across 15 different sectors, and as eFront’s cornerstone regional client is a big factor in the decision to expand.

Ayman Daif, Area Sales Manager of eFront, says “With Brazil’s fast-growing alternative investment market, this is an incredibly exciting time to make inroads into the region; over the past decade the Brazilian private equity sector has deployed over USD$22 billion in capital, and this is only accelerating. Private equity funds have played a key role in Brazil’s economic rise, helping to professionalize family-owned businesses, improve corporate governance and provide much needed growth capital.

eFront’s software solutions are designed to help general partners, limited partners and fund administrators automate and optimize all aspects of managing both investment and investors. For example, with eFront GPs can automate difficult and often error-prone tasks such as issuing capital call notices, managing investor allocations and fees, and closing financial periods.

Source: Finextra 30.07.2013

Filed under: Brazil, Latin America, Wealth Management, , , , , , , , ,

ITG launches Posit Alert for Mexican equities

ITG, a leading independent execution and research broker, today announced the launch of Posit Alert for Mexican equities, marking the 30th global market where Posit Alert is available.

POSIT Alert is a premier platform for sourcing large blocks of liquidity, actively alerting buyside traders to liquidity that matches orders on their trade blotter. Buyside traders use POSIT Alert to prevent information leakage on large orders, maximize their chances of finding liquidity and reduce market impact by matching at the midpoint with no need for negotiation.

In Mexico, POSIT Alert allows buyside traders to anonymously cross blocks of shares on the Bolsa Mexicana de Valores (BMV). POSIT Alert Mexico provides seamless block crossing opportunities without any human intervention, minimizing information leakage.

“The Mexican market can present challenges for the buyside in terms of sourcing block liquidity, particularly in thinner names,” said Eric Blake, ITG’s Head of Latin America. “The launch of POSIT Alert offers an efficient, cost-effective solution for trading Mexican equities.”

 Also commenting on the rollout, ITG’s Head of Electronic Brokerage, Jamie Selway, said, “our Mexican launch is an important addition to POSIT Alert’s global footprint, enhancing the block liquidity value proposition we deliver to buyside traders.” POSIT Alert is already a successful tool for buyside traders across North America, Europe and the Asia Pacific region, seamlessly connecting more than 550 trade blotters. POSIT Alert currently offers 1.1 billion shares of active, global liquidity on a given day in the US, with an average trade size in 2013 of 33,000 shares, compared to approximately 300 shares on US exchanges. In Canada, POSIT Alert trades average approximately 29,000 shares, while in Europe the average trade size is $1.1 million and in Asia Pacific it is approximately $300,000.

Source: Finextra 30.07.2013

Filed under: BMV - Mexico, Exchanges, Latin America, Mexico, , , , , ,

Perseus Opens Throttle on Award Winning New York to Brazil Exchange Network

  • Global Telecoms Business Innovation awarded fastest network from New York to Brazil increases in speed

  • Perseus customers see ‘Evergreen’ latency enhancements with CME, NYSE, Nasdaq OMX with BM&F Bovespa connection

NEW YORK and SAO PAULO – 24 July 2013 – Perseus Telecom, a leading global provider of ultra-low latency, high capacity networks from market-to-market, today announced it has made the company’s industry leading network between Nasdaq OMX in New York and BM&F Bovespa in Sao Paulo, 2.5 milliseconds faster than the already fastest recognized connection by the Global Telecoms Business Innovation Award in 2012.

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).

The Perseus SLA is a standard for all customers allowing them to enjoy the benefit of having one contract to negotiate the lowest latency routes with a given expectation that as a lower latency solution becomes available, the customer will benefit from the service enhancement at no extra charge.

Andrew Kusminsky, Chief Operating and Strategy Officer at Perseus said, “Optimizing our network to and within Brazil in an effort to keep our commitment to our customers is a part of a daily regimen for our team. We are committed to ensuring our network meets the performance requirements our customers demand.”

Brazil continues to surge in appeal for high performance trading from foreign institutions in the US, Europe and Asia participating in the markets of the BM&F Bovespa exchange. Financial markets are a major part of Brazil’s attraction for low-latency networks, but as Brazil hosts the world’s main attractions FIFA World Cup 2014 and the Rio de Janerio Olympics in 2016, there is increasing need to serve BIG data, real-time broadcast and digital media add to the driving need to have service providers meet lower and lower latency metrics.

“Perseus has taken all of the necessary steps through our operations unit in Brazil to ensure we meet the regulatory environments as a licensed facilities carrier,” Kusminsky added. “The Perseus connection from New York to Brazil is now optimized through custom built networks spanning from Fortaleza, Rio de Janeiro and on through Sao Paulo, ideal for trading, broadcasting and the movement of big data.”

 

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

Reference Data: Tech Mahindra Details Global Data Utility Based on Acquired UBS Platform

Tech Mahindra, a business process outsourcing specialist and parent of London-based investment management technology consultancy Citisoft, has repositioned a reference data platform acquired from UBS Global Asset Management to offer an offshore reference data utility aimed at meeting market demand for lower cost, high quality data that can reduce risk and increase efficiency.

The global data utility has been introduced under the Tech Mahindra Managed Data Services brand and offers securities reference data across all asset types, reference data for corporate actions, tax information and end-of-day and intra-day validated pricing data. The utility handles data cleansing and validation, with clients buying licences to access the data.

Tech Mahindra suggests the utility differs from other offerings in the enterprise data management market as it is owned by the company and can be developed. It is also agnostic on data feeds, including 20 from vendors including SIX, Markit, Bloomberg, Thomson Reuters and DTCC.

The company’s first customer is UBS Fund Services in Luxembourg. Under the terms of a five-year services contract with UBS, Tech Mahindra will create and store golden copy data and provide multiple intra-day golden copies to the asset manager. As part of the acquisition and customer deal, Tech Mahindra, which is headquartered in Hyderabad, India, will take on some staff from UBS Global Asset Management who were working on the platform in Luxembourg, but most staff will be located in India.

As a repositioned platform, Tech Mahindra MDS already covers all time zones, markets and asset types, updates 2.5 million issuers on a daily base, receives 200,000 customer price requests and validates 75,000 prices. Some 20,000 corporate actions are checked every day, along with 1,800 tax figures. Looking forward, Tech Mahindra plans to extend these metrics and add reference data around indices and benchmarks, legal entity identifiers and clients.

While Tech Mahindra will lead sales of the service to the banking, financial services and insurance sectors, Citisoft will be able to provide consultancy as necessary. Steve Young, CEO of Citisoft, says Tech Mahindra MDS has been designed to improve data quality and drive down the total cost of data ownership, in turn reducing risk and increasing efficiency. To manage clients’ cost issues, the company has built a toolkit into the data management system that allows users to analyse the cost of owning data, including people, processes and technology. Data quality will be underpinned by service level agreements and key performance indicators will be added as more clients sign up for services and data volumes grow.

Reflecting on the data challenges faced by financial firms, Citisoft Group CEO Jonathan Clark, concludes: “Outsourcing models have evolved over time and attitudes are changing as firms acknowledge that there is a big difference between outsourcing and offshoring, and that captive outsourcing is not an efficient approach. The need is for a commercial relationship with a centralised data utility that can deliver high-quality, accurate data and a lower total cost of ownership.”

Source: Reference Data Review, 24.07.2013

Filed under: Corporate Action, Data Management, Data Vendor, Market Data, Reference Data, Standards, , , , , , , , , , , , , , , , ,

Private banking in China finally taking hold

Considered one of the best retail banks in China, China Merchant Bank (CMB) has started their private banking business in 2007. At the end of 2012, CMB’s pre-tax profit from their private banking business reached 2.3 billion yuan. Other major banks in China have similarly increased their wealth management profit since 2010, when growth of the market really accelerated.

ICBC and BOC still have the largest private banking AUM among the top 5 while CMB has the most private banking centers to serve its HNWI customers. The high net worth customer segment (over 10M RMB in investable assets) is growing at 18% growth rate and reached to 700,000 by the end of 2012. It seems that banks have finally cracked the code and wealth management is set to grow in China.

Potential of private banking

Up coming Webinar on Banking and Risk Management in China on August 7th, 2013.

Source: KapronAsia, 18.07.2013

Filed under: Banking, China, Wealth Management, , , , , , ,

Chile: Comder to launch Central Counterparty next year with Calypso clearing solution

A consortium of Chilean banks is forming a new central counterparty (CCP) next year for over-the-counter (OTC) derivatives. The Comder CCP has selected Calypso to provide the core clearing platform for the new launch which will enable compliance with the post-crash rules laid out at the Pittsburgh G20 mandating more transparency and effectively ‘on exchange’ clearing.

The new Comder CCP will begin clearing non-deliverable forwards (NDFs) in Q4 2014 and interest rate derivatives (IRD) in Q1 2015. The CCP will be powered by Calypso with its platform providing legal novation, affirmation, registration, limits, initial and variation risk margins, collateral management data, and default management and centralised trade repository storage and reporting.

According to Felipe Ledermann, the chief executive of Comder, Calypso was chosen for its experience in OTC derivatives central clearing. Comder will receive on-going maintenance and support from the vendor after the platform is rolled out next year.

“We see Calypso as a strategic partner for one of the most important projects in the Chilean banking industry,” continued Ledermann. “This initiative allows us to build a best-in-class CCP with the highest standards and align with BIS-IOSCO principles for market infrastructures.”

Calypso already provides OTC derivatives clearing and processing infrastructure and technology to leading clearing houses, such as the Chicago Mercantile Exchange (CME), Eurex, BM&FBovespa, the Tokyo (TSE) and Singapore exchanges (SGX) and Hong Kong Exchanges and Clearing (HKEX). The Calypso clearing solution provides full cross-asset coverage, manages each step in the clearing process and delivers visibility into risk for cash and OTC derivatives products, claims the vendor. The single platform should also be scalable if Comder attracts significant volumes.

Commenting on the deal, Kishore Bopardikar, president and chief executive of Calypso Technology, said he was excited to provide a solution that will enable the Chilean market to move towards a centrally cleared derivatives environment, adding that “we are pleased to be supporting the development of such an important platform for the country”.

Source: Bobsguide, 23.07.2013

Filed under: Chile, Latin America, Standards, , , , ,

VAM:Vietnam Market Analysis June 2013

Vietnamese stocks fell sharply in June on high redemption pressure from foreign investors, currency depreciation and growth concerns. At the end of Jun, VN-index closed at 481.1, slipping 7.19%, in line with the 7.45% decrease of VN30 whilst the HNX index declined 2.87%, closing at 62.76.
 
National Assembly meeting ended with concrete achievements
One month discussion of the National Assembly resulted in many positive achievements to revive the economy. First of all, political environment looked more stable as top leaders successfully completed the first ever confidence voting round with no member needing a second vote. Secondly, the Government has shown their determination to restructure the economy through concrete resolutions. Accordingly, the government announced that from 2H 2013 there might be VND 40 trillion (nearly USD 2bn) to be disbursed each month to maintain credit growth at 12%. Besides, the National Assembly agreed to cut corporate income tax from 25% to 22% in 2014 and further to 20% in 2016 for all firms whilst for SMEs, tax is cut to 20% as soon as 1/7/2013 in an effort to spur growth. 
 
Dong devalued due to many pressures
The SBV devalued the Dong for the first time since 2011 after recent tension in the FX market. Thereference rate was weakened by 1% to 21,036 dong per dollar. Given the current trading band of +/-1%, the ceiling and floor exchange rates are now VND 21,246/USD, and VND 20,826/USD, respectively. The current stress in the FX market should be due to i) high official demand for gold imports from commercial banks to close their short positions by end June as requested by SBV, plus the unofficial import demand due to big gap between local and international prices, ii) narrowing gap between the USD and VND deposit rates after a recent VND deposit rate cut, iii) expansion of trade deficit, and iv) asset unloading of foreign investors in emerging markets as the US Fed has announced to wind down QE recently.
 
Production continues to be sluggish
Low appetite for local consumption and tightening export markets such as China (-1.9% y-o-y) and Japan (-0.9% y-o-y) has led production activities to face a marked downturn in June. Indeed, the HSBC Manufacturing Index tumbled to 46.4, the 11-month low level, in the second consecutive month of contraction. In general, the economy expanded 4.9% y-o-y in the first six months, which is a small improvement compared to that of 4.38% y-o-y a year earlier.
 
Inflation under control and more rate cuts to bolster growth
As inflation in June was merely 6.69% y-o-y, which slightly increased compared to the 6.3% y-o-y recorded in May, another move in monetary adjustment came from rate cuts to help stabilize the foreign-currency market as well as revive production. Accordingly, the ceiling rates for USD deposit will be cut to 0.25% pa (from 0.5%) for institutions, and to 1.25% pa (from 2%) for individuals whilst those with VND deposits with maturity ranging from 1-month to less than 6-month will be curtailed to 7% pa (down from 7.5%). As domestic consumption persists at low levels and companies’ ability to absorb bank loans remain limited, a rate cut is necessary to support growth besides other implementations such as a tax cut program and a loan stimulus package for the real estate market.
 
Our ViewThe first half of 2013 has been focused on curbing inflation to stabilize the macro environment. Fortunately, the situation is not as dire as CPI is positively under control, which leaves room to consider more drastic measures to boost growth. The interest rate is now at its lowest and unlikely to face more cuts while the Dong devaluation is essential in order to reduce tension in the FX market. Although recent currency depreciation is rather worrying, we do not think of it as distressing because pressure on the currency will start easing as the foreign reserve remains healthy. The target of 2-3% currency volatility setting from the beginning of this year by the Governor is likely to be met. Accompanied by recent adjustments in monetary policy, other efforts, namely tax cut and stimulus package are expected to accelerate the economy in the second half of this year. In the meantime, we continue to hold and pick stocks that we have strong conviction in based on the resilient business model, solid balance sheet, sound cash flows, prudent management and attractive valuation. We also maintain careful watch on government policy changes to take action when there are clearer signs of economy turnaround

Filed under: Uncategorized, , , , , ,

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, , , , , , , , , ,

Avaloq announces going live of Avaloq Banking System at Moroccan investment bank CFG Group

The Avaloq Group, the international reference for integrated and comprehensive banking solutions, together with its partner Orbium, announces the launch of the Avaloq Banking System at CFG Group in Morocco. Twenty months after choosing this innovative solution, the bank draws positive conclusions regarding the implementation.

CFG Group has chosen all modules of Avaloq’s universal front-to-back banking platform, which ensures in particular the seamless integration of the securities modules with the cash modules. “Avaloq’s excellence in private banking as well as numerous references from its community dispelled any doubts we might have had about our choice. Moreover, we had already tried out the solution’s adaptability that enables us to customise and develop new operational business models. This further confirmed that we made the right decision”, says Younès Benjelloun, CEO of the CFG Group.

Based in Casablanca, CFG Group is an independent investment bank providing the full spectrum of investment banking services: corporate financing, capital market transactions, portfolio management, and venture capital. It aims to offer a wide range of value-added services to its private clients.

This demanding project was managed by Avaloq’s Premium Implementation Partner Orbium and brought about a genuine revolution within the bank. CFG Group replaced every IT system across all its business processes with the Avaloq Banking System, from accounting to finance operations, payment transactions, credits and the entire securities value chain, one of Avaloq’s areas of special expertise. All online stock exchange transactions are processed via the e-banking platform “e-services” by Avaloq’s partner Swisscom IT Services.

In addition, the implementation of the multi-entity capable Avaloq platform has enabled reorganisation measures at CFG Group by consolidating banking activities and distribution services for private clients within the CFG Group bank.

Source, Avaloq 10.07.2013

Filed under: Banking, Wealth Management, , , , , ,

Data Management – a Finance, Risk and Regulatory Perspective- White Paper

Download this  white paper – Data Management – a Finance, Risk and Regulatory Perspective – about the challenges facing financial institutions operating across borders with respect to ensuring data consistency and usability across multiple user types.

 The finance, risk and compliance operations of any financial institution need nimble access to business information, for performance measurement, risk management, and client and regulatory reporting. But although the underlying data may be the same, their individual requirements are different, reflecting the group-level view required by senior management and regulators, and the more operational view at the individual business level.

Where in the past, risk managers have been left to figure out what’s most appropriate for their particular institutions, regulators today are adopting a more aggressive stance, challenging the assumptions underpinning banks’ approaches to risk management. As a result, today’s challenge is not only to understand the current regulatory, risk or finance requirements, but also to set in place the analytical framework that will help anticipate future requirements as they come on stream. To find out more, download the white paper now

Full text and downloads available to members only, please log in or become a member to view premium content and attached documents.  Becoming a member of the ReferenceDataReview.com community is free and easy – just click the link below.      
Source: A-Team, 02.07.2013

Filed under: Corporate Action, Data Management, Library, Reference Data, Risk Management, Standards, , , , , ,

LEI-Dealing with Reality – How to Ensure Data Quality in the Changing Entity Identifier Landscape

“The Global LEI will be a marathon, not a sprint” is a phrase heard more than once during our series of Hot Topic webinars that’s charted the emergence of a standard identifier for entity data. Doubtless, it will be heard again.

But if we’re not exactly sprinting, we are moving pretty swiftly. Every time I think there’s nothing more to say on the topic, there is – well – more to say. With the artifice of the March ‘launch date’ behind us, it’s time to deal with reality. And the reality practitioners are having to deal with is one that’s changing rapidly.

Down load full and detailed report.

LEI-Dealing_with_reality-how_to_ensure_data_quality with Entity Identifiers_06_13.pdf

Source: A-Team, 26.06,2013

Filed under: Data Management, Data Vendor, Library, Reference Data, Standards, , , , , , , , , , , , , , ,

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, , , , ,

Valuations – Toward On-Demand Evaluated Pricing

Risk and regulatory imperatives are demanding access to the latest portfolio information, placing new pressures on the pricing and valuation function. And the front office increasingly wants up-to-date valuations of hard-to-price securities.

These developments are driving a push toward on-demand evaluated pricing capabilities, with pricing teams seeking to provide access to valuations at higher frequency of update than before.

Download this special report for FREE now! Click the link below.

Source: A-Team, 26.06.2013

Filed under: Data Vendor, Library, Market Data, Reference Data, , , , , , , ,

B-Source (Avaloq Group) takes over Wealth Management Operations of Back-Office of Deutsche Bank (Switzerland)

Avaloq subsidiary B-Source is taking over operational responsibility for the Wealth Management Operations Back-Office of the Deutsche Bank (Switzerland) Ltd with effect from July 1, 2013 and supports the bank in further concentrating on its core business.

With effect from July 1, 2013, B-Source, a member of the Avaloq group, is taking over operational responsibility for the Wealth Management Operations Back-Office of Deutsche Bank (Switzerland) Ltd, including 80 employees in Geneva. Transformation of the core-banking platform to the integrated Avaloq Banking Suite is scheduled for summer 2014.

Markus Gröninger, CEO of B-Source, said: “Our continuously increasing community corresponds clearly to our growth path. This confirms us to be on the right track with our strategy of offering highly industrialised services that let banks concentrate on their core business and generate future growth.”

Francisco Fernandez, CEO of Avaloq, is also very pleased with the new deal: “In migrating to the integrated Avaloq Banking Suite, our clients are setting the highest standards in terms of individualising processes and industrialising operations. We love challenges like that. This is how we generate maximum added value for our clients.”

Source: Avaloq 28.06.2013

Filed under: Data Management, Reference Data, Wealth Management, , , , , , , , , , ,

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, , , , , , , , , , ,

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