FiNETIK – Asia and Latin America – Market News Network

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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, , , , , , , , , , , ,

NYSE Launches Data-as-a-Service

NYSE Technologies, the commercial technology division of NYSE Euronext (NYX) and First Derivatives, a provider of software and consulting services to the capital markets industry, are collaborating to create a new suite of historical data ‘as a service’ solutions.

Combining NYSE Technologies’ historical and real-time data expertise covering cash, options, futures and corporate actions with First Derivatives’ products and market expertise, the Tick as a Service offering will build into a suite of innovative market services for clients to gain efficient access to large data stores for analytical back testing and compliance.

“By integrating First Derivatives’ suite of services with our diverse portfolio of technology solutions, including our consolidated feed service, we can offer comprehensive data collection, storage, and analysis ‘as a service’ to our entire global trading community,” said Jon Robson, CEO, NYSE Technologies. “This new service will allow participants to move from a client deployed to managed service for the storage, support and delivery of tick history infrastructure to back-test their algorithms and interrogate their data through a flexible, fully-managed solution.”

The Tick As A Service is the first of a number of historical data solutions NYSE will offer.

“Our collaboration with NYSE Technologies will deliver substantial benefits to clients – improving time to market while efficiently minimizing operational overhead and reducing costs,” said Brian Conlon, CEO, First Derivatives. “I am delighted that First Derivatives is forging a relationship with one of the most capable service providers in the global capital markets community who understand that the community needs managed solutions to address commoditized services and thus release capital for differentiating opportunities.”

NYSE Technologies offers a diverse array of products and services to the buy side including order routing, liquidity discovery and access to a community of over 630 broker-dealers and execution destinations globally; and to the sell side, including high-performance, end-to-end messaging software and market data products; and market venues and exchanges, including multi-asset exchange platform services, managed services and expert consultancy.

NYSE Technologies’ technology portfolio includes a broad array of real-time, historical and reference data alongside the capital markets community cloud, a hosted consolidated feed service (SuperFeed), and one of the world’s largest FIX-based order routing networks (Marketplace), all available across the Secure Financial Transactions Infrastructure (SFTI) network.

First Derivative’s flagship Delta suite of products include Delta Flow, Delta Data Factory, Delta Algo, Delta Margin and Delta Stream which are used in high volume, low latency environments. Combining key elements of each company’s product sets and unique functionality, NYSE Technologies and First Derivatives will develop a one-of-a-kind solution delivering an innovative suite of high-performance services that enhance real-time trading, CEP, market data and trading applications.

Source: NYSE Tech, 18.09.2013

Filed under: Data Management, Data Vendor, Market Data, , , , , , , ,

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, , , , , , , , , , , ,

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 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, , , , , , , , , , , , , , , , , , ,

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, , , , , , ,

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, , , , , , , , ,

Colombia:Interbolsa joins Raptor network

Raptor Trading Systems Inc, an industry leading provider of advanced trading platforms and services for global financial institutions, has announced that Interbolsa S.A. SCB. is now a client of Raptor’s trading services group as well as a member of Raptor’s advanced network.

As the leading brokerage in Colombia, the addition of Interbolsa provides another strategic addition to Raptor’s extensive Latin American Network. Raptor provides a low latency, flexible network with DMA access to key exchanges and brokers across the region, including Bolsa de Santiago (BCS) and BMF Bovespa.

Andres Uribe Director Of Electronic Trading Interbolsa S.A. SCB., said: “This is an excellent opportunity for a leading brokers such as Interbolsa to have access to a global network which is supported by a flexible and advanced service such as Raptor. Interbolsa S.A. SCB. can now extend its reach globally through its partnership with Raptor and has immediate access to a broad network of institutions which can be leveraged for mutual benefit.”

Raptor has built an extensive network in the Latin American Region and actively works with clients to effectively leverage their global relationship and technology for maximum benefit. Teddy Lardos, CEO of Raptor Trading Systems, said: “Working with leading brokers and exchanges in the region provides an excellent opportunity for firms to access global liquidity in an efficient and cost effective manner. Given our strong presence in North America and the growing overlaps in listings between Colombia and North America, we are quite excited to work with Interbolsa and to provide a truly advanced service through are partners in the region.”

Raptor’s extensive Latin American network effectively complements its global network and trading offerings. The Raptor network provides global access to and from the Latin American region and enables clients to leverage Raptor’s advanced trading platforms and services. As one of the largest connectivity providers globally Raptor on average oversees 2.2 billion shares routed through its network each day. Raptor’s offering is differentiated by the flexibility provided by its platforms and an unmatched focus on client service.

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

Brazil: Perseus Telecom acquires ETradeLab Brazilen Trading Tech Co

Perseus Telecom, a global connectivity provider, today announces the acquisition of ETradeLab, a Sao Paulo-based financial technology provider of hosting, managed connectivity, order routing and trade monitoring support. The purchase comes at a time of global demand for efficient trading systems with low-latency connectivity and local support models suited for banks, hedge funds and proprietary firms.

The joint company expects to add significant value to its services by tightly integrating them. Combining ETradeLab’s hosting solutions with Perseus’ ultra-low latency networks will provide cost effective, efficient and valuable network solutions for its customers. Anticipating and responding to innovative demands while having pricing sensitivities further led to this agreement.

“Our purchase of ETradeLab shines light on the accelerating market growth in Brazil, Peru, Chile, Panama and Colombia where capital markets require ultra-fast, reliable connections to mitigate risk and to provide worldwide reach,” states Dr. Jock Percy, Chief Executive of Perseus Telecom. “Incorporating ETradeLab into our brand was an easy decision given its expertise in the market and trade monitoring services.”

Effective immediately, Marcos Guimarães, founder of ETradeLab, is President of Perseus Telecom, Brazil. “It is a thrill to be part of Perseus Telecom’s top-tier management team. Perseus brings innovation and high performance networks at fair prices due to its strong portfolio that allow customers to increase revenues while reducing operating costs,” states Guimarães. “The LATAM region’s continuing market growth requires such building blocks for optimum time-to-market and even faster development; Perseus has the DNA to deliver them allied to ETradeLab’s local market knowledge. I’m ready for the challenge and can’t wait to start working with our customers.”

The expansion of Perseus’ Brazilian presence follows its recent Global Telecoms Business award for “Best Innovation,” related directly to building the fastest connectivity from London to BM&F BOVESPA, Brazil. Prior to the award, Perseus announced the fastest route to BM&F BOVESPA with its strategic partner GlobeNet.

“Our recent announcements and awards with regards to Brazil and South America have indicated the firm is taking a permanent and local stake in the region and we have done this with the valuable acquisition of ETradeLab,” says Percy. “We welcome Marcos Guimarães as President of Perseus do Brazil and will continue our path of commitment to providing the lowest latency networks globally whilst delivering intelligent and cost efficiencies.”

Source: LowLatency.c0m, 12.09.2012

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

Brazil:CMA – The Latin American Market Data and Trading Company offers Direct BM&F BOVESPA Connectivity

July 30, 2012– New York, NY (USA) and São Paulo(Brazil) – Latin American trading services provider CMA Inc. http://www.cma.net, has announced a new delivery method for direct BM&F and BOVESPA market data and trading connectivity for International firms.

CMA has been providing BM&F and BOVESPA market data for over thirty five years to the trading community of Brazil. It now has leading exchange trading software services in Spain, Mexico, Colombia, Peru, Argentina and Chile with 20,000 subscribers worldwide. Today, CMA’s platforms such as CMA Series 4 have been rolled out on an impressive network called “CMA Redes Digitais.” The Redes Digitais  infrastructure is installed and directly connected within the exchange’s datacenter for the lowest possible latency.

Today’s announcement by CMA represents the launch and deployment of a directly connected infrastructure at the BM&F BOVESPA in São Paulo, Brazil with the CMA datacenter in New York. Companies can now co-locate their routers and servers with CMA at the BM&F BOVESPA datacenter or chose to receive the raw market data over CMA’s multi-gig private lines which terminate at CMA’s datacenter in New York City. The offering was developed to help firms trading with counter parties in São Paulo or for going directly to the exchange’s trading systems in a Direct Market Access (DMA) fashion.

 Many firms need to bring market data back to the USA and in return send trades messages to the exchange in Brazil. In both cases planning, paperwork and relationships are needed in order to complete the set-up. CMA is a certified exchange vendor able to help participants with the required documentation needed by the exchange to receive market data and to send trade messages. CMA also provides the relationships and connectivity to Brazilian brokers who can handle orders for foreign firms.

 “CMA’s market visibility as a prime vendor of the exchange and to 90% of the exchange’s broker dealers allows for our customers to be installed, up and running and trading as fast as possible,” Mario Chuman, General Manager of CMA commented. “International firms rely on us to help them with both exchange and broker connectivity, enabling market data and trading right from our switches in São Paulo which are now directly connected to our New York datacenter.“

 CMA is utilizing the fastest Trans Atlantic cable systems available, giving connectivity managers the security they require for proper networking, the lowest possible latency for competitiveness, multi-market/asset availability and an array of choices in being able to do so. Connectivity managers can now expand their market reach with CMA as they look to join both the BM&F BOVESPA Equities and Futures markets at roughly 50% lower IT and communications costs than other offerings which generally only provide one feed stream and one market at a time. CMA’s solution is the most cost effective, fastest and easiest way to implement an electronic trading solution for Brazilian securities.

Source, CMA, 30.07.2012

Filed under: Brazil, Data Vendor, Exchanges, Market Data, Trading Technology, , , , , , , , , , ,

Fidessa explores the development of electronic trading in Latin America

Fidessa group plc , provider of high-performance trading, investment management and information solutions for the world’s financial community, has today announced the publication of a white paper, Life in the fast lane: the development of electronic trading in Latin America. The paper explores the current trading landscape in Brazil, Mexico and the Andean region, and how recent technology and regulatory developments will affect domestic and international brokers trying to establish a rewarding position in these fast-paced markets.

White paper looks at market growth and trading technology in Brazil, the Andean region and Mexico

To highlight the unique trading conditions, market challenges, technology and regulatory changes shaping each market, Fidessa’s white paper considers specific regions in Latin America individually: from the extreme growth of Brazil as a strategic trading destination, to upgrades being made to Mexico’s trading infrastructure as well as the Andean region’s efforts to boost liquidity and exploit economies of scale. The paper explores the challenges presented by Latin America’s varying stages of growth as an electronic marketplace and concludes that flexibility, agility and scalability will be key attributes of the technology solution.

Alice Botis, Fidessa’s Head of Business Development in Latin America comments: “Latin America is attracting significant interest from global market participants and this shows no signs of stopping. Brokers are looking at the unique benefits each country has to offer and are taking the necessary steps to gain a presence in multiple locations across the region, in financial centers such as Brazil, Chile, Colombia, Mexico and Peru. Each country retains its unique style of trading, so it is important for buy-side and sell-side firms to understand how the marketplace is evolving in each region within Latin America and how those developments fit in with their local and global trading strategies.”

Source: Bobsguide, Fidessa 12.07.2012

Filed under: Brazil, Chile, Colombia, Latin America, Mexico, News, Peru, , , , , , , , , , , , , , , , , , , ,

Brazilian Markets Still Driving Low-Latency Connectivity

The Brazilian financial markets – with the Sao Paulo-based BM&F BOVESPA securities market in particular – continue to drive activity among connectivity and infrastructure providers looking to support trading firms looking to take advantage of trading opportunities in a hot market.

Most recently, GlobeNet – which operates a submarine cable from Nasdaq’s Carteret, NJ data centre to BM&F BOVESPA with 106 milliseconds of round-trip latency – reported that is has built out its own network infrastructure within Sao Paulo, connecting in to Florencio de Abreu, 195, a connection point for the exchange.  Previously, it relied on third party telecom providers for the leg within the city.  The new link gives it more control and faster implementation of customer connections.

Meanwhile, Sidera Networks is looking to the future by purchasing bandwidth on Seabras-1, a new 32 Tb/second submarine cable, being built by Seaborn Networks, linking Miami, FL to Sao Paulo.  The network – which Seaborn execs say will be the fastest route, but they are not saying yet by how much – is expected to be operational in the fourth quarter of 2014.  Seaborn execs also say connectivity from Miami to the New York City metro area will also be announced in due course.

Also, back in April, Thomson Reuters opened an Elektron Hosting and Managed Services centre in Sao Paulo, to provide low-latency access to BM&F BOVESPA.

Source: Low-Latency, 12.06.2012 Peter Harris

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

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