This Week: Trading Technologies, Deutsche Borse, SS&C-Canoe, TNS, Clearstream-LCH, S&P, Refinitiv, Sterling TT

Brokers Prep TT OMS Rollout

Inter-dealer brokers TP Icap and BGC plan to roll out Chicago-based Trading Technologies’ (TT’s) upcoming order management system (OMS) to all its brokers around the world, enabling them to use the system’s advanced order handling and post-trade allocation components to optimize their trade executions and reporting. TP Icap will replace 85 trading screens in the London, Paris and New York offices of its Institutional Services division, while BGC is expanding an existing relationship under which the broker already uses TT’s execution management system. The OMS includes features such as FIX integration; support for high-touch workflows; pre-execution multi-broker allocations; post-trade multi-account allocations; custom and scheduled client recap reporting; order passing, importing and execution sharing; alerting and monitoring tools, and error handling; aggregated positions and order book for real-time risk management; and an integrated surveillance solution, TT Score.

Deutsche Börse Debuts A7 Analytics Platform

Deutsche Börse has unveiled its A7 cloud-based analytics platform, which provides historical data from its Xetra equities and Eurex derivatives markets, along with other information, to provide market insights that can help optimize trading and develop and test execution algorithms. The data available via the A7 platform includes full-depth order book data, market data messages, reference data, and other sources of information, all hosted by the exchange to eliminate firms’ need to store the data in their own data warehouses.

SS&C, Canoe Partner to Ease Alternative Investment Data Extraction for Investors

Clients of SS&C Technologies’ Black Diamond wealth platform will be able to automate the capture of data on alternative investments under the terms of an agreement with New York-based Canoe Intelligence, a provider of technology for extracting data and insight from documents and processes, to convert PDFs into formats compatible with Black Diamond, reducing the need for wealth managers and institutional investors to manually extract data. This also reduces the risk of processing errors.

Canoe will also provide capabilities for integrating its tools with SS&C’s Advent Portfolio Exchange, Axys, and Geneva systems.

TNS Adds Cboe Data to Network

London-based network provider Transaction Network Services has become a registered vendor of European equities market data from Cboe Europe. The vendor will provide connectivity to its services at Cboe’s European datacenter, located within Equinix’s LD4/LD5 datacenter campus in Slough, delivering low-latency access to market data and order routing.

Clearstream, LCH Create Clearing Link

European clearinghouse Clearstream and the London Stock Exchange Group’s LCH clearing business have established a clearing link that will allow customers to settle LCH-cleared equities contracts on Clearstream. The clearing agreement covers global depository receipts, as well as internationally settled exchange-traded products, including exchange-traded funds, exchange-traded notes, and commodities. Clearstream officials say the move will create greater support for increased interoperability across the European post-trade landscape, and that the organization plans to add connections to more clearinghouses in the near future.

S&P Debuts New Credit Risk Data Reports

S&P Global Market Intelligence has begun publishing Global RiskGauge Reports, which provide detailed and customizable credit risk views of more than 50 million public and private companies worldwide, to identify the “hidden risks and creditworthiness” of private companies, especially small and medium-sized enterprises, for which differing filing requirements, timelines, availability and data quality can make it hard to find financial information. Some of the analytics included in the reports include a RiskGauge Score that combines other S&P probability of default (PD) scores; PaySense, which identifies a company’s payment behavior and potential liquidity risks; MaxLimit, which recommends maximum exposure limits; Company Profile; PD Fundamental Commentary, which provides commentary and analysis of key risk drivers; Relative Performance, which benchmarks a company’s risk performance against peers; and Expanded PD Framework, which calculates a company’s probability of default in the absence of company financials.

Refinitiv Debuts Lipper ESG Scores

Refinitiv has launched Lipper Fund ESG Scores, which combine the vendor’s environmental, social and governance (ESG) coverage of more than 9,000 companies (representing more than 80% of total global market capitalization) with data from subsidiary Lipper’s fund universe, and Refinitiv’s proprietary scoring methodology, to create a new metric for sustainable investing. The scores allow investors to compare fund managers, advisors and investors at the fund level, by creating scores for more than 19,000 portfolios, representing $15.7 trillion in assets. They measure performance, commitment and effectiveness across 10 main themes, including emissions, environmental product innovation, resource use, workforce diversity and inclusion, human rights, community, product responsibility, management, shareholders, and CSR strategy.

Sterling Makes Simulator Available to Youth Finance Program

Cross-asset trading platform vendor Sterling Trading Tech has committed to providing training tools to Wall Street Bound, a non-profit organization dedicated to mentoring and educating urban and minority youths to prepare them for careers in financial services.

Wall Street Bound’s program provides 250 hours of stock and options trading training, and more than 100 hours of training on currency trading, using Sterling’s trading simulator to replicate “real-world” trading conditions for equities and options. Once participants have completed the training, they receive access to live risk capital trading accounts via Maverick Trading, which is also a partner in the Wall Street Bound program.

“We believe that by teaching the technical skills of equity and data analysis, algo development and trading, we can empower underrepresented young adults to aim beyond their present horizons and embark on fulfilling careers as finance and professionals,” says Troy Prince, founder and CEO of Wall Street Bound.