Posted on April 30, 2010 by Martin Tyler
There is a lot more to a Single-Dealer Platform than just a Comet Server, but it is still a key component and often one of the components bought in rather than developed in house. At Caplin we have dedicated much of our time to building what we believe is the Comet server that offers the best performance and feature set on top for building a SDP. Hopefully this post will explain why we believe this, and where you might have more work to do with the other products.
A Comet server allows an SDP to deliver prices and manage trading between a backend system and a browser client – although many will support other clients too. These days there are a number of choices for a Comet server, and more of them are realising that financial data is a great use case and targeting effort in that direction.
If you are choosing a Comet server for an SDP there are a number of questions you should be asking that will have a big impact on the amount of integration and other work you will have to do.
Filed under: Single-Dealer Platforms | Tagged: comet, single-dealer platform | Leave a comment »
Posted on April 26, 2010 by Paul Blank
An interesting comment in today’s FX Week, touches on the real-world challenges banks face when designing a new single bank platform.
Banks want to deliver a really great trading application to clients. One that combines the very best the bank has to offer in terms of timely pre-trade decision support tools such as research, streaming video, analytics, dealer chat, all wrapped intuitively around fast, executable dealable prices. What the bank definitely doesn’t want is for its shiny new GUI, crammed full of pre-trade ‘stuff’ to in effect swamp the client’s PC, making trade execution sluggish, or impossible for clients in poor band width locations, resulting in the bank having to disable one-click dealing, due to unacceptable latency.
Filed under: Single-Dealer Platforms, Technology Trends | Leave a comment »
Posted on April 19, 2010 by Jennifer Reid
Check out Mike Poston’s excellent (and thorough!) review of Silverlight 4 on the Platformability blog.
The post is entitled “Silverlight 4 – is it what banks want?”. It goes into a lot of detail on the business benefits Sliverlight 4′s new features could have for banks building single-dealer portals.
When examining Silverlight 4′s new pre-trade based features, Mike covers data aggregation, persistence and low latency rendering.
The section on the deal-capture based features covers trade ticket stability, batch trading, field formatting and input validation.
The post-trade based features covered include straight through processing and trade confirmation printing. There is also a final section that covers building applications with Silverlight 4 which specifically covers the new features that aid banks looking to build single-dealer portals.
Well worth a read.
Filed under: Rich Internet Applications, Single-Dealer Platforms, Technology Trends | Leave a comment »
Posted on April 15, 2010 by Paul Blank
Here is an interesting item about Reuters moving to the web.
This is a bold move by Reuters, although would be interesting to hear more about internet delivery, browser support and how they plan to handle latency issues (already talking about co-location of client servers). Streaming market data efficiently over the web is one thing, but managing real-time trade messages over the web using browers is another.
Anyone have any thoughts on how Reuters plan to support trading over the web?
Filed under: Web trading technology | 2 Comments »
Posted on April 13, 2010 by Paul Blank
What’s so great about internalising FX flows?
In an earlier blog article separating the men from the boys in global FX I touched on internalisation of FX flow. It’s worth looking again at why this is so important to banks that are building an eFX business.
By internalising flows, banks seek to internally match (uncorrelated) flows originating from clients, branches, internal prop desks, and market making hedge positions. Previously such positions would either have been auto hedged through an external venue, left as residual market maker risk positions, or dealt on another platform (lost business).
Filed under: FX, Web trading technology | Tagged: FX, Internalisation, SDP, single-dealer platform | 7 Comments »
Posted on April 12, 2010 by Jennifer Reid
Nomura to launch multi-asset trading onto its upgraded trading platform developed with Silverlight & Caplin Xaqua http://www.fxweek.com/fx-week/news/1600153/nomura-launch-multi-asset-trading
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Posted on April 8, 2010 by Jennifer Reid
Great article by Frances Maguire in this month’s e-Forex: Relationship e-trading: A new force entering the world of corporate FX? Frances interviews Takis Spiropoulos, managing director and head of the e-Solutions Group at CIBC World Markets who comments on the re-shaping of the traditional corporate FX landscape. Per Brugge from Nordea Markets comments specifically on single-dealer platforms. Click here to access the article.
Filed under: Web trading technology | 3 Comments »
Posted on April 6, 2010 by Jennifer Reid
If you speak to any head of foreign exchange (FX) trading today the first sentence they will utter, shortly after hello, will contain some form of military analogy. The talk will be of technological “arms races”, e-commerce “warfare” or “drawing up the battle lines” to win market share. The FX market is not just in a state of flux, but a state of open battle.
Once a purely phone-based market dominated by corporations hedging their currency exposures and banks’ proprietary trading, technological advances have led to an explosion in FX volumes. Click here to read more.
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