Mobile institutional trading – Its time has come


Despite mobile trading has long been the accepted norm in the retail trading space, banks have been slow to embrace mobile trading for their corporate and institutional clients, with most citing security and compliance concerns.

There have been some exceptions, like JP Morgan’s MorganDirect/Mobile and Deutsche’s Autobahn/mobile which permitted institutional and corporate clients to view live rates, access research see econ calendars, and modify existing orders and are now tentatively allowing trading.

However, with the backdrop of Continue reading

Single-Dealer Platforms evolve and remain relevant


The evolving global regulatory landscape is fundamentally changing how banks operate, the returns available, the business lines and markets in which they can effectively compete, and the way in which they interact with and service their clients via their Single-Dealer Platforms.

For example, under Dodd Frank, standardised swaps trading with clients will migrate from OTC bilateral trading, over to regulated venues such as SEFs. This will see the value proposition and revenue generated for banks likewise shift from a Continue reading

New Canadian exchange will not allow HFT access


Over the past year we have seen a number of platforms in the OTC space change their rules in order to “create a more level playing field for participants”, to ensure they are not disadvantaged by those with ‘high speed trading platforms’ – ie the High Frequency Trading (HFT) firms.

Now a new Canadian stock exchange being launchedAequitas Innovations Inc‘ that will not permit high-frequency trading! Press release here and more background info here

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Caplin Systems lead sponsor at APTAS Conference


Caplin is proud to be the lead sponsor for the Asia Pacific Trading Architecture Summit held at the Regent Hotel in Singapore on June 27.

Patrick Myles, Caplin CTO, will present a white paper titled “HTML in 2013 – Where now?”

Caplin’s booth will feature the latest FX Motif, Bladerunner and Multi-Asset trading solution.

For a complimentary pass, please email me at Randy.Hebert@Caplin.com

We look forward to seeing you there!

http://events.waterstechnology.com/aptas/static/home

Panoptican sold to Datawatch – another Big Data play


Datawatch Corporation, the provider of information optimization solutions, has agreed to acquire Panopticon Software AB, a privately held Swedish company specializing in the delivery of real-time visual data discovery solutions.

Panoptican Software provide high performance real-time visual data discovery to speed up business processes. used in many areas with Cap Markets, and in a number of trading platforms to visualise market sector performance, and in FX for liquidity visualisation. (demo site here).

Michael A. Morrison, President and CEO of Datawatch, said:

“This acquisition will immediately benefit our combined customers, partners and prospects by allowing them to accelerate the development and deployment of solutions that use the wide variety of data formats and sources present in every organization.

…..Our collective capabilities to address Big Data opportunities are vastly improved with the high velocity access enabled by Panopticon’s real-time visual data discovery solution and the variety of data sources and formats that can be transformed by the Datawatch Information Optimization platform.”

So, another Big Data play, following last weeks sale of Streambase to TIBCO and Apama to Software AG.

Full story on Panoptican  here

The Evolution of Executing Futures – Part 2


Part 1 looked at the history of executing futures leading up to the beginning of this century. This part will have a look at some of the technologies that were introduced during my time on the trading floor over the last decade, as well as some advancements that have been presented since I joined Caplin.

Auto Spreaders

As a spread trader, I was required to enter long and short positions on two or more contracts at the same time. The ‘hedged’ positions alleviate the risks of outright positions and allow one to take views on the widening direction of the spread between two or more markets without necessarily having a view on their underlying direction.

Continue reading

Caplin Partners with OpenFin


Caplin today announced a partnership with US-based OpenFin .

The partnership will accelerate the adoption of HTML5 for development of high-performance trading applications, by providing an integrated solution that combines Caplin Trader, a complete development suite for HTML5 trading front-ends, and OpenFin App Desktop, a secure application container based on Google’s Chromium open-source technology.

The partnership addresses two challenges faced by financial developers when building HTML5 applications.:

1. Many end-users in financial institutions run Internet Explorer browsers which are not HTML5 compliant, requiring applications to fallback to HTML4.

2. Native applications have traditionally been able to provide better user experience including the ability to tear-off panels, pop-up windows, deliver push notifications and seamlessly integrate with local applications such as Microsoft Excel.

The joint solution addresses these issues by enabling HTML5 applications to run outside-the-browser with the same user experience and capabilities as native, installed applications, as was discussed here in a post looking at Thick client? Thin client? Or in-between?

Press Release here

Structured Products: An ideal niche for single-dealer platforms?


At Caplin we are involved in single-dealer platforms (SDPs) touching many asset classes across the OTC and exchange traded space. The biggest single asset class we see is cash FX – many banks are rolling out offerings in this area right now. But we are also seeing increasing interest from institutions who want to provide niche Structured Products offerings, and I think this is a real sweet spot for delivering innovative SDPs.

By way of background, there’s a feature in Structured Products magazine, which sadly requires a full subscription to read it (trial subscriptions don’t work): Structured Products and Single-Dealer Platforms – Why?
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This week’s buzzphrase: Financial AppStore. But what is it?


It’s funny how fast memes take root in the collective consciousness. From lolcats (why??) to Fenton/Benton (if you’re British) to dancing like a Gangnam jockey (1.3bn views and counting) — one day they’re nowhere, and the next they’re part of the landscape.

In the rarefied world of single-dealer platforms, the meme du jour is Financial AppStore. First sighted (I think) in the form of the Deutsche Bank App Market a year and a half ago, in the last six months it has become a seriously buzzy phrase among banks looking for an e-commerce edge.

The problem is, though, that while a lot of banks seem interested in having a Finanical AppStore, no two of them Continue reading

ICAP sells stake in Traiana to banks


The FT carries news that ICAP has sold an initial 12% stake (plus option on further 20%) in its post-trade processing unit Traiana to seven of its largest bank customers.

We have noted before in our white paper on SDPs in a cleared world and also here and here, new regulatory mandates around execution, reporting and clearing will see the value proposition and profitability for many of the largest banks move downstream, from execution through to post trade processing (and infrastructure) capability. Scale, efficiency and connectivity being key components, which helps explain the interest in Traiana

As the article says:

The sale illustrates the growing importance to banks of a raft of new market infrastructure that are intended to improve market efficiency and cut counterparty risk and rising IT costs.

Full FT article here and ICAP Press release here

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