In addition, Charles River, NICE and Speakerbus have FinTech News.
Dash Financial Debuts a Transparency Portal
An agency broker-dealer, Dash Financial has launched DROP360, a real-time, drop-copy facility that provides transparency into “order routing behavior, execution behavior, costs and performance” for options and equities, and relays the information in a machine readable format that uses the FIX electronic trading protocol.
Essentially, the DROP360 service is a web-delivered HTML5 transparency portal that features the Order Visualizer, which uses animation to visualize order routing decisions and the resulting best execution performance, Dash officials say.
“Our clients have continuously benefited from having visibility into the significant work our algos and routers do on their behalf,” says David Karat, co-founder and chief marketing officer (CMO) for Dash Financial, in a prepared statement. With DROP360, the company hopes that clients will get “a full understanding of what the results were and why,” Karat says.
Dash’s offerings target in-house best execution analysis, compliance and storage issues for the institutional buy-side community, says Peter Maragos, co-founder and CEO of Dash in a prepared statement. Launched in 2011, with offices in New York, Chicago and San Francisco, Dash is member of all US Equity and Option exchanges, NSCC and OCC.
Exoé to Use Charles River’s Investment Management Solution
Charles River, a front and middle office investment management solution provider, recently announced that Exoé S.A. (Exoé), an outsourced trading and execution specialist in Paris, has selected the Charles River Investment Management Solution (Charles River IMS) delivered as Software as a Service (SaaS), officials say.
“Exoé users will have a single, cross-asset order and execution management (OEMS) platform that can support the firm’s increased trade volumes and number of accounts,” according to Charles River officials. “Exoé is replacing internal systems with Charles River’s multi-asset OEMS to manage all client trade flow and support coverage of sophisticated derivatives and fixed income instruments.” Exoé will use Charles River’s compliance engine for investment controls.
“Having a single, multi-asset platform will increase efficiencies and productivity across our organization, and reduce our compliance risk throughout the order management process,” says Jean-Francois Dudognon, managing director for Exoé in a statement.
Established in 2006, Exoé is an independent investment firm with an outsourced dealing desk for institutional asset managers. Exoé’s solution “provides access to all market liquidity, the highest compliance standards and a complete set of reportings/monitoring tools, for a higher level of ‘best execution,’ ” officials say.
NICE, Speakerbus Partner to Integrate Recording and Voice Communication
Voice recording vendor NICE has signed a strategic technology partnership with Speakerbus, a vendor of voice collaboration solutions for global financial markets. The agreement will facilitate the integration between the NICE Trading Recording system and the voice communication system from Speakerbus. This will allow trading firms to make calls made on the Speakerbus platform and record them on the NICE recording systems, vendor officials say.
“This joint solution will also help financial institutions meet new regulations such as MiFID II, which will require that all communications (leading to transactions) are recorded and retained,” according to the vendors. Speakerbus’ clients will benefit from certified compatibility with NICE’s voice recording solutions.
“We already have a number of joint Tier-1 bank clients, and this integrated solution will deliver a holistic view of voice recording across the enterprise. We look forward to pursuing more opportunities together to help clients meet regulatory obligations,” says Patrick McCullough, CEO of Speakerbus, in a statement.
The NICE Trading Recording (NTR) platform can receive collated voice call information from any Speakerbus endpoint deployed across the enterprise, through Speakerbus’ iManager Call Detail Service, which concentrates and shares these numerous streams, officials say. The combined solution integrates communication processes and recordings to help trading floors comply with regulations and quickly resolve disputes.
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