NEX Exchange Names TriOptima COO to Board NEX Exchange, the U.K. stock exchange for small and medium companies formerly known as ISDX, reports that it has appointed Mireille Dyrberg to its board as a non-executive director. The exchange, which also had an incarnation as PLUS Markets, is part of the NEX Group, previously known as… Read More >>
DTCC Promotes Ann Shuman to General Counsel
Post-trade infrastructure provider DTCC has promoted Ann Shuman from the post of DTCC managing director and deputy general counsel to the position of general counsel for the company, as of February 1, officials say. Shuman replaces Larry Thompson, who is stepping down to serve full time as vice chairman of DTCC, a post he has… Read More >>
Quantile and AcadiaSoft Join Forces for Risk Reduction Effort
Derivatives risk optimization vendor Quantile Technologies Ltd. and AcadiaSoft Inc., a collateral management automation provider, are joining efforts to help derivatives market participants cut counterparty credit risk and facilitate resources such as initial margin across asset classes and financial instruments, including swaps, options and non-deliverable forward (NDFs), a cash-settled, short-term forward contract. The Quantile’s risk… Read More >>
Tullett Prebon Buys CME’s Hybrid Trading IT
Interdealer broker Tullett Prebon is acquiring from CME “a long term license of a hybrid trading technology” that it will further develop internally “to provide bespoke, proprietary, customer-facing capabilities,” officials say. Tullett Prebon has been busy lately, having purchased the hybrid, U.S. voice-broking business operations of Creditex from the Intercontinental Exchange (ICE), and before that… Read More >>
AcadiaSoft Unveils Central Margining Hub for Derivatives
Norwell, Mass.-based AcadiaSoft, Inc. reports that it has begun industry testing of its Collateral Hub, which it characterizes as the “first ever Central Margining service for non-cleared OTC [over-the-counter] derivatives.” Twenty-eight major banks are participating in the test of the electronic-margin-management system, AcadiaSoft says, noting that its “new service will facilitate industry compliance with impending… Read More >>
Amazon Web Services to Support Key Markit Systems
Markit Signs On for Amazon Web Services A provider of data services and systems, Markit has adopted the low-rent cloud computing support of Amazon Web Services (AWS) to support “Markit products and services including enterprise data management (EDM), thinkFolio, WSO, indices and processing,” according to Markit officials. Markit EDM and WSO customers across North America… Read More >>
Tullett Prebon-ICAP Deal to Impact Post-Trade Services
Interdealer broker ICAP is selling its brokering business and more to Tullett Prebon in an arrangement that both companies say will lead to $91 million in savings and streamlined support for post-trade services, transaction processing and trading data offerings. The move is seen as a response to challenging times for interdealer brokers who face a… Read More >>
CLS, TriOptima Team Up for FX Compression Service
CLS Group (CLS), a specialist settlement bank for the global foreign exchange (FX) market, and TriOptima, a vendor focusing on over-the-counter (OTC) derivatives post-trade services, are behind the launch of the triReduce CLS Forward FX Compression Service that combines the CLS infrastructure with TriOptima’s compression offering, officials say. Compression is the practice of canceling out… Read More >>
ICAP Invests More in Recs Upstart Duco
Interdealer broker ICAP, a markets operator and provider of post-trade risk mitigation and information services, reports that it has made an additional investment in Duco, a London-based fintech provider of hosted reconciliation services. Terms of the new investment, made via Euclid Opportunities, ICAP’s early-stage fintech funding business, which first invested in Duco in 2012, were… Read More >>
TriOptima: $500T in OTC Notional Principal Eliminated Since 2003
TriOptima, a provider of post-trade services for over-the-counter (OTC) derivatives, reports that market participants have eliminated $500 trillion in notional principal outstanding since 2003, when it introduced triReduce, its multilateral compression service. That amount in eliminated notional principal outstanding includes “cleared and uncleared trades across a broad spectrum of products including cleared interest rate swaps… Read More >>
