Technology
CreditGrades launches with three backers
Deutsche Bank and Goldman Sachs have joined JP Morgan as backers of CreditGrades, an online equity-based model that assesses the credit quality of publicly traded companies.
Icap beefs-up Fra-Cross staff to meet demand
UK interdealer broker Icap has added new staff for its electronic forward rate agreement (FRA) matching system Fra-Cross, as volumes and demand from banks increase. It has signed up more than 30 banks for Fra-Cross, and the number of transactions per run…
Application Networks comes out from shadows
Application Networks, a software provider specialising in software for leading capital market firms, has announced its first Wall Street customer.
Isda seeks development help on FpML for exotic equities
The International Swaps and Derivatives Association has appealed for help from the industry in its attempt to extend the Financial products Markup Language (FpML) to exotic equity derivatives.
XBRL promotes transparency
Credit tech
Wall Street Systems offers rates module
Wall Street Systems has released an interest rate derivatives (IRD) module, which supports traditional analytic models as well as multiple-term structure models such as Black-Derman-Toy, Hull-White and Black-Karasinksi.
Citi and JPMC days away from FX Connect integration
The integration of Citigroup and JP Morgan Chase on State Street's FX Connect is only days away, said Simon Wilson-Taylor, managing director of Global Link.
GFI unveils Fenics 2002 upgrade
Interdealer broker GFI today unveiled details of enhancements to its Fenics options pricing system, which is used by an estimated 85% of global options dealers.
Algorithmics charts new business strategy
Ron Dembo, founder and chief executive officer of risk management systems provider Algorithmics, has said that within a few years, one third of Algorithmics’ revenue could come from the company’s new alliance with Bloomberg, announced in January…
HVB invests in equity trading with Front
Hypovereinsbank (HVB), the German private sector bank, has extended its agreement with Stockholm-based trading technology providers Front Capital Systems, an operating unit of SunGard Trading Systems. HVB will implement Front Arena globally for its…
Tokio Marine launches TokioWeather
Japan's Tokio Marine and Fire Insurance has launched TokioWeather, the country's first software program that calculates the premium on weather derivatives, according to an official at the insurer in Tokyo.
Fame shake-up under new chief executive officer
Fame Information Services, the New-York based market data vendor, has secured a new investment from majority shareholder, Warburg Pincus, the private equity company. New plans to radically shake up the business have been unveiled by incoming chief…
Iris launches eqTrader
Iris Financial Systems, a provider of trading and risk management systems based in San Francisco, today launched eqTrader, a component-based equity portfolio management system, onto the European market. eqTrader enables portfolio managers to automate…
Blackbird completes first FpML trades
Blackbird, the North Carolina-based electronic market-place for over-the-counter interest rate derivatives, has completed the first swap trades on an electronic network using Financial Products Markup Language, or FpML. The deals are the first practical…
Cicada creates risk data management group
Cicada, a US market data distribution systems company, has created a new subsidiary, Cicada Risk, to provide risk data management products. The move marks the company’s first foray into the risk management business.
Citi joins State Street's FX Connect liquidity pool
Citigroup, which failed in efforts to create a merger of e-FX portals FXall and Atriax, ahead of Atriax's collapse late last week, has joined State Street's FX Connect as a liquidity provider.
New online FAS 133 tool developed for corporate hedgers
New York-based risk management system provider Reval has developed an online derivatives hedging service, Reval Express. It is intended to provide an affordable means for US corporates that hedge only lightly to comply with derivatives Financial…
GFI to use CSK’s Slingshot for trading portal
Interdealer broker GFI is implementing CSK Software’s Slingshot product to stream real-time data into Web-based products, including a new trading portal. The project is part of a larger market data strategy at GFI.
Korea's Daishin Securities contracts Kamakura for market risk
Daishin Securities has signed up to use Kamakura Corporation's technology to manage its market risk activities at its Seoul-based head office. Daishin is Kamakura's seventh Korean trading firm client.
eSpeed licenses futures trading patent to Ice
Technology company eSpeed has licensed its electronic futures trading patent to online energy platform Intercontinental Exchange (Ice). The move will enable Ice to expand its electronic trading platform to cover energy futures and options contracts…
Henderson signs with Xenomorph for derivatives support
Henderson Global Investors, a subsidiary of the Australian Mutual Provident Society (AMP), has selected Xenomorph to provide risk management for derivatives support across a range of investment products.
BarCap poised to move NYC trading floor in July
Barclays Capital, the investment banking arm of the UK's Barclays Bank, plans to begin moving to its new trading floor in midtown Manhattan in July, according to Nick Themelis, Barclays Capital's chief information officer for the Americas.
HSBC rolls out Rolfe & Nolan back office system in US
The UK's largest bank, HSBC, has started rolling out derivatives back office technology developed by Rolfe & Nolan (R&N) in New York and Chicago.
Many are called, few are chosen
The market for power trading technology in Europe is mirroring the energy industry in the intensity of its competition. Benjamin Tait reports