Technology
DerivaTech buoyed by $7m in new financing
Chicago-based currency derivatives pricing, analytics, transactions processing and risk management system provider, DerivaTech, has secured $7 million in new financing from US venture capital firm Trident Capital.
Icap debuts i-Swap for price delivery
Inter-dealer broker Icap is rolling out a free service, i-Swap, to automate interest rate swaps price delivery and trade confirmations for its top clients.
Creditex adds LoanX data to boost relative-value capability
Creditex, the New York-based electronic trading platform for the credit derivatives market, is offering syndicated loan pricing data to clients of its PriceTracker credit derivatives data service.
SunGard integrates cash and derivatives trading systems under Front Arena
Pennsylvania-based risk technology firm SunGard Trading Systems is integrating its major cash and derivatives trading systems to offer a cross-asset front- to back-office straight-through processing solution under the Front Arena brand.
Cinergy adopts Triple Point gas trading software
US energy company Cinergy has licensed Gas XL trading and risk management software developed by Connecticut-based Triple Point Technology for its gas trading operations in Houston.
RMS adds new European and US temperature data
Risk Management Solutions (RMS), a California-based provider of software for the management of natural hazard risks, has expanded the number of weather databases in its Climetrix weather derivatives trading and risk management system in Europe and the…
Euronext pays CME $7.5m to settle Wagner patent dispute
Pan-European exchange Euronext will pay the Chicago Mercantile Exchange (CME) $7.5 million related to settlement of an indemnification dispute. The dispute revolves around the CME’s $15 million deal in August last year with electronic brokerage eSpeed…
High derivatives data traffic plagues market networks
There are growing fears that market data vendors and their networks may face capacity problems due to a sharp increase in derivatives market data traffic caused by jumps in price updates and data feeds from exchanges.
MBRM buys Cygnifi intellectual property rights
MB Risk Management (MBRM), a London-based financial analytics company, has bought the entire intellectual property rights of JP Morgan spin-off Cygnifi Derivative Services from its bankruptcy trustees.
GNI selects SunGard’s Panorama
London-based GNI Fund Management has signed up to use SunGard Trading and Risk Systems' real-time risk management product, Panorama, for its portfolio management and risk reporting activities. GNI Fund Management, which has $529 million under management,…
Problem trades are ‘eating up forex profits’, says SunGard
Nearly a quarter of FX transaction profits are eaten up by ‘exceptions’, or problem trades, according to a survey of 500 financial institutions. The lost margin is a result of staff and compensation costs, said SunGard ePI, the processing unit of US…
onExchange confirms it was bidder for Rolfe & Nolan
onExchange, the US back-office technology company, today confirmed market rumours that it made an offer to buy out UK-based financial technology company Rolfe & Nolan. Although Rolfe & Nolan rejected onExchange’s conditional, indicative offer of 85p per…
Lehman's prime brokerage to offer clients RiskMetrics tools online
Lehman Brothers' global prime brokerage unit will offer RiskMetrics' RiskManager tool to hedge funds, fund of funds and investors via its website, LehmanLive. The RiskManager service features value-at-risk, stress testing and 'what-if' scenario…
Daiwa signs up to use Reech Capital's valuation services
Dublin-based fund administrator, Daiwa Securities Trust and Banking (Europe), has signed a deal with Reech Capital, the London-based risk management technology company, to provide it with regular mark-to-market valuations of the over-the-counter (OTC)…
Merrill Lynch takes Fenics
Merrill Lynch today said it will deploy the Fenics FX options pricing software from New York-based broker and vendor GFI Group in 100 global positions. Fenics replaces Merrill’s existing in-house pricing platform for FX options.
Mexican central bank signs up to OpenLink
Banco de Mexico, the central bank of Mexico, has signed up for OpenLink’s Findur solution to integrate its front-, middle- and back-office functions. OpenLink is a New York-based trading and risk management software company.
Drilling company Transocean to use SunGard’s Quantum
Houston-headquartered offshore drilling contractor, Transocean, plans to install Pennsylvania-based SunGard’s Quantum treasury management system.
SunGard and Miac to offer integrated mortgage risk management software
SunGard Trading and Risk Systems, a unit of Pennsylvania-based SunGard, has formed a strategic alliance with New York-based Mortgage Industry Advisory Company (Miac) to develop software that provides treasury departments and mortgage banking units with…
Fidelity rolls out Fix for fixed income
Fidelity Investments - a financial information exchange (Fix) pioneer for equities trading - is extending the connectivity protocol to support fixed-income trading for sell-side counterparties.
Summit releases upgrade to STP suite
Summit Systems, a risk systems and technology vendor headquartered in New York, has released version 3.4 of its Summit straight-through processing modular front- to back-office product suite.
Bearing fruit
Introduction
Bank One updates technology to boost derivatives
Bank One is hoping to expand its global interest rate derivatives trading business by replacing decade-old customised trading software with new off-the-shelf technology.
The power to survive
Energy trading technology
A moving target
Op risk systems