Trading Briefs: MarketXS Releases MarketXSPro Version 2.6.2, and more
This week MarketXS released version 2.6.2 of its MarketXSPro for Windows terminal application, which offers new user features, data sources and general enhancements to further improve the user experience, making it easier to monitor markets and rapidly find information. The tools appeal to finance professionals on and off the trading floor and have been developed in close consultation with MarketXSPro customers.
Version 2.6.2's new features are aimed at facilitating the banks' delivery of a private-label version of MarketXSPro, which includes the ability to manage and deliver multimedia content within the application and a plug-in option for quickly integrating any internal or external functional component. MarketXSPro 2.6.2 is also the first release to link to TradeNet, the MarketXS order routing network, giving MarketXSPro users full trading capability for the displayed instruments.
MarketXS is a leading provider of real-time market data technology and trading solutions. Over 350 customers use its market data infrastructure, the Finance Engine, to power terminals, Web sites, transaction systems or any other real-time market data application for front, middle or back office with any source of data.
--GL TRADE Offers Service Bureau Connectivity to the IPE
GL TRADE is to provide service bureau connectivity to the International Petroleum Exchange (IPE). The IPE has announced it will be closing its futures and options pits on April 7 to become a fully electronic market place.
GL TRADE -- the first global ISV to offer connectivity to IPE back in 2003 with several clients already live -- offers brokers a low-cost entry opportunity to trade directly on the IPE through the Internet or via the GL NET, the dedicated order routing network operated by GL TRADE. The company also will provide its clients with IPE market data.
This extended service offering means that GL TRADE hosts and maintains all trading and market data feed hardware and software, allowing brokers to benefit from a rapid deployment involving minimum financial or technical investment. Dedicated GL TRADE support teams provide updates and software releases when necessary. Brokers using the service bureau solution can download the trading application software directly onto their desktops and trade immediately.
"This development is part of our overall strategy to offer efficient, cost-effective solutions that suit companies requiring scalable and flexible systems," noted Philippe Carr½, head of global client services for GL TRADE , in a press release. "The availability of such market-access solutions also allows us to meet their need at every stage in their growth."
--CME Reaches All-Time High of 3.8 Million Contracts Traded Electronically
Chicago Mercantile Exchange (CME) announced this week that electronic trading achieved a new record of 3.8 million contracts, excluding its non-traditional TRAKRS products, on Wednesday, March 10, surpassing the previous record of 3.7 million contracts traded on November 5. Total CME volume was 5.9 million contracts -- the third busiest day in the exchange's history.
The exchange also set a new record in CME E-mini Russell 2000 equity index futures, trading 167,950 contracts. Open interest at the exchange climbed to an all-time high of 33,406,705 positions, excluding TRAKRS.
The largest futures exchange in the United States, CME is an international market place, bringing together buyers and sellers on CME Globex electronic trading platform and on its trading floor. CME offers futures and options on futures, primarily in interest rates, stock indexes, foreign exchange and commodities.
--Instinet Joins With LatentZero to Offer Algorithmic Trading Services
Instinet announced this week that its algorithmic trading services can now be accessed by clients through LatentZero's Minverva trading and order management system.
Instinet Algorithmic Trading enables clients to select and use those rules which meet their specific requirements and benchmarks, such as VWAP, Block Peg and Volume participation, without ever having to worry about information leakage.
"We believe that our relationship with LatentZero represents a significant benefit to institutional investors who want to use our un-conflicted algorithmic trading platform," said Steve Brain, Instinet global head of systematic trading, in a press release. "As we continue to grow our algorithmic trading business, joint efforts with buy-side OMS providers like LatentZero will increase the options in how institutions access our offering."
Instinet's offering is global and leveraged by clients around the world from North America to Europe and Asia. In addition to being accessible through any FIX connection, Instinet's algorithms can be accessed via the Instinet Trading Portal and Newport front end, the company's patent-pending, next-generation portfolio trading system.