Electronic Trading Newsflashes: Reuters to License Telerate TRS to HyperFeed, and more

Reuters to License Telerate TRS to HyperFeed

Reuters, the financial information company, received clearance from the European Commission for its plans to acquire Moneyline Telerate, a global provider of real-time information.

As a condition of receiving clearance from the European Commission and the U.S. Department of Justice, Reuters and Telerate have agreed to license Telerate's TRS (Trading Room System) technology to market data rival HyperFeed Technologies.

HyperFeed, a Chicago-based provider of enterprisewide ticker plant and transaction technology, software and services, will be allowed to use and further develop TRS technology to offer its own market data system worldwide, according to Reuters.

HyperFeed also will receive rights to Telerate's Active8 Technology to create its own desktop application to connect and work with its market data system. Reuters announced a definitive agreement to acquire Telerate in a cash and stock deal worth $175 million last December.

UNX Provides Access to UBS Algorithms

UNX's trading platform will provide access to UBS Direct Strategy Access algorithms, the independent institutional brokerage firm announced on Monday.

DSA is the first among multiple third-party broker algorithms to be made available through UNX.

DSA is a suite of sophisticated strategies, combining historical tick data with real-time analysis and quantitative models with the company's liquidity network.

"The partnership with UNX gives our clients the benefit of additional execution opportunities available through UNX's single, consolidated platform, and streamlines trading operations and resources," stated Will Sterling, managing direct of UBS, in the release.

Clients can select among five algorithms available through the UNX MetaBook interface and FIX (Financial Information Exchange) Order Gateway: In-Line, VWAP (volume-weighted average price), TWAP (time-weighted average price), PIN (Passive Indication Network), and PRISM (Price Implementation Shortfall Minimization), according to the release.

WestLB Supplies Streaming Executable FX Rates to Bloomberg

WestLB has joined Bloomberg's foreign exchange platform for executable streaming prices. Buy-side foreign exchange clients now are able to click on streaming prices and immediately execute with WestLB via the Bloomberg Professional services. Prices can be fully customized by currency pair, instrument, amount and value date.

WestLB is a market maker in streaming executable rates and is the first bank to connect to the Bloomberg FX Streaming platform using the Cognotec AutoDeal+ e-commerce pricing engine, says Bloomberg.

"These new streaming executable foreign exchange rates are available to Bloomberg users worldwide," stated Russel Levi of Bloomberg, in the release. The streaming FX rates are integrated with Bloomberg's market data and analytics.

According to WestLB, the initiative will allow the bank to deliver advanced FX services to Bloomberg's global client base. "Increasingly, advanced technology is becoming a key determinant in defining banks' participating in the next generation of FX marketplaces," stated Trevor Cowan, managing director and head of rates of FX trading at WestLB, in the release.

SFTI B2B Will Route Order Flow to CBOE

Sector announced that clients of the Secure Financial Transaction Infrastructure (SFTI) B2B network can use the communications service for routing order flow to the Chicago Board Options Exchange (CBOE). SFTI B2B is a network developed by the Securities Industry Automation Corp (SIAC), which is the technology subsidiary of the New York Stock Exchange and the American Stock Exchange.

The SFTI B2B service, which is being marketed and sold by Sector, enables firms to use existing connectivity with SFTI to communicate with exchanges, market centers and content service providers not hosted by SIAC.

SFTI B2B allows clients to connect to CBOE applications, such as CBOEdirect, the exchange's hybrid trading system, and all of its order routing front ends. Sector and CBOE will be working closely with clients to determine bandwidth needs based on their architecture, system and market needs.

Curt Schumacher, vice president and chief technology officer of CBOE, stated in the release, "The SFTI B2B infrastructure will enable our trading community to use one of the industry's most highly secure and resilient common physical connections to get to CBOE applications."