FTEN Expands Into Europe to Meet Demands for High-Frequency Trading
“It’s a natural extension for the sell side to use our products and work with a partner to expand into other regions, said Myerson. “Going into Europe is a natural expansion as you have a lot of announcements from European exchanges evolving their matching engine and you have the connectivity providers offering high quality infrastructure and the market data feeds. All of that means that players are ready to set up in Europe and take advantage of the innovative technology or also they have designed or will design that the market is going to dictate,” said Myerson.
FTEN provides a dedicated high-speed execution and risk control platform to support their clients’ black-box trade flow. The core features are being transitioned into Europe where it will provide trading access systems, pre-and post-trade risk management systems and also surveillance application, which will benefit clients on both the buy and sell sides, said Bannert-Thurner. ”The buy-side will benefit from the very fast technology we can provide with accessing the various liquidity pools and the sell-side will have the inside on what’s going on in exposure per account, on the flow levels, enterprise level and the global level,” she explained.
While the growth of the high frequency market has been huge in the past two years, Myerson said this is just the beginning. The space is expanding as firms expand their strategies to foreign markets, and then there’s a new wave of entrants that left larger banks that are forming their own proprietary trading firms, that are extending into options and futures, he noted. “The broker needs proper risk management infrastructure to interact with the marketplace offering these (sponsored-access) tools and this new type of functionality,” he said. In terms of establishing a European operation, Myerson said, “We really see it as perfect timing from the client side, high frequency side and also from the sponsored access side.”
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio
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