SIFMA 2011 Wrap 2.0

Manhattan hosts the annual SIFMA Expo

Companies mentioned: FlexTrade Systems, Advent, SunGard, Patsystems, BNY Mellon, Rapid Addition, SimCorp, ConvergEx Group.

FlexTrade Systems has introduced two new trading tools for its FlexOPT options-trading repertoire: FlexOPT-RM, a risk management and stress-testing platform, and FlexOPT-OMM, an order-driven market-making platform. FlexOPT-RM offers real-time risk and stress analysis allowing traders to analyze risk by portfolios, sectors, traders, accounts, or any level of aggregation/hierarchy, while FlexOPT-OMM provides a user interface for configuring order strategies. The pricing engine can be customized by traders and loaded into the system as a dynamic module. Positions can be grouped and viewed at various levels, and a hierarchy of risk limits ensures that traders can manage risk in real-time.

Advent and SunGard have announced an alliance to address cost-basis reporting requirements with enhanced FIX messaging via Advent's Moxy trade order management system (OMS). The enhanced FIX messaging extends the capabilities of the tax-sensitive engine at Moxy's core. Historically, Moxy users have had the ability to select tax-optimized closing methods for their portfolios, although they have lacked an automated way to communicate this selection to their custodians. Through this alliance with SunGard Global Network (SGN) Securities, Advent offers a straight-through-processing workflow from Moxy to support transmission of Versus Purchase (VSP) information on the FIX allocation message, which can be used to specify tax lots when closing out positions.

Phillip Securities Japan, a securities brokerage firm and wholly-owned member of Phillip Capital, has signed a software license agreement with Patsystems, whereby Phillip Securities will utilize Patsystems' technology to facilitate its retail brokerage and execution business on the Osaka Securities Exchange (OSE). Patsystems will provide Phillip Securities with low-latency connectivity to the OSE, licenses for Patsystems' J-Trader and Pro-Mark, and a complete back-up system.

BNY Mellon has announced the creation of a new company to clear futures and derivatives trades on behalf of institutional clients in Europe, the Middle East and Africa. Headquartered in Dublin, BNY Mellon Clearing International Limited is the first Mifid-authorized futures and derivatives clearing entity in Ireland and is regulated by the country's central bank. It plans to become a clearing member on major exchanges and central clearinghouses globally to support the trading activities of BNY Mellon clients, and intends to create 50 new jobs in Ireland over the next two years.

Bolsa de Valores de Colombia (BVC), operator of the country's main securities exchange, has implemented Rapid Addition's technology as part of a major regional integration project along Latin America's Pacific Coast. The system was built using a .Net version of GRHub, Rapid Addition's FIX order-routing product which routes market data, orders and executions between national and international brokers and the following three exchange platforms: BVC, Valores de Lima (Peru), and Bolsa de Comercio de Santiago (Chile).

SimCorp has announced the release of its guide to the International Financial Reporting Standard (IFRS) 9. The guide examines how investment firms can benefit from new measurement models and how they can leverage their IT platform to ensure compliance with the new regulation, set to be introduced on January 1 2013. IFRS 9 governs the rules-based provisions of tainting, reclassification and impairment, as required by the current International Accounting Standard (IAS) 39. The new regulation requires firms to classify their assets into one of two measurement models - the amortized cost model or the fair-value model - aimed at simplifying the reporting process mandated by the regulation.

ConvergEx Group has announced the launch of Eze Data Management, an extensible, multi-asset class data repository that provides the tools for data enrichment, maintenance of "golden copy" reference data, as well as aggregation, tracking and reporting on performance and risk data. The tool is designed to integrate with ConvergEx's Eze OMS and other platforms. Eze Data Management includes two core modules: Eze Reference Data Manager, which provides firms with a central location for managing their universe of reference data (instruments, issuers, portfolios, custodians, currencies, classifications, and strategies) creating a golden copy database that can be leveraged across all systems; and Eze Performance Manager, which aggregates and normalizes performance and risk data from multiple sources for consolidated reporting and analysis.

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