APAC Archives - The Industry Spread

Pico Expands Private, Proprietary Low-Latency Network Across Major Data Centers

June 6, 2019 by Ricardo Esteves Leave a Comment Filed Under: Industry News Tagged: APAC, Capital Markets, Corvil Analytics, EMEA, Financial markets, financial services, ICE, Pico, trading platform

The firm is a service provider and a licensed market data vendor of record, sourcing raw market data directly from a venue’s lowest-latency and highest-bandwidth handoffs. Currently covering 35
data centers, Pico plans to add 16 more globally dispersed data centers in the next 14 months.

Pico, a leading infrastructure, connectivity, cloud technology, data and analytics services provider has launched its global connectivity ring, thus promoting the expansion of its private, proprietary network to the major financial data centers in North America, Europe, and Asia.

The network, which goes by the name of PicoNet, provides low-latency connectivity to hundreds of liquidity sources, information providers and counterparties, delivering market data and point-to-point connectivity between all of the key financial data centers worldwide through its diverse subsea networks, cable landing stations, and terrestrial network POPs, including NY4, LD4, and TY3 (delivering EMEA, the Americas, and APAC regional meshes).

Roland Hamann, Managing Director at Pico, commented:

“Our state-of-the-art global ring is the first of its kind to combine carrier-grade connectivity with the cost-effective scale and resiliency our clients require. Now, every client has direct access to
global markets including our high-quality market data sets.”

Pico has deployed network performance monitoring and analytics via Corvil Analytics to provide industry-leading transparency and operational metrics.

The firm’s global connectivity network gives Tier 1 banks, broker-dealers, assets managers, hedge funds, proprietary, and electronic trading firms the ability to pass data between major financial centers and execute trades in microseconds to gain a competitive edge in FX and all other asset classes as the platform extends across 35 data centers covering over 200 exchanges and trading venues worldwide.

Pico’s outsourced solution, which leverages its expansive network, exchange, and market data connectivity services, includes offering a single-hop solution where clients can connect trading servers through a collapsed architecture via a single co-located Pico switch, receiving market data and sending orders at the lowest possible latency. This solution is currently available at data centers in Basildon (ICE) in the UK, Frankfurt (Eurex/Xetra) and CH1 (ICE) in Chicago, accessible in about 380 nanoseconds.

Avelacom Announced PoP at Thailand’s SET Exchange

May 4, 2019 by Ricardo Esteves Leave a Comment Filed Under: Industry News Tagged: APAC, Asia Pacific, Avelacom, business, emerging markets, financial services, HKEX, SET Exchange, SGX, Thai markets, trading connectivity

Avelacom has deployed a PoP (point of presence) at The Stock Exchange of Thailand’s (SET) data center facilities in order to reduce latency and improve traffic for sell-side and buy-side firms, inter-dealer brokers and market data vendors who wish to directly access Thai markets.

The high-performance global connectivity and IT infrastructure provider for the financial services industry has found a growing interest in Asian markets from global capital markets players who look for equity derivative products between SET and other major exchanges.

According to the company, the roundtrip latencies to Bangkok from the Singapore Exchange (SGX) through the network are 26 ms. From Hong Kong Exchange (HKEX), latencies are of 39 ms. Low latency execution is required for the planned growth of intra-regional trading activity.

Aleksey Larichev, CEO of Avelacom, commented: “Avelacom’s network has always been intended to serve latency sensitive clients by working with international institutions, accessing emerging markets, particularly on Asian trading venues. A PoP in Thailand further enhances our Asian presence and provides our clients with low-latency access to yet another growth market. We hope this will bring more global clients to SET and positively influence the exchange trading volumes.”

Alevacom’s ultra-low latency network links to 80+ trading venues globally and is dominant in emerging markets provides clients, facilitating cross-border and multi-asset trading for some of the largest trading firms in the world.

The trading connectivity firm helps financial services firms to setup at trading venues and quickly access growing markets across APAC, the Middle East, Europe, and Americas, and benefit from multi-asset class trading, including equity, commodity, FX, crypto, and derivatives.

The company opened a new office in Singapore in response to the significant business growth in the Asia Pacific region. In 2017, Avelacom registered double-digit growth in new business volumes coming from APAC.

RegTech Firm ClauseMatch Expands to APAC Region, Opens Regional Head-Office in Singapore

March 25, 2019 by Karthik Subramanian Leave a Comment Filed Under: Industry News Tagged: APAC, Capital Markets, ClauseMatch, financial institutions, financial services, investment, RegPac, RegTech, SaaS solutions

ClauseMatch

Fintech company ClauseMatch that provides regulatory technology has started its operation Singapore, marking its entry in the Asia-Pacific (APAC) market. ClauseMatch is a London headquartered company that offers SaaS solutions, allows financial institutes to streamline regulatory change management by organizing internal policies, controls, and functions. The firm also deploys AI and machine learning to automate compliance processes.

In the press release, the company noted its decision to open APAC headquarters in Singapore was driven mainly by the country’s status as a regional financial hub. Further, there is an affinity of the regulatory standards of Singapore with the UK’s financial market guideline which helped the firm to decide on entering the new market.

While speaking about the expansion in the APAC region, Evgeny Likhoded, ClauseMatch’ founder and CEO, said:

“Establishing a presence in Singapore is an important milestone for ClauseMatch. Many banks have done expansions by way of acquiring local banks. And integration of local entities into the group is often not done perfectly, so what we offer to banks in Asia is actually a way to manage their internal compliance in a central way and see where they have discrepancies with local processes in different countries in Asia.”

“Besides, from what we experienced, Singapore is very open to collaborating with innovative financial technology companies from Europe and rate of adoption of technology in Asia is much faster because there are fewer legacy systems in large financial institutions. We are eager to make our commitment to this market and help it perhaps even leapfrog other more established markets.”

The company has handed the operations of the new regional head office to Arathi Arul, who is currently the vice president of business development with the firm. Arathi commented on the expansion:

“Singapore understands that, and with the push from the MAS, companies realize the importance of innovation in order to help overcome these challenges. So, we see them taking the lead in Asia in terms of adoption of RegTech. This means it is the right time for ClauseMatch to enter this market in order to help companies streamline compliance processes. 2019 is set to be the year of RegTech in the region, and we are extremely excited to be on this journey.”

To build deeper roots in the region, the company has also partnered with local firm RegPac Revolution, to get professional connectivity in the APAC region.

IG Group Releases Q3 Financial Report for Fiscal 2019, Revenue Declined by 12% to £108 million

March 21, 2019 by Karthik Subramanian Leave a Comment Filed Under: Industry News Tagged: APAC, brokerage, Capital Markets, derivatives trading, ESMA regulation, EU, financial institutions, IG GROUP, Q3 figures, trading platform

IG Group

IG Group, the London-listed world leader in derivatives trading, has reported its Q3 financials for fiscal 2019 that ended on February 28th. The latest Q3 figures indicate large scale impact of ESMA’s new regulation on revenue and low volatility has impacted the overall business of the retail broker.

During the third quarter, the revenues declined by almost 12 per cent to £108 million, with the most impact coming in from the UK and EU region, where income decline has 15 per cent to £56.9 million. The revenue from the APAC region also witnesses a double-digit decline of 11 per cent quarter-on-quarter to £35 million. The only increase in revenue has been reported from EMEA region, that is outside ESMA jurisdiction, where the group posted a 6 per cent increase in revenue to £11.3 million.

During the quarter, the total number of active clients with IG Group rose slightly by 1 per cent to 125,600 compared to the previous quarter. Clients in the UK and EU region also increased by 1 per cent to 51,800. The total number of new customers signed up during the quarter increased to 7,742 from 7,553, maintaining stable client growth.

Low volatility across global financial market during the quarter took a heavy toll on the company’s profitability, and a shift to professional clients also didn’t help much with the segment, reporting a decline of 20 per cent. During the quarter, only 14 per cent of 1425 applications for professional clients got approved by the broker. The professional clients’ segment accounted for the major part of the revenue from the EU and the UK region at £37.1 million, whereas retail clients contributed £19.8 million to the revenue.

The year-to-date revenue for IG Group declines by a good 27 per cent from the ESMA region with 39 per cent from EU and 22 per cent from the UK region to £202.4 million from £278.4 million a year ago. The EMEA ex EU and APAC recorded an increase of 22 and 7 per cent respectively.

Following the release of the result, IG shares tumbled, breaking below the 500 pence per share. The 52 weeks high for the stock in 920 pence, reached in August last year before the new ESMA regulation kicked in.

JB Prime Integrates CQG’s Multi-Asset Platform

February 14, 2019 by Ricardo Esteves Leave a Comment Filed Under: Industry News Tagged: APAC, CFD, commodities, CQG, Eventus, FCM, FX, Gain Capital, JB Prime

Customers of Australian financial services company JB Prime have gained access to CQG’s multi-asset offering, including global equities, contracts for difference (CFDs), Foreign Exchange (FX), and Commodities with a new partnership between both firms.

CQG‘s high-performance solutions for trading will be available to JB Prime, which offers full-service brokerage, managed discretionary accounts and self-directed trading opportunities to institutional and individual clients across Australia, the UK, and Asia.

Leighton Andrew

Leighton Andrew, Managing Director of APAC at CQG, commented: “It’s an important milestone for CQG to deliver a high-end, multi-asset offering, providing a seamless experience for global customers trading a diverse portfolio from a single account. The partnership with JB Prime gives customers new and broader trading opportunities.”

Daren Markisic

Daren Markisic, Chief Executive Officer at JB Prime, said: “A professional multi-asset platform is what the marketplace has been demanding for over a decade. CQG offers, in addition to a robust front-end platform, market analysis and news, charting and order management across the futures and options space, on a global basis. Now, together with the technology developed by JB Prime, traders have access to trade Futures, Options, FX, CFDs and Equities globally, and all from the one account. That technology offering – coupled together with our 24-hour full-service operation which offers training and support, research and reports, as well as professional order management – places JB Prime as a premier broker to fill the needs of all traders across various asset classes.”

CQG is a leading global provider of high-performance solutions for trading, market data, technical analysis, and risk and account management. The firm has recently added Eventus’ market surveillance tools to its suite of add-ons. The move allowed futures commission merchant (FCM) partners, like GAIN Capital, to increase their risk management and surveillance capabilities on CQG.

In April 2018, CQG started to offer Quantitative Brokers’ suite of premium execution algorithms on the CQG’s platform, giving customers access to sophisticated trading strategies without the need for custom development.

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