Lehman Brothers Goes Live With Pre-Trade Equity Analytics on Charles River Development OMS
Lehman Brothers' pre-trade equity analytics have been integrated into the Charles River Investment Management System (Charles River IMS) to meet the growing demand for electronic trading services, the global investment bank announced on Wednesday. Buy-side firms use IMS for portfolio management, order management, trading and compliance.
Lehman's pre-trade analytics are driven off its Portfolio WebBench equity analytics suite, which provides trading and portfolio management decision support, including advanced transaction cost and risk modeling, portfolio optimization and trading-cost analysis. "The ability to integrate analytic content directly into clients' workflow, and to deliver added value at every point in the investment process, is what will separate the leaders from the followers in electronic-trading services," stated Jeffrey Wecker, managing director and global head of electronic execution services in the release.
The firm said it's committed to delivering industry-leading global electronic trading services to its clients, noting that it's made investments in resources and infrastructure to enable the firm to develop seamless electronic access to its trading desks, algorithmic trading products and sources of liquidity around the world.
"We look forward to continually developing new ways to bring flexibility, transparency and advanced functionality to our customers' trading experience," stated David Cushing, managing director of equity analytics and algorithmic trading, in the release.
NeoNet Offers Program Trading Functionality via DMA
NeoNet Securities will add electronic program trading functionality to its direct-market-access platform, the Stockholm-based neutral and independent agency broker announced on Wednesday.
Professional investors will be able to execute program trades via NeoNet's DMA platform, which provides access to 16 leading exchanges, said the release. NeoNet defines program trading as the execution of a portfolio of an array of different securities during a certain time period. The new functionality is being offered as a complement to program trading services over NeoNet's trading desk.
"We have added the enhanced functionality in response to the growing demand for electronic program trading capabilities among our professional investor clients," stated Patrik Westerberg, CIO of NeoNet, in the release. "This gives clients the opportunity to effectively execute program trades in-house with total control and transparency," Westerberg further stated, in the release.
NeoNet's enhanced program trading functionality now includes: pre- and post-trade analytics to track trading performance and identify securities in terms of market impact, and measure performance against a reference benchmark. It also includes slicing and wave functionality to distribute orders to the market in simultaneous waves to trade in line with market activity; importing and staging of programs into NeoNet's front-end, such as a spreadsheet or the client's order-management system; and comprehensive overview of the program in terms of overall performance and profit/loss.
SFTI Connects to Boston Options Exchange
Sector is providing connectivity to the Boston Options Exchange (BOX) via the Secure Financial Transaction Infrastructure (SFTI) for communications services, according to an announcement on Monday.
The SFTI B2B service from Sector enables firms to utilize existing connectivity to SFTI to communicate with exchanges, market centers and content service providers not hosted by the Securities Industry Automation Corp. (SIAC) — Sector's parent company.
SFTI B2B allows clients to connect to BOX for order flow and market data. This includes the HSVF Market Feed, NBBO (national best bid and offer), BOX five best limits and broadcast data relating to the price improvement process (PIP).
SFTI will be working closely with clients to determine bandwidth needs based on their architecture, system and market needs, said Sector in the release.
Sector is a managed services provider for communications and professional services, and data distribution provider for the financial services industry.
Portware Names Stuart Adams to Head Up European Operations.
Portware, a developer of execution management systems, appointed Stuart Adams to be head of European operations.
In his new role, Adams is responsible for expanding Portware's network of clients and forming strategic alliances across Europe. A 22-year veteran of the financial services industry, Adams will oversee account management, technical support and development at Portware's European headquarters in London.
Previously, Adams was managing director at AKJ, a London-based technology solutions provider to the global hedge fund and asset management community. Adams also has held executive-level positions with Brut Europe and Instinet Global Services where he was responsible for developing institutional relationships and new business as the firm's institutional sales director.