NEWS Velocity Trade licenses Spectrum
DealHub expands into Asia
D
globally, has licensed the Spectrum System from Financial Software Systems (“FSS”). Velocity will leverage Spectrum to support its front-to-back-office Foreign Exchange dealings in spot, forward, Non-Deliverable Forward, swap, and option contracts. Velocity will now have a highly automated platform for supporting the collateralized trading activities of their clients’ FX needs and enable Velocity to continue its growth within the institutional FX marketplace. Te implementation will incorporate the Spectrum
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elocity Trade, headquartered in Toronto, Canada, but operating
Client FX Portal, which will allow a seamless channel for Velocity clients’ to be able to deal, make FX payments and view, in real-time, all of their FX trade positions and margin and collateral utilization. In addition, the next release of Spectrum will include a cross-asset OMS initially with support for foreign exchange, fixed income and equities; additional asset classes will be supported in 2012. Users will be able to select from multiple order types (stop, limit, if done, OCO, etc) and strategies. Traders will be able to manage the orders in a configurable view which allows easy drill-down into specific clients, orders and types.
Varengold launches Prime Brokerage service
bank based in Hamburg, has launched a new Prime Brokerage
service.Varengold has direct access to one of the deepest liquidity pools in forex and supports the continual development of innovative, client-focused solutions that meet their clients’ trading needs. Commenting on the launch, Timur Coban, head of institutional sales at Varengold said, “Trading at Varengold gives institutional clients access to better
V 12 | january 2012 e-FOREX
arengold Wertpapierhandelsbank AG, the German investment
prices and deeper liquidity, with full-service FX functionality from straight-through processing. Core objectives for firms in cooperating with Varengold are the connection to the interbank market and high trading liquidity for their clients. Quotes from all multiple dealing banks are continuously screened and analysed by Varengold in order to provide customised prices to their clients in real time. Partners and customers also profit from STP order execution, excellent pricing and direct streaming liquidity.”
ealHub (Option Computers Ltd) has announced that it will
open a new office in Singapore to support growing demand for its FX trading solutions in the region. Te move marks the return of previous DealHub Sales and Marketing Head, Tim Finch, who left the company in April this year to take up a position as Sales Director for FXCM Pro, based in Hong Kong. Commenting on Finch’s appointment as Regional Director, Asia, Dealhub CEO Peter Kriskinans said “Asia is where the fastest growth is right now – in the global economy and in the FX market – and we’re seeing ever growing interest in our solutions from customers in the region. As a result, it’s become increasingly clear that we need to expand our physical presence in Asia-Pacific.” Tis announcement follows Dealhub’s recent launch of ultra-low latency hosted services in London and New York and confirms plans to expand these services with a hosting location in Asia, ensuring global, high- speed trading connectivity for all Dealhub customers.
Timur Coban
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