Patsystems has completed development work on a solution for the OCBC Securities Private Limited’s (OCBC Securities) futures trading system, expanding the broking firm’s system capabilities, product offerings and trading connectivity for the futures market.

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NYFIX has added Tokyo-based FIX connectivity provider MetaBit’s MLH(Market Liquidity Hub) to the NYFIX Marketplace, giving Marketplace members efficient access to an increased number of Japanese brokers and regional exchanges.

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Aiming to increase liquidity and efficiencies in the developing Indian wholesale corporate debt market, India’s finance ministry has given approval to ICAP’s electronic bond platform, with an official opening for the platform by Indian Finance Minister P Chidambaram at a ceremony in Mumbai.

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Cantor Fitzgerald (HK) Capital Markets Ltd has now completed three full months of uninterrupted service using the newly implemented Fidessa Asian trading platform for its Asia-Pacific equities business, based in Hong Kong.

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BT says is to provide connectivity and hosting through its Radianz Proximity Solution for electronic trading access and low latency market data distribution to AXE ECN, the new Australian ECN. BT’s announcement confirms its deal with AXE ECN, first reported on AsiaMarketsIT.com last year (AsiaMarketsIT.com, June 2007).

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Agency broker NeoNet has expanded its trading and brokerage access to the Australian Securities Exchange. During 2007, NeoNet expanded its global round-the-clock execution services with trading on exchanges in Asia (AsiaMarketsIT.com, April, July 2007). “The addition of the Australian Securities Exchange is an important step to make our offering in the Asia-Pacific region even more complete,” says Simon Nathanson, CEO and president of NeoNet.

The Australian Securities & Investments Commission (ASIC) has permitted responses from banks and brokerages to a second round consultation process, CP 95 Competition for Market Services, until January 29 2008, following responses gathered last year from around 30 participants on its CP 86 document. Respondents to the first round included AXE ECN and Liquidnet, which are seeking to operate fully in Australia.

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Charles River Development is offering integrated connectivity to the Liquidnet Asia trading venue via the Charles River Investment Management System (Charles River IMS). Liquidnet Asia will provide direct access to its liquidity pools in Hong Kong, Japan, Korea and Singapore, as well as 24 other markets around the world.

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Credit Suisse has officially kicked off electronic execution services on the Sapporo Securities Exchange, the Nagoya Stock Exchange and the Fukuoka Stock Exchange, in a move which it says makes it the first bank in Japan to offer electronic execution services throughout the country.

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Commonwealth Bank of Australia (CBA) is to participate in Yieldbroker’s dealer-to-client and inter-dealer markets. This follows the announcement in April that ANZ and RBC had agreed to participate in Yieldbroker’s dealer-to-client and inter-dealer markets alongside shareholder banks ABN Amro, Citi, Deutsche Bank and Macquarie Bank.

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The Australian marketplace is waiting with bated breath for this month’s publication of the responses to the Australian Securities and Investments Commission’s (ASIC) July consultation paper - CP 86 - that sought industry feedback on the future trading and market data environment. The responses are likely to indicate market sentiment on potential competition to the Australian Securities Exchange (ASX) posed by new entrants AXE ECN and Liquidnet.

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As upstarts Liquidnet Asia and AXE ECN await the outcome of an industry consultation into their applications for membership, Nomura’s Instinet subsidiary last month received full membership of the Australian Securities Exchange (ASX). Membership, which had been anxiously anticipated by the agency broker, will give Instinet the go-ahead to offer its full suite of execution services to Australian trading and investment institutions, including access to its alternative trading platforms, trading algorithms and execution management systems.

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Yuanta Securities, Taiwan’s largest broker, has connected to MetaBit’s Market Liquidity Hub (MLH), becoming the first domestic Taiwanese sell side broker on MetaBit’s FIX trading network.

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By Christopher Morris

What are the factors to be considered when setting up an electronic derivatives trading business in Asia?

At the annual Singapore FOW conference back in October 2005, delegates were awash with trepidation and excitement in equal measure. The Singapore Exchange (SGX) had made the strategic decision to move all legacy open outcry trading across to an electronic trading platform. A former floor broker wandered around the exhibition floor trying to convince every delegate he met. “I don’t know why SGX are closing the floor,” he said. “It might have worked in Europe, but Asia has a whole different way of doing business.”

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Despite algorithmic trading being unavailable on exchanges in India, the time is nearing for the government and regulators to give it the green light in the very near future. Indeed, some believe a decisive move could come as early as the end of 2007, with adoption starting in earnest next year.

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Bank of China International (BOCI) has gone live with GL Stream from GL Trade to support its sales and trading activities on the Hong Kong Stock Exchange. BOCI is also the first client to adopt the GL Trade front to back solution in ASP mode.

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Sacombank Securities (SBS) has become UK-headquartered DST International’s (DSTi’s) first brokerage client in Vietnam, having signed to implement the vendor’s Equities Trading Solution (ETS) and Back Office Solution for Trading (BeST).

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Following its inaugural Asia-Pacific Client Conference in Melbourne in May, Boston-based provider Charles River Development is trumpeting two client successes in the region.

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A series of informal audience polls during the FIX Protocol Limited Trading Summit in Singapore in May yielded some interesting observations on the state of play with electronic trading in the Asian region, as well as some valuable insights into how Asia e-trading will develop in the coming years.

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By Angela Wilbraham, Chief Executive Officer, A-Team Group

Launching this fine magazine (which we hope you’re enjoying); diving into the online world of portals, blogs and podcasts; jet-setting around Asia supporting the launch of a new Asia Markets IT newsletter; juggling all manner of client deadlines ahead of the crucial SIFMA Show; (oh, and dealing with the usual administrative nonsense associated with running your own company). It’s keeping us more than busy here at A-Team HQ. But we have a feeling this mirrors what is becoming an astounding level of activity in our industry in general – everyone is just so under the gun it seems.

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