New York headquartered provider of diverse brokerage technology solutions, with offices in Chicago, Geneva, Hong Kong, London, Paris, Sao Paulo, Singapore, Sydney and Tokyo, expands its reach with a new product launch.
Founded in 1999, and with offices currently in five continents, TradingScreen, an independent provider of Liquidity , trading and investment technology via Software as a Service (SaaS) solutions, has announced the launch of RiskHub, a product designed to help Futures Commission Merchants (FCMs) provide real-time credit checks to comply with Title VII of the Dodd-Frank Act, which is also known as the Wall Street Transparency and Accountability Act of 2010.
More specifically most swaps are now subject to mandatory clearing, and FCMs have just sixty seconds to perform real-time credit checks before their customers’ trades are accepted by an OTC derivatives market’s central counterparty (CCP) for subsequent clearing. However, this 1 minute window may become increasingly narrower as according to CFTC documents, "as soon as technologically practicable" is an evolving standard subject to interpretation. Specific guidance on this subject with regards to regulations 1.74, 37.702(b), 38.601, and 39.12(b)(7) which establish STP requirements for FCMs, SEFs, DCMs and DCOs respectively, can be found on the CFTC website.
As per the official press release from TradingScreen, because mandatory trade reporting requirements in the U.S. have already gone into effect for Interest Rate Swaps (IRS) and index Credit Default Swaps (CDS), the volume of trades being centrally cleared has risen dramatically. On this basis, the launch of RiskHub may be timely if it can take off and be adopted by the FCMs involved in this segment and those preparing to enter it.
Cloud Aggregation Services
As the benefits of cloud-based solutions become more apparent to the delivery of financial services technology solutions, TradingScreen aims to build upon this method by leveraging SaaS delivery through a cloud-based system. The company is no stranger to working on large deals with trading venues, and has built a diverse business across equities, fixed income, listed derivatives and related technology driven aspects of supporting buy-side and sell-side companies, including offering price discovery and matching solutions, and TradeFX, a foreign exchange platform for brokerages, and a robust transaction cost analytic (TCA) offering.
Commenting in the corporate announcement, Philippe Buhannic, CEO of TradingScreen said, “TradingScreen’s RiskHub Solution allows our clients to execute the required calculations in an instant.” Mr. Buhannic emphasized the importance of time during the pre-trade process and said in the corporate statement, “Today, the credit check deadline is 60 seconds, but someday soon it could be even shorter. We are pleased to offer a solution that meets the tough requirements of today, and has also anticipated the regulatory developments of tomorrow.”
Speed of Practicability
The duration allotted by regulators as being technologically practicable, with regards to mandatory time frames that order-related processes must fall within, may decrease over time as solutions become faster. “TradeHub is a super-fast, pre-trade system backed by the most sophisticated risk methodology available today, including VAR, risk factors, and SPAN,” said Mr. Buhannic regarding the level of risk-analysis of the new product, in today's press release. “RiskHub represents the next generation of risk technology, leapfrogging the current post-trade environment that has been the mainstay of the industry for the past few years.”
With regards to regulatory differences in Europe, Mr. Buhannic noted the lead the U.S has and said,“The timetable for the implementation of the European Market Infrastructure Regulation, or EMIR, is slightly behind Dodd-Frank, but regulators there seem to be moving in the same direction.”
Mr. Buhannic concluded his statement in the press releases regarding some of the challenges faced by participants, “The new compliance realities have FCMs and other market participants scrambling to keep up. TradingScreen customers appreciate our cloud-based system, which keeps them on top of present and future regulatory changes, without forcing them to ramp up overhead or staff.”
The appearance of cloud-based solutions in technology offerings is expected to grow in Forex Magnates' opinion, as co-location and reduced latency play a pivotal role in market efficiencies.
Founded in 1999, and with offices currently in five continents, TradingScreen, an independent provider of Liquidity , trading and investment technology via Software as a Service (SaaS) solutions, has announced the launch of RiskHub, a product designed to help Futures Commission Merchants (FCMs) provide real-time credit checks to comply with Title VII of the Dodd-Frank Act, which is also known as the Wall Street Transparency and Accountability Act of 2010.
More specifically most swaps are now subject to mandatory clearing, and FCMs have just sixty seconds to perform real-time credit checks before their customers’ trades are accepted by an OTC derivatives market’s central counterparty (CCP) for subsequent clearing. However, this 1 minute window may become increasingly narrower as according to CFTC documents, "as soon as technologically practicable" is an evolving standard subject to interpretation. Specific guidance on this subject with regards to regulations 1.74, 37.702(b), 38.601, and 39.12(b)(7) which establish STP requirements for FCMs, SEFs, DCMs and DCOs respectively, can be found on the CFTC website.
As per the official press release from TradingScreen, because mandatory trade reporting requirements in the U.S. have already gone into effect for Interest Rate Swaps (IRS) and index Credit Default Swaps (CDS), the volume of trades being centrally cleared has risen dramatically. On this basis, the launch of RiskHub may be timely if it can take off and be adopted by the FCMs involved in this segment and those preparing to enter it.
Cloud Aggregation Services
As the benefits of cloud-based solutions become more apparent to the delivery of financial services technology solutions, TradingScreen aims to build upon this method by leveraging SaaS delivery through a cloud-based system. The company is no stranger to working on large deals with trading venues, and has built a diverse business across equities, fixed income, listed derivatives and related technology driven aspects of supporting buy-side and sell-side companies, including offering price discovery and matching solutions, and TradeFX, a foreign exchange platform for brokerages, and a robust transaction cost analytic (TCA) offering.
Commenting in the corporate announcement, Philippe Buhannic, CEO of TradingScreen said, “TradingScreen’s RiskHub Solution allows our clients to execute the required calculations in an instant.” Mr. Buhannic emphasized the importance of time during the pre-trade process and said in the corporate statement, “Today, the credit check deadline is 60 seconds, but someday soon it could be even shorter. We are pleased to offer a solution that meets the tough requirements of today, and has also anticipated the regulatory developments of tomorrow.”
Speed of Practicability
The duration allotted by regulators as being technologically practicable, with regards to mandatory time frames that order-related processes must fall within, may decrease over time as solutions become faster. “TradeHub is a super-fast, pre-trade system backed by the most sophisticated risk methodology available today, including VAR, risk factors, and SPAN,” said Mr. Buhannic regarding the level of risk-analysis of the new product, in today's press release. “RiskHub represents the next generation of risk technology, leapfrogging the current post-trade environment that has been the mainstay of the industry for the past few years.”
With regards to regulatory differences in Europe, Mr. Buhannic noted the lead the U.S has and said,“The timetable for the implementation of the European Market Infrastructure Regulation, or EMIR, is slightly behind Dodd-Frank, but regulators there seem to be moving in the same direction.”
Mr. Buhannic concluded his statement in the press releases regarding some of the challenges faced by participants, “The new compliance realities have FCMs and other market participants scrambling to keep up. TradingScreen customers appreciate our cloud-based system, which keeps them on top of present and future regulatory changes, without forcing them to ramp up overhead or staff.”
The appearance of cloud-based solutions in technology offerings is expected to grow in Forex Magnates' opinion, as co-location and reduced latency play a pivotal role in market efficiencies.
Webull Introduces "Lite" Version of Trading App for Retail Users
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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