Options Partners with TraderServe To Deliver Trading Compliance Tool AlgoGuard As A Managed Solution
London – November 10, 2015 - Options, the leading managed service and IT infrastructure provider to the global capital markets industry, has today announced it has partnered with software and appliance vendor, TraderServe. The partnership will see Options become a strategic managed service and hosting partner for TraderServe’s fully functional, exchange emulated test environment, AlgoGuard.
AlgoGuard is the market-leading solution for the testing of trading algorithms in line with the European Securities and Markets Authority's recent final submission on regulatory technical standards for the financial instrument directive, MiFID II. The MiFID II requirements, which become mandatory from January 3rd 2017, necessitate that all trading firms certify that their algorithms have been tested to ensure that they do not create or contribute to disorderly trading conditions before being deployed in live markets.
The AlgoGuard technology is currently the only commercially available solution to test these mandatory requirements in production at a major exchange. The solution uniquely emulates live market environments, including simulation of stressed market conditions in order to fully test algorithms against the key behaviours that contribute to market disorder events, such as a flash crash.
Speaking following the announcement, TraderServe Technical Director, Nick Idelson, commented, “AlgoGuard offers a pass / fail testing solution against predetermined indicators of disorderly market behaviour and allows for the testing of algorithms that trade multiple markets. In the wake of ESMA’s latest recommendations TraderServe are delighted to be bringing this solution to the market alongside such an experienced managed service provider as Options.”
Options CTO, John Bryant, added, “TraderServe’s AlgoGuard platform not only provides clients with a tailored solution on an individual investment firm basis, it also provides a realistic non-live testing environment that doesn’t disclose the algorithms being tested. Given ESMA’s recommendations and the fast-approaching deadline facing investment firms, the joint offering from TraderServe and Options will ensure these firms achieve MiFID II compliance in a timely and efficient manner.”
About Options (www.options-it.com):
Options is the leading managed service and IT infrastructure products provider to the global financial services sector. Founded in 1993, the company began life as a hedge fund technology services provider. More than a decade ago, the company made a strategic decision to become the first provider to offer cloud services to the financial sector. Today over 200 firms globally leverage the Options platform, including the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses and exchanges.
For more on Options, please visit www.options-it.com, follow us on Twitter at @Options_IT and visit our LinkedIn page.
Options harnesses their platform to deliver four managed service solutions:
Managed Platform: Core
Essential business technology from email and office applications to phones and tablets
Managed Applications: Momentum
Hosting and management of the applications that run your business, front office to back
Managed Co-Location: Velocity
Low latency trading, FIX connectivity, market data and computing infrastructure
Industry-leading experts in Advent Geneva, Advent APX, Advent Axys, Tradar Insight and Sungard VPM®.
About TraderServe (www.traderserve.com)
TraderServe is a software and appliance vendor and consultancy firm focused on real-time trading and complex problem applications for fund managers, traders, brokers, banks and trading venues. TraderServe's principals are industry leaders in design, development and execution of trading architectures and strategies, and have been pioneering real-time algorithmic environments since the 1980s.
TraderServe offer a unique range of solutions in disorderly market testing, algorithmic best execution and other real-time tools.
TraderServe's Algorithmic Stability Testing products and services, AlgoGuard for investment firms and AlgoGuard Arena for trading venues, are the first to market to meet the new regulatory challenges to Algorithmic Trading without disclosure of Algorithm IP.
+44 20 7070 5129