Succession Systems

    BOOKMARK AND SHARE

    Real Time system meets compliance needs for Brokers in Russia and in the U.K.

     London, 9th September 2013: BCS Prime Brokerage (‘BCS’), the international arm of the largest trader of equities and derivatives on the Russian exchange, has appointed Succession Systems to launch a pre-trade Market Access Risk system, TripleCheck©.   The system delivers ultra-low latency risk management for Direct Market Access (“DMA”) clients including proprietary and algorithmic trading firms.

    The Market Access system is the fastest software pre-trade solution available for the Russian markets.  It offers single digit microsecond latency one way, wire to wire.  Additional markets will be added in the coming months.

    New regulation rules for risk management on international markets are driving clients to demand unified access to multiple markets.  In this way, clients are able to maximize their funding and margin utilization across complex portfolios. 

    Succession Systems was selected from more than 15 vendors to implement the TripleCheck system and develop custom functionality for BCSThe system is designed to fully comply with the SEC Rule 15c3-5 and the variations needed by different venues and geographies around the world.

     The system has a wide range of controls from basic “fat finger” checks to complex multi-market portfolio margin limit calculations.   A fully functional dashboard allows compliance teams to monitor, adjust and control trade flows in real time.   Performance testing has demonstrated high stability and through-put of up to 10,000 orders per second.

    Tim Bevan, Head of International Prime Sales commented:

    “To remain at the forefront of what we do, and to continue to exceed our clients’ expectations, BCS is committed to bringing innovative solutions to the market to capitalize on the growing demand for fast and efficient trade flows with Russia.

     We are currently looking to add markets, specific asset classes, client-oriented functions and liquidity services, and our appointment of Succession Systems will ensure we are able to consistently deliver cost-efficient, fast, flexible and comprehensive solutions.”

     Vladimir Pozdnyakov, Head of Risk & Liquidity Services commented:

      “BCS treats risk management systems not only as internal broker security tool but also as a keystone for a number of unique client-oriented products which will allow our clients to benefit from more efficient risk off-setting and improved funding. Our alliance with Succession Systems and dedicated project teams provides us with ultimate flexibility and speed in development and implementation of these new services.”

    Related content

    Blog: HFT in Russia
    HFT Review 4 March 2013

    News: McKay Brothers Delivers Status Update on 2014 US Microwave Roadmap
    3 March 2014 – McKay Brothers
    Aurora-Secaucus latency down to 8.15 ms, Aurora-Carteret down to 8.12 ms; New POPs in Piscataway and Cermak; 1 Mbps service to best all rivals in production; Improved connec…

    News: Moscow Exchange has first “all-market” trading solution with Horizon Software
    30 May 2014 – Horizon Software
    29 May 2014, Paris, Moscow – – Moscow Exchange (MOEX), specialising in equity and derivatives trading is going live withHorizon Software’s glo…

    News: Redline Trading Solutions Expands European Markets Support
    12 June 2014 – Redline Trading Solutions
    WOBURN, Mass. – June 10, 2014 – Redline Trading Solutions, the premier provider of ultra-low latency market data and order execution systems, today announced the a…

    News: Perseus Offers Global Trading Access and Risk Compliance for Eris Exchange
    22 August 2014 – Perseus Telecom
    All asset class network and High Precision Time™ for Interest Rate Swap Futures goes live   Chicago, IL and New York, NY – 21 August, 2014 – Perseus Te…

    Leave A Reply