02.15.2012

Software as Service Tempts Capital Markets

02.15.2012
Terry Flanagan

Ability to efficiently provision services is paramount.

The rapid pace of events in financial markets necessitates a more nimble approach to delivering trading technology.

That solution could entail moving critical pieces of the trading infrastructure into a software-as-service (SaS) environment.

“With a hosted or local solution, there are more moving parts that need to be adjusted whenever changes take place,” Brian Nadzan, chief development officer at TradingScreen, told Markets Media. “SaS lends itself to adapting in real time to changing conditions in the capital markets, such as the situation in Greece.”

TradingScreen operates a SaS model out of eight data centers around the world, each staffed by teams organized according to product, region, and line of business.

SaS is distinct from a hosted or ASP-type model, although the terms are often confused.

“A hosted solution is a customized system involving dedicated hardware, software and infrastructure,” said Nadzan. “With SaS, there’s one back-end software installation, and everybody shares the same technology. Many say that hosted or ASP is the same as SaS, but they’re different.”

TradingScreen is expanding its products to incorporate asset management.

TradePrime, a new platform that’s been launched by TradingScreen, aims to solve the problem hedge funds face of needing to combine and to consolidate all EMS and OMS functionality and downstream interaction with administrators and prime brokers via a single, broker-neutral solution that spans all asset classes.

TradePrime is a technical platform connecting TradingScreen’s TradeSmart EMS to order management system (OMS) functionality usually found in locally-installed OMS platforms.

TradeFX platform, the foreign exchange trading module within TradingScreen’s TradeSmart execution management system (EMS), spans the spectrum of FX electronic trading models and venues, including full streaming, request for stream (RFS) and RFQ.

The platform enables clients to efficiently trade FX without complex integration across platforms and to handle post-trade needs seamlessly through allocation, reconciliation and staging, from front to back-end systems, the company said.

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