Credit Suisse AES forges derivatives links

Investment bank Credit Suisse’s Advanced Execution Services (AES) division, which supplies algorithms and trading tools to the buy-side, has expanded its derivatives capabilities by joining financial software firm Orc’s ExNet broker connectivity network and launching a joint offering with US options pricing and analytics firm Derivix.

AES’s new link with ExNet, which provides hedge funds, proprietary traders and other advanced traders access to liquidity pools, allows users of Orc’s trading systems to trade futures, options and cash equities using AES algorithms and market access.

“In particular, we have an advanced set of algorithms available in derivatives markets where Orc Software is well known,” said Guy Cirillo, global head of channel sales at Credit Suisse AES. “Now, Orc and Credit Suisse customers can together take advantage of our execution algorithms and market connections.”

The joint solution with Derivix will allow the firm’s customers direct access to AES’s options and stock algorithms for use alongside Derivix’s options pricing and analytics. Using FIX connectivity, options traders will be able to access AES from within Derivix’s analytics front-end.

Nasdaq OMX installs low-latency Colombian trading platform

The Bolsa de Valores de Colombia (BVC), Colombia’s domestic stock exchange, has launched a new high-speed cash equities trading system powered by Nasdaq OMX technology.

The new BVC system was introduced on 9 February and offers a high-volume, low-latency platform for market participants in Colombia.

The new engine will enable algorithmic and high-velocity traders to trade on the platform, as well as allowing the introduction of new trading products and services.

“Through our new equities system we are in a great position to grow business at our exchange and thus reach our 2015 goal of 200 new companies and 1.5 million Colombian families investing in our market,” said Juan Pablo Córdoba, president, BVC.

Brokers bidding against themselves in LCH battle

US post-trade processing firm Depository Trust and Clearing Corporation's (DTCC) member-owned structure could complicate its battle to acquire European clearing house LCH.Clearnet.

The DTCC revealed its bid for LCH.Clearnet last October, but earlier this month a consortium of brokers, including inter-dealer broker ICAP, signalled its intention to launch a counter-offer. Many of the firms reportedly involved in the consortium either have significant US subsidiaries that are member-owners of DTCC, or, in the case of US institutions, are members themselves.

In challenging the DTCC for possession of LCH.Clearnet, consortium members are effectively competing with an organisation in which they collectively own a substantial stake.

“We don’t want get into a bidding situation where a firm is bidding against a branch of the same firm,” said a source familiar with the situation.

The brokers reported to be involved in the consortium with ICAP are BNP Paribas, Citi, Deutsche Bank, HSBC, J.P. Morgan, Royal Bank of Scotland, Société Générale and UBS. ICAP is the only firm that has publicly confirmed its participation.

EuPC urges EU support for Plastics Processors

In a January message to the European plastics conversion industry, Alexandre Dangis, the Managing Director of the EuPC, outlined actions taken in a series of high-level meetings with the European Commission and the European Investment Bank to secure support for the industry and to highlight the strategic importance of the plastics conversion sector in a balanced manufacturing economy.



In December 2008 an EuPC delegation of European CEOs supplying the automotive industry visited the EU Commission DG Entreprise, Automotive Unit to highlight the critical situation facing the industry. ‘Thousands of job losses in the automotive supply chain and many bankruptcies are ongoing as the startup in January was very weak’ said Dangis.

Dangis’s message was that EU and Member State support for the automotive industry should also be made available to component suppliers because of the close integration of the supply chain and the strategic importance of retaining the skills of component manufacturers within the EU. ‘The financial crisis is now being followed by an industrial crisis and the EU Members States and the EU Commission need to assist all EU companies to navigate through these very difficult waters’ continued Dangis.

This was reinforced by a meeting held with members of the cabinet of Günter Verheugen, Vice-President of the European Commission on January 16th. EuPC also had talks with the European Investment Bank on 21st January to ensure access to funding in the supply chain and Dangis invited a representative of the bank to attend EuPC’s National Plastics Association meeting to be held on March 10th. EuPC and EuPR, the European Plastics Recyclers’ Association, have been invited by the European Commission’s DG Environment to discuss the wider consequences of the economic difficulties on plastics recycling markets. The Commission has been appointed by the EU’s Council of Environment Ministers to provide solutions and actions in order to support recycling in this economic turmoil.

State of the Art Size reduction technology in operation at the NURRC PET bottle Recycling Plant

One of the world largest PET bottle recycling plant for food grade flakes has been opened at Spartanburg, South Carolina, USA. The operation is a joint venture of URRC and Coca Cola named NURRC and will process 50.000 tons / year (output) of PET bottles at its final stage. This plant is not only a significant environmental benefit but with 100 newly created jobs also an advantage for the local community. NURRC uses the latest state of the art technology in processing post consumer PET bottles into food grade flakes.
The selected equipment supplier for the size reduction part is Herbold Meckesheim GmbH from Germany with a total of 6 units of its new series of forced feeding granulators. This new granulator series type SB offers key features of today’s demand for reliable, energy saving and highly productive recycling machinery.

uk: Sims opens £12m Newport WEEE recycling plant

Metal recycling giant Sims has officially opened its £12 million WEEE reprocessing facility in Newport, South Wales. The 100,000 tonne-a-year capacity plant was opened yesterday (February 9) in a ceremony attended by Rhodri Morgan, first minister at the Welsh Assembly Government.

Nasdaq OMX installs low-latency Columbian trading platform

The Bolsa de Valores de Colombia (BVC), Columbia’s domestic stock exchange, has launched a new high-speed cash equities trading system powered by Nasdaq OMX technology.

The new BVC system was introduced on 9 February and offers a high-volume, low-latency platform for market participants in Columbia.

The new engine will enable algorithmic and high-velocity traders to trade on the platform, as well as allowing the introduction of new trading products and services.

“Through our new equities system we are in a great position to grow business at our exchange and thus reach our 2015 goal of 200 new companies and 1.5 million Colombian families investing in our market,” said Juan Pablo Córdoba, president, BVC.

“It is extremely rewarding to complete the second part of our deployment at BVC,” said Lars Ottersgård, head of market technology, Nasdaq OMX. “BVC now has a trading system for both equities and derivatives based on internationally recognised standards, putting them at the forefront of South American exchanges.”