TraderServe Links Into Colt’s PrizmNet Portal

Colt Technology Services has added TraderServe to its PrizmNet utility, a financial services extranet that bridges providers of financial content to Capital Markets firms, according to a Colt statement.

Colt’s PrizmNet service helps deliver market data, software, and services though a consolidated portal. TraderServe is the latest addition to a group of companies already utilizing the service that includes Aquis Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, JPX, Nasdaq and NLX, among others.

TraderServe has opted to connect to Colt to help provide access to Algoguard - a key validation engine for Markets in Financial Instruments Directive (MiFID) II compliance. The new service is slated to be available for users to all Capital Markets participants that wish to demonstrate compliance for algorithm testing under the current MiFID II Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, regardless of operating locale.

More specifically, Algoguard affords capital markets participants the ability to perform algorithmic testing in compliance with MiFID II. This ability can be used without any disclosure of a participant’s IP, and can help satisfy any mandatory annual testing requirements.

In addition, TraderServe is also working with Colt though its PrizmNet service to test and pilot its platform for its members and participants.

According to Nick Idelson, Technical Director of TraderServe in a recent statement on the integration: “The timing of delivery of Colt’s new extranet – Colt PrizmNet – is ideal in light of the requirements for testing that MiFID II brings and the timescales that go with those. Capital Markets firms will be able to directly access Algoguard and deliver their new regulatory obligations without any need for expensive and time-consuming builds. The obligation has long been known about, and whilst we await the release of the technical standards, firms should be preparing for this now.”

“We’re pleased to welcome TraderServe to PrizmNet. TraderServe’s presence enhances PrizmNet’s value to Capital Markets firms internationally, as a means to become MiFID II compliant well in advance of the looming deadline. There are many different activities that will be imposed on firms using algorithms in their trading strategy. Anything that can help lighten the development overhead for our customers, especially in the coming 18 months, will be very welcome,” added Hugh Cumberland, Solution Manager for capital markets at Colt Technology Services in an accompanying statement.

Earlier this week, Colt experienced a shakeup in its executive personnel, appointing Carl Grivner as its newest Chief Executive Officer (CEO), whose tenure will take effect only at the start of the New Year on January 1, 2016. Mr. Grivner had originally joined Colt a few months prior in May 2015 and currently serves as its Executive Vice President of Network Services.