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As part of its continued international growth, the listed derivatives business within Macquarie Bank's Futures Division is increasing the scope of its DMA offering to clients and has signed an agreement to take Patsystems hosted Global Trading solution from the first quarter 2008.
The new Global Trading solution will be hosted by Patsystems and deployed to Macquarie Bank offices and clients globally. This will be the first installation of Patsystems' new Global Trading core, an advanced solution that will provide customers with a global order book enabling more efficient management of trades and trade processing. In addition, the new Global Trading core will support non-stop trading; 24 hours per day, 6.5 days a week.
The system offers low latency for faster throughput, simpler global infrastructure and total compatibility with Patsystems front-ends and risk management tools. Macquarie Bank will be taking both the J-Trader and Pro-Mark trading front-ends.
Mr Bill Marynissen, Global Head of the Future Division , said "Macquarie is pleased to announce the implementation of Patsystem's infrastructure as part of our global trading technology. The Global Trading core, in particular, matches the worldwide, 24-hour structure of our Futures business. Macquarie's continued growth in London made it the natural point of commencement for the roll out, and complements our existing and growing voice broking, electronic and clearing capabilities. Trading capabilities in the US, Australia and Asia will be established in the short term after implementation in London."
Mr David Webber, CEO of Patsystems, said, "We are delighted to be providing Macquarie Bank with our new Global Trading solution. The selection of Patsystems as the Independent Software Vendor of choice by Macquarie is a testament to the strength of our technology offering, the extent of our market connectivity and the capability of our risk systems."
