Newedge casts an eye over its DMA in Asia
Newedge will use Ullink’s post-trade monitoring tools in its Asia Pacific markets
A new post-trade monitoring system will allow French broker Newedge to better manage its risk exposure from its Asian direct market access platform.
The firm has chosen Ullink’s UL Monitoring toolkit to provide a real-time aggregated view of client trading activities. The idea is to help the broker to better manage its risk exposure and help it to audit its trade reports, as well as to give insights that can be used to adjust trading behaviour.
“With trading activity that spans global markets on a wide array of platforms, effective trade surveillance with superior client order transparency takes centre stage,” said Brad Giemza, senior IT director at Newedge. “By adding UL Monitoring to our suite of applications, we can now efficiently monitor and affect client orders on a single screen, which significantly enhances trading risk mitigation for our DMA clients in Asia-Pacific.”
Based in Paris, Newedge was created in 2008 from the union of the brokerage subsidiaries of Société Générale and Credit Agricole. The broker is active in Europe, the Americas and Asia, and offers execution, clearing and prime brokerage services.
Ullink is a French software company that specialises in trading technology for financial services firms.
DMA involves an asset management firm using the broker’s ID to access the market directly. While so-called ‘naked access’ without pre-trade risk controls has been banned in many markets, brokers are coming under increasing regulatory scrutiny following events such as the flash crash of May 2010, when an erroneous order caused a brief stock market crash worth $1 trillion in the US.
