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Fusion Systems’ Raptor goes live on NSE Derivatives with leading global sell-side firm

 

April 15, 2015

Mumbai, India. (April 15, 2015) – Fusion Systems announced that Raptor, a leading ultra-low-latency market gateway and pre-at-post trade risk management solution, is now live with high volume order flow on the derivatives segment of the National Stock Exchange of India (NSE), with a leading global sell-side firm. In addition to NSE derivatives, Raptor has been live on the equities segment of NSE since 2012.

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Raptor provides brokerages and proprietary desks with FIX/OUCH to market-native direct market access and comprehensive risk management for all major Asia-Pacific cash and derivative exchanges and alternative venues. Raptor maintains one of the lowest published latencies in the market, achieving a median latency of 50 microseconds in production while sustaining an order rate of 10,000 TPS with all pre-trade risk and compliance checks embedded.Raptor is certified with the new trimmed protocol, and now supports currency derivatives. In addition, Raptor supports multiple order types specific to the derivatives segment of NSE, including:

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  • Index futures

  • Index options

  • Single stock futures

  • Single stock options

  • Currency futures

  • Currency futures spread

  • Equity derivatives spread (Future + Future) / (Cash + Future)

  • Multi-leg orders (2-Leg and 3-Leg orders)

 

Product Coverage

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  • Equity derivatives

  • Currency derivatives

  • Interest rate futures

 

Raptor includes the following risk checks required by NSE:

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  • Market wide position limits

  • Block securities from trading

  • Trading member position limits

  • Qty freeze limits

  • UserID related limits

  • Spread notional value

  • SPAN margin collateral (trading power) checks

  • Underlying commodity position checks

  • Exposure margin (working/position)

  • Extreme loss margin

  • Open interest position limit for Currency segment

  • Various checks required for Category (1,2,3 domestic, bank, trading member)

  • Short net position check for Currency segment

 

Raptor supports Give-up trades, and the SPAN module has been re-engineered to minimise the latency and increase order throughput. Users can check trading power and collateral real-time, and Raptor provides the ability to share the collateral among multiple Raptor instances. This feature benefits users who have the same clients in both colocation and normal production environments, using Raptor’s Flux GUI to respectively assign common collateral. Additionally, Raptor includes new functionality supported by NSE, such as Cancel on Disconnect, where client’s orders will be cancelled automatically by the exchange as soon as it gets disconnected.

 

Raptor Flux GUI for Monitoring and Control

 

Flux is a real-time command and control front-end for electronic trading desks and operational support. Flux enables monitoring and control, including real-time latency, flow rates, network and system health monitoring.

 

Features

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  • Integrated latency reporting and monitoring

  • Masking – Investor ID/Account/Client masking

  • Mass cancel – system wide or client specific

  • Bring up/down client or exchange sessions in real-time

  • Update risk limits and balances intraday

  • Manage margin collateral (trading power)

  • Alert support privilege – specify users who can view alerts

  • Pushed alerts – with easy drill-down navigation

  • Role based visibility

 

Benefits

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  • Provides a global view of all trading activities

  • Allows precise control over multiple levels of internal and client market risk

  • Helps enable improved account and market risk management

  • Provides unified management interface

 

About Fusion Systems

 

The Fusion Systems Group provides integrated technology solutions to organizations in several industries, specifically Capital Markets. We specialise in time-sensitive and mission-critical solutions. Our offices in Hong Kong, Tokyo, Shanghai and Los Angeles are located in the heart of central business districts. We maintain comprehensive technology infrastructure supporting software development teams and server-room hosting facilities at all sites. The Fusion Systems’ offices are staffed with seasoned developers, infrastructure engineers and support staff pre-positioned for rapid deployment to nearby customers.

 

While we often orchestrate successful outcomes for our clients by managing other vendors, we do not internally outsource or offshore development or systems support to other organisations. We pride ourselves on providing our clients with premium service levels of professionalism and responsiveness combined with full transparency and local accountability.

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