This is the first major enhancement to Skyler's C3 product suite since the firm launched its offerings to address the data processing needs of US-based capital markets firms and takes Skyler's innovations to the worldwide stage.
"Our clients include financial institutions with operations world-wide that are increasingly looking for enterprise-wide solutions, rather than point solutions in each market," states Steve Cooper, Skyler's CEO and Chairman. "In response, Skyler's new C3 Liquidity Discovery Solution provides institutions with a liquidity management system that can be deployed on a global scale while addressing regional market structures in a comprehensive way."
Skyler's C3 products, which have been adopted by leading financial institutions, are designed to address the trading challenges faced by the industry. Exponential increases in the volume of market data that must be processed as part of trading activity have overwhelmed existing processing systems. In addition, a proliferation of trading venues is creating more fragmented liquidity, making it more challenging for traders to execute orders efficiently. Skyler's C3 Liquidity Discovery Solution allows financial institutions to dramatically improve their trading efficiency and powers the market's best smart-order routing systems, trading algorithms and trading desktops by offering greater insight into market liquidity.
The enterprise enhancements to the Skyler C3 Liquidity Discovery Solution were undertaken with insight garnered from earlier client deployments and include sophisticated scalability and high availability mechanisms as well as more architectural flexibility to deliver liquidity information to algorithmic engines and GUI based users. In addition, an extended set of adapters to industry standards such as Reuters RMDS 6 and Tervela are available for evaluation.
For European-specific features, Skyler has expanded the flexibility of the system to allow customers the ability to request order books aggregated over a specific user-defined set of venues on a per query basis. Other additions include the support of multiple currencies, enhanced embedded business logic to deal with auction and other European venue-specific flags, and takes into account settlement lines key to power smart-order routing applications.
Firms that have tackled RegNMS over a year ago are now revamping their European trading infrastructure to deal with the open and increasingly fragmented market space created by MiFID. "With Chi-X already established in Europe, and Project Turquoise and other MTFs on the horizon, the next few years will be critical for those trading in the European capital markets. The need for 'smarter' smart-order routing and liquidity discovery is of paramount importance," explains Cooper. "Our customers look for solutions that not only address the ultra-low latency and high throughput requirements of the US but also deliver in terms of flexibility and specific business logic required in the European market space."
"These recent enhancements put Skyler well ahead of the competition," said Cooper. "Our vision is to become the global leader in market data solutions for trading and the advance into Europe is a crucial step in that strategy," he continued.