Neueda Consulting, the software development & IT firm, has partnered with hedge fund cloud specialist HentsÅ« to provide an exchange simulation framework to buy-side firms globally in AWS.
Neueda’s Exchange Simulator provides investment firms with the ability to perform dedicated, automated and closed loop testing, across multiple asset classes. The simulator supports full matching engine functionality, multiple order types, and both order entry and market data in FIX and native protocols.
Malachy O’Neill, Head of Neueda Capital Markets, commented, “Regulators across the globe are playing a more proactive role after a number of high profile IT failures and the subsequent negative market impacts. MiFID II continues this increased focus on governance and controls by establishing minimum standards for algo and IT trading processes. The Neueda simulator accelerates development cycles for trading application and algos.”
The combination of the Neueda Exchange Simulator and HentsÅ« managed AWS allows fund managers to meet regulatory requirements quickly and cost efficiently. Trading systems can be robustly evaluated in test scenarios, such as stressed markets, increased order flows and disorderly market events.
“Asset managers face pressures of decreasing fee revenues, increasing competition, and rising costs of regulatory compliance” said HentsÅ« Founder & CEO Marko Djukic. “Upcoming MiFID II rules around testing algorithms, operational oversight, and governance create further challenges for funds. By using the AWS cloud infrastructure HentsÅ« helps funds cut costs of their technology operations and at the same time rapidly conform with complex regulations.”
The Neueda Exchange Simulator is now available in the HentsÅ« Hub, delivered using the scale and global reach of the AWS infrastructure.
Founded in 2006, Neueda is a privately owned specialist IT delivery organisation and recently shortlisted for the 2015 Deloitte Technology Fast 50 awards. Neueda delivers custom software development projects, across market data, order routing, risk and algorithmic trading frameworks, including a cost efficient and cost predictable customer FIX onboarding service.
HentsÅ« redefines the way that fund manager and trading technologies are delivered. HentsÅ« provides fully managed AWS and Azure cloud platforms for fund managers, with on-demand applications, compute clusters, and connectivity to market data providers, brokers, and exchanges. HentsÅ« helps clients unlock the agility, scalability and resilience, in a secure and compliant cloud environment.