Nittan Capital can now provide electronic FX Options price matching services to complement their established voice broking business. Banks across Asia can choose to trade Nittan Capital prices directly on their screen or by phone to Nittan Capital’s FX Options broking desk.

The new service is underpinned by the ASPone Hybrid Execution Platform (HEP) system which provides bank dealers with screen-based capabilities to view and post FX option orders onto the Nittan Capital price matching system and then to execute trades on-line. The system complements Nittan Capital’s voice-broking services.

Denis Cheung, Managing Director of Nittan Capital, explained “Nittan Capital are determined to maintain our position as a leading broker in Asia and see the extension of electronic price matching services to our clients as an important way to enhance their access to our liquidity. Building on our existing relationship with ASPone we plan to leverage hybrid voice and screen trading technology to ensure our clients have trade execution choice and accurate post-trade processing”.

The new service means client banks across Asia can enter, hit and take at-the-money FX option orders for a large number of currency pairs and also enter orders for more complex FX options which are made available by the Nittan Capital FX option brokers who then match them for execution. The brokers also monitor trading activity and place orders on behalf of clients. Risk reversals will soon be added to the service.

The system is an implementation of ASPone’s Hybrid Execution Platform which delivers a complete workflow for trading OTC instruments and integrates with other systems for post-trade processing, portfolio management, etc. Trade confirmation is achieved through integration with post-trade services like TRTN (Thomson Reuters Trade Notification) and MarkitSERV to complete the workflow for all trades executed on the system.

Patrick McGrath, Chief Executive of ASPone Ltd, said “Our solution is a very good match for Nittan Capital. Its modular architecture and flexibility mean that Nittan Capital can easily extend it onto other broking desks by adding further asset classes and providing related functionality to create a single solution which can ultimately be used by the Nittan Capital brokers in all their offices and by all their clients”.

Nittan Capital is one of the leading brokers in the Asian inter-dealer market. Its inter-dealer brokerage business involves providing brokerage services exclusively for commercial and investment banks to trade a wide array of over-the-counter financial and derivative products involving foreign exchange, money markets, interest rates and equity derivative products. Uniquely focused on key Asian markets, Nittan Capital currently serves over 130 institutional clients, including all leading investment and commercial banks. Its parent company, Central Tanshi, is the largest inter-dealer broker in Japan.

ASPone Limited is a privately-owned company which specialises in the provision of end-to-end financial IT solutions and services to cover the full trade lifecycle from front-office price discovery to back-office STP confirmation and beyond. ASPone is committed to providing financial institutions with innovative, efficient solutions for their real-time market data and transactional management requirements, hosting services and software application development.

• Alexander Nazarov joins the Moscow office to manage QA activities, adding his banking technology experience gained previously at Deutsche Bank.
• Natalie Lim is working in the Singapore team covering network management and provisioning. Natalie brings extensive knowledge of communications in Asia from her previous role at Starhub.
• The ASPone Singapore team is also boosted with the arrival of Jennifer Tan as Finance Manager, Asia-Pacific.
• Nufraz Nagoor joins the product management team in London having recently relocated from Dubai where he developed technology with Mubasher Financial Services and Nadastra.
• Mezbaur Rahman is now part of the ASPone systems support team. He was formerly of Lombard, a subsidiary of RBC.
• Bill Pinfold is in the Business Development Manager role having joined in July from Thomson Reuters, with immediate projects addressing the impact of regulatory change on ASPone trading systems.
• Meanwhile Moscow based business manager Maria Fedorova extends her remit to cover sales across Europe for financial systems and networks.

“We are really pleased to have recruited such excellently talented new colleagues to support our business growth in serving clients” said CEO Patrick McGrath. “This aids our on-going expansion of our networks and will see the release of new products in the derivatives trading space in due course, to service clients working to comply with Dodd-Frank and MiFID II / EMIR regulations”.

ASPone is well placed to assist organisations to meet the requirements and associated deadlines and is already actively engaged with its clients, current and prospective, discussing requirements and potential solutions.

ASPone has a track record as a technology partner and end-to-end trading services provider that positions us to deliver SEF solutions to meet the regulations. The basis for this is the ASPone Transaction Routing Hub, a flexible and configurable middleware platform, which can handle any financial data (from real-time streaming through to historical and reference data) across all asset classes. It supports most industry-standard protocols such as FIX, FAST and Thomson Reuters’ Marketlink. On top of TRH, ASPone provides a number of workflow solutions across the trading spectrum – from pre-trade price discovery, across order matching, DMA and exchange trading through to transaction reporting, order management and portfolio management.

Additionally, ASPone is contributing to SEF related content for the British Bankers Association’s fourth Annual International Banking Conference in June 2011.

ASPone, the Financial IT solutions specialist, announces an upgrade to its Moscow infrastructure as it continues to expand its network services in Russia and the CIS.

Following the successful roll out of its MPLS (Multi-protocol label switching) voice and data network throughout the Asia Pac region, ASPone is continuing to invest heavily in Russia and the CIS. Over the coming months, it will be extending its hybrid platform to accommodate both traditional TDM services and next generation IP services.

“The continued growth in the newer fast growing financial centres such as Moscow, underpins ASPone’s long term strategy to support our customers business growth by providing faster lower cost of entry for the financial community” says ASPone’s Managing Director, Patrick McGrath.

ASPone is already a leading provider of international voice and data network services in the region and has unparalleled local knowledge and a proven track record in implementation, support and service migration.

ASPone is the only international voice and data specialist to have its own local office, infrastructure and data centre. It also offers a local 24/7 bilingual Russian/English speaking helpdesk which provides local first-line support with additional service centres in London and Singapore.

ASPone has a growing local onNET community, including the leading inter-dealer brokers as well as a number of major International and Russian domestic banks, all of whom are now connected into ASPone’s diverse global network.

“We look forward to working with our customers to accelerate growth in these exciting and dynamic new markets” says Patrick McGrath.