CLSA Asia-Pacific Markets, a Hong Kong-based subsidiary of Credit Agricole, is using technology from California's Tibco Software to re-vamp its dealing platform in order to support increasing use of algorithmic trading methods.
CLSA has witnessed a 30-40% increase in global trading volumes in recent years, resulting in a five-fold increase in the amount of messages handled, driven primarily by the proliferation of algorithmic and black box trading.
Tibco says CLSA is implementing its Enterprise Message Service - a standards-based enterprise messaging platform that connects multi-vendor technologies on a common system - to streamline back office operations.
"The way we trade is changing and this is placing new technical demands on the trading platform. To meet these challenges and to prepare our business for expansion, we wanted to identify an enterprise messaging platform with the scalability, performance, low latency and high connectivity to handle both current and future trading systems," says T Rajah, CIO, CLSA.
Rajah says the Tibco platform offers "real-time monitoring capabilities, which will enable us to identify and address problems faster".
The vendor is also working with CLSA on the development of a business activity monitoring system.
The CLSA deal is the third reported by Tibco this week - both pan-European trading platform Equiduct and the Colombia Stock Exchange are implementing the vendor's technology as well.