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Davidge Data Systems
Davidge Data Systems Corporation was "a privately held software company that specializes in middleware for trade ordering, execution and back-office connectivity for Wall Street firms," including Smart order routing Smart order routing (SOR) is an automated process of handling orders, aimed at taking the best available opportunity throughout a range of different trading venues. The increasing number of various trading venues and MTFs leads to a surge in li .... The company's ''DavNet'' includes the ability to efficiently handle large volumes of small orders. History Davidge, founded 1982, was acquired by ''S1 Corporation'', a holding company, in April, 2000, for about $20 million, at a time when it seemed that "banks in the U.S. were going to control much of the retail brokerage" industry, especially as related to online trading. S1 sold Davidge to Paris-based GL-trade in October, 2003. At that time, Davidge software was used for "40% of US listed options volume and served "4 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Middleware
Middleware is a type of computer software that provides services to software applications beyond those available from the operating system. It can be described as "software glue". Middleware makes it easier for software developers to implement communication and input/output, so they can focus on the specific purpose of their application. It gained popularity in the 1980s as a solution to the problem of how to link newer applications to older legacy systems, although the term had been in use since 1968. In distributed applications The term is most commonly used for software that enables communication and management of data in distributed applications. An IETF workshop in 2000 defined middleware as "those services found above the transport (i.e. over TCP/IP) layer set of services but below the application environment" (i.e. below application-level APIs). In this more specific sense ''middleware'' can be described as the dash ("-") in '' client-server'', or the ''-to-'' in ''peer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Back-office
A back office in most corporations is where work that supports ''front office'' work is done. The front office is the "face" of the company and is all the resources of the company that are used to make sales and interact with customers and clients. The back office is all the resources of the company that are devoted to actually producing a product or service such as data entry, payroll, accounting and all the other labor that is not seen by customers, such as administration or logistics. Broadly speaking, back office work includes roles that affect the costs side of a business's trading statement and front office work includes roles that affect the income side of a business's trading statement. Although the operations of a back office are seldom prominent, they are a major contributor to a business's success. They can include functions such as accounting, planning, inventory management, supply-chain management, human resources and logistics. Back offices are often located somewhe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Smart Order Routing
Smart order routing (SOR) is an automated process of handling orders, aimed at taking the best available opportunity throughout a range of different trading venues. The increasing number of various trading venues and MTFs leads to a surge in liquidity fragmentation, when the same stock is traded on several different venues, so the price and the amount of stock can vary between them. SOR serves to tackle liquidity fragmentation, or even benefit from it. Smart Order Routing is performed by Smart Order Routers - systems designed to analyze the state of venues and to place orders the best available way, relying on the defined rules, configurations and algorithms. History of Smart Order Routing 1980s The forebears of today's smart order routers appeared in the late 1980s: "In an attempt to lock in the client order flow and free traders up from smaller trades, in order to handle the larger trades, many of the larger broker dealers began to offer a new service called or DOT. ''DOT'' b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federation Of Euro-Asian Stock Exchanges
The Federation of Euro-Asian Stock Exchanges (FEAS) is a non-profit international organization comprising the main stock exchanges in Eastern Europe, the Middle East, and Central Asia. The purpose of the Federation is to contribute to the cooperation, development, support and promotion of capital markets in Eurasia, although membership in the Federation is open to markets internationally. It was established on 16 May 1995 with 12 founding members. Currently, the FEAS has 43 members which include stock exchanges, post trade institutions, dealers associations, and regional federations from over 30 countries. The Federation's headquarters are located in Yerevan, Armenia. Membership Full members Full members of the Federation of Euro-Asian Stock Exchanges, include: * - Armenia Securities Exchange and the Central Depository of Armenia * - Sydney Stock Exchange * - Belarusian Currency and Stock Exchange * - Cyprus Stock Exchange * - Egyptian Exchange and thMisr for Central Clearing, D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Straight-through Processing
Straight-through processing (STP) is a method used by financial companies to speed up financial transactions by processing without manual intervention (straight-through). It was developed for equities trading in the early 1990s in London for automated processing in the equity markets. Payments Straight-through processing exists in numerous areas of financial services, such as payments processing. Payments may be non-STP due to various reasons such as missing information, information which that is not in a machine "understandable" form (such as name and address rather than a code), or human-readable instructions "Please credit urgently") or simply falls outside of rules for which the bank allows automatic processing (for example, payments of large value or in exotic currencies). Traditionally, making payments involves many departments in a bank. Both initiating a payment to be sent and processing a received payment may take days. In the past, payments were initiated through numer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
