Last checked at 20 May 2014 07:00
First Derivatives plc
Yieldbroker Pty Limited chooses First Derivatives' Delta Surveillance
First Derivatives plc (FD) (AIM:FDP.L, ESM:FDP.I) a leading provider of software and consulting services to the capital markets industry today announces the implementation of its Delta Surveillance solution by Yieldbroker Pty Limited (Yieldbroker) in Sydney, Australia.
Yieldbroker is an electronic marketplace designed for institutional investors and banking participants trading in Australian and New Zealand debt securities and derivatives. Yieldbroker provides an electronic trading platform and was the first fixed income e-venue to be awarded an Australian Market Licence in 2004. The implementation of Delta Surveillance enables Yieldbroker to continue to ensure a fair, orderly and transparent trading environment for investors by providing the ability to detect in real-time any anomalous or potentially prohibited trading activity on the platform. It also enables it to meet its regulatory obligations for the surveillance, reporting and monitoring of derivatives and OTC trading.
In selecting Delta Surveillance, Yieldbroker looked for a solution that would provide not only for today's known requirements but also have flexibility for accommodating future developments in surveillance techniques and provide capacity for increased trading volumes. The solution is based on the Delta Surveillance solution implemented by the Australian Securities and Investments Commission (ASIC) to meet its statutory obligation to oversee the overall Australian licensed financial market.
Richard Swift, chief executive at Yieldbroker commented: "Our selection criteria demanded a solution that would be comprehensive in functionality, flexible in operation and could be rapidly implemented whilst also able to accommodate increases in both trade volumes and the sophistication of the rules and alerts we want to define in the future. Delta Surveillance clearly meets all these criteria. The fact that the solution is already used by the Australian regulator attests further to its strong credentials. "
Rob Hodgkinson at FD commented: "We are delighted that Yieldbroker has selected First Derivatives for their surveillance requirements. The solution is ideally positioned for their need to take data from multiple sources and across multiple asset classes to provide real-time alerts on any unusual activity. The flexibility and architecture of Delta Surveillance makes the implementation and rollout of the solution very rapid, predictable, on-time and to budget."
First Derivatives plc Brian Conlon, Chief Executive Officer Graham Ferguson, Finance Director | +44(0)28 3025 2242 www.firstderivatives.com |
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Charles Stanley Securities(Nominated Adviser& Broker) Russell Cook Carl Holmes | +44 (0)20 7149 6000 |
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Goodbody Corporate Finance(ESM Adviser) Finbarr Griffin | +353 1 667 0420 |
Goodbody Stockbrokers(Broker) Linda Hickey |
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Walbrook PR Bob Huxford Helen Cresswell | +44 (0)20 7933 8780 bob.huxford@walbrookpr.com helen.cresswell@walbrookpr.com |
About Yieldbroker
Founded in 1999 as a co-operative venture between leading debt market participants, Yieldbroker was formed to provide the systems infrastructure, regulatory framework and compliance oversight necessary to facilitate the growth of orderly electronic marketplaces in Australian and New Zealand debt securities and derivatives.
Commencing operation in 2001, Yieldbroker's Dealer & Client market has become the dominant electronic trading platform in the local debt marketplace. An Interdealer market was added to the platform in 2007 that facilitates interbank trading in debt securities and derivatives. Yieldbroker also operates an auction system that is utilised by both the AOFM and NZDMO for the issuance of government bonds, bills and notes. In addition, Yieldbroker is utilised by the RBA to conduct long-end liquidity operations and by a number of semi-government borrowers.
For more information about Yieldbroker, please visit www.yieldbroker.com
About First Derivatives
First Derivatives is a global provider of software and consulting services to the financial services industry. With over 17 years' experience working with leading financial institutions, it continues to deliver technologically advanced, award winning products and services that anticipate and respond to the evolving needs of global capital markets. First Derivatives currently employs over 900 people worldwide and counts many of the world's top investment banks, brokers and hedge funds as its customers. It has operations in London, New York, Stockholm, Singapore, Hong Kong, Sydney, Toronto, Philadelphia, Dublin and its headquarters in Newry.
For further information please visit www.firstderivatives.com