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Government Announces Financial Services Innovation Partnership

On Wednesday 28th August 2013 the federal government announced that SIRCA and its partners were successful in their bid for the leadership of the Financial Services Innovation Partnership. The announcement was made in person by Senator Kim Carr, Federal Minister for Innovation, Industry, Science and Research at a special event at the SIRCA offices.

Trading Technology Australia is a core partner to the SIRCA-led consortium, which also includes Boston Consulting Group, City of Sydney, University of Sydney, Gilbert and Tobin, FINSIA, Australian Centre for Financial Studies, NICTA, the New South Wales Government, UTS and UNSW.

The full press release can be found here.

TTA becomes exclusive agent for Markov Processes International

TTA has signed an agreement with Markov Processes International LLC (MPI) to offer MPI’s leading fund analytics to the Australian funds industry. Based in Summit, New Jersey, MPI have for over 20 years been pioneers of the Returns Based Style Analysis created by Nobel laureate William Sharpe and have advanced the field with their patented Dynamic Style Analysis. MPI also features common analytics such as Modern Portfolio Theory within their user-friendly interface which is tightly integrated with data from many vendors. MPI offer their capability as packaged software or consulting services, and more information can be found on their website


Luminous (AMX) Server Demonstration 8-11 April 2013

To kick-off the ATT/TTA partnership, ATT’s CEO will be visiting Sydney in April 2013. TTA and ATT will be hosting a series of lunchtime product demonstrations and presentations for the Luminous Server from Monday, 8th April to Thursday, 11th April. The presentations will commence at 11:00 and a light lunch will be provided for those attending. Attendance is free but places are limited and reservations are a must.

Details of the Demonstration/Presentation are:

Title: Luminous Server Demonstration and Presentation
Time: 11:00 to approx. 13:00
Location: TTA Offices, Level 6, 321 Pitt Street, Sydney NSW 2000
Registration: Free. If you would like to come along, please email or call 02 8281 5300 to reserve your place.

TTA Signs Exclusive Distribution Agreement with ATT

Trading Technology Australia Pty Ltd (TTA) has signed an exclusive agreement with Swiss company AudioText Telecom AG (ATT) to market and support their alarm management solutions in Australia and New Zealand. The agreement will commence on 1st March 2013 and will be marked in April by a visit to Sydney of ATT’s CEO Mr. Nader Afshari. TTA will be marketing AMX under the name Luminous.

During Mr. Afshari’s week long visit to Sydney, TTA will be organizing a series of lunch time seminars to allow potential clients to inform themselves about the range and benefits of ATT’s alarm management solutions. (For details: Luminous/AMX Server Demonstrations)

ATT’s AMX (Luminous) Server allows corporations large and small to respond quickly and efficiently to risk events that have the potential to adversely impact their businesses. The AMX (Luminous) Server will instantly respond to e.g. fire, water or equipment failures to mobilise groups or individuals within the organization to deal quickly with those potentially catastrophic events. In all such scenarios, the quicker a business can respond, means that harm to persons and infrastructure can be minimised. This AMX (Luminous) functionality can also be used to manually notify or alert individuals, small groups or even whole communities quickly and efficiently.

ATT has successfully deployed the AMX (Luminous) Server into the health and aged care industries, as well as in hotels and large corporations. The AMX (Luminous) Server is ideally suited to all those organisations and situations where the safety of individuals, groups and infrastructure is of paramount importance. A number of internationally renowned companies have already deployed the AMX (Luminous) in their businesses.

Download the PDF version of the press release here.

To find out more about Luminous, please visit the new Luminous Alarm Management Server section now for more information.

The First Global Financial Crisis of the 21st Century

 Andrew Felton and Carmen M. Reinhart have edited a collection of articles relating to the current global financial crisis.


TTA presents FPGA at QMF 2008

On 17th December 2008, TTA presented to the Quantitative Methods in Finance conference on the topic of using Field Programmable Gate Arrays (FPGAs) to accelerate Value at Risk (VaR) calculations. The presentation was a combined effort of TTA, nabCapital and MathRidge who are working together on a proof of concept for commodity VaR applications.


TTA will offer its Mark-to-Futures Forward Curve (MtFFC) via the d-cyphaTrade website

In collaboration with d-cyphaTrade, TTA will offer its half hourly MtFFC via a subscription service on the d-cyphaTrade website. The MtFFC uses futures data supplied by d-cyphaTrade and incorporates all the necessary features of the spot market such as seasonality, peak-offpeak relationship and observable abrupt price changes. Unlike OTC products, futures are credit-free and market traded, so all prices are completely disentangled from the transaction counterparties. Exponential growth in futures trading volumes provides additional reliability to MtFFC-underpinned forecasting.

More detailed information will be made available on this web site soon. In the interim, please contact us.

Three “Failures” in Financial Markets

“Statistics are like a bikini. What they reveal is suggestive, but what they conceal is vital” – Aaron Levenstein

On the 29 of March 1900 at the Sorbonne in Paris a young Ph.D. student was defending his doctoral dissertation titled “The Theory of Speculation”. It was a mathematical treatment of the observed fluctuations of French government bonds and their options. The main conclusions of the study were that:

  1. there are no discernible trends in the market
  2. the market has absolutely no memory of what it has done in the past
  3. the difference of the logged returns are normally distributed

To this date these results still stand as the null hypothesis of modern finance and economics.


A Non-Quant Guide to Constant Maturity Swaps

A Constant Maturity Swap (CMS) is a floating/floating interest rate swap. In many ways, it is similar to a Basis Swap, in which you agree to pay a notional floating rate based on one reference rate (for example, quarterly BBSW) while receiving a floating rate with a different frequency (for example, semi-annual BBSW). While it is possible to have a cross-currency CMS, we’ll keep it simple here and consider only domestic swaps.


Observing the Risk

A Brief Look at Energy Risk Management

I recently had the good fortune to work on an especially challenging and interesting client engagement in the field of Energy Risk Management. Our client was an electricity retailer, not the largest in the state, but not the smallest either. The challenges that this client faced appear to be shared amongst the majority, if not all, of the energy retailers in New South Wales. With Full Retail Contestability (FRC) now in place, and the Enron memories (and lawsuits) still fresh in everyone’s mind, Energy Risk Management is increasingly being placed in the spotlight. With such a high political profile and large financial stakes, electricity supply and sales must be insulated from disasters arising from poor risk management. Any problems with systems, methodologies and/or procedures had to be identified and plans put in place to address such problems.