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55

Annual Report 2014 BME

IT & Consulting

VISUAL TRADER

It expanded its service range to enable clients to meet

the ESMA regulations and is, therefore, integrating the

BME group’s routing and post-trading services.

In 2014, Visual Trader continued growing in terms

of users, terminals and revenues. In the second

quarter, it approved an app to meet the ESMA regu-

lations regarding the market access control systems,

providing access to the SIBE Smart platform so that

members can use VT’s ultra low-latency connection

(nanoDriver) and configure the mandatory filters and

a number of additional filters for the orders received

from their clients.

Another new feature was the Application Program-

ming Interface (API) so that members can automatically

control the filters from their own risk control system.

In 2014, Visual Trader launched a new version of the

VisualRisk system, enabling users to establish risk

management policies based on the composition of their

portfolio and the cash each client holds in their account.

Visual Trader unifies the group’s routing systems and

integrates them with BME’s post-trading services to

provide members, settlement entities and custodians

an integrated package of market access, back office

and depository services. These apps will be connected

to the new clearing management service called BME

Securities Solutions in October 2015 as a result of the

entry into force of the Registration, Clearing and Settle-

ment System Reform.

With the objective of meeting the growing demand for

a special type of transaction whose purpose is to obtain

the maximum priority of the orders sent to the market

in the opening auction, Visual Trader implemented in

the first quarter of 2014 the Fast Open service, which

automatically enters the orders when the opening

auction starts so that they are placedwith themaximum

possible priority in the securities’ order book.

Visual Trader is finalising the work to connect the SIBE

Smart from London, which should be implemented at

the end of January 2015, with the opening of a third

BME access hub. The new hub, located at Equinix’s

facilities in the City, will reduce the London-Madrid

latency by 20% and provide greater speed, quality and

access to the Spanish spot and derivatives markets,

thus increasing their liquidity and bringing London’s

financial institutions even closer to BME.

Visual Trader continues to focus on innovative tech-

nology since it implemented the maXCloud platform,

whose first product was a terminal to access the

Order Management System based on HMTL5, the new

Internet browser standard, which will connect new

users to the system and significantly reduce installa-

tion and maintenance costs.

Infobolsa: looking towards Latin America

In 2014, Infobolsa maintained its position as Spain’s

leading supplier of financial information services. It

also expanded the service range provided in Latin

America, consolidating its presence in Mexico and

starting commercial activities in other countries in

the region.

In 2014, it arranged a contract with the Colombian

stock exchange to supply its information screens and

develop native iOS apps so that its services are avail-

able in multiple channels.

In 2014, Infobolsa implemented the first online broker

fully designed and developed under the “Responsive

Web Design” standards at a foreign institution oper-

ating in Spain, enabling over 300,000 clients to access

the financial information tools from PCs, tablets and

smartphones. It also developed and implemented

the online mobile broker for other institutions and

set up new information websites in Andorra.

Openfinance, the subsidiary which develops, imple-

ments and maintains innovative technological solu-

tions for financial advice and portfolio management,

maintained its leading position in the Spanish market

in 2014, increasing its client base and its presence

where it already existed.

In 2014, Openfinance validated the suitability of

its technological solution for the Chilean, Mexican

and Colombian markets since it was purchased by

four major financial institutions in those countries,

increasing its client numbers to six in Latin America

and providing a promising outlook for 2015.

As a result of its performance in 2014, Openwork-

place is now used by more than 70 clients and

60,000 financial advisory users which, together with

the projections for the coming years, has led to the

opening of new Openfinance headquarters in the

financial centre of Valencia.