TIBCO Software Selected By UniCredit Markets & Investment Banking For Algorithmic Trading
Firm's European Index Arbitrage Trading Business Rolls Into Production with TIBCO Rendezvous® Messaging Technology
STOCKHOLM, SWEDEN, February 7, 2008 – TIBCO Software announced today that UniCredit Group's Markets & Investment Banking Division has successfully implemented TIBCO Rendezvous® as the low latency messaging platform underpinning its European Index Arbitrage Trading business.
Employing complex high frequency trading strategies, the European Index Arbitrage Trading Group takes advantage of temporary discrepancies between the prices of securities comprising an index and the price of a futures contract on that index. Rendezvous has been implemented for low latency and scalable distribution of market and pricing data between the program trading systems underpinning the business' strategy.
"We are intent on maximising the effectiveness of our trading algorithms and strategies by advancing the speed with which our systems receive prices and related data from the markets," says Michael Bitton, Head of Index Arbitrage for Unicredit Markets & Investment Banking Division. "Using TIBCO, we are able to distribute this data downstream at the speed required by our high-frequency trading applications."
Rendezvous has proven to be one of the most reliable software products for real-time, broad data distribution with over a decade of production use. It has been deployed in more than 2,000 customer implementations to maximise uptime and performance. With the general availability of TIBCO Rendezvous 8.0, the latest release, financial firms can substantially reduce end-to-end application latency as well as gain linear scalability to address higher market data and trading volumes.
As one of the largest investment banking organisations in Europe with €3.2 billion in revenues in 2006, UniCredit Markets & Investment Banking was launched in July 2006 combining the global markets and investment banking services of Bank Austria Creditanstalt AG, Bayerische Hypo- und Vereinsbank AG and UniCredit Banca Mobiliare SpA into one brand and organisation.
Murat Sonmez, TIBCO executive vice president of Global Field Operations, said: "UniCredit Markets & Investment Banking Division's decision to implement TIBCO reflects our ability to address the high performance messaging requirements in support of innovative program trading strategies. This announcement further validates our leadership in the messaging software space and our commitment to providing the high-speed, low latency technology to empower financial services firms."
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Notes to Editors
About UniCredit Markets & Investment Banking
UniCredit Markets & Investment Banking, a Division of UniCredit Group, combines the securities trading and investment banking activities under one brand. UniCredit Markets & Investment Banking maintains the largest network of all investment banks on the European continent and combines enormous placement power with in-depth structuring know-how in the major markets as well as in the fast growing European emerging markets.
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About TIBCO
TIBCO digitised Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now®. TIBCO serves more than 3,000 customers around the world with offices in 25 countries and an ecosystem of over 200 partners. Learn more at www.tibco.com.
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