Wall Street Letter VOL. XLV, NO. 29 - Sept. 16, 2013 | Page 8
NEWS
08
messages will ramp up more quickly than expected earlier this year. The options securities information processor updated the projections late last month as it does at least twice a year, based on data from the 12 US options exchanges. The utility told market data recipients firms need to be able to process 18.4 million messages per second (MPS) as of the beginning of 2014 and approximately 21.7 million MPS in January 2015 as compared to projections from earlier this year that anticipated firms would need to process just 19 million MPS by January 2015. The number of messages per day (MPD) expected will also grow, and that rate is expected to grow more slowly still than it was with the first projection of the year from OPRA (WSL Online, 1/25). OPRA now predicts MPD to grow to 25.8 billion by January and 27.7 billion by 2015. Previously, the utility said it expected MPD to grow to 28.7 billion by January 2015. OPRA has also added 100 millisecond projections to its review. Required capacity is expected to hit 3.1 million messages per millisecond (MPM) by 2014 and 4.3 million MPM by 2015, the utility said. It noted the 100-millisecond intervals are best used for projecting needs for message bursts. TRADING FIRMS
RJO to add to FX staff
RJ O’Brien and Associates plans to broaden its reach in the FX markets by hiring new traders specializing in this field, according to Matt Ardizzone, the new global head of FX sales for the firm. Ardizzone, who was hired in August, noted that he is looking for talent from both the buyside and sellside. “Our sales and trading desks currently use the Chicago office as the head office. In terms of attracting FX talent, we have to look in NY and Lon-
don,” said Ardizzone. “There is a lot of talent on the street and we are in a position to assess people, and fit them into the culture at a business level.” On the sales side, he is looking for individuals with institutional focus, depth of knowledge in CTA and FX as well as those who have experience managing portfolios. On the trading side, Ardizzone is aiming for established traders that can quote cash MATT ARDIZZONE and exchange-forglobal head of FX physical transacsales at RJ O’Brien and Associates tions. Focusing on growing the firm’s institutional FX presence, Ardizzone noted that his target clients will be commodity trading advisors (CTAs), hedge funds and FX portfolio managers. RJO is aiming to open an institutional trading desk in the NY office and focusing on global expansion through the London locale, according to Ardizzone. Ardizzone said he began having talks with RJO earlier this year about the potential for growth at the firm and how he would fit into that picture. “I knew RJ O’Brien as a competitor and was intrigued by their success and how they got to where they are in terms of futures and its brokerage business,” said Ardizzone, who garnered his prior experience at Prudential Jefferies and Nomura. Ardizzone will report to Phillip Fondren, the executive director and head of FX for RJO. POST-TRADE
SDRs cite potential challenges with SEF reporting
Swap data repositories are working through what they consider to be potential challenges to be faced once
swaps execution facilities are up and running, according to comments from industry participants at a Technology Advisory Committee meeting held by the CFTC last week. The SDRs, which have launched in compliance with Dodd-Frank Act rules, are currently collaborating amongst them ?[ ?\?[? ?] ?Y?[]????? ?\?[?^?H]H ??Y[? ?\?Y \? ?[\? ?XZ[?Z[?]H ]X[] K?[? ?\???H ? ]Y\?[??X??]]H ?[Y][?X\?\????^??X[?Y?[??\?X??] H?? ?ZY \?H\?H?[[??\? ?[????Y\?[??]H ?[Y][???H?Q????YH?[?K?8?'?[? [?H???] H ??H [?]?\??H? ?]\? ??H ?\?Y[? \?\?? ?[Y][?? [?H?YY ? [?\??[? H ???\??[??\? ? [?\??[? ?] ?[Y][??\?H[? X?K?\?H\?H ??[?\?[?? ?\?H ?[Y][?? ?[?HH?[[??K8?'H ?H ?ZY ???^?? ?Y?\?[??Y ?\]Z\?[Y[? ??Q?? ?[]?H ? ?\???H ^H??YH?[?H[? H ?[][ [?[?\? ?\]Z\?[Y[? ]X[\?? ?[?H ?\]Z\?Y ? ?\?]H?? HY?X?X?H? H ??\ ?8?'\?H ^H?[?? ] ?YH\??H? ?? ?Y\???'H ?H\??Y ?Y?\?[??[?? H?X? ]X[\??\?H ?\?[?? ?Y\????8?'\?H\?H ??[?\?[?? ]?YY ??H ???Y?[? [?\????8?)??X?]\?H ?]?] [?\??[?[?? ] ?H ?[]?HH]H ]X[] H\??YK8?'H ?H ?ZY ???X?H \ \? ?\?Y[??P?H?][ [ ??Y[?[?Y H ?[?X[??H[^H??Q? ?[\? ]??[[\X? ?\?[?? ?\]Z\?[Y[? ??][?? H?X? ][? \?\??? H???]?H?Y[? ?\\?[?? Z\? ?\?[\? ? ?[[?]Z\? ?\?[?? ? H?Q???^ [? ?8?'H [?? H\??YH\???[?? ??H ]Y? \?H\?H?[??\? ?] ]^\?[?? ?[[XZ?[???? ?[ H[? \? ?H\?H ??H[?H ]?[??K??? ?[ ^H[?HH[^H ?]?Q? ?\?[????'B??