Wall Street Letter Volume XLV Issue 27 | Page 3

NEWS 15 – 21 AUGUST 2013 TRADING FIRMS Published by Pageant Media London Thavies Inn House London EC1N 2HA T [phone] F [phone] EDITORIAL Jeanene Timberlake Managing editor [phone] [email protected] Sean Creamer Reporter [phone] [email protected] Gwyn Roberts Group head of content [phone] [email protected] Indira Peters-DiDio Data manager [phone] [email protected] PRODUCTION Claudia Honerjager Head of production c.honerjager@ pageantmedia.com New York 1441 Broadway Suite 3024, NY 10018 T [phone] F [phone] COMMERCIAL Lucy Churchill Group commercial manager [phone] [email protected] Tracey Carey Content sales manager [phone] [email protected] EVENTS Beth Hall Head of events [phone] [email protected] DISTRIBUTION Fay Muddle Circulation manager [phone] [email protected] PAGEANT MEDIA Charlie Kerr Chief executive Printed by The Manson Group Victor Securities testing VaR, expecting Q4 release Victor Securities is testing a value-atrisk (VaR) capability it plans to add to its brokerage business and thirdparty technology platform later this year, according to Rob Newhouse, president. In an interview with WSL, Newhouse said the new technology is expected to roll out by the end of this year. The VaR capability has already been implemented into the vendor’s system but it has not been released to the clients’ front end interfaces. Newhouse noted implementation of VaR is in the initial testing stages internally, but the firm is making strides towards opening testing to a select group of clients to allow them to test drive the function. Victor Securities’ current trading platform, which offers risk management on a post-trade basis, has the capacity to detect risk, according to Newhouse. He noted that the platform utilizes theoretical valuing and stress testing based on client portfolios to garner risk data. To offer the VaR calculation Victor Securities will add a module that takes calculates VaR and generates an extra field of data that is sent out with the rest of the output. “The flexible nature of the platform allows for new addons,” Newhouse said. The push for this project by the prime brokerage began earlier this year in response to client concerns for a deeper reach into risk management, he said. There has been a sharp increase in client demand for ways to measure risk, he noted, adding the inclusion of this function is needed as “current clients and prospective ones are becoming more concerned about precisely calculated risk management.” TECHNOLOGY Axiom COO to take reins for growth Gordon Elliot, newly appointed chief operating officer, is taking the reins at Axiom SL as it relates to the company’s future growth, he said in comments to WSL. Elliot, who was most recently at UBS, joined the vendor a few months back to take on the role, which is a new one at the company, according to Alex Tsigutkin, CEO. Tsigutkin noted that the software company is primed for significant growth in light of the amount of regulation being written that focuses on risk management and increased transparency. The vendor provides software platforms to support the buyside and sellside with a number 03 Sub-editor Eleanor Stanley Sub-editor Luke Tuchscherer Sub-editor ISSN# 726-98790 © 2013 Pageant Media Ltd. All rights reserved. COPYRIGHT NOTICE: No part of this publication may be copied, phot ????????????????????????????????????????????A??????5?????e?????????????????? ?????????????????????????????????????????????? ???????1?????UM???????????Y?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????e?????((??() =9Q%9U???()Q???????)?????????????????????????)]10?MQIP?1QQH((????????()Q???????????????????????????????????????????????????????U?????????????????????????????????????????????????????????????????(+?q]????????????????????????????????????????????????????????????????????????????????????????????????????????]????????????????t??????????qQ????????????????????????????????????????????????????????????????????????????????????????????????????????????t?%???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????() =I%L?%1eYM-d???????????????????%M?e??????????????((