Difference between revisions of "Patsystems Plc"

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{{Infobox_Company   
 
{{Infobox_Company   
 
| company_name = Patsystems Plc
 
| company_name = Patsystems Plc
| company_logo =  [[Image:Patsystems May09.jpg]]
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| company_logo =  [[Image:Patsystems May09.jpg]]  
| key_people =  [[Richard Last]], Chairman/Non-Executive Director; [[David Webber]], Chief Executive 
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| foundation =    1994
 
| foundation =    1994
 
| location =      London, with offices in Chicago, New York, Singapore, Tokyo, Sydney, Hong Kong
 
| location =      London, with offices in Chicago, New York, Singapore, Tokyo, Sydney, Hong Kong
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Patsystems<ref>{{cite web|url=http://www.patsystems.com |name=Patsystems Website |org=Patsystems PLC |date=December 7, 2007}}</ref> is a [[trading]]-solutions provider best known for its globally distributed [[J-Trader]] [[front-end]] [[trading screen]]. Patsystems is an [[AIM]]-[[listed]] company incorporated in England and Wales (registered under number 4498002).
 
  
Patsystems also offers a network of [[exchange]] connectivity, [[risk management]] solutions and an [[API]] for third-party solutions providers. Patsystems' [[matching engine]] powers seven [[exchange]]s globally, including the ICDX of Pakistan, the [[TurkDex]], and the [[Agricultural Futures Exchange of Thailand]] (AFET).<ref>{{cite web|url=http://www.patsystems.com/exchangeSolutions/Overview.aspx|name=Exchange Solutions|org=Patsystems Plc|date=January 31, 2008}}</ref>
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Patsystems, a subsidiary of [[ION]]<ref>{{cite web|url=http://www.fointelligence.com/Article/2982277/Ion-Trading-finalises-Patsystems-buy-out.html|name=ION Trading finalises Patsystems buyout|org=FOW|date=February 15, 2013}}</ref>, is a [[trading]]-solutions provider best known for its globally distributed [[J-Trader]] [[front-end]] trading screen.
  
== People ==
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Patsystems also offers a network of [[exchange]] connectivity, [[risk management]] solutions and an [[API]] for third-party solutions providers. Patsystems' [[matching engine]] powers seven [[exchange]]s globally.
*[[David Webber]]<ref>{{cite web|url=http://www.patsystems.com/whypats/keypersonnel.aspx|name=Patsystems Key Personnel|org=Patsystems PLC |date=May 11, 2010}}</ref> joined the company as CEO in January of 2006, replacing [[Kevin Ashby]]. Webber was formerly the chief executive of [[AttentiV Systems Group]]. <ref> {{cite web|url = http://www.thisismoney.co.uk/investing/share-tips-fund-tips/article.html?in_article_id=473020&in_page_id=23&in_author_id=1822|name = Midas Extra: Kalahari Minerals & Patsystems|org = ThisisMoney.co.uk|date = July 20, 2009}}</ref>  Webber was featured in a [http://www.marketswiki.com/mwiki/Five_Minutes_With_David_Webber  March of 2009 "Five Minutes" piece] written by [[MarketsWiki]] editor [[Sarah Rudolph]]. 
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*[[Martin Thorneycroft]]<ref>{{cite web|url=http://www.patsystems.com/whypats/keypersonnel.aspx|name=Patsystems Key Personnel|org=Patsystems PLC |date=May 11, 2010}}</ref> is group finance director.
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*[[Richard Last]]<ref>{{cite web|url=http://www.patsystems.com/whypats/keypersonnel.aspx|name=Patsystems Key Personnel|org=Patsystems PLC |date=May 11, 2010}}</ref> is the Chairman/Non-Executive Director.
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*[[Graeme Neilly]]<ref>{{cite web|url=http://www.patsystems.com/content.asp?menuid=23&submenuid=31&pageid=31&menuname=Key+personnel&menu=sub |name=Patsystems Key Personnel |org=Patsystems PLC |date=December 7, 2007}}</ref> is director, global account management.
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*[[Barry White]]<ref>{{cite web|url=http://www.patsystems.com/content.asp?menuid=23&submenuid=31&pageid=31&menuname=Key+personnel&menu=sub |name=Patsystems Key Personnel |org=Patsystems PLC |date=December 7, 2007}}</ref> is regional director, Asia Pacific.
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*[[Sean Barry]]<ref>{{cite web|url=http://www.patsystems.com/content.asp?menuid=23&submenuid=31&pageid=31&menuname=Key+personnel&menu=sub |name=Patsystems Key Personnel |org=Patsystems PLC |date=December 7, 2007}}</ref> is the Managing Director for the Americas.
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*[[Paul Murphy]], Global Head of Customer Service
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*[[Katherine Murray]], Global Head of Marketing
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== Commentary ==
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*[[David Webber]] was interviewed for [[Markets Media]] Online in March of 2009 regarding the [[blue chip]] standard.  [http://www.marketsmediaonline.com/news_details.htm?wP=1&wPI=1&cN=3256\  Redefining the Blue Chip]
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*[[David Webber]] appeared on CNBC talking about the firm's 82 percent rise in [[adjusted pretax profit]] for the first half of 2009. [http://www.cnbc.com/id/15840232?video=1205498130&play=1/  David Webber on CNBC]
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== History ==
 
== History ==
Patsystems was founded in 1994 by a group of [[derivatives]] [[trader]]s and technology professionals at a time when the [[futures trading|futures]] markets were beginning to migrate from physical [[trading floor]]s to an electronic model. [[Tom Theys]], a former [[floor trader]], designed the Patsystems software while working at [[Liffe]]. The idea was based around a hand-held device that would put [[order]]s into other [[market]]s with an interface that would connect the hand-held to the [[DTB]] (the forerunner to [[Eurex]]) to facilitate [[arbitrage]] with [[Liffe]]. That led to offering clients direct access to [[exchange]]s through the Internet; the software Theys designed would then be distributed to [[local]]s in [[dealing room]]s or in their homes. Unlike other [[ISV]]s at the time, Theys and the other Patsystems founders were interested in bringing direct access to [[retail]] as well as [[institutional]] customers.  
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*Patsystems was founded in 1994.
 
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*The company floated on the [[London Stock Exchange]] (LSE) in March 2000 and re-[[listed]] on the [[Alternative Investment Market]] in February 2003. The company was de-listed on  28th February 2012.
Eventually, the company was approached by [[Investec]], a South African [[bank]] that wanted to take Patsystems [[public]], which it did. Patsystems raised $80 million in an [[IPO]] in March 2000. [[Thomas Theys| Theys]] left Patsystems in 2003.
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*Patsystems [[acquire]]d [[Tamesis]] August 2005.
 
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(The company [[floated]] on the [[London Stock Exchange]] (LSE) in March 2000 and re-[[listed]] on the [[Alternative Investment Market]] in February 2003.)
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*[[Acquire]]d [[Tamesis]] August 2005. The [[acquisition]] gave Patsystems access to real-time trade capture, [[valuation]] and [[risk management system]]s for the [[structured finance]] and [[credit derivatives]] market.
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*Maiden [[dividend]] declared in 2007.
 
*Maiden [[dividend]] declared in 2007.
*In July of 2011, Patsystems acquired [[Mixit Inc.]], a provider of [[Order Management Systems]] and [[Execution Management Systems]].  The acquisition expands Patsystems reach into equities and options.  <ref> {{cite web|url = http://low-latency.com/article/patsystems-acquires-mixit-%C2%A3175m|name = Patsystems Acquires Mixit for 17.5 million pounds|org = low-latency.com|date = July 22, 2011}}</ref>
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*In July of 2011, Patsystems acquired [[Mixit Inc.]].
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*Patsystems was acquired by [[ION Trading]] in February 2012.
  
 
== Products ==
 
== Products ==
Patsystems provides trading software for more than 10,000 users through hundreds of [[broker]]s around the world. More than 50 firms deploy Patsystems technology, including eight of the top 10 [[futures commission merchant]]s.
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*[[J-Trader]]; the most widely used electronic front-end for ETD execution.
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*[[Pro-Mark]]; a powerful front-end for high volume professionals.
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*[[Patsystems Risk Informer]]; for real-time risk management.
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*[[SyOMS]]; enables the trading of non-exchange supported order types.
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*Patsystems [[API]]; a fully-functioning interface to Patsystems' trading system.
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*[[Patsystems XConnect]]; full benefits of Patsystems' trading solution without the requirement of outsourced technology infrastructure or technical support resources.
  
Patsystems offers clients a choice of three front ends. Besides the well-known [[J-Trader]], the company has more recently introduced [[Pro-Mark]] and [[IQ Trader]].
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==References==
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<references/>
  
Patsystems provides tailored solutions targeted at different types of client, including solutions for [[retail]] [[trader]]s, professional [[trader]]s, API specialists, and [[risk manager]]s.
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== Resources ==
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*[http://www.linkedin.com/companies/patsystems  Patsystems' profile on LinkedIn]
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*[http://www.patsystems.com/default.aspx Patsystems website]
  
*[[Pro-Mark]] is an advanced application designed for professional, high-[[volume]] [[trader]]s. It was built for high-speed trading, in particular of complex strategies such as [[multi-leg spread]]s. [[Pro-Mark]]'s key features include intuitive trading and intelligent [[order]] management, sophisticated [[spreading]] tools, Excel integration, technical [[charting]], and advanced [[options]] functionality. Pro-Mark was named "Technology Product of the Year" in the 2008 [[FOW]] Awards.  <ref> {{cite web|url = http://www.automatedtrader.net/algo-trading-%20%20%20%20%20%20%20%20%20%20%20%20%20%20news%20%20%20%20%20%20%20%20%20%20%20%20%20%20-258.xhtm|name = Patsystems Signs Contract with Nomura Securities International, Inc|org = Automated Trader|date = July 20, 2009}}</ref>
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[[Category:Patsystems]]
*[[J-Trader]], created in 1999, followed a resident application version with similar functionality. It is one of the most widely used [[front-ends]] in the [[derivatives]] trading business and provides direct access to all the leading exchanges. [[J-Trader]] offers multi-market, real-time trading worldwide, as well as [[pre-trade risk management]] and the trading of [[futures contract|futures]], [[options]] and [[forex]] all on one screen.
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[[Category:ION Trading]]
*[[IQ Trader]] is designed for technical traders (chartists). It contains tools that analyze and interpret markets to help traders choose the best strategies, enabling them to perform sophisticated operations without needing programming skills. It offers fast, easy backtesting and guarantees seamless automation. It also connects to a large number of [[data provider]]s.
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*[[SyOMS]] is Patsystems' Synthetic Order Management System that enables the trading of non-exchange supported order types. These include [[Iceberg]], Ghost, and Bracket orders. SyOMS Pro also supports With a Tick, OCO, and Time-Sliced orders.
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*[[Patsystems Risk Informer]] provides sophisticated, real-time risk management across all [[asset class]]es. It calculates [[margin requirement]]s and aggregates trades on a real-time basis, giving a consolidated view as the client trades. The result is a comprehensive picture of risk to satisfy the needs of all traders and [[risk manager]]s. 
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*[[Patsystems Risk Alert]] is Patsystems’ newly implemented pre-trade risk management solution. Risk Alert offers clients the ability to configure and manage an extensive set of comprehensive risk checks, helping to prevent [[risk]] before the [[trade]] even takes place. 
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*[[Patsystems X-Link]] is a software product that allows customers to trade on [[remote exchange]s without becoming a [[member]]. It is not a fixed network; rather it bridges separate Patsystems trading domains and systems, for example letting a customer trade on a Chicago system and a London system at the same time.
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*Patsystems [[API]]<ref>{{cite web|url=http://www.patsystems.com/content.asp?menuid=25&submenuid=40&pageid=40&menuname=Trading+API&menu=sub |name=Patsystems’ FIX Trading Gateway |org=Patsystems PLC |date=December 7, 2007}}</ref> is a full-function interface to Patsystems' trading system; Patsystems uses it to service its own [[front-end]]s. The [[API]] can be used by third parties who want to write their own [[front end]] to their exact requirements, or [[trader]]s who want to integrate with [[charting]] packages or algorithmic trading systems. Parties who are are familiar with the [[Financial Information Exchange (FIX) protocol]], the industry's leading protocol for [[financial trading interface]]s, can connect to [[Patsystems' FIX Trading Gateway]], which supports an extended [[FIX.4.2]] message set. [[FIX]] allows parties to run on whatever [[platform]] they desire.
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*[[Patsystems XConnect]] is Patsystems' fully-managed application service provider (ASP) offering that provides the full benefits of the Patsystems trading solution without the requirement for clients to [[invest]] in a technology infrastructure or technical support resources.
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*[[J-Simulator]] is a training tool that enables users to "test trade" within a simulated trading environment.
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== Recent Initiatives ==
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=== Patsystems in Malaysia ===
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Patsystems now offers direct market access to [[Bursa Malaysia]]. Customers using Patsystems will now have electronic access to Malaysian flagship products such as [[Malaysian Crude Palm Oil futures]]. In related news, [[Phillip Futures]] has taken a full installation of the Patsystems infrastructure in Kuala Lumpur. <ref>{{cite web|url=http://www.patsystems.com/news.asp?newsid=121&view=yes&pageid=26&menu=sub&menuname=News+and+Events|name=Press ReleaseExchange|org=Patsystems Plc|date=May 12, 2009}}</ref>  <ref> {{cite web|url = http://www.fointelligence.com/Article/2200144/Bursa-Malaysia-hopes-for-volume-boost-as-Patsystems-connects.html|name = Bursa Malaysia Hopes for Volume Boost as Patsystems'|org = Fointelligence|date = July 20, 2009}}</ref>  <ref> {{cite web|url = http://www.btimes.com.my/Current_News/BTIMES/articles/20090514003333/Article/index_html|name =  Patsystems offers e-trading of futures|org =BusinessTimes|date = July 20, 2009}}</ref>
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In September of 2009, Patsystems announced a signed software license agreement with [[TA Futures Sdn Bhd]], a licensed Futures Broker of [[Bursa Malaysia]].<ref> {{cite web|url = http://www.patsystems.com/news.asp?newsid=141&view=yes&pageid=26&menu=sub&menuname=News+and+Events|name = Patsystems Signs Contract with TA Futures Sdn Bhd|org = Patsystems|date = October 2, 2009}}</ref>
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In March of 2010, Patsystems was selected as the technology provider for Bursa Malaysia’s new [[front-end]] for derivatives trading, known as Order Management System (OMS). <ref>{{cite web|url=http://www.patsystems.com/mediaroom/news/10-03-10/Bursa_Malaysia_Derivatives_Selects_Patsystems_to_provide_OMS_for_derivatives_trading.aspx|name=Bursa Malaysia Derivatives Selects Patsystems to provide OMS for derivatives trading|org=Patsystems|date=May 11, 2010}}</ref>
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=== Patsystems in Brazil ===
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Patsystems completed the [[BM&F]] certification process and is therefore a [[Certified ISV]] of the exchange, offering [[direct market access]] to all [[BM&F]] products. Patsystems also offers access to BM&F products via [[CME Globex]], the [[electronic trading platform]] of [[CME Group]]. This link allows existing [[CME Group]] customers to trade the main BM&F [[derivatives]] [[contract]]s [[listed]] on the [[Globex]] platform.<ref>{{cite web|url=http://www.patsystems.com/news.asp?newsid=108&view=yes&pageid=26&menu=sub&menuname=News+and+Events|name=Press ReleaseExchange|org=Patsystems Plc|date=February 19, 2009}}</ref> <ref> {{cite web|url = http://www.financetech.com/feed/showArticle.jhtml?articleID=214500556&cid=RSSfeed_FTN_All|name = Patsystems Gains Access to Brazilian Market|org = FinanceTech|date = July 20, 2009}}</ref>
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On [[Sept. 29]], Patsystems announced that they had signed a Software License Agreement with their first client in Brazil, [[Flow Corretora]].<ref> {{cite web|url = http://www.patsystems.com/news.asp?newsid=143&view=yes&pageid=26&menu=sub&menuname=News+and+Events|name = Patsystems Signs First Brazilian Customer, Flow Corretora|org = Patsystems Press Release|date = October 2, 2009}}</ref>
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=== Patsystems in Hong Kong ===
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On June 25, 2008, it was announced the newly formed [[Hong Kong Mercantile Exchange]] (HKMEx) had selected Patsystems for both its [[front-end]] [[trading model]] and [[risk management system]]. 
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HKMEx would offer Patsystems’ J-Trader and Pro-Mark. Pro-Mark functionality includes options trading capability, [[charting]], Excel integration, [[spreading]] tools and functionality designed specifically for energy traders.
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HKMEx would also utilize Patsystems’ post-trade [[risk management]] system, [[Risk Informer]]. Risk Informer will manage [[margin]] risk for all [[asset]] classes traded on HKMEx. Risk Informer will calculate [[margin requirement]]s in real-time, using standard margin methodologies including SPAN, TIMS, and [[proprietary margin calculation]]. It aggregates trades on a real-time basis and provides a consolidated view in real-time as trades are [[execute]]d. 
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=== Continued Growth in Hong Kong ===
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Patsystems announced that [[Guotai Junan Futures]] (Hong Kong) Ltd (Guotai) has signed a deal to implement and deploy Patsystems technology in Hong Kong.
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Guotai would take a full installation of the Patsystems solution. The solution would provide Guotai and its customers with direct access to [[CME]], [[CBOT]], [[NYBOT]], [[ICE]], [[LIFFE]], [[LME]], [[Eurex]], [[SGX]], [[OSE]], [[KRX]], and [[HKEX]] via the [[Patsystems X-Link]], which enables Patsystems’ customers to interconnect to a receiving [[broker]].
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=== Patsystems in Indonesia ===
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Patsystems was selected as the preferred technology provider for the newly established [[Indonesia Commodity & Derivatives Exchange]] (ICDX) on Sept. 8, 2009. Patsystems will provide ICDX with trade matching engine, [[clearing]] and [[settlement]] platform, pre-trade risk management and the front-end execution platform.<ref>{{cite web|url=http://www.exchange-handbook.co.uk/index.cfm?section=news&action=detail&id=85088|name=Patsystems Selected As Technology Provider for Indonesia Commodity And Derivatives Exchange|org=Patsystems|date=September 8, 2009}}</ref>
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===Patsystems in Singapore ===
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In September of 2009, Patsystems announced [[connectivity]] to the [[Singapore Commodity Exchange]] (SICOM) enabling customers to trade in the SICOM rubber markets. <ref> {{cite web|url = http://www.patsystems.com/news.asp?newsid=140&view=yes&pageid=26&menu=sub&menuname=News+and+Events|name = Patsystems Announces Connectivity to the Singapore Commodity Exchange (SICOM)|org = Patsystems|date= October 2, 2009}} </ref> They also announced that they will provide connectivity to the [[Singapore Mercantile Exchange]] (SMX) when the [[exchange]] launches later this year. <ref> {{cite web|url = http://www.patsystems.com/news.asp?newsid=142&view=yes&pageid=26&menu=sub&menuname=News+and+Events|name = Access the Singapore Mercantile Exchange (SMX) Through Patsystems|org = Patsystems|date = October 2, 2009}}</ref>
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===Patsystems in Taiwan===
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In November of 2009, Patsystems announced connectivity to the [[Taiwan Futures Exchange]] (TAIFEX) enabling traders access to the [[MSCI Taiwan Index]] & TAIFEX Futures, Spreads and Options. <ref> {{cite web|url = http://www.patsystems.com/news.asp?newsid=148&view=yes&pageid=26&menu=sub&menuname=News+and+Events|name = Patsystems Announces Connectivity to Taiwan Futures Exchange |org = Patsystems|date = November 3, 2009}}</ref>
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=== Patsystems Risk Informer ===
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On June 24, 2008, announced that [[GH Financials]] had selected Risk Informer to be its global post-trade [[risk]] system.
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The system will manage global risk for all exchange trade [[futures]] and [[options]] at [[GH Financials]]. The solution would monitor clients’ aggregated risk in real-time across all the clients’ trading activities and will provide both real-time monitoring and automatic notification of [[limit]] breaches.
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Risk Informer is a standalone solution built to monitor and manage risk in real-time on multi-[[asset class]]es executed through any [[trading platform]].
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Patsystems' risk management tools, [[Patsystems Risk Informer]] and [[Patsystems Risk Alert]] were featured in Bobsguide and RFPConnect in June of 2009.<ref> {{cite web|url = http://www.rfpconnect.com/news/2009/6/8/patsystems-ameliorates-turbulence-in-risk-management|name = Patsystems Ameliorates Turbulence In Risk Management |org = RFP Connect|date = July 20, 2009}}</ref>
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<ref> {{cite web|url = http://www.bobsguide.com/guide/news/2009/Jun/8/Patsystems%E2%80%99_Risk_Management_Products_Meet_Market_Demand.html|name = Patsystems’ Risk Management Products Meet Market Demand|org = Bobsguide|date = July 20, 2009}}</ref>
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=== Expanded Exchange Connectivity ===
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Patsystems now offers connectivity to TurkDex, the [[Turkish Derivatives Exchange]], and [[IDEX]], the new segment of the [[Borsa Italiana]]’s derivatives market ([[IDEM]]).
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On November 1, 2010, Patsystems launched [[XConnect]], a fully-managed [[Application Service Provider]] (ASP) offering.  This is the fourth new hub following launches in Singapore, Sydney, Hong Kong and Tokyo.  Patsystems is working with [[Interactive Data]] for the delivery of these connectivity services.  <ref> {{cite web|url = http://www.mondovisione.com/index.cfm?section=news&action=detail&id=93869|name = Patsystems Signs Agreement With Interactive Data 7ticks For Connectivity Services To Patsystems XConnect Hub In Chicago|org = MondoVisione|date = November 1, 2010}}</ref>
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=== Algorithmic Trading ===
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Patsystems’ AlgoServer provides a framework for defining and developing [[algorithm]]s for server-side implementation, including presentation of the algorithms as [[synthetic order]] types on the [[front-end]].
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==References==
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<references />
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[[Category:Electronic Trading Platforms]]
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[[Category:Independent Software Vendors]]
 
[[Category:Independent Software Vendors]]
[[Category:MarketsWiki Sponsors]]
 
[[Category:FIA Associate Members]]
 
[[Category:Independent Software Vendors]]
 
[[Category:Patsystems]]
 

Latest revision as of 16:19, 1 February 2018

FTSE Russell banner 2016.gif
Patsystems Plc
Patsystems May09.jpg
Founded 1994
Headquarters London, with offices in Chicago, New York, Singapore, Tokyo, Sydney, Hong Kong
Products Trading Solutions Provider
Website www.patsystems.com

Patsystems, a subsidiary of ION[1], is a trading-solutions provider best known for its globally distributed J-Trader front-end trading screen.

Patsystems also offers a network of exchange connectivity, risk management solutions and an API for third-party solutions providers. Patsystems' matching engine powers seven exchanges globally.

History

Products

  • J-Trader; the most widely used electronic front-end for ETD execution.
  • Pro-Mark; a powerful front-end for high volume professionals.
  • Patsystems Risk Informer; for real-time risk management.
  • SyOMS; enables the trading of non-exchange supported order types.
  • Patsystems API; a fully-functioning interface to Patsystems' trading system.
  • Patsystems XConnect; full benefits of Patsystems' trading solution without the requirement of outsourced technology infrastructure or technical support resources.

References

  1. ION Trading finalises Patsystems buyout. FOW.

Resources