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_logo.gif]]
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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
 
| employees =      <!-- Approx number of employees -->
 
| employees =      <!-- Approx number of employees -->
| products =      trading solutions provider
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| products =      Trading Solutions Provider
 
| homepage=        [http://www.patsystems.com www.patsystems.com]
 
| homepage=        [http://www.patsystems.com www.patsystems.com]
 
}}
 
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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 [[incorporate]]d in England and Wales (registered under number 4498002).
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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.
<div style="float:left; margin-right:1em;">{{Patsystems Ad 1R}}</div>
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Patsystems also offers an extensive network of [[exchange]] connectivity, [[risk management]] solutions and an [[API]] for third-party solutions providers. Patsystems matching engine powers seven exchanges globally, including the [[National Commodity Exchange Limited]] ([[NCEL]]) of Pakistan, the [[Tokyo Grain Exchange]], and the [[Agricultural Futures Exchange of Thailand]] (AFET).<ref>{{cite web|url=http://www.patsystems.com/content.asp?menuid=26&pageid=26&menuname=Exchange+solutions&menu=main |name=Exchange Solutions|org=Patsystems Plc|date=January 31, 2008}}</ref>
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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.
  
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 [[FCM]]s.
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== History ==
 
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*Patsystems was founded in 1994.
The company floated on the [[London Stock Exchange]] in March 2000 and re-listed on the [[Alternative Investment Market]] in February 2003.  
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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.
 
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*Patsystems [[acquire]]d [[Tamesis]] August 2005.
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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*Maiden [[dividend]] declared in 2007.
 
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*In July of 2011, Patsystems acquired [[Mixit Inc.]].
Patsystems provides tailored solutions targeted at different types of client, including solutions for [[retail]] [[trader]]s, professional traders, API specialists, and [[risk manager]]s.  
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*Patsystems was acquired by [[ION Trading]] in February 2012.
  
 
== Products ==
 
== Products ==
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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.
  
*[[AlgoServer]] is an algorithmic trading tool that facilitates straightforward development and distribution of brokers’ proprietary algorithms to customers, along with integration with Patsystems’ Order Management System (OMS) for seamless management and execution of orders.
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==References==
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<references/>
  
*[[Pro-Mark]] is an advanced application designed for professional, high-[[volume]] traders. 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.
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== Resources ==
 
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*[http://www.linkedin.com/companies/patsystems Patsystems' profile on LinkedIn]
*[[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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*[http://www.patsystems.com/default.aspx Patsystems website]
 
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*[[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 seemless automation. It also connects to a large number of data providers.
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* [[Screen2pit]] links electronic markets with [[open outcry]] markets, providing access to markets and products previously unavailable to the online trader.
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*[[Patsystems Risk Informer]] provides sophisticated, real-time risk management across all asset classes. It calculates margin requirements 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 managers.
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*[[Patsystems Risk Monitor]] is Patsystems’ newly implemented pre-trade risk management solution. Risk Monitor 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 exchanges 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-ends. The [[API]] can be used by third parties who want to write their own [[front end]] to their exact requirements, or traders 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 interfaces, 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 ASP]] or Application Service Provider is a hosted solution that provides the full benefits of the Patsystems trading platform without the requirement for clients to invest in a technology infrastructure or technical support resources. The ASP offering supports a wide variety of end user connectivity options including Internet, VPN and lease line.
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* [[J-Simulator]] is a training tool that teaches how to use J-Trader.
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== Exchange Connectivity ==
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Patsystems is [[Patsystems Exchange Connections|connected to 53]] exchanges, electronic trading platforms and trading floors worldwide.
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== Recent Initiatives ==
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=== Direct Access to 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 contracts listed on the Globex platform.
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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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=== Algorithmic Trading ===
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Patsystems’ AlgoServer provides a framework for defining and developing algorithms for server-side implementation, including presentation of the algorithms as synthetic order types on the front-end.
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AlgoServer includes all of the current functionality within Patsystems’ existing Synthetic Order Management System (SyOMS) product, including Iceberg, Ghost and Bracket orders. All algorithms can be either independent or integrated with existing systems.
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=== Continued Growth in Hong Kong ===
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Singapore: 21 July 2008 – Patsystems is pleased to announce 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 will be taking a full installation of the Patsystems solution. The installation will include fast [[order routing]], extensive connectivity and integrated [[risk]] management. The solution will 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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Customers of Guotai will be able to access these markets using Patsystems’ industry-leading front-end products, [[J-Trader]] and [[Pro-Mark]]. 
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=== Patsystems Partners with Hong Kong Mercantile Exchange ===
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London: 25 June 2008: As announced earlier today in Hong Kong, the newly formed Hong Kong Mercantile Exchange (HKMEx) has selected Patsystems for both its front-end trading model and risk management system. 
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HKMEx will offer Patsystems’ J-Trader and award-winning Pro-Mark. Pro-Mark functionality includes advanced options trading capability, flexible charting, Excel integration, spreading tools and sophisticated functionality designed specifically for energy traders.
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HKMEx will 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 requirements 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 the trades are executed. 
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=== Patsystems Risk Informer ===
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London: 24 June 2008: Patsystems plc, the technology solutions provider to the derivatives industry, is very pleased to announce that GH Financials has 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 & options at GH Financials. The solution will 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, flexible solution built to monitor and manage risk in real-time on multi-asset classes executed through any trading platform.
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== History ==
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Patsystems was founded in 1994 by a group of derivatives traders and technology professionals at a time when the [[futures trading|futures]] markets were beginning to migrate from physical trading floors 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 orders into other markets 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 exchanges through the internet; the software Theys designed would then be distributed to locals in dealing rooms 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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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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*Acquired [[Tamesis]] August 2005. The acquisition gave Patsystems access to real-time trade capture, valuation and risk management systems for the structured finance and credit derivatives market.
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*Maiden dividend declared in 2007 <ref> Investors Chronicle </ref>
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== People ==
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[[David Webber]]<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> joined the company as CEO in January of 2006, replacing [[Kevin Ashby]]. Webber was formerly the chief executive of [[AttentiV Systems Group]].  At [[AttentiV Systems]] he led a management buyout and public flotation on [[AIM]].  [[AttentiV Systems Group Plc]] was acquired by TietoEnator in May 2005.
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[[David Webber| Webber]] has been a member of the [[Institute of Chartered Accountants]] since 1989 and holds a BSc (Economics) from the [[London School of Economics]].
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* [[Martin Thorneycroft]]<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 group finance director.
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*[[Patrick J. Kenny]]<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 and officer of Patsystems North America.
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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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*[[Kieron O'Toole]]<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 client services director.
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==References==
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<references />
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[[Category:Electronic Trading Platforms]]
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[[Category:Patsystems]]
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[[Category:ION Trading]]
 
[[Category:Independent Software Vendors]]
 
[[Category:Independent Software Vendors]]
[[Category:MarketsWiki Sponsors]]
 
[[Category:FIA Associate Members]]
 

Latest revision as of 16:19, 1 February 2018

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