Soc Gen CIB announces new cash equities trading platform
First Published 26th April 2012
Societe Generale Corporate & Investment Banking announces AlphaY - a new trading platform for cash equities
London - Societe Generale Corporate & Investment Banking has announced the launch of AlphaY, its new trading platform for cash equities. AlphaY is a high capacity crossing service that aims to enable the bank's clients to benefit from liquidity arising from the bank's derivative trading activities and other internal flows, as well as other client business.
The trading platform was created directly in response to client demand to obtain greater access to the bank's volumes in many of the core European trading systems including Deutsche Boerse Xetra, NYSE Euronext, London Stock Exchange and the Swiss Exchange.
The bank's market share on Euronext is 9.5% (number 1 ranking), Deutsche Boerse 6.5% (number 5 ranking), London Stock Exchange 5.1% (number 6 ranking), Switzerland 7.9% (number 3 ranking) Milan 6.7% (number 2 ranking) and Combined Nordics 4.3% (number 7 ranking)*. This demonstrates the bank's capacity to offer its clients access to a high quality liquidity pool.
Societe Generale has entrusted the operation of AlphaY to NYSE Technologies (the commercial technology division of NYSE Euronext) to ensure segregation between its internal systems and operations and the new platform.
AlphaY has been developed with several market leading functions:
• Prioritises client orders over internal orders
• Client flexibility - it offers crossing at three price points - BID, MID and OFFER
• One of the first service providers to use reference prices constructed from the consolidated
BBO from the Primary, BATS, Chi-X, Turquoise and Burgundy.
• Offers a very large instrument universe of over 4,500 names and is based on very scalable
and low latency technology to reduce the delays involved in accessing the platform.
AlphaY liquidity can be accessed directly across world markets through the bank's integrated execution platform.
*Based on 2011 Full Year rankings; source data from NYSE Euronext, Deutsche Boerse, London Stock Exchange, SIS, Assosim, OMX and Oslo Bors.