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The Archipelago Exchange (ArcaEx) is developing an options trading platform, officials say. The announcement follows the completion of Archipelago's merger with the Pacific Exchange (PCX) and the New York Stock Exchange's purchase of ArcaEx (DWT, Jan. 10 and April 25). The internally developed platform will replace the PCX Plus trading system. ArcaEx will move to the new platform in Q2 2006.

Inter-dealer brokers (IDBs) GFI Group, Icap, and Tullett Prebon will launch a common electronic checkout service for global over-the-counter (OTC) derivatives, which will be operated by DTCC Deriv/Serv, a sub sidiary of the Depository Trust and Clearing Corp. (DTCC). The service will provide a single point for the integration of dealers' trade capture systems to multiple IDBs. It will create a single centralized hub where dealers can review, verify and affirm OTC derivative trade information, regardless of which IDB arranged the trade. The service is slated to go live early in 2006 and will run in a pilot mode for one year.

Thunderhead, a provider of document generation technology, and T-Zero, a platform that allows for the affirmation of trade details electronically between counterparties, have partnered to integrate their software solutions. The deal was fostered by Mark Beeston, president of T-Zero, who during his tenure at Deutsche Bank was instrumental in getting the firm to adopt document generation technology, says Thunderhead's CEO Glen Manchester (DWT, Sept. 26).

Swiss-based UBS acquired the remaining shares it did not own in Prediction Company, a Santa Fe, N.M.-based developer of predictive technology and automated trading systems. UBS and Prediction would not disclose the financial terms of the deal. Prediction, which has 46 staff members, will become a subsidiary of UBS Americas.

Agency broker and trading software supplier EdgeTrade last week launched a new smart order execution algorithm, dubbed Sumo, which enables traders to execute single stock or portfolio trades without needing to use limit or market orders. The Sumo algorithm can micro-manage each order and determine how much of an order to execute, and when and where to send the order in a series of fills, officials say.

Integration and optimization software vendor WebMethods last week unveiled a partnership with Indian IT offshoring vendor Tata Consultancy Services (TCS) to provide turnkey outsourced production support and maintenance for firms' installations of WebMethods' Fabric business integration suite. By minimizing these operational needs, firms can lower the total cost of ownership and improve system performance, officials say. They can also eliminate the need for additional resources to monitor systems and meet ad-hoc requirements. TCS and WebMethods will monitor the health and performance of client installations remotely from their operations centers. The agreement expands an existing partnership between the two to provide implementation and consulting services around Fabric.

Santiago-based boutique bank HNS Banco has gone live with Surecomp's trade finance solution, allowing the bank to expand its range of services to include letters of credit, collections and trade finance loans. The installation of the system was managed by Surecomp's local support team. The deal was signed in April this year. Surecomp acquired the Bancomex trade finance system from Orden, a subsidiary of Sonda Ltd., in February.

In the Nov. 14 edition of DWT, Mike Steinharter's position at Reuters was incorrectly referred to as a customer service role. His responsibilities are to pull together various sales, service and operational functions to reflect an increased focus on customer service. Also, Frank Nebbeling's name in one instance was misspelled.