FactSet has partnered blockchain apps provider CG Blockchain to give users of FactSet’s order and execution management system (OEMS) a real-time, secure means of recording transactions using blockchain technology.
The firms have integrated FactSet OEMS, a central platform for executing trading strategies across asset classes, with CG’s BCT Fundstore suite of compliance-based blockchain apps. This gives investors and fund managers a transparent and unalterable record of their trade execution, analysis and order generation activities, supporting regulatory compliance.
The firms say it is one of the first times blockchain technology has been directly integrated with an OEMS for real-time, immutable recording of transactions to a distributed ledger.
John Adam, FactSet’s global head of portfolio management and trading solutions, explains: “This is a new solution for asset managers, a data and reporting integration between a blockchain-enabled, immutable distributed ledger for visibility, and an OEMS for tracking trade-related compliance alerts. The distributed ledger enables unalterable, secure reporting, giving clients the tools they need to ensure compliance. The OEMS side makes it real time by posting trade compliance events to the distributed ledger as they occur.”
CG Blockchain president Bob Bonomo calls the initiative transformational and says it gives FactSet clients access to institutional-grade blockchain based apps.