b-next, a pioneering provider of multi-venue multi asset class capital markets surveillance and compliance solutions, today announces its CMC:Cloud solution for financial institutions via the Elektron network from Thomson Reuters. The solution which will offer the b-next CMC:Suite as a “software as a service” will provide Investment Banks, Brokers, MTFs, Asset Managers, Hedge Funds and Private Banks with a new and attractive alternative to on-premise only solutions.
The evolving market and changing regulation has caused Capital Markets firms to request compliance as a cloud solution for risk and compliance management activities. Use of the CMC:Suite via cloud will allow firms to deploy ESMA & SEC insider dealing and market manipulation controls quickly and efficiently from both local and central locations.
The CMC:Cloud solution will provide unprecedented ease of deployment and reduced cost, while ensuring best in class reliability and security. CMC:Cloud combines 100% transaction checking with simplicity, transparency, reliability and rigorous data security. From their end to a central location, local compliance teams can deliver data and the most demanding capital markets trading and compliance regulatory mandates for all asset classes across all venues.
Out-of-the-cloud delivery is particularly attractive for small- to medium-sized institutions as it enables these to employ highly sophisticated, state-of-the-art compliance software structured around current industry best practice without upfront investment for hardware and without the staffing requirements to run and maintain the system. As hosting and maintenance occurs on the Thomson Reuters Elektron platform, costs remain low.
Wolfgang Fabisch, CEO, b-next, comments: “The significant interest and uptake in cloud compliance solutions is a real milestone for the industry. We are proud to deliver the cloud solution to our customers and are confident that the combination of b-next’s superior technology, on Elektron, backed by reliable and experienced implementation and support teams, will help market participants rise to the challenges in the Capital market.”