About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

CicadaRisk in Transition To Independent Entity

Subscribe to our newsletter

An announcement is expected within weeks concerning the repositioning of CicadaRisk, provider of risk management solutions based on Algorithimics’ risk technology and Cicada’s data management technology. The objective is to enable CicadaRisk to operate more as an independent entity within the financial markets vertical of its principal financial backer Investors Guaranty.

CicadaRisk has operated as a joint venture between Algorithmics, Investors Guaranty and Cicada, but, according to an Investors Guaranty spokesperson, the goal was for it to eventually operate as an independent business.

She continues: “Cicada helped CicadaRisk in the initial stages with hands on management, technical and operations expertise. Its reference data management technology was integrated with Algorithmics’ risk management platform, and the Cicada technology will continue to be used. A team that includes founding members of Algorithmics has been transitioned over to manage day to day operations.” She confirms that the former CicadaRisk COO Richard Bennett – who came from Cicada – has left to pursue other interests.
Sources close to the company suggest that there has been friction in the relationship between Algorithmic and Cicada, with distribution of fees a key factor. In early October Algorithmics announced it had “re-aligned and expanded” its product development agreement with Investors Guaranty. The spokesperson says: “The renegotiated agreements between Algorithmics and Investors Guaranty as referred to in the October press release were not the result of any disagreement on fee distribution. The agreements simply provide an opportunity for the parties to inde-pendently pursue their own strategies for the buy side, from a sales, market-ing and product development perspec-tive (with no revenue share for sales).”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Best practices for creating an effective data quality control framework

Date: 8 November 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data quality is critical to capital markets processes from identifying counterparties to building customer relationships, regulatory reporting, and ultimately improving the bottom line. It can also be extremely difficult to achieve. One solution is a data quality control framework...

BLOG

M&G Investments Selects Bloomberg as Sanctions Data Provider

M&G Investments has selected Bloomberg as its sanctions data provider to support compliance decision-making, as well as portfolio and risk management. The deal extends Bloomberg’s relationship with M&G Investments, which previously adopted all the services offered by Bloomberg Data Management Services. Using Bloomberg’s sanctions data solution, M&G Investments will have access to the data vendor’s...

EVENT

ESG Data & Tech Summit London

The ESG Data & Tech Summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...