A-Team Insight Briefs
Refinitiv Research Shows Cloud Investment Escalating
Cloud projects are delivering immediate cost reduction, faster innovation and sometimes better than expected results, leading financial institutions to allocate almost half (48%) of their IT budget to public cloud services in 2020, up from 41% this year, according to results of recent Refinitiv research into the use of cloud technology for financial data. The key challenge is managing data privacy controls across multiple datasets in different location, while some firms are limiting use of the cloud because of regulatory concerns. The Refinitiv research is based on telephone interviews with 300 executives at buy-side and sell-side firms.
QuantHouse Adds SpiderRock Data and Analytics to API Ecosystem
QuantHouse has added SpiderRock Gateway Technologies’ proprietary data and analytics service including implied volatility and option prints to the 150+ data sources available through QuantHouse API. SpiderRock provides option analytics as a service delivered in a normalised binary format. As part of the offering, the company delivers implied volatility, greeks, risk slides, and volatility surfaces across US-listed equity and futures derivatives in a real-time feed that allows institutional clients to develop and enhance trading and risk management systems.
SMBC Nikko Replaces Bloomberg SSEOMS with Itiviti OMS Platform
Following Bloomberg’s decision in June 2019 to withdraw its Sell-Side Execution and Order Management Solutions (SSEOMS) and Itiviti’s offer to help SSEOMS users migrate to its OMS, SMBC Nikko London Capital Markets has successfully replaced the Bloomberg platform with Itiviti’s multi-asset OMS for high touch trading in London and added Itiviti’s middle office solutions including UL Middle, UL Books and UK Publisher. SMBC Nikko already included Itiviti in its technology stack and says the latest additions will support its cash equities desks in London, sales trading across Europe and the US, and execution services in Asia.
SS&C Adds S3 Transaction Cost Analysis and SEC Rule 606 Regulatory Reporting Services
SS&C Technologies is adding S3’s total cost analysis (TCA) and SEC Rule 606 reporting products to its solutions line up. The addition of S3 services – S3 is a provider of trade surveillance, analytics and regulatory reporting technology – will help SS&C clients ensure best execution of trading transactions through trade surveillance, analytics and full transparency, in line with compliance and regulatory requirements. It will also support production of detailed Rule 606 reports in compliance with SEC mandates.
Luxoft Forms Strategic Alliance with Fenergo
Luxoft, a DXC Technology company, has become a Global Platinum Member of client lifecycle management (CLM) specialist Fenergo’s partner ecosystem. Luxoft will offer Fenergo’s client community members professional consulting services to enable the rapid systems integration and deployment of Fenergo’s platform and suite of digital capabilities. The Fenergo ecosystem currently consists of 300 global organisations, of which just three are platinum members.
Compliance.ai Launches Premium Content
Compliance.ai has launched Premium Content, a new offering to help compliance professionals keep up with banking and financial regulations. The service provides users with access to contextualized regulatory subscription content including legal interpretations of regulations, publications from law firms, compliance manuals, guidance from content publishers and industry experts, online compliance training as well as subscription based content relevant to banks and financial institutions. It also offers a curated listing of providers from law firms, advisory services and content publishers; and plans to correlate with tasks and workflows soon after launch.
Glue42 Extends into Asia Pacific
Glue42, provider of a simplified desktop experience and interoperability for financial institutions, has made a reseller agreement with Chelmer to extend the connectivity of the desktop and its footprint into Asia Pacific. As part of its latest release, the company’s desktop users’ apps can now interoperate with third-party websites and web apps through browser extensions, eliminating the need to have access to an application’s API or source code APIs. Using Glue42, customers can orchestrate their UI and share data context with the financial data providers including Refinitiv Eikon and Bloomberg.
Goldman Sachs Distributes TT Platform to Clients
Goldman Sachs has contracted with Trading Technologies International (TT) to distribute the TT platform to its client base. This gives Goldman Sachs’ clients access to the TT platform’s range of trading tools, including Autospreader and TT’s advanced options analytics functionality. Clients can also access Goldman Sachs’ suite of internally developed execution algorithms via the TT platform.
DTCC Outlines Plan For No-touch Post-trade Processing
DTCC has outlined a vision for institutional trade processing that aims to realise the goal of STP by eliminating manual touch points. In a white paper, Re-Imagining Post-Trade: No-Touch Processing Within Reach, the company explains the need for a new approach and plans for achieving no-touch processing, including an effective way to leverage existing infrastructure. “We have a plan to create an open, integrated and resilient post-trade infrastructure that eliminates redundancies and manual processing across an increasing set of asset classes. It is designed so the trade lifecycle can be managed from one platform,” says Matthew Stauffer, managing director at DTCC.
QuantHouse Adds Goldman Sachs SIGMA X MTF Data to API Ecosystem
Goldman Sachs has teamed up with QuantHouse to accelerate market data distribution from its SIGMA X European multilateral trading facility (MTF). The data is accessible via the QuantHouse API Ecosystem and can be used to identify auctions and find potentially untapped, addressable liquidity. SIGMA X MTF offers deep and diverse liquidity on the basis of non-discretionary crossing with flow from external participants and the Goldman Sachs franchise. A recent analysis of SIGMA X MTF auction activity by Goldman Sachs found there is often a surplus of unexecuted liquidity in periodic auctions.