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

A-Team Insight Brief

Telefónica Goes Live with Alveo Prime Market Data Solution

Telefónica, a global telecommunications company, has gone live on Alveo’s Prime market data solution for its corporate treasury and financial division data management. The company’s sophisticated corporate treasury function, financial transactions and processes require accurate and timely market data for a wide range of purposes including hedge accounting, funding needs, financial reporting, validation and valuation of financial instruments.

Manuel Carreras Ferrer, transformation and change management manager at Telefónica, says: “We needed a new financial data repository for the firm. We use commercial data providers and different complex spreadsheets and needed to streamline the supply of market data into different business applications. Alveo’s market data solution helped us with a centralised data repository for all treasury-required FX and interest rate data, improved our operational efficiency and lowered our total cost of ownership.”

CJC Achieves Cyber Essentials Certification, Enhancing ICT Defence Capabilities

Crown Jewels Consultants (CJC), the market data consultancy and professional services provider, has attained the Cyber Essentials certification, underscoring its commitment to robust cyber defence mechanisms. CJC was assessed to have met the Cyber Essentials implementation profile, with ICT defences deemed satisfactory against a commodity-based cyber-attack.

The UK government-backed certification aligns with the EU’s Digital Operational Resilience Act (DORA), which aims to bolster the digital resilience of financial entities and their vital infrastructure against cyber risks. The certification process encompassed several critical areas, including secure configuration, access control, malware protection, patch management, and incident response.

Baader Bank Selects Broadridge for Regulatory Trade and Transaction Reporting

Baader Bank has extended its relationship with Broadridge Financial Solutions with an agreement to use the vendor’s regulatory trade and transaction reporting solution to ensure a more unified and comprehensive regulatory reporting framework. The bank already uses Broadridge’s front- and middle-office solutions for order management, trading and market connectivity.

Baader Bank offers asset classes including equities, bonds, derivatives, and funds/ETFs, as well as primary market transactions. The Broadridge platform will support the bank in fulfilling evolving requirements across multiple jurisdictions including MiFID, FinfraG, EMIR Refit and SFTR.

ANZ Partners with CobaltFX for Enhanced FX Credit Management

The Australia and New Zealand Banking Group (ANZ) has integrated CobaltFX’s Dynamic Credit platform to manage its FX trade credit exposure management across interbank trading venues. The move underscores ANZ’s commitment to adopting innovative, real-time solutions for FX credit management that centralise and optimise the distribution of credit across multiple trading venues from a single, global limit.

The partnership with CobaltFX, a United Fintech company specialising in automated pre and post-trade infrastructure, not only eliminates the need for credit carve-outs but also enhances market access for ANZ, offering significant benefits to its customers, counterparties, and the bank itself by reducing credit usage and operational risks while improving liquidity access.

Sigma Broking Expands Partnership with ION to Utilize XTP Execution Suite for LME Trading

ION, the solutions vendor for capital markets, commodities, and treasury management, has extended its partnership with international brokerage firm Sigma Broking. Sigma will now deploy ION’s XTP Execution (XTP-E) suite, enhancing its capability to trade listed derivatives on the London Metal Exchange (LME).

Sigma Broking, offering broking and execution services across various financial markets, provides its institutional customers with access to various exchanges and products, including tailored hedging strategies and execution services. The use of ION’s XTP-E suite is set to bolster Sigma’s front-office execution capabilities, further solidifying its status among the LME’s Category 1 Ring Dealing members, and supporting its strategic objectives in commodities trading and risk management.

Sterling Trading Tech Expands into Asia

Sterling Trading Tech (STT), the independent OMS, risk and trading platform vendor, has unveiled its strategic expansion into Asia for 2024, targeting the key financial hubs of Korea, Hong Kong, and Singapore. This initiative is driven by the demand for more sophisticated OMS and Risk solutions in Asia, and will cater to the needs of local and cross-border clients, particularly those operating in the US.

STT’s multi-asset OMS is designed for firms trading in US equities and options, offering features such as real-time balances, advanced margin methods, customisable risk controls, API connectivity and international order processing beyond US trading hours.

FlexTrade Integrates with Coinbase Prime for Enhanced Digital Asset Trading

FlexTrade Systems, the multi-asset execution and order management systems provider, has announced its integration with Coinbase Prime, a prime broker platform for digital and crypto assets. This collaboration allows FlexTrade’s clients to access a significant liquidity pool for digital assets through its FlexTRADER EMS and FlexONE OEMS.

The integration offers users seamless connectivity, a consolidated view of market depth, and streamlined order placement within the FlexTRADER and FlexONE platforms. The move is part of FlexTrade’s ongoing efforts to expand its digital asset trading capabilities, providing institutional-grade trading, compliance, and analytics across the digital asset and cryptocurrency markets.

Canoe Intelligence Solution Offers Access to Asset-Level Data of Alternative Investments

Canoe Intelligence, a technology provider to the alternatives industry, has announced the commercial launch of Canoe Asset Data, a solution to the challenges of accessing and using complete, timely, and accurate asset-level data. The offering delves deep into the underlying holdings of alternative investments, leveraging the document collection, tracking, extraction, and organisation technology developed by the company, and is designed to solve investment use cases such as exposure analysis, portfolio analysis, and due diligence, while alleviating the operational challenges of accessing this granular data.

Canoe Asset Data is the inaugural product release from the Canoe Data Innovation Hub, an initiative dedicated to driving innovation, transformation, and transparency in the alternative investment markets, and was developed in collaboration with 13 clients. Aman Soni, vice president of data strategy at Canoe, comments: “Before its commercial launch, Canoe Asset Data saw strong adoption from its design partners, which speaks volumes about the end product.”

Bloomberg ESG Data Supports Hong Kong Greenhouse Gas Emissions Elimination Tool

Bloomberg ESG data is supporting development of the recently released greenhouse gas (GHG) emissions estimation tool of Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) and the Hong Kong University of Science and Technology (HKUST). The tool is part of key initiatives to facilitate sustainability reporting by corporates and financial institutions in Hong Kong led by the Steering Group, which is co-chaired by the Securities & Futures Commission of Hong Kong and the Hong Kong Monetary Authority.

The tool deploys a regression model using data from listed companies and small- and medium-sized enterprises to represent corporate energy consumption and associated Scope 1 and 2 GHG emissions and enables financial institutions to estimate the GHG emissions of their investees or borrowers in their portfolios, which is important where data from underlying companies is limited. The energy consumption data and GHG emissions data of Hong Kong listed companies used for the model is procured from Bloomberg.

SteelEye Strengthens Presence in APAC by Incorporating in Singapore

SteelEye, provider of an integrated surveillance platform, has strengthened its footprint in Asia-Pacific (APAC) by incorporating in Singapore. This will enable closer collaboration with clients and regulatory authorities and comes at a time of heightened enforcement action by the Monetary Authority of Singapore (MAS), which over the past year fined four banks and an insurer for money laundering and market misconduct according to SteelEye’s 2024 Annual Fine Tracker.

Recognising the parallels between regulatory environments in APAC, North America and Europe, SteelEye is well-positioned to continue assisting financial firms in APAC to address compliance complexities. Matt Smith, CEO of SteelEye, comments: “Fortifying our presence in APAC underscores our commitment to providing unparalleled support to our clients in the region. By leveraging our experience, SteelEye’s trade and communications surveillance solutions can enable financial firms operating in APAC to meet their regulatory obligations effectively.”