A-Team Insight Brief
KRM22 Launches Market Risk Solution for Global Risk Platform
KRM22 has announced the availability of its Market Risk solution on its SaaS-based Global Risk Platform.The Global Risk Platform now provides an “end to end” Market Risk solution assisting futures clearing merchants, asset managers, broker dealers and hedge funds with their risk management. Risk tools provide analytics to help portfolio management and modify trading behaviour, while the platform also includes a centralised order limit management system. “Bringing pre-trade, at-trade and post trade solutions onto one common SaaS based platform creates the cost and operational efficiencies our clients require in this increasingly competitive market,” said KRM22 President, Stephen Casner.
FCA Updates Handbook Website Using Governor Software
Governor Reg: FCA, a live version of the FCA Handbook allowing UK regulated financial institutions to map, track and report regulatory compliance, was today integrated into the FCA Handbook website to enhance overall user experience, improve navigation and provide .csv downloads of relevant items. To further help UK regulated firms to stay compliant, the firm has developed a live version of Governor Reg: FCA for commercial clients, providing direct access to a live copy of all of the FCA regulations within their compliance system.
SIX Group Offers $3.1 Billion for Spanish Exchange BME
SIX Group intends to make an all-cash voluntary tender offer for Bolsas y Mercados Españoles (BME) to create the third largest European financial market infrastructure group. SIX says the combination would create a diversified group with a strong presence across Europe, and believes the proposed transaction represents an attractive financial proposition for shareholders of BME. The transaction could strengthen both Spanish and Swiss ecosystems by creating centres of excellence and bringing new capabilities to BME and SIX participants, as well as attracting new global capital pools to Spain and enhancing Swiss asset managers’ presence in the EU.
TruNarrative Expands to US with New Offices in Atlanta
Financial crime and compliance management platform TruNarrative has expanded into the North American market with new US headquarters in Atlanta, Georgia. The UK-based firm was founded in 2016 and provides a no-code platform connecting multiple identity verification, fraud detection, eKYC, and AML compliance data providers via a single API. “Launching our platform across European markets has provided us with an ideal testbed for demonstrating the value of our unified approach. Addressing Europe’s different regulations will serve us well as we expand into North America’s multiple jurisdictions,” said CEO John Lord.
MiFID II Rules Set to Change as EU Bows to Criticism
The European Commission has suggested that it may tweak MiFID II market rules after an industry backlash criticising the regulation. Issues to be reviewed, according to the FT, include changes to the cost and distribution of market data, investor protection rules, and research for small companies. The FCA has also promised to conduct a sector-wide review of post-MiFID II research pricing, after a multi-firm review in September found that banks could be using their size to undercut independent houses and smaller brokerages.
Silent Eight Wins Funding From SC Ventures
AI-powered anti-money laundering start-up Silent Eight has raised $6.2 million in Series A funding from a group of investors including SC Ventures, the fintech and ventures unit of Standard Chartered Bank. Other investors included OTB Ventures and Wavemaker Partners. Standard Chartered is the largest client of Silent Eight, and has implemented the firm’s sanctions screening process across over 40 markets. Standard Chartered also recently confirmed a new partnership with Quantexa, a contextual decision intelligence software company, to use its big data analytics and AI platform for compliance investigations.
Singapore-Based EDBI Becomes Pico Investor and Strategic Partner
Pico continues its global expansion plan post its acquisition of Corvil with the announcement that Singapore-based investor EDBI has become a Pico investor and strategic partner. Pico launched in APAC about a year ago and has since built presence with strategic hires, new offices and additional data centres in Singapore, Hong Kong, Tokyo, Korea and Taiwan. Within the next 18 months, it plans to add 20 more data centres, completing coverage of APAC financial markets. EDBI joins a roster of strategic investors in Pico including Nomura, Goldman Sachs, J.P. Morgan, UBS, Wells Fargo, DRW Venture Capital and CMT.
Codel Joins IOWA.rocks with Immutable Market Data Providence Solution
Codel has joined IOWA.rocks financial data marketplace with CODELMARK, a solution including immutable market data providence and a series of applications that enable users to protect and control data, and prove integrity and validity. The IOWA.rocks partner ecosystem brings together content creators, content consumers and innovative technology partners. Codel is expected to have potential in the world of OTC products, where there are often multiple sources for the same instrument, and remove the vagaries and origins of a price to allow firms to transact business knowing they are using validated content that could stand up to regulatory or third-party investigation.
Tokyo Stock Exchange Upgrades Arrowhead Trading Platform
Tokyo Stock Exchange (TSE) has leveraged the latest technology from Fujitsu to overhaul its ‘arrowhead’ trading platform for the first time in four years. The revised platform is in operation and includes new features that prevent sudden fluctuations in stock prices, improve the opportunity to conclude contracts based on closing prices, and stabilise system performance. Next, TSE and Fujitsu will turn their attention to further development of cash markets.
Horizon Adds Algo for Implementation Shortfall Trading Strategy
Horizon Software has extended its execution algo suite with an implementation shortfall strategy algo that aims to set up two levels of spots and three levels of participation rate. This enables enable users to adapt the participation rate to the spot evolution. The algo also provides choice to either define fixed levels of trading spots or follow the VWAP plus or minus a percentage along the execution. The ultimate aim of the strategy is to increase targeted participation rate when a stock price moves favourably and decrease it when a stock price moves adversely.