A-Team Insight Brief
TRG Screen Integrates Axon PEAR Information into FITS and INFOmatch
Following TRG Screen’s June 2019 acquisition of Axon and its PEAR (Policies, Explanations, Analytics, Repository) solution that consolidates exchange information including policies and pricing into a searchable online database, Axon says PEAR has reached coverage of over 250 markets and monitors over 650 documents and exchange notices daily. Over the past year, Axon has also added functionality to PEAR including vendor data notifications and comPEAR, which provides users with the ability to relate older versions of agreements with more recent iterations. TRG is working to integrate PEAR information into its FITS and INFOmatch spend management platforms.
ESMA Calls on NCAs to Improve Data Quality of Derivatives
The European Securities and Markets Authority (ESMA) has published the results of a 2018 peer review of supervisory actions of six European National Competent Authorities (NCAs), including the UK Financial Conduct Authority (FCA), regarding approaches to enhancing the quality of derivative data reported under European Market Infrastructure Regulation (EMIR). The report complements ESMA’s Data Quality Action Plan to improve the quality and usability of derivatives data. Its results are mixed, but on the data quality side, have led ESMA to suggest several initiatives to improve the supervision of EMIR data quality in the short and long term.
TickSmith Works with Nasdaq Canada to Provide Analytics for Nasdaq Basic Canada
In an effort to make Canadian markets more accessible and affordable, Nasdaq Canada is working with TickSmith and its Marketplace Advanced Insights to provide information on how Nasdaq Basic Canada is working in the marketplace. Nasdaq Basic Canada allows users to consume Level 1 market data from Nasdaq CXC, CX2 and CXD trading books in a single market data feed. TickSmith provides Nasdaq Basic Canada analytics that allow users to track market activity by firm, trading venue, instrument, or any combination to evaluate market liquidity and understand at a granular level how the product is helping them achieve their goals.
EU Considers Including FX Spot Trading Under MAR
The European Commission (EC) is reportedly considering a move to bring foreign exchange spot trading in scope of the Market Abuse Regulation (MAR). As part of a regulatory review, the EC has asked ESMA to consult with the industry on whether FX spot transactions should fall under the three-year old market abuse rules. The consultation, which includes other proposed changes to MAR, will run until November 29, 2019, with a final report presented to the EC in early 2020.
Continuity Acquires TraceRisk Enterprise Risk Management Platform
Continuity, a US-based provider of regulatory technology and compliance management systems (CMS) for financial services organisations, has acquired Ohio-based TraceRisk, a provider of cloud-based enterprise risk management (ERM) solutions. With technical integration efforts now underway, Continuity becomes the first provider to connect the strategic aspects of enterprise risk management to the tactical oversight of compliance management on a singular, unified platform. TraceRisk Enterprise Risk Management was launched in 2012 as an affordable, easy-to-use set of solutions, including 150+ tailored risk assessments plus thousands of key risk indicators, designed specifically for financial institutions. TraceRisk will now operate as Continuity Risk Management Solutions.
Standard Charted Bank Launches Bearing Point Tax Solution
BearingPoint RegTech has confirmed that Standard Chartered Bank has successfully deployed the tax reporting solution FiTAX to fulfill its global reporting obligations. These include CRS (Common Reporting Standard), FATCA (Foreign Account Tax Compliance Act) and QI (Qualified Intermediaries) reporting.
SmartSearch Receives Growth Equity Investment from Marlin Equity Partners
AML specialist SmartSearch has received a growth equity investment from Marlin Equity Partners, an investment firm with a long track record of backing software innovation. SmartSearch enables organisations to carry out AML checks without requiring clients to provide identity documents, with individual AML checks taking less than 30 seconds and business checks taking less than three minutes to process. “SmartSearch’s robust regulatory compliance platform provides industry-leading accuracy rates and strong customer advocacy,” says Roland Pezzutto, a principal at Marlin. “With increasing regulatory scrutiny and the desire for seamless customer onboarding, SmartSearch is well-positioned to capitalise on the rapid shift toward digital verification solutions and we look forward to collaborating with an exceptional management team to support the company’s rapid growth trajectory.”
Finantix Reviews Wealth Managers’ Digital Client Acquisition
Finantix has released the results of a wealth management market survey, ‘New Client Acquisition: How can technology drive sales effectiveness in wealth management’. The survey shows a shift by wealth managers towards a more digital approach to client acquisition: 87% said they will increase digital lead generation in the next 24 months, with 54% making the digital route top priority. Some 75% of tier one multi-market mangers are prioritising digital lead generation, compared to 33% of single-market firms. There is also increasing need for technologies to help build a single view of each client and prospect and drive personalised insights.
FlexTrade Integrates MSCI Risk and Factor Analysis
FlexTrade Systems, a provider of multi-asset execution and order management systems, and Woodline Partners, a San Francisco-based investment firm, have integrated MSCI’s Barra real-time portfolio risk and factor analysis solutions into the FlexONE OEMS. The integration allows portfolio managers using FlexONE to model orders more efficiently and better understand pro forma risk before staging the order for trading. Additionally, risk managers using FlexONE’s pre-trade compliance engine can set thresholds to be observed in real time. For Woodline, the goal was to integrate factor analytics with institutional grade position, performance and trade management, which has been achieved.
Clausematch Enters Italy with Banca Intesa Sanpaolo Partnership
Following a meeting at a FinTech Innovation Lab hosted by Banca Intesa Sanpaolo, the bank has implemented implemented the ClauseMatch platform within its Cost Management Office governance area. An advanced online document management and collaboration solution, the space is designed to optimise and streamline the process of creating and managing intra-group service contracts.