FIX Trading Community expands into Post-Trade Processing

Trading industry standards body FIX Trading Community has announced the launch of a newset of message types to further support periodic future payment management in the post-tradespace. The introduction of a new set of FIX standard messages will allow firms to send and receive details relating to expected periodic payments, a process which is done prior to any physical cash movement or remittance instructions.

FlexTrade Certifies with IHS Markit thinkFolio

FlexTrade, a global provider of cross-asset execution and order management systems, has extended the integration of FlexTRADER, its broker-neutral execution management system, with IHS Markit’s cross-asset investment management platform, thinkFolio. The combination of execution and order management system space expertise will provide improved global cross-asset trading capabilities across the trading lifecycle. “A certified interface between thinkFolio and FlexTRADER creates the best of both worlds for us at Barings, by giving us the ability to trade in a seamless manner,” said Louisa Paul, Head of Equity Dealing at Baring Asset Management.

BGC Partners Launches New Electronic Trading Platform

BGC Partners has launched Fenics Global Options (Fenics GO) a new electronic trading and market data generation platform involving the arrangement and execution of exchange listed futures and options. Fenics GO, in collaboration with liquidity providers Optiver, IMC and Maven Securities, provides Eurex listed Euro Stoxx 50 Index Options and related Delta 1 strategies allowing global traders to access liquidity electronically and anonymously, whilst being integrated into the Eurex workflow to enable efficient front to back processing of cleared trades.

SEC Pushes for MiFID II Research Exemption for US Brokers

The US Securities and Exchange Commission (SEC) is seeking to extend an exemption put in place October 2017 (and set to expire in July 2020) that allows US banks to sell research directly to European fund managers under MiFID II without registering as investment advisors. According to the Financial Times, the regulator made the statement to a group of investment banks and fund managers at a meeting last week.

China Merchants Bank Selects Wolters Kluwer’s OneSumX

China Merchants Bank has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting to provide its regulatory reporting software in the US. The solution combines bank data into a single source of data to ensure consistency, reconciliation and accuracy. It also includes Wolters Kluwer’s Regulatory Update Service.

“The comprehensive features available in OneSumX for Regulatory Reporting provide extensive functional coverage, adaptability and scalability and these were all qualities we were looking for when selecting the software,” comments Joseph Loffredo, Assistant General Manager & Chief Financial Officer for China Merchants Bank’s New York Branch.

Verint Systems Integrates with Microsoft for Compliance Recording

Verint Systems has engaged with Microsoft to support compliance recording for Microsoft Teams. The added layer of compliance recording will enable clients to capture Teams interactions properly across contact center, back-office, and trading floor operations.

Verint has worked with Microsoft Unified Communications (UC) to provide compliance solutions for 10 years, and was one of the first recording systems to receive Skype for Business certification in 2016. Verint is currently developing a recording solution built on the future Compliance Recording APIs for Teams.

Privacy Firm OneTrust Now a Unicorn

California-based OneTrust Global Privacy, a privacy, security and third-party risk technology platform, in the second week of July completed a $200 million Series A investment led by Insight Partners. The enterprise software company, founded in 2016, is now valued $1.3 billion. OneTrust’s three primary offerings include OneTrust Privacy Management Software, OneTrust PreferenceChoice consent and preference management software, and OneTrust Vendorpedia third-party risk management software and vendor risk exchange.

KRM22 Adds SMCR Applications to Global Platform

Software investment firm KRM22 has added additional SMCR applications to its Global Risk Platform, including a partnership agreement with London-based ‘digital intelligence’ specialist Neotas to distribute and support its enhanced due diligence application. The partnership follows recent agreements to distribute Trailight’s Individual Accountability Regime application which addresses the governance requirements of SMCR, and Entrima’s SMCR Online Training. Alongside its product partnerships, KRM22 is also launching the SMCR Navigator within its Enterprise Risk Cockpit solution to assist firms in addressing their SMCR risk and compliance positions.

GoldenSource Makes Luxoft a Preferred Implementation Partner

GoldenSource and Luxoft, a digital strategy and software engineering firm, have formed a global alliance that makes Luxoft a preferred implementation and business development partner for connecting banks, brokers, investment managers and capital markets service providers with the GoldenSource enterprise data management (EDM) platform. The alliance follows Luxoft and Golden Source’s success in delivering data management transformation projects at several global organisations and will target issues including SFTR and FRTB compliance, and Libor transition.

Infini Capital Management Selects TORA OEMS for Multi-Asset Pairs Trading

Hong Kong-based multi-strategy hedge fund Infini Capital Management has selected TORA for its pairs trading solution. The firm chose the TORA cloud-based order and execution management system (OEMS) on the basis of its configurable functionality and on-the-ground support for fund trading activities. The functionality of TORA’s multi-asset, multi-region and broker-neutral pairs application was another deciding factor. The pairs trading application provides a high degree of control over execution via a series of parameters such as slicing and concurrency. There is also full support for bulk uploads and capacity to trade thousands of pairs concurrently.