FlexTrade Partners OpenFin for Desktop Interoperability

FlexTrade is the latest application vendor to partner OpenFin. The partnership will provide buy-side traders with interoperability and improved workflows between the FlexTrader execution management system, FlexNow cloud-based trading system and other OpenFin third-party applications. The company has also joined the Financial Desktop Connectivity and Collaboration Consortium, FDC3, that was founded by OpenFin in 2017 and is now operated within the independent governance framework of FINOS, which published Version 1.0 of the FDC3 standard designed to bring universal connectivity to the financial industry’s desktop applications in March 2019.

Numerix Adds ISDA SIMM Margin Module to Oneview Derivatives Pricing and Risk System

Numerix, a provider of risk technology, has added an initial margin module using ISDA’s Standard Initial Margin Model (ISDA SIMM) methodology to its derivatives pricing and risk system, Numerix Oneview. Built on cutting-edge derivative models and a high-performance compute engine, Oneview provides a holistic view of the entire derivatives business across the front and middle offices. As an officially licensed vendor of ISDA SIMM, Numerix will offer a fully-featured initial margin solution for institutions that trade non-cleared derivatives.

The final phases of uncleared margin rules come into effect from September 1, 2019.

Trading Technologies Strengthens APAC Presence though deal with Philip Futures

Trading Technologies (TT), a provider of trading software, infrastructure and data solutions, has entered into an agreement with Singapore-based brokerage Phillip Futures to distribute the TT futures trading platform. Under the agreement, Phillip Futures will provide direct access to TT’s suite of trading tools, including Autospreader, integrated trade surveillance, and charting and analytics. TT’s platform will deliver faster execution for click and algorithmic traders, while its SaaS delivery model will allow users to trade from desktops and mobile devices.

Virtu Financial and MarketAxess Partner to Offer ETF and Fixed Income Products

Virtu Financial and MarketAxess have partnered to provide access to global exchange-traded funds (ETFs) and fixed income securities. The partnership will provide disclosed and anonymous ETF trading via a request-for-quote (RFQ) protocol. Doug Cifu, Virtu F CEO says clients of MarketAxess will have access to Virtu’s leading RFQ hub and will benefit from the seamless integration of RFQ hub’s ETF trading analytics services. In addition, RFQ hub will have access to the MarketAxess fixed income platform.

KRM22 Deploys Irisium Market Surveillance App on OpenFin OS

KRM22 has deployed its market surveillance desktop application Irisium on the OpenFin OS, making it the first compliance vendor to run on the operating system, which supports application interoperability. Irisium provides analytics tools to help financial services firms identify and manage potential risks including market abuse, fraud and operational issues. Using the app in the OpenFin environment will give clients access to an integrated desktop, enhanced user experience, and improved workflows to meet their market surveillance obligations.

Saxo Bank and Brown Advisory Cooperate to Offer Ethical Stocks to SaxoSelect Clients

Saxo Bank, a fintech focused on multi-asset trading and investment, and Brown Advisory, a global investment manager with a history in sustainable investing, have cooperated to add a digital investment portfolio, Ethical Selection, to the SaxoSelect universe. The portfolio offers a cost-effective way to invest in a sustainable, all-cap, 30-40 stock portfolio comprising US listed companies. Brown Advisory’s research goes beyond negative screening and evaluates every company’s environmental, social and governance (ESG) attributes to maintain a focus on companies that use sustainability drivers to add value to shareholders.

Simudyne Raises $6 Million to Develop Simulation Technology for Financial Services Firms

Simudyne, a simulation technology company, has closed $6 million Series A fundraising led by Barclays and including Graphene Ventures, an early investor in Snap and Lyft, and Gauss Ventures, an early investor in Revolut and Tandem, bringing total capital raised since Simudyne was formed to $10 million. The new funds will help Simudyne continue to invest in talent and accelerate its engagement with the financial services sector. It will also expand the application of its enterprise-ready software beyond bank stress testing, financial risk and contagion management, to applications including market execution and anti-money laundering.

Archax Opts for ClearBank’s Banking-as-a-Service

Archax, a forthcoming institutional digital securities exchange based in London, has selected ClearBank’s banking-as-a-service solution to access a range of API-based services including real-time payments services across BACS and CHAPS and 24x7x365 Faster Payments. As a security measure for Archax clients, ClearBank will ensure the protection of funds, holding them at the Bank of England.

Ensemble Capital Absolute Return AI Fund Goes Live with Numerix Oneview

Ensemble Capital, an absolute return global fund, has gone live with Numerix’s Oneview asset management solution for real-time risk and portfolio management. The hedge fund uses machine learning and deep learning AI algorithms to analyse market data, forecast moves, and trade currency and currency options to generate uncorrelated returns to traditional asset classes. The fund will use Oneview as a managed service in the Amazon Web Services cloud, with Numerix providing third-party connectivity to its execution platforms and prime broker/fund admins. Portfolio accounting and cash management are supported, as well as API integration to market data providers and trading venues.

OpenGamma Raises $10 million in Growth Funding

OpenGamma, a derivatives analytics provider, has raised $10 million in funding led by early-stage fintech and B2B software venture capital firm Dawn. The funding round included participation from existing investors CME Ventures and ex-SunGard CEO and fintech angel investor, Cristóbal Conde. OpenGamma’s analytics solutions are designed to help global banks, hedge funds and asset managers reduce the cost of trading derivatives.