JSE Goes Live with Derivatives on Millennium Platform

Johannesburg Stock Exchange (JSE) has gone live with equity and FX derivatives on Millennium Exchange and Millennium Surveillance. The migration of equity and FX derivatives trading onto Millennium Exchange is expected to enable clients to reduce trading costs and bring customer technology infrastructure onto the same platform as cash equities. LSEG Technology has worked with JSE to deliver the derivatives platform, which includes a set of features specifically tailored to support the derivatives market, including implied-order trading, a host of multi-legged trading strategies and options theoretical pricing. These are supported by real time cross-asset class monitoring in Millennium Surveillance.

FINOS Adds Four Companies

Fintech Open Source Foundation (FINOS), an independent membership organisation whose purpose is to accelerate collaboration and innovation in financial services through the adoption of open source software, standards and best practice, is adding four members. The Royal Bank of Canada (RBC) will join as a platinum member; Wipro, a consulting and business process services company, will join as a gold member; Whitesource, an open source security and licence compliance management platform, will join as a silver member; and Axoni, a technology firm specialising in decentralised financial infrastructure, will join as a silver member.

Broadridge Introduces Change Management Service for SFTR

Broadridge Financial Solutions has introduced a change management service to help companies design target operating models that are compliant with Securities Financing Transactions Regulation (SFTR). The service provides a blueprint for front-to-back changes to overall architecture, organisational structure, business processes and location strategy. The company is also offering project management, business analysis and testing support to augment internal project teams. Broadridge says the time is now to define operating models to meet reporting deadlines and avoid increases in costs and operational risk. Firms must also resolve questions around areas such as data sources, exception management and reporting vendor services.

Algomi Extends ALFA with Ability to Execute Orders on Liquidnet and Trumid

Algomi, a provider of data aggregation technology for the optimisation of fixed income liquidity, has extended the functionality of Algomi ALFA with the ability to execute orders on Liquidnet and Trumid. This goes beyond aggregating market data and liquidity, to allow traders to navigate markets and execute trades without duplicating steps across platforms. For actionable liquidity alerts, Algomi ALFA enables order staging and desktop interoperability.

Algomi says the initiative allows fund managers to action and execute decisions based on its front-end data aggregation. For Liquidnet and Trumid users, the initiative offers additional workflow solutions and access to greater liquidity.

Fenergo Enters Taiwanese Market in Tie Up with TUNG-I

Fenergo has entered the Taiwanese market through a partnership with TUNG-I Information Services (TUNG-I), a provider of solutions powered by artificial intelligence (AI) in finance, information security, private cloud implementation and smart retail. As an exclusive client lifecycle management partner (CLM), Fenergo will provide TUNG-I’s current and prospective Taiwanese clients access to Know Your Customer (KYC) and Anti-Money-Laundering (AML) capabilities. TUNG-I will provide local support, maintenance and implementation of Fenergo’s CLM solutions. The partnership is a response to recent evaluations by the Asia/Pacific Group, an inter-governmental organisation, which aims to prevent money laundering related crimes in the region.

Timefolio Asset Management Selects SS&C’s Solutions to Power Operations

Timefolio Asset Management Singapore, a subsidiary of Korea’s Timefolio Asset Management, has selected a combination of SS&C Technologies services to power its operations. The company was looking for a trusted provider that could support investment operations as they grows. Working with SS&C Eze and SS&C GlobeOp also minimises the number of vendors the company works with, which should realise process efficiencies.  Timefolio is using Eze Investment Suite for portfolio management, trading, accounting, compliance and integrated order management. It is supporting middle- and back-office outsourcing and fund administration services with SS&C GlobeOp.

Refinitiv Adds Shanghai-London Connect App to Eikon Platform

Building on its commitment to provide data on China’s financial markets and as trading via the Shanghai-London Stock Connect commences this week, Refinitiv has added a Shanghai-London Connect app to its Eikon platform. The app brings together information market participants need to engage with trading and investment opportunities created by the new trading link, including price data, news, economic and other key information related to the companies that list depositary receipts in China or London. The information is also available for machine consumption in real time via the Elektron data platform, enabling customers to power trading engines or other applications.  

Eventus Partners QuantHouse to Source Market Data

Eventus Systems has partnered QuantHouse, a global provider of systematic trading solutions including market data services that was recently acquired by IRESS, to use QuantFEED market data to support its Validus trade surveillance platform. The platform can be implemented on-premise or as a cloud solution based on Amazon AWS. Either implementation can be run in real-time or T+1. QuantFEED will provide the T+1 solution with tick data, a requirement for trade surveillance and risk management.

Liquidnet Acquires Prattle on Heels of RSRCHXchange purchase

Liquidnet, a global institutional investment network, continues expansion of its artificial intelligence (AI) investment analytics platform with the acquisition of Prattle, a provider of automated investment research solutions for portfolio managers and research analysts. The agreement builds on Liquidnet’s acquisition of RSRCHXchange, an aggregator of institutional research. In 2017, the company acquired OTAS Technologies. With Prattle’s NLP and data science technology, OTAS’s AI-driven analytics, and RSRCHXchange’s distribution platform, Liquidnet’s global network of asset managers will have access to investment analytics leveraging AI methodologies across both structured and unstructured data.

London Stock Exchange Acquires Beyond Ratings

London Stock Exchange Group (LSEG) has acquired Beyond Ratings, a provider of Environmental, Social, and Governance (ESG) data for fixed income, as part of continued investment in its Information Services business, which includes FTSE Russell. The acquisition offers an opportunity for LSEG to build out its multi-asset data and analytics capabilities by commercialising Beyond Ratings’ datasets. FTSE Russell will use Beyond Ratings’ sustainability data, smart risk models and ESG research expertise to develop its multi-asset index solutions.