A-Team Insight Brief
Solidatus Targets Asia-Pacific from Office in Singapore
Solidatus, provider of a data lineage and business relationship mapping solution, has opened an office in Singapore to address Asia-Pacific markets. The expansion comes off the back of two trade missions to Asia in 2018, both of which were at the invitation of the UK Department of International Trade. John Berven, who has experience of the region and spent 18 years at State Street Global Markets, where he managed foreign exchange sales team that covered institutional investors in Hong Kong and Singapore for five years, will lead the Singapore office and be the first Solidatus employee outside the UK.
CAT NMS Names FINRA as Plan Processor for the CAT after Dropping Thesys
CAT NMS has selected the Financial Industry Regulatory Authority (FINRA) as plan processor for the consolidated audit trail (CAT), having dumped previous plan processor Thesys Technologies earlier this year. CAT NMS, which is responsible for implementation of the CAT, has also released updated industry member technology specifications and industry member technical specifications scenarios.
QuantHouse Adds Euronext’s FastMatch FX Tape to API Ecosystem
QuantHouse has added Euronext’ FastMatch consolidated market data product, FX Tape, to its API ecosystem. Available as part of QuantFeed and responsible for normalising and disseminating market data for over 140 feeds, FastMatch’s FX Tape provides a large degree of post-trade transparency. Kevin Wolf, CEO of FastMatch, comments: “FX Tape makes post-trade information for the spot market accessible to everyone as we deliver transaction information from a broad range of sources. We anticipate that QuantHouse will act as a complementary channel for those wishing to access the FX Tape in addition to our suite of Spot FX Market Data products.”
BSO Partners Stake Capital to Deliver Blockchain Staking-as-a-Service
Stake Capital, a provider of secure delegation services, has partnered network, cloud and hosting provider BSO to deliver blockchain staking-as-a-service for institutional cryptocurrency. The Stake Capital platform and its digital assets custodian services enable institutional investors to securely manage their crypto investments while viewing insights and analytics regarding their investments’ performance through staking and lending. BSO is equipping Stake Capital with private connectivity to Amazon Web Services (AWS), which delivers low latency and avoids using the public internet. Stake Capital is leveraging the AWS platform to ensure maximum uptime and availability across all proof-of-stake networks.
ESMA Names Three UK CCPs to Offer Services in the EU Following a No-Deal Brexit
ESMA has named three UK central counterparties (CCPs) that will be allowed to provide services in the EU following a no-deal Brexit. The CCPs are LCH, ICE Clear Europe, and LME Clear and have been selected to limit the risk of disruption in central clearing and avoid any negative impact on the financial stability of the EU in the case of a no-deal Brexit. ESMA also supports continued access to UK central securities depositories (CSDs) and is in the process of selecting which ones will continue to be recognised in the EU after a no-deal Brexit.
InfluxData Raises $60 Million Funding to Further Develop its Time Series Database
InfluxData, creator of the InfluxDB time series database, has raised $60 million in Series D funding, led by Norwest Venture Partners and joined by Sorenson Capital and existing investors Sapphire Ventures, Battery Ventures, Mayfield Fund, Trinity Ventures and Harmony Partners. The funds will support further investment in product innovation, with increased focus on the cloud, and building out sales and marketing to meet growing product demand, as well as customer support. InfluxData will also begin to market its solutions for specific uses, including financial services.
Broadridge Report Reveals Damage of Poor Personalised Communications
Broadridge Financial Solutions has released a rather telling report for those at financial institutions responsible for customer onboarding and client lifecycle management. The report shows that personalisation in communications can make a significant impact on customer loyalty. Some 35% of 3,004 consumers surveyed in the US and Canada said companies they use need to improve communication experiences, while 25% stopped doing business with a company specifically due to poorly personalised communications, a percentage that grows to 35% among millennials.
Vela Partners Smart Order Router Provider CoinRoutes
Vela, a trading and market access technology firm, has partnered CoinRoutes, a provider of consolidated data, smart order routing (SOR) and algorithmic trading for crypto investors, in order to extend its crypto-asset SOR offering and achieve optimal aggregate prices across selected crypto exchanges. Peggy Sullivan, chief of staff at Vela, says, “Our partnership with CoinRoutes allows traders to leverage sophisticated SOR and algorithmic strategies to achieve best execution.”
IHS Markit Adds ESG Solution for Private Capital Markets
IHS Markit has introduced an environmental, social and governance (ESG) data collection and reporting solution for private equity (PE) firms, venture capital (VC) firms, their portfolio companies and investors. The solution is part of iLEVEL, a platform connecting participants in private capital markets. ESG reporting in iLEVEL covers 29 metrics relevant to investors seeking data from portfolio companies and PE or VC funds. The metrics include CO2 footprint, diversity in employment and independence of board members, helping general partners and limited partners apply non-financial data to their value creation and risk management processes, two areas of interest for investors.
RegTech Could be Worth $7.2bn by 2023
Spending on RegTech is forecast to climb to US$7.2 billion by 2023, from US$2.3 billion in 2018 – a CAGR of 25.4% during the forecast period 2018-23. The Asia Pacific region is expected to hold the highest potential, and will see the fastest growth over the five-year period. The compliance management solution segment is expected to see the biggest growth in terms of sectors. The predictions come from the recently-released ResearchAndMarkets.com report: “Global Regulatory Technology (RegTech) Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023.”