Market Data Startup Databento Boost Fund Raising to $30m

Market data vendor and technology startup Databento has boosted its fundraising to US$30 million with a recent $10m capital boost from investors including Belvedere Trading, Clear Street and Lightscape Partners.

Databento builds APIs to better serve financial institutions with high-fidelity market data. The pay-as-you-go service enables clients to select data distributed from almost 50 exchanges worldwide in more than a dozen formats.

The Salt Lake City, Utah-based company said the new finance would be used to enhance its offering by extending the historical and geographical coverage of the data it feeds to clients.

Tradeweb and Tokyo Stock Exchange Partner to Enhance Liquidity Access for Japanese ETFs

Tradeweb Markets Inc. and the Tokyo Stock Exchange (TSE) have formed a strategic partnership to boost institutional access to liquidity in Japanese exchange-traded funds (ETFs). The collaboration introduces a direct link between Tradeweb’s platform and TSE’s CONNEQTOR request-for-quote (RFQ) platform, enabling Tradeweb buy-side clients to access CONNEQTOR’s liquidity providers when executing Japan-listed ETF trades. The new connection was inaugurated with a transaction by Global X Japan.

Tradeweb’s integration with CONNEQTOR allows clients to seek quotes from a broad network of market makers via the Tradeweb interface, ensuring they receive the most competitive pricing. Clients can leverage Tradeweb’s AiEX tool for automated execution and benefit from TSE’s post-trade infrastructure, further enhancing transaction efficiency. This partnership builds on Tradeweb’s established multi-region ETF trading capabilities, as Tradeweb reported a significant 30% year-over-year increase in Asia clients’ ETF transaction volumes.

Enrico Bruni, Head of Europe and Asia Business at Tradeweb, commented: “This exciting collaboration between Tradeweb and TSE’s CONNEQTOR platform demonstrates our focus on linking liquidity pools for the benefit of institutional investors looking to transfer risk with a higher degree of certainty. We are in the business of enhancing clients’ execution experience, and we look forward to bringing more time and cost efficiencies to investors trading Japanese ETFs, both locally and globally.”

Moriyuki Iwanaga, President of Tokyo Stock Exchange, added: “CONNEQTOR has been developed as a platform to enable investors to trade ETFs “faster and cheaper”. We hope that the new connection with Tradeweb will promote investment in the Japanese market by allowing investors outside Japan, who have had difficulty using CONNEQTOR, to easily access ETFs listed on the Tokyo Stock Exchange from overseas. TSE will continue to strive to provide and develop a highly convenient market environment, where investors can enjoy better prices and smoother execution.”

Finbridge Collaborates with GLEIF on FinTech Identifiers

Finbridge Global, a platform that lets financial institutions assess FinTech companies at the product level, has adopted the The Global Legal Entity Identifier Foundation (GLEIF) framework.

The collaboration is hoped to enable clients to reduce the due diligence process when engaging with FinTech providers, a statement said. Finbridge will also manage the LEIs of FinTechs.

LEI data is also used to map corporate structures and relationships, highlighting the links between legal entities, helping clients to assess the risks posed by organisations operating internationally, according to a statement.

“While the dynamism of the global fintech sector is helping to transform the delivery of financial services, many potential partnerships are inhibited as financial institutions and investors lack the information needed to meet stringent due diligence requirements,” said GLEIF chief executive Alexandre Kech. “Integrating the LEI into the Finbridge Global platform addresses this challenge by setting a new standard of trust that accelerates and enhances KYC and KYB processes—promoting faster onboarding and enabling financial institutions and investors to operate with confidence. This is a catalyst for broader fintech adoption worldwide, ensuring all organisations can seize new opportunities while safeguarding their reputations and credibility.”

TS Imagine Completes Acquisition of PrimeOne

TS Imagine, the global provider of trading, portfolio, and risk management solutions, has now completed its acquisition of PrimeOne, specialists in operational risk management for the prime brokerage sector. The combined entity will operate under the TS Imagine brand, maintaining its global headquarters in New York.

TS Imagine provides a SaaS platform offering integrated front-office trading, portfolio, and risk management tools for both buy-side and sell-side clients. PrimeOne’s platform offers key services such as stock borrowing, lending, and margin management, which will complement TS Imagine’s existing technology.

The integration of PrimeOne’s tools with TS Imagine’s RiskSmart platform aims to enhance real-time risk monitoring by leveraging PrimeOne’s operational and financing data. Additionally, PrimeOne’s expertise in swaps will support the expansion of TS Imagine’s TradeSmart OEMS into swaps.

OTP Group Selects Integral’s Cloud Technology for Enhanced Global FX Trading Operations

OTP Group, one of the leading banking groups in the Central and Eastern European region,  has selected technology from currency technology provider Integral, to upgrade its FX trading infrastructure. By implementing Integral’s advanced liquidity aggregation, pricing engine, and risk management solutions, OTP Group aims to deliver high-precision pricing and increased operational reliability for its clients. This move aligns with OTP’s commitment to enhancing client service quality and achieving cost efficiency across its FX operations.

Integral’s cloud-native technology facilitated a quick and efficient deployment at OTP Group’s headquarters in Budapest, extending across its regional offices in Central and Eastern Europe and Middle Asia. The scalable, flexible architecture will enable OTP Bank to adapt its FX infrastructure to meet changing client demands, ensuring robust performance and easy future growth, according to the company.

Attila Bánfi, Managing Director of OTP Global Markets commented: “We are constantly developing our money and capital markets services to deliver exceptional service and tailored solutions to our regional and global clients. In order to provide even better service than before, we needed a solution that could deliver accurate, flexible and reliable pricing and risk management capabilities across our entire operating area. Integral’s proven and extensible technology stood out as the ideal partner to help us achieve these goals.”

Harpal Sandhu, CEO of Integral, added: “As a leading bank within Central and Eastern Europe, we are delighted to support OTP Group in optimizing their FX pricing and risk management workflows. With over 30-years of experience and the most advanced technology, Integral is able to offer highly configurable and sophisticated trading solutions to meet the specific needs of regional banks – as we are doing with OTP Group. Our solution will provide OTP Group with the workflow capabilities and environment they need, not only to significantly improve operational efficiency, but crucially their trading workflow capabilities for clients.”

Regnology Acquires CG3-1

Specialized reporting solutions provider Regnology has acquired CG3-1, a firm known for its regulatory calculations in the U.S. broker-dealer market. The move is expected to enhance Regnology’s offerings for broker-dealers by integrating expertise in regulatory capital, customer reserve, and portfolio margin requirements.

Founded in 2018, CG3-1 has established itself among U.S. broker-dealers seeking compliance with regulations like SEA 15c3-1 (Net Capital Requirements), SEA 15c3-3 (Customer Protection) , and FINRA Rule 4210 (Margin Requirements). The acquisition offers CG3-1 the opportunity to expand its services by leveraging Regnology’s extensive regulatory reporting capabilities. This includes developing end-to-end reporting solutions with automated data sourcing and enhancing client experience through improved workflow efficiency.

Rob Mackay, CEO of Regnology, commented on the acquisition: “Combining Regnology’s platform with CG3-1’s tools allows us to better serve the North American market with robust regulatory reporting solutions.”

Charles Greiner III, President of CG3-1, added, “Joining forces with Regnology provides significant value for our existing clients. The integration offers enterprise-grade business continuity and security, enabling us to expand our offerings under SEA Rule 15c3-1 and 15c3-3.”

Both companies are collaborating to integrate CG3-1’s solutions into Regnology’s portfolio, aiming to provide a more seamless experience for clients navigating complex regulatory requirements.

Combating Deepfakes: LSEG Introduces Advanced Identity Verification

As fraud techniques become more advanced, organizations worldwide are grappling with the challenge of securing financial transactions and verifying identities effectively. In response, London Stock Exchange group (LSEG) Risk Intelligence has introduced two new solutions aimed at strengthening defences against sophisticated fraud: Global Account Verification (GAV) and Document and Biometric Verification (DBV).

Payment fraud remains a significant concern, with UK Finance reporting losses of £213.7 million in the UK during the first half of 20241. In an effort to combat this, regulatory bodies in the UK and the EU are implementing new rules for reimbursing victims of Authorized Push Payment (APP) fraud. Starting January 2025, all payment service providers within the EU are required to offer 24/7 instant payments, and by October 2025, mandatory checks of account names and IBAN numbers will be in place for Eurozone providers2.

Global Account Verification: Enhancing Payment Security

GAV is designed to tackle APP fraud by enabling real-time verification of bank accounts and ownership across an initial 22 countries. The system cross-references account information to provide a “match,” “close match,” or “no match,” allowing organizations to confirm that payments reach the intended recipients. LSEG Risk Intelligence plans to expand GAV’s coverage to include 80% of G20 countries in the near future3.

The rise of synthetic media and deepfakes has made identity verification more challenging. DBV combines facial recognition, document screening, and liveness detection using advanced AI and deep learning technologies. This solution supports over 16,000 identity documents from more than 220 countries, in over 140 languages and typesets, facilitating secure and scalable identity verification processes.

Integration and Operational Efficiency

Both GAV and DBV are available via API, enabling seamless integration into existing systems and workflows. This is crucial for organizations aiming to enhance security measures without disrupting operational efficiency.

“Fraudsters are constantly innovating and operating with greater sophistication than ever before,” says Ramesh Menon, Group Director of Product Management for Digital Identity & Fraud at LSEG Risk Intelligence. “As bad actors exploit vulnerabilities across client and vendor workflows, investing in robust, data-driven solutions is essential to mitigate global payments and identity risks.”

By introducing these new tools, LSEG Risk Intelligence aims to assist multinational corporations, financial institutions, and fintech companies in defending against fraud while complying with evolving regulatory obligations.

GLEIF – Finbridge Partnership Streamlines ID Verification for FinTechs

In a move to enhance trust and efficiency within the financial services industry, the Global Legal Entity Identifier Foundation (GLEIF) and Finbridge Global are collaborating to streamline the identity verification process for FinTech companies. This partnership aims to facilitate smoother collaborations between financial institutions, investors, and FinTech providers by utilizing a standardized identification system.

Finbridge Global operates a platform that allows financial institutions and investors to search, compare, and assess FinTech companies worldwide at the product level, simplifying the due diligence process. By integrating the Legal Entity Identifier (LEI) system into its platform, Finbridge Global plans to verify the identities of listed FinTech providers, promoting greater transparency, security, and accountability. Through a partnership with LEI Worldwide, the platform will also offer LEI issuance and management services to FinTechs.

An LEI is a unique 20-character code standardized by the International Organization for Standardization (ISO) and assigned to legal entities. Each LEI corresponds to a verified company identity record in the Global LEI Index, an open, globally recognized database accessible to everyone. With over 2.7 million LEIs issued globally, the system addresses challenges in verifying counterparties in a fragmented global marketplace.

For FinTech providers, obtaining an LEI enhances credibility and demonstrates a commitment to transparency, enabling quicker and more efficient connections with potential partners. Financial institutions and investors benefit from streamlined due diligence and procurement processes, as the LEI provides clear digital identification of potential FinTech partners. LEI data can also help map corporate structures and relationships, offering insights into the interconnections between entities and allowing for more accurate risk assessments of organizations operating internationally.

“Integrating the LEI into the Finbridge Global platform addresses the challenge of meeting stringent due diligence requirements,” says Alexandre Kech, CEO of GLEIF. He notes that this integration sets a new standard of trust, accelerating Know Your Customer (KYC) and Know Your Business (KYB) processes and acting as a catalyst for broader FinTech adoption worldwide.

Barbara Gottardi, CEO and founder of Finbridge Global, emphasizes the importance of tackling identity verification and fraud in the financial industry. “By embedding LEIs into our platform, we offer a frictionless and instant means of verifying FinTech companies’ identities while preserving data privacy and confidentiality,” she explains. Gottardi views this step as pivotal in creating a unified, globally recognized identity management system that accelerates the establishment of new partnerships and elevates industry standards.

This collaboration reflects a broader trend toward adopting standardized identity verification methods to enhance trust and efficiency in financial services. As the FinTech sector continues to expand, such initiatives are critical in fostering secure and effective collaborations across the global financial ecosystem.

GCEX Partners with RULEMATCH to Provide Ultra-Fast Crypto Trading Venue for Institutional Clients

GCEX, the digital asset and FX solutions provider, has partnered with Swiss-based market operator RULEMATCH to offer institutional clients what it claims to be one of the world’s fastest crypto trading venues. Through the collaboration, GCEX clients, including hedge funds and algorithmic traders, gain access to ultra-low latency trading with 25-microsecond execution times, integrated post-trade settlement, and multilateral clearing. The joint solution setup aims to enhance capital efficiency and reduce settlement risks.

RULEMATCH operates as a neutral platform, ensuring liquidity via regulated market makers and providing a transparent, anonymous trading experience through a Central-Limit Order Book (CLOB), and utilises Nasdaq’s technology for pre-trade risk management and market surveillance, aiming to ensure secure and compliant trading. This partnership aligns with GCEX’s commitment to delivering advanced digital asset trading solutions and complements its XplorDigital suite, which offers end-to-end digital asset and FX brokerage technology for institutional needs.

Lars Holst, CEO of GCEX, commented: “We are continually looking to push boundaries and extend our offering. Our partnership with RULEMATCH presents a fantastic opportunity for our clients. RULEMATCH is built on state-of-the-art institutional grade technology that offers ultra-low latency trading of cryptocurrencies, with ultra-competitive fees and consistent execution latency down to 25 microseconds. Their offering is very impressive and we share the same ethos in terms of market integrity and professionalism.”

David Riegelnig, CEO, RULEMATCH added: “Observing the market today, it is very clear that many of the most active trading firms in the FX market are seeing great opportunities in cryptocurrencies as well – which is understandable given the similarities in the market structure. Our partnership with GCEX as a digital prime broker and sponsor means they can now access the ultra-fast trading venue of RULEMATCH and leverage its multi-lateral clearing and settlement capabilities. With this powerful combination, they can employ many of the same strategies from FX markets for trading crypto assets, including stablecoins.”

GCEX is regulated in the UK, Denmark, and Dubai.

GoldenSource Switches on Version 10 of its Data Management Platform

Clients of GoldenSource are now able to access the updated version of the company’s enterprise data management platform, which has been enhanced with deeper analytics and artificial intelligence (AI) capabilities.

Version 10 (V10) of the cloud-based service will enable AI-supported documentation and search tools as well as automated pipelines that provide a single, centralised view of fund data at entity level.

There is also new ESG functionality through data connectors and improved data lineage and metadata extraction capabilities.

The updates enable GoldenSource’s asset management, asset servicing, custodian and banking clients to “streamline data management processes and accelerate their cloud transformation”, the company said.

“Version 10 is the most innovative financial services data management solution that our team has developed, and we are excited to bring this to the market at such an opportune time for new and existing clients,” said GoldenSource chief product officer Swati Tyagi.

“As firms grapple with more volatile market conditions and increased regulatory burdens, ensuring financial institutions get the most out of their data has never been more important. To this end, we have worked closely with our clients to ensure our modernised product portfolio caters to their more diversified needs, focusing on digital transformation and the inevitable migration to cloud data services.”

V10 also features validations and analytics to help clients meet regulatory and vendor requirements, service delivery via APIs that integrate with reporting tools and visual data validation.