TradingTech Insight Brief
TMX Group and Clearstream Go Live with Tri-Party Transactions on Canadian Collateral Management Service
TMX Group Limited and Clearstream Banking S.A. have jointly launched the Canadian Collateral Management Service (CCMS), introducing the first domestic tri-party repo capabilities in Canada. The service, aimed at optimising securities finance activities and increasing market liquidity, has already seen participation from major Canadian banks including BMO, CIBC, RBC, Scotiabank, and TD, marking the commencement of tri-party repo transactions in the country.
The CCMS will address various market challenges by automating the repo trade lifecycle and enhancing collateral management, with plans to expand services including corporate cash tri-party repo and securities lending, alongside the increased use of equities as collateral.
Kaiko Partners with DataBP to Enhance Data Licensing and Sales Automation
Cryptocurrency data provider Kaiko has integrated with DataBP’s data licensing management platform, aiming to enhance its sales, billing, and entitlement processes. This collaboration promises to streamline Kaiko’s global operations by employing DataBP’s SaaS platform and Salesforce.com API, which will automate the creation of custom data licensing agreements, data access entitlements, and customer billing. The integration also includes DataBP’s Licensing Ledger, which records licensing changes, data usage, and billing history.
The partnership aims to benefit Kaiko’s clients by simplifying the licensing process and providing access to detailed licensing and usage metrics through a unified portal. The move will also ensure compliance with SOC2T2 standards, positioning the company to better meet regulatory demands and maintain trust in the rapidly evolving cryptocurrency industry.
ZERO13 Collaborates with Industry Leaders to Launch First Digital Carbon Credit Platform for Renewable Energy
ZERO13, the GMEX Group company operating a carbon exchange, registry and aggregation hub ecosystem, has partnered with Decarb.earth, CarbonCX, and XTCC to introduce a digital platform for end-to-end digitally measured, reported and verified carbon credit distribution, trading, and settlement for renewable energy projects
ZERO13 is a cloud-native, infrastructure-agnostic, decentralised platform that streamlines workflows across various exchanges, participants, custodians, registries, and climate fintech services, integrating digital monitoring, reporting, and verification to provide real-time checks on carbon offset supplies and project provenance. It supports end-to-end distribution across diverse blockchains and APIs, facilitating effective trading and settlement, and overcoming the limitations of the traditional voluntary carbon market (VCM).
Pico Launches Corvil Analytics 10.0, Enhancing Financial Trading with AI and Machine Learning
Pico has released Corvil Analytics 10.0, a significant upgrade that incorporates advanced machine learning (ML) and artificial intelligence (AI) to improve financial trading infrastructure. The software now features proactive notifications and natural language event descriptions, enabling users to identify and understand performance-impacting and unusual events critical for trading outcomes.
The latest version leverages proprietary ML and AI research to tackle unique challenges in data patterns and analytics volume, automatically detecting, correlating, and narrating significant events affecting business operations. This functionality allows Corvil Analytics to scale up to 7.5 million data points daily, supporting extensive data analysis and operational needs in demanding financial environments.
Trading Technologies Launches TT Splicer for Enhanced Multi-Leg Spread Trading
Trading Technologies (TT) has unveiled TT Splicer, an addition to its suite of TT Premium Order Types, designed to facilitate synthetic multi-leg spread trading. The tool allows users to create and manage synthetic multi-leg instruments across any exchange, even those where such products are not listed. Through the integration with TT’s proprietary algorithms, TT Splicer offers seamless order execution, real-time tracking of all transactions, and dynamic risk management through custom ratios.
TT Splicer leverages TT’s Autospreader to coordinate trade legs across co-located servers, seamlessly managing order execution. TT Premium Order Types are execution algos driven by quantitative modelling, fully integrated with the TT platform.
Liquidnet Launches SuperBlock Matching to Enhance Equities Trading
Liquidnet, the tech-driven agency execution specialist, today launched SuperBlock Matching as part of its new equities SuperBlock initiative. The functionality allows traders to easily signal and participate in large or illiquid block trades through a simple, one-click interface. Tailored to various market sizes and stock market capitalisations, SuperBlock Matching focuses on facilitating the most complex executions and orders
The launch signifies a strategic expansion of Liquidnet’s equities services, drawing on its global buy-side network and block trade facilitation expertise. SuperBlock Matching is designed to integrate seamlessly into traders’ workflows, offering a more effective method for managing and executing challenging trades within a secure environment. This initiative is the first in a planned series aimed at providing unique liquidity solutions and enhancing trade execution for Liquidnet’s members.
Imandra Launces AI-Powered FIX Wizard
Imandra, the automated reasoning technology company, has launched FIX Wizard, an AI assistant for uts FIX Connectivity suite aimed at banks and trading entities. Based on Imandra’s neuro-symbolic architecture, FIX Wizard automates the analysis of financial protocols and APIs, to streamline client onboarding in capital markets. The new tool integrates statistical AI with Imandra’s proprietary automated reasoning, offering a Generative AI assistant that ensures compliance with regulatory demands through verifiable audit trails.
The FIX Wizard uses Imandra’s “digital twin” of a FIX gateway, creating a full logical model of the API to provide comprehensive diagnostics and recommendations across various trading systems. It is designed to address the intricacies of FIX specifications, helping to decode and troubleshoot client data, manage engagement rules, and conduct conformance testing efficiently.
Appital Launches ‘Trending Equities’ to Enhance Liquidity Sourcing for Asset Managers
Appital, the price discovery and liquidity sourcing technology vendor, has introduced a new feature within its Appital Insights platform aimed at revolutionising liquidity sourcing in the asset management sector. ‘Appital Trending Equities’ enables deal originators on the buyside to proactively create and expose potential liquidity opportunities in relevant equities before officially launching a deal. This facilitates a more strategic approach to bookbuilding by allowing trading desks and portfolio managers to generate market orders in anticipation of future deals.
Asset managers on the Appital platform are already actively using the new feature, which has so far enabled opportunistic portfolio management teams to discover around 50 trading indications, collectively representing over $1 billion in potential liquidity.
Athena Integrates BTON Financial’s AI Trader Co-Pilot
Athena, part of United Fintech, and BTON Financial have announced a strategic integration, incorporating BTON’s AI-powered Trader Co-Pilot into Athena’s Order Management System/Portfolio Management System (OMS/PMS). The integration aims to transform trading decision-making across various financial sectors, including institutional asset managers, hedge funds, banks, and family offices. The development facilitates a more streamlined and efficient process, allowing traders to set order parameters and utilise advanced algorithms with a single click.
The collaboration between Athena and BTON Financial is designed to offer a seamless, scalable solution that leverages artificial intelligence and data-driven trading tools to optimise trading strategies without the need for extensive setup or training.
Sumitomo Mitsui Trust Asset Management Adopts DTCC’s ITP Services to Support U.S. T+1 Settlement Transition
DTCC has announced that Sumitomo Mitsui Trust Asset Management is utilising its Institutional Trade Processing (ITP) services to enhance trade processing efficiency ahead of the U.S. financial market’s transition to a T+1 settlement cycle on May 28, 2024. The suite includes DTCC’s CTM for central matching, M2i workflow, TradeSuite ID, ALERT, and Settlement Instruction Manager, aiming to fully automate post-trade processes and achieve same-day affirmation (SDA) for APAC region cross-border transactions.
By automating allocation, confirmation, and affirmation, CTM’s M2i workflow and associated services facilitate direct, automated trade affirmations and instruction deliveries for settlement via the U.S. depository, significantly streamlining the management and finality of trade lifecycles. This strategic implementation by Sumitomo Mitsui Trust Asset Management is designed to enhance transaction efficiency and support the broader industry goals of reduced settlement times.