RecordPoint, OCG to Jointly Pursue Growth in Financial Services

Data management and governance services firm RecordPoint will work with advisory Oceanic Consulting Group (OCG) as it grows its business within the financial services sector.

Together, RecordPoint and OCG will “help institutions build stronger data foundations and future-proof their governance frameworks in an increasingly complex landscape”, they said in a statement.

CDS Implements Clearing Technology Upgrade to Modernise Post-Trade Infrastructure

The Canadian Depository for Securities Limited (CDS), a subsidiary of TMX Group, has completed a major upgrade to its clearing and settlement technology as part of its Post Trade Modernisation (PTM) initiative. The changes replace legacy systems used for clearing, settlement, depository services, and entitlement payments.

The upgrade is powered by TCS BaNCS for Market Infrastructure, a high-performance platform developed by Tata Consultancy Services. The implementation marks a significant step in enhancing the resilience and scalability of Canada’s capital markets infrastructure, according to John McKenzie, CEO, TMX Group, who commented: “Post trade modernisation represents a game-changer for Canada’s equities, fixed income and OTC clearinghouse and a key milestone in the evolution of TMX. The launch of the new platform advances our core technology capability and ultimately strengthens Canada’s ability to compete for global investment. TMX’s investment in clearing technology also delivers on our enterprise wide commitment to ensuring these critical systems are efficient, resilient and adaptive.”

The new system is also designed to support recent initiatives, including the Canadian Collateral Management Service, introduced in 2024.

BMLL Technologies Partners with Revelate to Expand Global Data Delivery Capabilities

BMLL Technologies has announced a collaboration with Revelate to enhance the delivery of its data products to capital markets participants worldwide. The partnership leverages Revelate’s platform to streamline and automate the distribution of BMLL’s US options and global Level 3 equities data, aiming to increase accessibility and efficiency for end users.

The integration complements BMLL’s current data delivery channels, including API, Snowflake, and Flat File, by adding support for multiple access options such as SFTP, S3, Azure, and API. Through this collaboration, BMLL strengthens its ability to serve institutional clients with more flexible and rapid data delivery, aligning with its strategy to continuously improve access to its extensive historical data and analytics offerings.

Phillip Nova Expands Integral Partnership to Boost NDF and FX Swap Trading

Singapore-based brokerage firm Phillip Nova is deepening its collaboration with Integral, the currency technology provider, to enhance its trading capabilities in non-deliverable forwards (NDFs) and FX swaps. The move comes in response to rising demand for NDFs in the Asia-Pacific region, where cleared daily volumes have exceeded $65 billion and open interest has crossed $2 trillion as of September 2024.

The expanded partnership enables Phillip Nova to leverage Integral’s fixed-fee subscription model, helping the brokerage to reduce operational costs, manage cost volatility, and scale its services efficiently. This builds on their initial deployment of Integral’s FX trading solution in 2021, which supported the firm’s FX spot and contract for difference (CFD) trading growth.

Novata Offers Private-Market ESG Data Management and Request Service

Novata has launched ESG Due Diligence, a product that enables private market participants to manage and utilise sustainability data.

The solution centralises the diligence workflow for deals teams enabling them to request, review and analyse ESG data.

“While assessing sustainability factors has become a standard part of the investment process, traditional diligence workflows have historically been resource-intensive, disconnected from holding-period value creation and lacking actionable outputs,” said Jessie Martin, Global Head of Advisory at Novata. “Novata’s new offering delivers a pragmatic and cost-effective alternative that investment teams can adopt without burden or disruption.”

SIX Clients Given Access to New Fixed-Income Data Product

SIX has unveiled SIX Fixed Income Data, a service that provides clients with pricing, reference data, corporate actions information and underlying source documents.

The solution is targeted at sell-side firms, investors, wealth managers and hedge funds, and offers “comprehensive coverage, rigorous validation processes, seamless integration into existing systems, and a flexible service model”.

Data for 3.6 million US instruments are among the datasets available through SIX Fixed Income Data, encompassing municipal, corporate and government debt as well as structured finance.

Less than 3 Months until Canadian OTC-Derivatives Trade Reporting Rewrite Enters Force

Canada’s long-awaited rewrite of its OTC-derivatives trade-reporting regime enters force on 25 July 2025, completing a multi-year effort by the Canadian Securities Administrators (CSA) to bring national rules into line with global data standards and the U.S. CFTC’s 2024 “swap-data” overhaul.? 

The amendments—first published in final form on 25 July 2024—touch every province and territory and will require virtually all swap dealers, clearing venues and many buy-side end- 

The new framework more than doubles the number of reportable data fields (from 72 to 148) and embeds the CPMI-IOSCO Common Data Elements alongside mandatory Unique Transaction and Product Identifiers, closing long-criticised cross-border gaps in the Canadian dataset.? 

A revised hierarchy now makes the “financial entity” among two Canadian dealers the default reporting party, while certain trades executed on recognised derivatives trading facilities shift the burden from dealers to the venue itself—moves designed to curb duplicate submissions and align with CFTC practice.? 

Error-handling rules have also tightened: firms must alert regulators to any “significant” inaccuracy as soon as practicable—and no later than the close of the next business day—bringing Canada into step with U.S. swap-data rules.? 

Technical specifications for every field, including XML schemas, sit in a new CSA Derivatives Data Technical Manual, giving market participants a single source of truth for permissible values and file formats. 

Implementation testing is already under way. DTCC’s designated Canadian repository opened a simulator on in March and followed with full end-to-end certification in April. Rival repositories have published near-identical schedules, leaving firms less than three months for defect remediation.? 

Legal advisers warn that buy-side entities relying on delegated arrangements will need to verify that new collateral, margin and lifecycle fields are correctly captured, while wealth-management affiliates may face position-level reporting for the first time.? 

For global dealers, the rewrite should simplify cross-border reporting once initial re-tooling costs are absorbed. By mirroring CFTC rule-text and embedding international Common Data Elements (CDEs), Canada removes a long-standing source of fragmentation that forced firms to maintain parallel mappings for ostensibly identical swaps.? 

Regulators, meanwhile, gain cleaner, more comparable data for systemic-risk surveillance—particularly valuable as interest-rate, commodities and crypto-linked derivatives volumes migrate between North American venues. With the clock ticking, market participants now face a tight—but achievable—window to finish development, certify with their trade repositories and lock down operational playbooks before the 25 July go-live. Failure to do so could leave firms unable to submit day-one reports and expose them to enforcement action from provincial regulators.?

Bowmoor Capital and SummerHaven Adopt TT Futures TCA for Enhanced Trading Insights

Trading Technologies International, Inc. (TT) has announced that Bowmoor Capital and SummerHaven Investment Management have deployed TT Futures TCA to support their trading and execution strategies. TT Futures TCA, launched last year, offers a robust transaction cost analysis tool tailored for futures trading. It leverages a significant dataset comprising anonymised, aggregated microsecond-level market and trade data, allowing firms to customise metrics to suit their trading goals and confirm best execution practices.

The product is part of TT’s Data & Analytics division, bolstered by the 2023 acquisition of Abel Noser Solutions. It includes depth-of-market insights and will soon feature pre-trade cost estimation capabilities. This enhancement is designed to aid firms in forecasting execution outcomes based on historical data and market conditions. These tools align with TT’s broader initiatives to provide transparency and efficiency in institutional trading.

Robeco Launches Biodiversity, Avoided Emissions Tools

Asset manager Robeco has launched a sectoral biodiversity analysis tool that helps investors identify an issuer’s risks to nature and resource loss as well as its nature performance.

The Biodiversity Traffic Light tool was built with the input of asset owners and cleaves to the guidelines of the Taskforce for Nature-Related Disclosures. It focusses on the causes of nature loss, and impacts on nature, that are most pertinent to each company.

Robeco was also behind another tool launched earlier in the month that helps investors assess the decarbonisation impacts of different climate solutions.

Built with asset managers Mirova and Edmond de Rothschild AM as well as consulting firms I Care by BearingPoint and BCG’s Quantis, the Avoided Emissions Platform models the avoided emissions that might result from 65 climate solutions.

Diginex Collaboration Builds ESG Reporting Tool for Malaysian Companies

ESG technology provider Diginex has collaborated with artificial intelligence technology firm AIKYA to build a sustainability reporting tool to help businesses in Malaysia access sustainable finance opportunities, among other benefits.

DiginexESG is built to enable reporting according to Global Reporting Initiative, Sustainability Accounting Standards Board and the Taskforce on Climate-related Financial Disclosure guidelines as well as local codes.