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The leading knowledge platform for the financial technology industry

A-Team Insight Brief

CME Updates FX Market Profile Tool With Additional Futures Markets and Cash Equivalents

CME Group has updated its FX Market Profile analytics tool to provide live and historical analysis for 18 FX futures markets and cash equivalents. The tool provides comparisons between CME Listed FX futures and products from EBS Market and EBS Direct, on a side-by-side basis.

Building on the 11 previously available, users can now analyse 18 FX futures markets, as well as 8 FX Link contracts, and the OTC Spot FX equivalents, choosing either daily, weekly, or monthly averages over a historic period of up to 6 months. Enhancements to the tool, which is available free of charge from the CME Group website, include historic data analysis, actual traded volumes in Listed FX, and also the inclusion of FX Link data.

Broadridge Integrates OpenFin into Portfolio Management System

Broadridge Financial Solutions plans to integrate OpenFin’s operating system into its next generation portfolio and order management system, allowing users to benefit from componentised apps with configurable layouts and intuitive workflows. The partnership should help portfolio managers manage their desktop real estate more efficiently and increase productivity by reducing effort and time needed to navigate across multiple windows and screens.

BNP Paribas Selects InvestCloud for Client Relationship and Lifecycle Management Services

BNP Paribas Wealth Management has selected InvestCloud to build client relationship and lifecycle management services to onboard clients who are high net worth individuals (HNWIs). The selection was made on the basis of InvestCloud’s automation technology, which is expected to bring operational efficiency to onboarding HNWIs, ease of integration with existing systems using InvestCloud’s modular architecture, and enablement of BNP Paribas relationship managers to provide HNW clients with a more responsive and proactive level of service. InvestCloud specialises in digital platforms that enable the development of financial solutions that are pre-integrated into the cloud.

Chronicle Software & Reactive Markets Partner to Provide Access to FX & Crypto Liquidity

High-performance trading technology vendors Chronicle Software and Reactive Markets have announced a partnership that will provide ultra-low latency access to multiple FX and digital assets liquidity pools via a single API. The partnership provides out-of-the-box integration between Chronicle FIX and Switchboard, Reactive’s institutional trading network, and will provide simplified access to additional pools of FX and cryptocurrency liquidity.

The Chronicle FIX low latency engine is used across multiple asset classes including equity, FX and cryptocurrencies. Switchboard gives liquidity takers free, instant access to fully disclosed pricing from a rapidly growing list of FX and cryptocurrency OTC liquidity providers. Liquidity providers using Chronicle FIX can now scale their distribution by pricing to any taker on the Switchboard network.

SmartStream Partners with Acadia to Automate Collateral Interest Payments

Financial transaction solutions vendor SmartStream has partnered with risk management services provider Acadia to automate the processing and calculation of interest statements for SmartStream’s customers and their counterparties. Acadia’s Margin Manager platform will work alongside SmartStream’s TLM Collateral Management solution, to dispatch interest statements, reconcile, and resolve issues with counterparties in a standardised messaging format, removing the reliance on email exchanges and the uploading of statement data to resolve disputes. Acadia’s matching engine will pair statements, highlight discrepancies, and produce final interest statements for clients and their relevant counterparties.

Murex Collaborates with Gulf Bank to Launch MX.3 Treasury Management System

Paris-based technology vendor Murex has launched the MX.3 treasury management platform with Gulf Bank of Kuwait, to allow the bank to develop and automate its treasury and capital markets systems, and to enable seamless workflow across front-to-back-to-risk management and processing.

The platform will enable Gulf Bank’s Treasury Department to benefit from synergies in connected functions, organisation modelling, trade repository, workflow dashboards, in-depth reporting, automated triggers, and real-time monitoring of positions and risks. The new system will also help the bank improve efficiency, reduce costs, and instil greater control over trade aspects, from initiation to final matching.

Chronicle FIX Engine Deployed at ‘Leading North American Stock Exchange’

Low-latency technology solutions vendor Chronicle Software has deployed its FIX engine at a leading North American stock exchange, to provide low-latency connectivity to the exchange’s clients. The unidentified exchange cited Chronicle’s superior engine performance, microsecond latency and differentiated commercial model as reasons for working with the vendor. As part of the deal, the exchange has access to source code, enabling it to create and maintain a high throughput, performant and scalable FIX engine tailored to its exact requirements. The deployed solution is built on the Chronicle industry library and supports all versions of FIX.

Financial Stability Board Calls for Action on LIBOR Transition

The Financial Stability Board (FSB) has published a progress report to the G20 on LIBOR transition and remaining issues, noting that with timelines for cessation of LIBOR panels confirmed at the end of 2021 and mid-2023 ‘there should be no remaining doubts as to the urgency of the need to transition away from LIBOR by the end of 2021’. The FSB says the extent of risks associated with a failure to prepare adequately for LIBOR transition means the onus is now on firms to act. With limited time available until end-2021, it urges market participants to complete the steps set out in its Global Transition Roadmap.

Exchange Data International Partners XTAL Strategies

Exchange Data International (EDI) has partnered XTAL Strategies with the aim to support XTAL’s regulated private market benchmark initiative. The initiative comes ahead of EU Benchmark Regulation (BMR), which comes into force in 2022 and will require EU supervised users of indices to only use benchmarks that comply with the regulation. XTAL predicts the adoption of BMR standards will make current private market investor benchmarking tools obsolete. The initiative to develop private market benchmarks aims to fill the gap. EDI will source detailed information required to construct private equity indices on unlisted private market funds.

Santander Bank Polska Deploys Horizon for Market Making on Warsaw Stock Exchange

Santander Bank Polska, one of the largest financial institutions in Poland, has deployed Horizon Software for its market-making activities on the Warsaw Stock Exchange (WSE). The partnership gives Santander the tools and technology for both quoting and hedging, and covers a range of asset classes, including equities, equity futures and index futures on the WSE. The deployment provides clients who trade on WSE with a single cross-asset, algo-powered platform for both principal and agency trading, providing efficient access to the market and allowing clients to obtain an accurate monitoring of positions, according to the company.