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.

SIX Incorporates Bridgewise AI Analytics into SIX iD

Swiss data and markets provider SIX has integrated Bridgewise’s artificial intelligence-supported analyses into its SIX iD data search and visualisation tool.
Bridgewise will provide fundamental analysis, peer comparisons, target price forecasts and insights into events likely to have an impact on stocks. SIX clients will also gain access to Bridget, Bridgewise’s AI chatbot, which can launch detailed searches through conversational prompts.

Bridget uses a micro language model (MLM) that specialises in investment and capital markets.

Aquis and Cboe Europe Announce Joint Bid for EU Equity Consolidated Tape Provider Role

Aquis Exchange PLC and Cboe Europe have announced plans to form a joint venture, SimpliCT, in a bid to become the EU’s equity consolidated tape (CT) provider. The project, which aims to create a comprehensive and cost-efficient view of market activity for European equities, will be based in the Netherlands and leverage the combined expertise of the two firms.

SimpliCT will focus on delivering a high-quality, real-time feed of equity market data across the EU, aligning with the European Commission’s mandate under the MiFIR Review, which requires a single provider to handle pre- and post-trade consolidated data. The European Securities and Market Authority (ESMA) will oversee the selection process, expected to begin in June 2025, with a decision anticipated by the end of that year.

Natan Tiefenbrun, President, North American and European Equities, Cboe Global Markets, commented: “As a firm that has consistently championed for the introduction of a consolidated tape, we are thrilled to be launching SimpliCT in partnership with Aquis, who share our long-held belief in the significant benefits a well-operated and governed tape can bring to EU capital markets. As one of the most important market infrastructure developments the EU has introduced for many years, it requires a provider that has the necessary technical, operational, and commercial expertise, and is aligned to policy makers’ vision and objectives for the tape. SimpliCT has been created to meet this ambitious goal, by seeking to leverage the leading capabilities of its founder firms and their unwavering commitment to see it succeed.”

As equal shareholders, Aquis and Cboe will contribute their extensive experience in EU-regulated markets, technology, and trade reporting. Together, their platforms process over half of daily European equity trades, positioning them as strong contenders for the CT role. The new venture also underscores both companies’ commitment to the EU’s Capital Markets Union, aiming to enhance the visibility of European issuers and attract global investment by improving market accessibility.

Alasdair Haynes, Chief Executive, Aquis, said: “Aquis has long been an advocate of a consolidated tape in Europe, and is delighted to be partnering with Cboe, an operator that has been similarly steadfast in its commitment. The advantages to the industry of establishing a tape have been clear for many years, and both Aquis and Cboe have been strong supporters. Together with Cboe, we have identified a clear opportunity to serve the financial community as an independent and competitive operator through the formation of SimpliCT. This proposed joint venture would not only represent a cost-efficient, robust business model that integrates advanced complementary, proprietary technologies, it would also be designed to deliver fair compensation for data contribution, aligning the interests of contributors and consumers.”

If selected, SimpliCT would operate with a governance framework designed to ensure fair treatment of data contributors and consumers. A dedicated management team and an industry advisory committee are expected to be appointed to oversee its development and operational strategy.

FFG Asset Management Adopts DTCC’s Institutional Trade Processing Services for Full Automation of Post-Trade Processes

The Depository Trust & Clearing Corporation (DTCC) has deployed its Institutional Trade Processing (ITP) services at Japan’s FFG Asset Management (FFG AM) to automate post-trade processes for both equities and fixed income transactions. By implementing DTCC’s solutions, including CTM, ALERT, and Settlement Instruction Manager, FFG AM aims to streamline domestic and cross-border transaction processes, achieving no-touch trade processing and faster settlements.

This move helps FFG AM reduce reliance on manual workflows, enhancing operational efficiency and aligning with the global financial industry’s shift towards accelerated settlement cycles, including the U.S. transition to T+1. The integration of DTCC’s platforms will enable faster trade confirmation and affirmation while ensuring the accuracy of account data and settlement instructions, supporting a more efficient settlement lifecycle.

Takashi Yoshinaga, Representative Director of FFG Asset Management, commented: “In addition to the global movement around the shortening of settlement cycles, the domestic Tokyo Stock Exchange is planning to extend its trading hours, making it increasingly important to carry out post-trade operations quickly and accurately. We look forward to benefiting from DTCC services’ capabilities to improve efficiency and robustness while leveraging a fully automated post-trade process.”

Val Wotton, Managing Director and General Manager, DTCC Institutional Trade Processing, added: “DTCC’s ITP is uniquely positioned to enable counterparties to reach settlement finality faster while seamlessly connecting the ITP community to thousands of counterparties around the world.”

Appital Facilitates Record $78 Million European Equity Transaction, Setting New Benchmark for Liquidity Discovery

Appital, , the price discovery and liquidity sourcing platform, has facilitated a record-breaking $78 million transaction in a listed European large-cap equity. The transaction, 2.3 times the average daily volume (ADV), was executed on LSEG’s Turquoise MTF, surpassing the previous largest transaction of $30 million. This milestone comes just weeks after the launch of Appital’s Price Discovery feature within Appital Insights, which allows institutional investors to uncover hidden liquidity and optimise transaction pricing.

Leveraging its innovative platform, Appital proactively sourced liquidity, enabling trading and portfolio management teams to generate large-scale orders. This transaction underscores the success of Appital’s Price Discovery mechanism in transforming how institutional investors approach liquidity challenges, according to the company. With an average order size of 1.8 times ADV, Appital has facilitated transactions ranging from $1 million to $260 million, setting new standards for liquidity discovery in European equity markets.

Mark Badyra, CEO of Appital, commented: “Facilitating a record-breaking $78 million transaction is yet another milestone for Appital and exemplifies how our Price Discovery mechanism is reshaping liquidity management. Our technology consistently uncovers hidden liquidity by proactively sourcing the opposing side of trades, proving there’s far more opportunity available in the market than visible live orders. This unlocks new opportunities for trading teams to generate liquidity and execute more efficient transactions.”

Adam Wood, CEO of Turquoise, added: “We are thrilled to have worked with Appital in setting new benchmarks for liquidity discovery. This collaboration reflects our commitment to driving innovation in the marketplace, offering our clients leading liquidity solutions that deliver better execution outcomes. Together, we are pioneering new ways for institutional investors to trade with confidence in a market for size.”