Torstone Technology Secures DTCC’s CTM Certification for Enhanced Post-Trade Processing

Post-trade securities and derivatives processing solutions provider, Torstone Technology, has successfully completed its Middle Office product certification with the Depository Trust & Clearing Corporation’s (DTCC) Central Trade Manager (CTM) service. The collaboration with DTCC’s CTM, a global central matching platform, is timely in light of the upcoming US transition to a T+1 settlement cycle in 2024. The integration aims to provide automated central matching, essential for maintaining accuracy and efficiency in the face of shorter settlement periods.

The certification of Torstone’s Middle Office product with DTCC’s CTM promises to not only streamline the implementation process but also offer a more reliable and secure environment for post-trade activities. Additionally, the integration includes features from DTCC’s ALERT, the industry’s most extensive database for the maintenance and communication of settlement instructions.

TS Imagine Partners with Kayenta to Enhance Hedge Fund Treasury Management

TS Imagine has joined forces with Kayenta to integrate Kayenta’s Treasury Management System into TS Imagine’s TS One platform, to enhance finance management capabilities for hedge funds. The partnership aims to provide clients with clearer insights into their financing costs and broker relationships, particularly crucial in the context of rising interest rates.

With Kayenta’s analytics, TS One users will gain comprehensive insights into cash, collateral, and cost management for their multi-asset and multi-prime portfolios, alongside improved automated reporting. The collaboration builds on TS Imagine’s continued expansion of trading and risk management services, following a recent alliance with Cassini Systems for margin and collateral analytics.

interop.io and Infront Team Up for Deutsche Numis Trading Platform Enhancement

Interoperability provider interop.io and Infront, the European financial market data solutions provider, have collaborated to enhance the trading platform for Deutsche Numis, an international investment bank and retail service provider. This initiative comes as retail trading volumes hit record highs, surpassing the meme-stock trading surge of 2021.

To capitalise on this growth, Deutsche Numis has improved its trading execution workflow by utilising interop.io’s platform, io.Connect, to integrate its core Fidessa platform with Infront’s retail service provider quotation (RSP) solution. The connection between the systems includes synchronisation of instruments using tracking groups and colour channels, to improve efficiency and to streamline workflow for traders.

TS Imagine Launches Best Execution Compliance Module

In a development complementing TS Imagine’s recent collaboration with eflow for trade surveillance capabilities, the trading and risk management platform provider has introduced a new module within its TradeSmart OEMS and TS One platforms to enhance Best Execution compliance and reporting for financial traders.

Designed to simplify compliance, the module offers an integrated view of trade activities, automatically records trading actions, provides robust data analysis, event classification and real-time commentary functionalities, and generate best execution reports. The module is pre-programed with more than 60,000 rules from across global jurisdictions, enabling users to automatically record and report their Best Ex compliance.

BMLL Technologies Secures ISO 27001 Certification for Data Security

Level 3 historical data and analytics provider BMLL Technologies, has been awarded the ISO 27001 certification, underscoring its commitment to the highest standards of information security. This international accreditation confirms BMLL’s effectiveness in implementing a robust Information Security Management System (ISMS), covering all aspects of its operations, including the development and management of its analytics platforms and data services.

The certification, awarded after rigorous independent evaluation, confirms that BMLL follows stringent security practices to protect sensitive data, reinforcing the company’s reputation as a trusted provider of Level 3 historical data and analytics to the capital markets industry.

DTCC Introduces Trade Reporting Analytics and UTI Exchange to Report Hub Service

DTCC has announced the launch of Trade Reporting Analytics and UTI Exchange as enhancements to Report Hub, its cloud-based pre- and post-trade reporting platform, designed to help firms meet derivatives and securities financing transactions mandates.

Trade Reporting Analytics provides access to a library of over 100 data insights to identify potential errors, highlight trends, and benchmark performance against anonymized peers. The system’s capabilities have been validated by a pilot user group including J.P. Morgan, Nomura Americas Services, LLC and Wells Fargo.

Substantive Research Uncovers Rapid Increases in Market Data Pricing Amidst Regulatory Scrutiny

The latest analysis of 2023 market data pricing from research discovery and analytics provider Substantive Research, reveals that market data prices are going up faster than ever, identical products and use cases are charged inconsistently, and agreements are persistently unclear.

This comes despite the Financial Conduct Authority’s (FCA) ongoing review into market data pricing practices. In August 2023, the FCA indicated that its highly anticipated Wholesale Market Data Study, due for publication in March 2024, will outline several concerns, including restrictive terms around data usage, high barriers to entry, high contract renewal charges, and a lack of meaningful innovation in the market.

Although the FCA has found that some aspects of the market prevent, restrict or distort competition, it has stated it not proposing to make a referral to the UK’s Competition and Markets Authority, believing it is best positioned to address these issues within the FCA itself.

Substantive Research’s data shows ratings agencies have increased prices by an average 12%, index providers by an average 13%, and some outliers have charged clients up to 600% more. For specific products, some consumers are paying more than 26 times than others for very similar requirements, according to the analysis.

Tokyo Stock Exchange Partners with Broadridge for Enhanced ETF Trading

Tokyo Stock Exchange, Inc. (TSE) has collaborated with Broadridge Financial Solutions, Inc. to introduce a direct connection between CONNEQTOR, TSE’s exchange traded funds (ETFs) trading platform, and Xilix, Broadridge’s execution management system (EMS).

The new integration will offer asset management firms, including Sumitomo Mitsui DS Asset Management Co., Ltd., a streamlined and more efficient ETF trading process directly from Xilix.

Murex and Rabobank Strengthen IT Partnership with Successful MX.3 Implementation in Brazil

Murex has expanded its partnership with Rabobank, completing a key phase in a global IT transformation with the successful launch of back office, operations, and finance functions on the MX.3 platform in Rabobank Brazil. This upgrade follows earlier front office and risk integrations.

The MX.3 platform in Rabobank Brazil now supports an extensive range of both onshore and offshore products, offering features from trade capture to risk management and regulatory compliance. This initiative consolidates the Markets and Treasury IT systems for Rabobank Brazil, ensuring alignment with local regulatory and banking standards.

LIST Completes Phase Two of Borsa Italiana’s Migration to Euronext’s Optiq Platform

LIST, an ION company, has completed the second phase of transitioning its Borsa Italiana clients onto Euronext’s Optiq technology trading platform. After successfully completing the equity segment in March 2023, LIST has now enhanced its FastTrade trading solution to support the shift of Italian bond markets to the new platform.

The move also involves introducing new software versions to accommodate market model changes, entirely revamping data centres and telecom infrastructure, and managing colocation services, building on the equity rollout in March 2023.