TradingTech Insight Brief
Clearstream Launches Next Data Solutions to Enhance Post-Trade Analytics
Clearstream, part of Deutsche Börse Group, has introduced Next Data Solutions, a new suite of analytics designed to increase transparency across the post-trade value chain. The offering unifies four specific products—SettlementNext, LendingNext, CollateralNext, and LiquidityNext—under a single framework. The primary objective is to enable financial institutions to shift from retrospective reporting to proactive decision-making, allowing them to anticipate settlement challenges, optimise collateral allocation, and manage liquidity in real time.
Within the SettlementNext product, Clearstream has introduced the T+1 Scorecard to support clients preparing for the accelerated settlement cycle in Europe. This tool provides insights into the operational effort required to meet T+1 compliance standards. Next Data Solutions is currently available to clients through the Clearstream Xact web portal, with additional analytics modules scheduled for release in 2026.
Digital Asset Secures Strategic Investment from BNY, iCapital, Nasdaq and S&P Global
Digital Asset has received a new strategic investment from major financial institutions, including BNY, iCapital, Nasdaq and S&P Global. This funding supports the continued development of the Canton Network, a privacy-enabled blockchain designed to facilitate the convergence of traditional finance and decentralised finance. The collaboration highlights a wider industry shift towards an “AllFi” future, combining the benefits of decentralisation with the legal certainty and regulatory compliance required by global markets.
The Canton Network serves as a public, permissionless Layer-1 blockchain offering institutional-grade compliance and configurable privacy. It currently underpins over $6 trillion in onchain real-world assets, with participation from more than 600 institutions. The platform supports a diverse set of financial use cases, including bonds, equities, money market funds, commodities and insurance products, positioning itself as a critical component of next-generation financial market infrastructure.
Kraken and Deutsche Börse Group Form Strategic Partnership to Bridge Digital and Traditional Markets
Kraken and Deutsche Börse Group have announced a strategic partnership designed to create unified access across traditional financial markets and the digital asset economy. Effective immediately, the collaboration will span trading, custody, settlement, and collateral management to serve institutional clients. In the first phase, Kraken will integrate with 360T, a Deutsche Börse subsidiary, to access bank-grade foreign exchange liquidity. This integration aims to improve the efficiency of fiat on- and off-ramps while ensuring institutional-grade execution.
The partnership also intends to utilise Kraken Embed to develop white-label solutions, allowing financial institutions in Europe and the US to offer secure crypto trading and custody. Subject to regulatory approval, the firms plan to make Eurex-listed derivatives available on Kraken and enable Deutsche Börse clients to trade cryptocurrencies via Crypto Finance. Additionally, the companies will collaborate on tokenised assets by integrating xStocks within the 360X ecosystem and distributing tokenised securities held at Clearstream to Kraken’s clients, effectively leveraging Deutsche Börse’s European infrastructure and Kraken’s US capabilities.
SmartStream Introduces AI-Driven Smart Agents for Investigations to Automate Financial Reconciliations
SmartStream has announced the preview of Smart Agents for Investigations, a solution designed to bring augmented and autonomous capabilities to financial reconciliations and back-office operations. Integrating with SmartStream’s current platforms, these agents utilise domain-trained AI to triage, investigate, and resolve exceptions. The system understands the context of breaks, adheres to customer playbooks, and autonomously sources missing information. Crucially, it documents every action for audit and compliance purposes, shifting the user experience from manual investigation to a streamlined review and approval process.
This development addresses the heavy operational burden of manual exception handling, which currently accounts for up to 70% of effort in financial institutions. Complex, time-sensitive exceptions often lead to high costs, SLA breaches, and settlement risks. By automating these processes, Smart Agents aim to reduce reliance on manual intervention, eliminate knowledge silos, and improve scalability during volume spikes. This ensures greater operational resilience and allows analysts to focus on risk management rather than administrative tasks.
LSEG Integrates MCP Connector for ChatGPT users and OpenAI Enterprise Customers
LSEG is collaborating with OpenAI to integrate its financial data and news into ChatGPT via a Model Context Protocol (MCP) connector. As part of the ‘LSEG Everywhere’ strategy, this integration allows users with LSEG licensed credentials to access and analyse market data directly within the ChatGPT interface. The rollout will commence with LSEG Financial Analytics, enabling faster insights and deeper market analysis, with the connector expected to be live from the week of 8 December 2025.
Additionally, LSEG is deploying ChatGPT Enterprise to an initial 4,000 employees to streamline internal tasks and enhance productivity within a secure environment. LSEG will work alongside OpenAI’s technical success teams to ensure the effective adoption of these AI models. This partnership builds upon LSEG’s recent collaborations with other enterprise-grade platforms, including Microsoft and Databricks, to deliver trusted licensed data for AI applications in the financial services sector.
ION Integrates Tradeweb ETF RFQ Functionality into Fidessa Trading Platform
ION has announced that its Fidessa trading platform now supports Request for Quote (RFQ) functionality for Exchange Traded Funds (ETFs), featuring an integration with the Tradeweb electronic trading platform. This collaboration allows mutual clients to access Tradeweb’s ETF RFQ workflow directly within their existing Fidessa environment, creating a seamless connection between the two systems for institutional investors.
The integration focuses on enhancing automation and efficiency across the entire trade lifecycle, from execution to settlement. Users can manage ETF RFQs on their Fidessa screens, utilising Tradeweb’s straight-through processing tools to reduce manual intervention and minimise trade errors. In addition to streamlining access to global liquidity, the functionality aims to strengthen compliance and risk management by providing a transparent, auditable trail of quote requests and pricing to ensure best execution obligations are met.
Bright Point International Expands FX and Precious Metals Operations Through Integral Partnership
Bright Point International Financial (BPI), a Singapore Exchange Derivatives Trading and Clearing Member, has advanced its partnership with currency technology provider Integral. By implementing Integral’s Price Engine, Distribution, and Liquidity Aggregation products, BPI intends to scale its foreign exchange (FX) and precious metals operations. The new technology provides ultra-low latency access to a wide range of liquidity providers, a capability that is essential for trading non-deliverable forwards and outright forwards – products which are currently seeing increased demand across the Asian market.
The implementation allows BPI to offer features specifically tailored to local requirements, such as the automated conversion of precious metals pricing from troy ounces to grams and kilograms. Furthermore, the system enables the creation of synthetic crossed pairs beyond the US dollar, addressing growing client demand for trades involving Asian currencies like the Singapore dollar, Hong Kong dollar, and Thai baht. This functionality supports BPI’s strategy to diversify its client base and facilitate payment requirements for financial institutions in emerging markets.
TNS Expands APAC Presence with Connectivity to Tokyo Financial Exchange
Transaction Network Services (TNS) has expanded its market data infrastructure in the Asia-Pacific region by establishing connectivity to the Tokyo Financial Exchange (TFX). This integration provides TNS customers with direct access to TFX, delivered seamlessly via the company’s global network backbone. By securing this link, TNS enables both domestic and international firms to utilise a comprehensive, managed access solution for the Japanese market through a single provider.
The addition of TFX marks the completion of TNS’ connectivity across all major Japanese exchanges. This expansion complements the company’s existing portfolio, which includes Japannext and the Japan Exchange Group (JPX), encompassing the Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange. With this connection now in place, TNS delivers a full suite of services in Japan, including hosting, market data, and connectivity.
CJC Launches Market Data Continuity Support Service
Crown Jewels Consultants Ltd (CJC) has introduced Market Data Continuity Support (MDC), a flexible subscription service providing an on-demand safety net for mission-critical market data operations. Designed for financial firms that require operational resilience but do not need a comprehensive managed service, MDC addresses the risks associated with data failures, such as frozen prices and trading stoppages. The service grants clients priority access to CJC’s senior engineers to diagnose and resolve issues either remotely or on-site.
Offered through a fixed monthly subscription, MDC includes 24/7 access to global specialists and a specific allocation of on-site hours. A key feature of the offering is that every support request is treated as a Severity Level 1 incident, ensuring immediate triage and rapid resolution by experts familiar with real-time data environments. This approach allows firms to manage critical infrastructure costs while maintaining access to high-level technical support during operational emergencies.
Marshall Wace Adopts Bloomberg’s MAC3 Risk Model for Systematic Investment Strategies
Bloomberg has announced that Marshall Wace, the global liquid alternatives manager with over $70 billion in assets, has adopted the Bloomberg Multi-Asset Class Fundamental Risk Model (MAC3). The firm will utilise MAC3 to support its quantitative research and systematic investment strategies. Marshall Wace selected the MAC3 suite to gain access to advanced modelling techniques that provide improved specification, accurate risk forecasts, and robust analytics for measuring portfolio risks across multiple asset classes.
Calculated daily across more than 3,000 factors, the MAC3 models are designed to deliver forecast accuracy for varied portfolios and investment styles. They allow users to identify broader market signals and understand risk dynamics under different regimes. Accessible through open-infrastructure APIs, these models also power the risk analytics behind Bloomberg’s PORT Enterprise, a premium service used by more than 800 clients for portfolio risk and return attribution.