A-Team Insight Brief
Euroclear to Use Taskize for CSDR Penalty Appeals
Euroclear is expanding its use of Taskize’s collaboration tools as the preferred channel for its 2,000+ members to appeal penalties at both the International Central Securities Depository (ICSD) and its domestic CSDs, under the upcoming CSDR Settlement Discipline Regime. Using a Taskize Bubble that has been specifically built around a penalty appeal template, Euroclear members will have a single digital channel to manage the penalties and appeals process.
Trade Surveillance Hindered by Fragmented Systems, VoxSmart Study Finds
Almost 70% of financial institutions believe that fragmentation of their approach due to siloed surveillance systems increases the risk of market abuse, according to a VoxSmart survey of almost 80 investment banks, brokers, and investment managers. The findings come as the potential for market abuse continues to accelerate globally as financial institutions continue to adjust to the new hybrid working world, according to the company.
BNP Paribas Adds IHS Markit as Calculator for Uncleared Margin Rules
BNP Paribas Securities Services has added IHS Markit as an initial margin calculation source to its existing service for clients that are in-scope for Uncleared Margin Rules (UMR) in derivatives markets. The expanded collaboration complements the valuations services that IHS Markit has provided BNP Paribas Securities Services since 2012. BNP Paribas offers a full end-to-end solution for Regulatory Initial Margin (IM) with IM Calculation, Exposure Management and IM Segregation in Triparty.
BidFX Links to Osttra for FX Clearing Under UMR Phase 6
BidFX, a provider of cloud-based foreign exchange trading solutions, has integrated Osttra’s clearing connectivity service, allowing investment managers to submit trades directly to leading CCPs. The development, which gives BidFX clients wishing to clear trades access to an established community of more than 30 executing bank clearing counterparties, is aimed at helping investment managers who choose to clear more of their FX flow under Phase 6 of the Uncleared Margin Rules (UMR), which comes into force in September. Osttra is a joint venture between IHS Markit and CME Group and combines the MarkitServ, Traiana, TriOptima and Reset businesses.
SteelEye Gains SOC 2 Certification
Compliance and data analytics provider SteelEye has secured System and Organisation Controls (SOC) 2 certification. Defined by the American Institute of CPAs (AICPA), and covering the principles of Security, Availability, Confidentiality, Processing Integrity and Privacy, SOC 2 assesses firms’ safeguarding of customer data. The accreditation underpins SteelEye’s efforts to ensure robust data security.
Trulioo Enhances Digital Onboarding with Acquisition of HelloFlow
Trulioo, a provider of global identity verification, has acquired HelloFlow, a no-code, drag-and-drop builder of client onboarding, monitoring and digital workflow solutions. The acquisition accelerates the delivery of a single end-to-end identity platform by combining Trulioo GlobalGateway, a data and identity services network for both business and individual verification, with a suite of orchestration, onboarding workflow and risk management capabilities. While optimising onboarding workflows, the platform also ensures compliance with KYC, AML and other regulatory and fraud prevention requirements.
JPM Digs in the Dirt for Supply-Chain Risk Data
JP Morgan Asset Management will soon be using soil analysis data among other forensic sources to calculate supply-chain risk to its investments. As part of the effort, the investment arm of the New York-based banking giant has reportedly hired a third-party vendor to examining soil samples to discover the sources of cotton used by clothing companies. The bank is trialling the use of forensic data after attempts to source similarly granular information using AI proved unsatisfactory.
Transcend Includes ESG Criteria in Collateral Analytics
Analytics provider to the collateralised markets Transcend will incorporate ESG criteria into its processes. Clients will be able to add ESG performance metrics into their collateral management and workflows. The New Jersey-based company will include metrics including restriction lists, KPI data as well as ESG scores and ratings.
Avelacom Offers New PoP at Bursa Malaysia
Infrastructure and data solutions provider Avelacom has deployed a new point-of-presence (PoP) at Bursa Malaysia, to extend its network footprint into Malaysia capital markets. Avelacom recently set up a PoP in Bangkok at the Stock Exchange of Thailand (SET), extended its partnership with Singapore Exchange (SGX), and became a Japan Exchange Group (JPX) arrownet-Global Partner Network provider.
Quant Insight Targets Retail Traders with iQbyQi Institutional-Grade Analytics
Analytics and trading insights provider Quant Insight has launched iQbyQi, providing retail traders in EMEA with what the company calls institutional-grade analytics, previously available only to asset managers and hedge funds. iQbyQi, which initially will be made available via online brokers, uses cloud-based AI to analyse millions of data points in real time in order to highlight opportunities and risks, then broadcast insights and analytics tailored specifically to individual traders. Coverage ranges from FX to single stocks, indices, commodities, cryptocurrencies and futures.