The Derivatives Service Bureau Calls for Responses to 2023 OTC ISIN Consultation Paper

The Derivatives Service Bureau (DSB) has published the 2023 industry consultation paper related to 2024 OTC International Securities Identification Number (ISIN) and Classification Financial Instrument code (CFI) service provision. The consultation paper focuses on the next steps for the security operations centre investigated as part of the 2022 industry consultation. It also looks at the proprietary index workflow and any industry suggestions for improvement. A review of proposed changes to the release process is also raised in the consultation, as well as the search only API user type fee determination based on the infrastructure and support costs for programmatic connectivity.

Stakeholders have until 31 May 2023 to respond to the consultation paper. The final report will be published on 30 June 2023.

Pico Launches Corvil Cloud Analytics on AWS

Pico, the global provider of technology services, software, data and analytics for the financial markets community, has announced the general availability of its Corvil Cloud Analytics on AWS (Amazon Web Services) public cloud environments. As more businesses migrate to the cloud, Corvil Cloud Analytics provides the same high-quality, granular data capture and analytics capabilities as its on-premises counterpart in a cloud-based solution.

Corvil Cloud Analytics caters to various use cases, including cloud-hosted exchanges, financial service providers, research and development challenges, security, algo back-testing, and real-time workload performance tuning. Already trusted by the world’s largest banks, exchanges, electronic market makers, quantitative hedge funds, data service providers, and brokers, Corvil is now working on further expanding its cloud solutions with the Google Cloud Platform (GCP), expected to launch later this year.

SSImple Unveils SaaS DLT Platform to Transform Standing Settlement Instructions Management

SSImple, a SaaS DLT platform, has launched a post-trade offering aiming to revolutionise the way standing settlement instructions (SSIs) are stored, shared, and enriched across the financial services industry. With incorrect SSI data or usage accounting for 30% of settlement failings according to industry estimates, the platform aims to mitigate risk, create efficiencies, and reduce costs for custodians, prime brokers, buy-side firms, broker-dealers, and third parties.

SSImple’s platform uses a robust industry rule engine to ensure multi-asset class SSIs are entered correctly. The platform enables automation of SSI delivery, receipt, and permission access, as well as logical enrichment at the point of electronic trade confirmation. By interacting with distributed ledger technology (DLT) databases, SSImple selects the correct SSI based on DLT position keeping records, providing real-time updates and greater transparency.

Exchange Data International Adds Email Alerts to Worldwide Corporate Actions Service

Exchange Data International (EDI) has introduced corporate action email alert files to accompany its worldwide corporate actions service for upcoming effective and ex-dates. The alert files provide clients with a customised alert up to 30 days before a required corporate action becomes effective, providing investors with time to make informed trading or investment decisions. Additionally, clients can receive an unlimited number of reminders before events become effective. All fields from EDI’s worldwide corporate actions feed are available, meaning alert files can be based on a variety of dates, including ex-date, record date, pay date, and effective date.

Jonathan Bloch, EDI CEO, says: “This is a timely addition to our services given that the US market will be going T+1, putting enormous pressure on back offices to be more efficient. These alerts will ensure that important dates are not missed.”

TS Imagine Partners with Crypto Finance to Offer Enhanced Crypto Trading Connectivity for Institutional Clients

TS Imagine, the global provider of cross-asset trading, portfolio, and risk management solutions, has announced a successful partnership with Crypto Finance, a European prime broker for digital assets. The collaboration will allow institutional clients to access greater connectivity and liquidity in cryptocurrency trading, with TS Imagine’s clients benefiting from Crypto Finance’s advanced trading infrastructure and comprehensive market coverage.

TS Imagine was formed in 2021 following the merger of Trading Screen and Imagine Software and recently launched a real-time risk platform, RiskSmartX.

IPC and Kaiko Join Forces to Deliver Real-time Crypto Market Data to Connexus Crypto Ecosystem

Communication solutions provider IPC has partnered with Kaiko, the cryptocurrency market data provider, to offer enterprise-grade data to IPC’s Connexus Crypto ecosystem. Launched last year, Connexus Crypto is designed to support complex trading strategies and provides low latency connectivity to multiple global crypto exchanges.

With Kaiko’s integration, IPC’s Connexus Crypto trading environment will now deliver real-time stream data, including spot and derivatives, as well as aggregated quotes and rates. This will enable users to implement efficient arbitrage and algorithmic trading strategies while ensuring effective risk management, investing, monitoring, and regulatory compliance activities.

S&P Global Market Intelligence Enhances APAC Corporate Events Data

S&P Global Market Intelligence has enhanced its APAC corporate events data and transcript coverage through the acquisition of SCRIPTS Asia Inc’s Asia, ex-Japan, database. The acquired Mandarin, Cantonese and Korean databases are available through S&P Global Market Intelligence’s Capital IQ Pro, Xpressfeed and Snowflake delivery channels, and allow the company to provide coverage of Asian corporate events for more than 3,200 companies. S&P Global Market Intelligence will continue to provide Japan event coverage through a long-term agreement with SCRIPTS Asia K. K. that delivers Japanese content.

Quantexa Adds Decision Intelligence Platform to Google Cloud Marketplace

Quantexa, a provider of decision intelligence solutions, has expanded its partnership with Google Cloud by adding its Decision Intelligence Platform and solutions to Google Cloud Marketplace. The solutions include data management, customer intelligence, Know Your Customer (KYC), financial crime, fraud and security, and risk. The partnership enables customers to quickly deploy Quantexa’s solutions globally on Google Cloud’s secure and sustainable infrastructure.

FIX Protocol Includes Digital Token Identifier

The Digital Token Identifier (DTI) ISO standard has been added to the Financial Information eXchange (FIX) Protocol, the industry-standard messaging protocol for electronic communication. The addition means financial institutions will be able to use the FIX Protocol to send messages with DTIs both internally and externally.

The DTI standard is increasingly being used as it uniquely identifies digital ledgers, digital tokens and cryptocurrencies using publicly available information. It can also be used by regulators to monitor digital asset trades for anti-money laundering and combating terrorist financing requirements, and for monitoring systemic risks arising from trading of global stable-coins and other digital assets. The DTI has also been recommended by ESMA as a risk management measure under the DLT Pilot regime.

42Markets Group Secures $10m Investment from Convergence Partners for Fintech Portfolio Expansion

42Markets Group, a fintech investment group, has raised $10m in growth funding from Convergence Partners, a prominent private equity investor focusing on sub-Saharan Africa’s technology sector. The funds will be used to accelerate the development and expansion of 42Markets’ portfolio companies: Mesh, Andile, and FX Flow.

Convergence Partners’ investment in 42Markets is supported by 14 global development finance institutions (DFIs) from Europe, the US, and Africa.