ION Derivatives Platform Hit by Cyber Attack

ION Cleared Derivatives, a division of ION Markets, was hit by a cyber attack earlier this week, which has impacted its ability to run overnight processing of derivatives trades on its platform. LockBit, the Russian-linked ransomware group, has claimed responsibility for the attack.

According to reports, 42 of ION’s customers have been affected by the attack, with several forced to process trades manually. The FIA (Futures Industry Association) is working with affected members to assess the impact of the attack, which is ongoing.

ATB Financial Adopts smartTrade as end-to-End FX Platform

Canadian financial institution ATB Financial has adopted smartTrade as its client-facing FX platform. The firm sought a digital platform with sophisticated pre-trade, trade, post-trade and payments workflows, packaged in an easy-to-use format with integrated sales tools.

ATB cited smartTrade’s connectivity to liquidity providers, its support capabilities and the company’s integration experience as reasons for selecting it as an end-to-end solution.

Swiss Finance Corporation Selects Integral for eFX Trading and Workflow

Integral, the currency technology provider, has been selected by Swiss Finance Corporation (SFC), whi will use Integral’s cloud-based SaaS technology to modernize its offering and bring eFX trading to its customers.

Integral’s end-to-end workflow and eFX trading technology, which includes liquidity aggregation, price generation, distribution, risk management and analytics, was rolled out in a matter of weeks, according to the company.

Pico Upgrades Corvil VoIP Analytics

Pico, the technology services, software, data and analytics vendor, has announced a major upgrade to Corvil VoIP Analytics, its solution for providing real-time visibility of VoIP performance.

The upgrade provides the ability to capture and decode lossless granularly timestamped data at 100GB and apply it to VoIP applications. Future enhancements announced for release in 2023 include waveform analysis using machine intelligence to analyse voice quality on thousands of simultaneous calls. The product will also be available for cloud deployment on AWS in Q1 2023.

Horizon Launches Horizon Extend Development Platform

Electronic trading solutions and algorithmic technology provider Horizon Software has announced the release of Horizon Extend, a development framework for the Horizon platform.

Clients will be able to utilise Horizon Extend to create new pricing modules and hedgers within the system, to automate workflow, to add advanced routing rules for DMA flow, and to develop their own trading risk and control rules, among other things.

PRI Aligns Reporting Framework with that of TCFD

A pioneering sustainable investment disclosures organisation has made widescale changes to its reporting framework, amid calls that it fall in line with other reporting bodies. The United Nations-backed Principles for Responsible Investing (PRI) has loosened some of the reporting requirements that make its disclosures framework the largest in the industry. PRI signatories will now be asked to follow a framework more closely aligned with that of the Taskforce on Climate-related Financial Disclosures (TCFD).

European Regulators Give Backing to Planned CSRD Reporting Rules

Europe’s three main financial regulators have given conditional backing to the European Union’s proposed Corporates Sustainable Reporting Directive (CSRD), which will govern how companies disclose their ESG performance. The European Banking Authority (EBA), The European Insurance and Occupational Pensions Authority (EIOPA), and The European Securities and Markets Authority (ESMA) said the rules – termed European Sustainability Reporting Standards (ESRS) –needed to align with other global reporting standards.

Axyon AI & C8 Technologies Partner to Deliver Axyon Model Strategies via C8 Studio Platform

Axyon AI, the developer of AI-based solutions for asset managers, has formed a partnership with C8 Technologies, the asset management platform provider, to make a wide selection of Axyon AI’s model strategies available via C8 Studio.

The partnership aims to provide a practical way for asset owners, wealth managers and family offices to add AI-driven performance to their investment portfolios, by accessing Axyon AI’s data and indexes directly within the C8 Studio platform.

Crypto Options Exchange Deribit Selects Eventus for Trade Surveillance

Panama-based Deribit, the world’s largest cryptocurrency options exchange by volume and open interest, has selected Eventus, the trade surveillance and market risk solutions vendor, to provide market abuse monitoring on the exchange through the company’s Validus platform.

The exchange considered various trade surveillance solutions in anticipation of operating under the Virtual Assets Regulatory Authority in Dubai and selected Eventus’ Validus to maintain the highest compliance standards.

Liquidnet and BondAuction Collaborate to Offer Auction-Style Primary Debt Trading via OMS

Liquidnet, the agency execution specialist, has partnered with BondAuction, an auction platform for the Primary Debt Capital Markets, to provide access to BondAuction’s offering from within clients’ Order Management Systems (OMSs).

Building on Liquidnet Primary Markets’ established OMS connectivity, institutional investors will have the ability to place bids via Liquidnet into the BondAuction platform directly from their OMS, and receive allotments back.