Exchange Data International Extends Provision of Corporate Actions Data

Exchange Data International (EDI), a provider of global security corporate actions, pricing, and reference data services, has introduced UK FundsCAB Service to further extend its investment funds coverage. The service covers over 13,700 share class funds from 200 fund management companies to provide comprehensive corporate actions data. Users can access corporate actions as soon as they enter EDI’s corporate actions web-based system. EDI also publishes daily fund distributions on the UK FundsCAB service.

UBS and Asian Bank Pioneer Cross-Border Intraday Repo Trade on Broadridge’s Blockchain Platform

UBS and a global Asian bank have successfully executed the first cross-border intraday repo transaction on Broadridge Financial Solutions’ blockchain-enabled Distributed Ledger Repo (DLR) platform. This milestone marks the launch of the next phase in the rollout of Broadridge’s DLR platform, a significant step towards a more efficient means of intraday liquidity management, building on the initial success of the platform and its growing expansion across the global repo community.

The DLR platform allows market participants to agree, execute, and settle repo transactions with flexible settlement cycles based on counterparties’ needs. By increasing settlement velocity and collateral mobility, the platform enables intraday transactions and reduces the operating cost and risk associated with all repo activity, including overnight and term repos.

Northern Trust’s Integrated Trading Solutions Experiences Rapid Growth

Northern Trust Capital Markets has experienced rapid growth in its Integrated Trading Solutions business, more than doubling over the past three years and adding 22 new clients in 2022 alone. The platform is being increasingly chosen by asset managers for their outsourced trading needs, with over 90 clients across the globe, including the US, UK, Netherlands, Switzerland, Australia, New Zealand, and Asia.

The Integrated Trading Solutions platform provides global trading expertise in equities, fixed income, exchange traded derivatives, futures, and exchange traded funds (ETFs) across global markets. It offers multiple trading locations, access to high-quality liquidity, and fully integrated middle and back-office services, enabling asset owners and managers to lower costs, reduce risk, manage regulatory compliance, and enhance transparency and operational efficiency.

BMLL Broadens Level 3 Data Coverage of Asia Exchanges

BMLL, the independent provider of harmonized, historical Level 3 data and analytics, has announced the expansion of its equities and ETF data coverage to include Asia Exchanges, offering users a comprehensive global view of market behaviour based on the most granular Level 3 data. The addition of CBOE Japan, Japannext, and Singapore Exchange data complements BMLL’s existing Tokyo Stock Exchange coverage.

The expansion aims to benefit BMLL’s diverse user base by providing access to the most granular Level 3, T+1 order book data and advanced pre- and post-trade analytics on a global scale, including buy-side firms seeking alpha in Asian markets, sell-side execution firms aiming to enhance product offerings, and Asia exchanges looking to perform venue comparisons against local and global peers to better understand market quality and the performance of liquidity providers.

UK Opens Talks on Regulating ESG Ratings Providers

The UK has taken a step further along its programme of market sustainability reforms. In the Treasury’s latest update to its Green Finance Strategy, which was launched in 2019, ministers presented a consultation paper that proposes bringing ESG ratings providers under the gaze of the Financial Conduct Authority (FCA).

Further announcements indicated that nuclear power would be included in a future ESG taxonomy and that the Taskforce for Nature-related Financial Disclosure (TNFD) framework would be considered for inclusion in any reporting rule.

The FCA said also that it would delay until the autumn it response to a consultation into the UK’s proposed Sustainability Disclosures Requirements (SDR). The rule had been expected to come into force in June.

Bloomberg Launches New SFDR Tool for Asset Managers

Bloomberg’s fund manager clients can access a new tool enabling them to identify assets aligned with the European Union’s Sustainable Finance Disclosure Regulation (SFDR). The dashboard-based offering is available through Bloomberg’s Terminal.

Horizon Software Certified on Montreal Exchange

Electronic trading solutions and algorithmic technology provider Horizon Software has announced that it is now certified on the Montreal Exchange (MX). With the certification, Horizon’s clients can now trade exchange traded derivatives, including equity derivatives, currency options, index derivatives, and interest rate derivatives.

Horizon is also now able to provide connectivity to financial institutions that want to trade on MX, for committed orders and pre-arranged trade workflows, orders for implied-based strategies, basis trades on close instruments, and stop orders.

QuantCube Launches Core CPI Nowcast Indicator for the US Economy

QuantCube, the alternative data analytics vendor, has launched the QuantCube Core CPI Nowcast indicator, designed to provide crucial insights into core inflation trends in the US economy, significantly ahead of official numbers published monthly. The indicator quantifies core inflation by measuring changes in the prices of goods and services, excluding the food and energy components included in the broader Consumer Price Index, which are generally more volatile.

The QuantCube team applied a fundamental approach to construct the new core CPI indicator – collecting and analysing high volumes of frequently-published alternative data on the prices of goods and services.

Snowflake Sets Up in Indonesia

Snowflake has extended its reach to Indonesia, bringing the Data Cloud to customers and partners in the country. The company expects its services to be available in the AWS Asia Pacific (Jakarta) Region in April 2023, enabling customers and partners to accelerate migration to the Data Cloud.

Linedata Opens Office in Singapore

Linedata, a global provider of credit and asset management technology, data and services, has opened a new office in Singapore, strengthening its presence in the APAC region following an increase in client need. The company already has presence in Hong Kong and India, with its expansion to Singapore a priority in its development strategy. Linedata plans to recruit new talent and skills for the Singaporean office to support existing and new clients, and says its technological solutions are well suited to the Singaporean financial market and can support local investment fund structures, such as the Variable Capital Company.