A-Team Insight Brief
Instinet Joins as First Executing Broker on Appital Bookbuilding Platform
Instinet has collaborated with Appital to create a channel for buy-side firms to gain greater exposure to European deal flow and block trading opportunities. Instinet will be the first executing broker to work with the Appital Bookbuilding platform. Through the partnership, any deal flow that is formed and negotiated on the Appital platform can be executed via Instinet. The platform unlocks latent liquidity and drives a bookbuilding process providing deal originators with opportunities to execute large volumes with minimal market impact or risk of price erosion. Deal participants can set their own preferences to ensure they are only exposed and alerted to relevant liquidity. The platform is scheduled for launch in Europe in 2022, and is currently going through a formal onboarding process.
OpenGamma Secures $21 Million Funding Led by Allianz X
London-based OpenGamma has secured a total investment of $21 million in its latest funding round, led by Allianz X with participation from existing investors. OpenGamma will use the funding to expand its offering, including the launch of automated workflow solutions for treasury management for asset managers and other financial institutions. OpenGamma helps firms optimise the capital efficiency of their portfolios, particularly when it comes to posting collateral in derivative transactions. The company specialises in margin analytics and has developed coverage for a large inventory of derivatives products.
Happy 30th Anniversary ANNA
The Association of National Numbering Agencies (ANNA) celebrates its 30th anniversary this week. The association was founded on 29 January 1992 by 22 National Numbering Agencies (NNAs) following publication of the International Securities Identification Number (ISIN) standard ISO 6166 on the 1 November 1981, a standard driven by industry need to improve cross-border trading. ANNA now has 119 members and partners globally allocating ISINs for more than 200 jurisdictions. Its mission is to foster standardisation in the financial industry by upholding and promoting ISO’s principles for adoption, development and maintenance of the ISIN to identify, FISN to describe, and CFI to classify financial and referential instruments.
Origin Connects to Clearstream API to Launch Instant-ISIN 2.0 for Eurobonds
Debt and capital markets fintech Origin has launched a new version of instant code allocation utility Instant-ISIN 2.0, which now offers both allocation and activation of ISINs for Eurobond issuance, while also providing CFI and FISN codes automatically. The new feature, which will be made available to Origin Dealer customers, will return an ISIN instantly upon request, while simultaneously communicating the transaction terms and details to other infrastructure providers within the Eurobond market. Instant-ISIN 2.0 is driven by connecting into Clearstream’s Primary Issuance API, which was developed using the latest version of the open source data standard Airbrush v3, designed and launched by Origin in 2021.
EDM Council Highlights Challenges to ESG Data Delivery
Data management industry group the EDM Council has outlined proposals it says will make delivering ESG data easier for rating providers and data aggregators (RPDAs). In the New York-based council’s second report into managing ESG data it said that RPDAs were experiencing specific challenges with ESG data that were not present in their other activities. In the report, the EDM Council identifies 11 challenges that need to be overcome, including a lack of harmonisation in reporting standards and gaps in the data record.
More Firms Submit Data for Bloomberg Gender Equality Index
A record number of companies offered data on gender equality for a key reference index, data giant Bloomberg said. The New York-based company’s Gender-Equality Index (GEI) now features 418 companies with a total market capitalisation of US$16 trillion. Constituents must file their data according to a GEI Framework, which scores companies on female leadership roles, equal pay, inclusivity, anti-sexual harassment policies and pro-women brands, Bloomberg said.
Arabesque Deal Seeks to Bring Sustainability to Property Sector
ABG Real Estate Group has bought a minority stake in data vendor and asset manager Arabesque as part of a strategy to create ESG solutions for the property market. Together the companies hope to introduce ESG measures and benchmarks for the construction and real estate sectors. Building firm Goldbeck has also invested into the partnership. By establishing criteria for sustainable projects, Germany-based ABG hopes to launch sector-based ESG funds, the company said.
Macrobond Achieves Record Sales Following Introduction of New Collaboration Tools
Macrobond, a provider of global economic, aggregate financial and sector data, increased sales by a record 62% in 2021, with average recurring revenue growth of 22%. The company attributes its growth to the introduction of new collaboration tools that support the needs of remote teams needing to work more effectively together. In 2021, Macrobond onboarded 120 organisations globally – including some of the world’s largest banks, asset managers and owners, research houses and government institutions – with Asia Pacific and the US seeing significant growth.
Eventus Wins First Canadian Deal with Bitbuy Implementation
Bitbuy Technologies – the first Canadian cryptocurrency trading platform to be regulated as a marketplace – has implemented Eventus Systems’ Validus platform to meet all of its trade surveillance needs. With more than 375,000 users and $4.4 billion transacted through its platform, Bitbuy is also the first organization that is both a registered digital asset marketplace and a restricted dealer for Canadians to invest in cryptocurrency assets. Its compliance department is using Validus to help ensure its market operates with integrity, monitoring client trading behaviour and identifying any potentially problematic activity that requires further investigation. The deal is Eventus’ first in Canada.
Kneip and Fondsdepot Bank Partner to Increase Data Accuracy of Fund Data
Kneip, a provider of fund data management, regulatory reporting and distribution support, and Fondsdepot Bank, a platform for trading and custody of funds in Germany, have partnered to increase data accuracy in the German fund distribution process by using Kneip’s Data Collection Service to power the bank’s Digital Frontend Tool. The data collection service simplifies collection of fund data and documents from source, and ensures data quality. Launching the service in Germany, Kneip will collect data and documents for Fondsdepot Bank’s front-end tool, which provides fund distributors and advisors with digital access to all required information during the advisory and distribution process. The partnership aims to increase the accuracy and reliability of fund data used for the distribution of funds in Germany.