The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Fascet Partners with Hosting Vendor Rackspace to Support SaaS Offering

Share article

US-based enterprise data management (EDM) solution vendor Fascet has signed a partnership agreement with hosting specialist Rackspace to support its new software as a solution (SaaS) offering. Accordingly, the vendor has been enabled to offer its Fascet Trade Communicator, a post-trade notification solution that processes any asset type including complex OTC derivatives, in a SaaS delivery model.

Fascet began providing integration and STP solutions to the financial services community in 2002 and has since moved into the data management and data migration space. The recent partnership between the two vendors is focused on supporting Fascet’s SaaS offering, which aims to normalise and securely transmit transactions, positions and valuation data between parties in the financial transaction chain.

Brian Baskinger, managing director of Technology at Fascet, explains: “We spent 12 months reviewing many of the leading hosting providers prior to selecting Rackspace. The key factors in our decision were data centre security, quality of support, system availability, and industry track record.”

According to Baskinger, Trade Communicator was designed to meet the complex transaction requirements of banks, hedge funds, investment advisors and broker-dealers. Approximately 80 firms are now using the platform to notify counterparties of transaction details as well as to provide transparency. “In the past six months, we’ve successfully implemented more than 50 firms across five continents with 100% system availability. Our relationship with Rackspace was integral in allowing us to scale our SaaS offering,“ he continues.

SaaS offerings have become increasingly popular within the vendor community and the last couple of years have witnessed a significant increase in SaaS versions of various software offerings being launched on the market. Its popularity can be easily identified in these tight economic times, as firms seek to rapidly implement low cost solutions in targeted areas of the market.

Data management is one such space. Multi-year large scale projects are unlikely to get much funding when its hard to predict what the state of the market will be in six months’ time, after all. Hence the launch of solutions targeted at specific corners of the market and lower cost hosted solutions, such as Fascet’s SaaS offering.

Fascet has also signed a partnership agreement with outsourcing specialist Accusource to provide outsourced back office processing services focused on operational efficiency and data quality. Again, reflective of a trend within the vendor community to partner with other providers to extend market reach and benefit from others’ technology offerings.

Related content

WEBINAR

Recorded Webinar: Data as a Service: Realizing its Value for Data Management

Don’t miss this opportunity to view the recording of this recently held webinar. Faced with substantial and rapidly changing regulatory demands, trading firms are realizing the need for agility in the way they handle data. With global regulations like MiFID II and FRTB reshaping data requirements – and the prospect of future measures introducing yet...

BLOG

SimCorp Launches Buy-Side Managed Data Service

SimCorp, a provider of investment management solutions, has launched a new managed data service for the global buy-side in collaboration with Zurich Insurance Group and global buy-side institutions from its existing client community. Aiming to offer operational efficiency, data advisory and multi-asset class coverage in one data management solution, the managed service provides validated data...

EVENT

TradingTech Summit London

The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.

GUIDE

MiFID II handbook, third edition – How compliant are you?

Six months after Markets in Financial Instruments Directive II (MiFID II) went live, how compliant is your organisation? If you took a tactical approach to cross the compliance line on January 3, 2018, how are you reviewing and renewing systems to take a more strategic approach and what are the business benefits of doing so?...