S&P Global Expands Collaboration with Microsoft to Integrate AI Data into Microsoft 365 Copilot

S&P Global has announced an expanded collaboration with Microsoft to integrate its AI-ready data, analytics, and insights directly into Microsoft 365 Copilot workflows and agentic tools. Powered by the S&P Global AI Data Portal’s Deterministic Retrieval solution – also known as the Kensho LLM-ready API – the system enables users to access verifiable and cited content within their standard Microsoft productivity applications.

Building upon an existing integration of S&P Global Energy data, this expanded capability includes a Copilot in Excel connector for financial modelling and reporting, alongside a plugin for agentic experiences in Copilot Cowork. Users can perform company research, financial analysis, peer benchmarking, competitive analysis, and transcript intelligence without leaving Microsoft 365, streamlining multi-step analytical processes and reducing manual data preparation while maintaining source attribution.

The update follows the recent evolution of S&P Global’s Market Intelligence operating model and the creation of its Kensho Data Platforms vertical. These structural changes combine data, AI, and software capabilities to deliver AI-native user interfaces that make proprietary intelligence easier to connect, access, and act upon.

Buy-Side Firms Seek FX and Listed Derivatives EMS Consolidation for Real-Time Risk View

Demand is growing among buy-side market participants to consolidate foreign exchange (FX) execution management systems (EMS) with listed derivatives workflows. According to a survey by Acuiti on behalf of Trading Technologies, conducted across 65 hedge funds, proprietary trading firms, and asset managers, achieving a unified, real-time view of risk is the primary motivation for integrating these platforms.

Historically, FX execution has operated on distinct infrastructure due to the fragmented nature of over-the-counter liquidity. Consequently, 69% of surveyed firms currently run separate management systems for FX and listed derivatives. However, rising operational complexity and cross-asset desk management are driving appetite for unified workflows. Participants prioritised non-cost advantages, with 69% targeting real-time risk visibility, 52% seeking enhanced execution quality, and 46% desiring expanded algorithmic capabilities.

Despite the clear benefits of combining position views and order routing, adoption is tempered by operational concerns. Migration risk remains the single largest barrier, cited by nearly half of respondents as the main reason for delaying system consolidation.

Exegy to Distribute EuroCTP’s Real-Time Shares and ETF Feed

Exegy will distribute EuroCTP’s real-time multicast FIX SBE feed, the EU’s first real-time pre- and post-trade Consolidated Tape for shares and ETFs, when it goes live on September 14th. Building on a technology partnership established in 2024, Exegy will serve as a redistribution partner for the feed. This includes the European Best Bid and Offer (EBBO), which is calculated using Exegy’s market data technology platform.

The EuroCTP feed will be accessible via Exegy Ticker Plant (XTP) appliances and the Axiom consolidated market data feed. Incorporating EuroCTP adds consolidated trading activity from approximately 130 European trading venues and reporting platforms to Exegy’s broader platform, which already provides access to real-time market data from over 300 global venues.

The real-time feed will be available on Axiom immediately upon launch, allowing firms to stream market access and receive normalised European market data without incurring additional operational overhead.

Cboe Clear Europe to Expand Securities Financing Transactions Clearing to Fixed Income

Cboe Clear Europe, the pan-European clearing house operated by Cboe Global Markets, plans to expand its Securities Financing Transactions (SFT) clearing service to include fixed income instruments beginning 24 August. The service will cover EU, Swiss, and UK government and corporate bonds for all market participants, as well as US Treasuries and US corporate bonds for non-US entities.

Settlement will be processed via Euroclear Bank for European and Swiss instruments, CREST for UK assets, the Federal Reserve for US Treasuries, and the Depository Trust Company for US corporate bonds. Transitioning SFTs from bilateral agreements to a centrally cleared model aims to improve balance sheet efficiency and streamline post-trade operations, including client onboarding, reporting, and settlement.

This initiative follows the 2025 launch of SFT clearing for European cash equities and ETFs across 19 depositories. Adopted by principal lenders, agent lenders, and borrowers, the existing service averages over 1,000 daily settlements, with daily notional outstanding loan values reaching €9 billion.

Bloomberg Vault Adds AI Models for Insider Dealing and Personal Trading Surveillance

Bloomberg has expanded Bloomberg Vault with two artificial intelligence models designed to identify electronic communications that may point to insider dealing or breaches of employee personal trading policies. The additions extend the platform’s surveillance coverage to two risk areas that can require compliance teams to examine communications alongside trading and account activity.

The Insider Dealing AI Policy looks for communications that may indicate the improper acquisition, disclosure or use of material non-public information (MNPI). The Personal Trading AI Policy targets communications concerning employees’ trading activity and investment accounts, including possible failures to comply with firms’ internal personal trading requirements.

The models join Bloomberg Vault’s existing suite of AI-powered surveillance policies, which covers market conduct, non-market conduct and conflicts of interest. Bloomberg said the expanded suite is intended to help compliance teams identify potential risks within electronic communications and concentrate their reviews on more relevant alerts.

Each model has been built for a defined risk scenario and is supported by documentation explaining its construction, risk focus and intended behaviour. According to Bloomberg, large language models are applied following model inference to improve the relevance of alerts and reduce false positives.

The documentation is also intended to help firms assess how the models operate within their AI governance frameworks. This is particularly relevant where compliance teams must explain the basis for surveillance alerts and evaluate externally supplied AI systems before deploying them in regulated workflows.

“Bloomberg’s AI-powered surveillance models have substantially improved alert quality and reduced false positives,” said Jotham Banyikidde, Investment Compliance Senior Associate at Impax Asset Management. “This allows our team to focus on meaningful review and oversight. Just as importantly, the models are transparent and well documented, which supports our internal AI impact assessment and gives us confidence in how alerts are generated.”

The release follows Bloomberg’s introduction of BSpeech, its AI-powered, multilingual voice transcription service. Bloomberg said the combination extends Vault’s AI capabilities across electronic and voice communications, allowing firms to manage surveillance and communications governance across multiple channels through a single workflow.

TS Imagine Integrates Prediction Markets Data into Risk Platform

TS Imagine has integrated prediction markets data into its platform, enabling institutional clients to incorporate market-implied event probabilities directly into their existing risk management workflows. The new capability allows institutions to evaluate how portfolios might respond to major political, economic, regulatory, and geopolitical developments, by mapping specific event scenarios to exposures and sensitivities across multiple asset classes. These signals integrate into stress testing, scenario analysis, value-at-risk, and sensitivity workflows, updating automatically as market probabilities shift.

Prediction market contract prices reflect the estimated likelihood of defined future outcomes. Used alongside conventional risk data, these probabilities can potentially provide an additional signal for tracking central bank decisions, economic releases, elections, and regulatory changes.

STX Deploys Eventus Validus Platform for Regulated Exchange Trade Surveillance

STX, the US-based, CFTC-regulated event contracts exchange specializing in sports, cryptocurrency, and real-world events, has deployed the Eventus Validus platform to handle all trade surveillance for STX’s forthcoming regulated market.

The integration allows STX to monitor its platform for potential market manipulation. Validus covers a broad range of suspicious activities, including insider dealing, momentum ignition, price ramping, layering, spoofing, cross-product spoofing, cancel-after-fill activity, and large order or trade anomalies.

Eventus collaborated closely with STX throughout its regulatory engagement, supporting surveillance demonstrations for the exchange. As STX works towards recognition by the US Commodity Futures Trading Commission (CFTC) as a Designated Contract Market and Derivatives Clearing Organization under its XV Exchange and XV Clearing entities, robust trade surveillance will remain central to its platform.

FutureSports and NHL Announce Exclusive Deal to Launch Performance Index Futures

Independent index administrator FutureSports has entered into an exclusive agreement with the National Hockey League (NHL) to receive official, real-time statistics. FutureSports will use the play-by-play data to create rules-based benchmark indexes known as CME FutureSports Performance Indexes (FSPI), tailored to measure the cumulative performance of NHL teams and individual players. Subject to regulatory approval, CME Group plans to list monthly and quarterly cash-settled futures contracts based on these benchmarks in time for the 2026–2027 season.

The transparent, rules-based indexes will update continuously throughout games, establishing a new uncorrelated asset class for hedging and investment. Expected market participants include asset managers, pension funds, professional trading firms, and retail investors, alongside commercial entities seeking risk-management tools, such as apparel manufacturers, sponsors, endorsers, third-party vendors, and insurers.

To maintain market confidence, the indexes will be administered independently by FutureSports. While the NHL supplies the underlying statistical data and maintains monitoring controls alongside regulatory stakeholders to safeguard integrity, it will hold no involvement in the governance, calculation, or determination of the financial indexes.

AutoRek Acquires Fintech Grath to Expand AI Capabilities and Global Footprint

AutoRek has acquired Grath, the London-based reconciliation and regulatory compliance technology firm founded in 2019. The acquisition adds AI-driven automated reconciliation capabilities to AutoRek’s portfolio, serving banks, payment providers, brokers, and fintechs across international markets.

The combined organisation offers three flexible operating models within a single governed control framework. These include AutoRek’s core Enterprise Private Cloud platform featuring the AutoRek Intelligent Agent (ARIA), Grath’s Multi-Tenant SaaS platform for rapid deployment with FCA-aligned governance, and Grath’s embedded AI infrastructure product, Topa, which allows firms to integrate matching services directly into proprietary in-house systems.

This transaction furthers AutoRek’s global expansion by incorporating Grath’s client base in the US and UAE. The move follows AutoRek’s recent opening of a Miami office and senior sales appointments in the region.

Bloomberg Expands Electronic Trading for Australian-Listed ETFs

Bloomberg has expanded its electronic trading capabilities in Australian markets following a rule variation amendment by the Australian Securities and Investments Commission (ASIC). Eligible onshore participants can now electronically negotiate Australian-listed exchange-traded funds (ETFs), alongside options and futures, using Bloomberg’s Request-for-Quote (RFQe) workflow. The first transaction utilising this new workflow has already taken place.

The enhancement replaces manual execution methods (such as voice and messaging) with an electronic multi-dealer liquidity process. It allows domestic participants to access both local and offshore ETF markets via a single, auditable platform requiring minimal onboarding. Additionally, the system integrates into Bloomberg’s existing EMSX and AIM workflows to assist with investment, hedging, and portfolio management strategies.

This expansion complements Bloomberg’s broader ETF infrastructure in Australia, which includes its BSKT creation and redemption solution. Together, these tools cover the complete ETF lifecycle, from basket management to secondary market trading.