This Week: UBS/JPM/FlexTrade, Ice, QuantCube & more

UBS Asset Management and JP Morgan complete first trade on FlexFI

FlexTrade Systems has announced its first direct EU electronic execution between UBS Asset Management and JP Morgan. The transaction took place on the company’s fixed income EMS solution FlexFI.

JP Morgan will deliver differentiated electronic liquidity directly to UBS Asset Management via FlexFI, allowing UBS to source liquidity directly from their key liquidity providers with the aim of improving efficiency and best execution.

“Working on this initiative with FlexTrade and JP Morgan, we have produced a highly sophisticated, transparent way of simplifying and streamlining our workflows and interacting with the sell side,” said UBS Asset Management’s global head of trading and order generation, Lynn Challenger.

Ice adds One Exchange data to Canadian crude indexes and futures contracts

Intercontinental Exchange will add physical crude transaction data from One Exchange Corp to its 1a group of Canadian crude indexes in early 2023. Currently, these indexes are based on transaction data from Ice affiliate CalRock Brokers. Crude transaction data from One Exchange will also be included in the pricing for the Ice 1a indexes as of early 2023, increasing the dataset.

Ice’s Canadian crude indexes are the basis of its benchmark Canadian crude futures contracts, including Light Sweet Crude, Condensate C5, Clearbrook Bakken Sweet, and Western Canadian Select.

QuantCube Technology raises series B funding

Economic information provider QuantCube Technology has secured funding in a series B round led by Strategic Development Fund (SDF), the investment arm of the UAE’s Tawazun Council. Moody’s and Five Capital also contributed, along with other private investors.

QuantCube analyses alternative data points, aiming to pinpoint macro regime change and macroeconomic intelligence nowcasting (with variables such as economic growth, inflation, international trade, and employment).

QuantCube will open new offices in Abu Dhabi focused on research and development, as well as offices in Tokyo and New York dedicated to sales and operations.

CGS-CIMB switches on ADDX connection for high-net-worth clients

Securities brokerage CGS-CIMB Singapore has begun offering all individual accredited investors access to the private market exchange ADDX.

Products provided by the broker on ADDX include private equity, private credit, venture capital, hedge funds, and real estate, as well as fixed income and structured products.

Previously, CGS-CIMB was more focused on the public markets. It now aims to serve up to 10 wealth managers by the end of 2023.

Lseg to acquire Acadia

London Stock Exchange Group (Lseg) will acquire Acadia in a drive to expand its post-trade offering for uncleared derivatives. To read more about the exchange’s plans for Acadia, click here.