This Week: Bloomberg, Broadridge, Rimes, Glue42, and more

Bloomberg MIPD now available for Enterprise Data and Bloomberg Terminal clients

Bloomberg has announced its market-implied probability-of-default product, a market-driven creditworthiness indicator, is now available to both Enterprise Data and Bloomberg Terminal clients globally. MIPD aims to enable clients to easily incorporate creditworthiness metrics within their existing workflows for a more holistic approach to credit risk management.

MIPD offers clients a daily credit risk assessment that incorporates data from BVAL, Bloomberg’s evaluated pricing service, to proactively estimate fixed-income market sentiment and quickly react to changing market and issuer-level conditions. This solution helps anticipate credit deterioration such as major rating downgrades and defaults ahead of traditional credit analysis.

Broadridge and Snowflake unite to consolidate trading and portfolio data in the cloud

Broadridge Financial Solutions will work with Snowflake, a data cloud company, to enable clients to consolidate and analyze trading and portfolio data in the cloud.

Snowflake’s integrated data platform provides customers with data storage, processing, and analytics solutions in the cloud. Enhancing Broadridge’s trading and portfolio management solution with Snowflake technology will enable Broadridge clients to bring together data from Broadridge, client, and third-party systems into Snowflake’s Data Cloud for analysis and direct access and provide a complete picture of their data.This augments Broadridge’s existing data solutions that provide clients access to individualized self-service analytics, customizable digital reports, and interactive dashboards.

RBC Wealth Management US to enlist Broadridge wealth management platform

RBC Wealth Management and Broadridge Financial Solutions have announced that RBCWM will utilize the Broadridge wealth management platform to power its growing US business.

Broadridge’s wealth management platform is an open platform offering an integrated front-to-back-office solution. The platform enables wealth managers and their advisors to drive their business to the next level by creating a better client experience, improving advisor productivity, and digitizing the back office. As part of this multi-year agreement, RBCWM will also be migrating to Broadridge’s asset servicing platform.

The move, part of RBCWM’s multi-year technology transformation, represents the latest in a series of investments in third-party fintech tools and services. The firm has also integrated Salesforce and Addepar into the business to give advisors better client insights, performance reporting, and portfolio management tools.

Rimes launches ESG data management solution

Rimes has launched its ESG data management solution, powered by Rimes’ managed data services. Built to be a flexible product, it helps asset management firms quickly access high-quality data to evaluate the sustainable credentials of any asset for enterprise-wide use.

It is a fully managed, end-to-end cloud-based service that offers transparent and actionable ESG data through a vendor-agnostic library of ESG sources, extensive cross-referencing and harmonization across sources, mapping from issuer to issue, and a suite of desktop and analytics tools.

Glue42 releases Enterprise 3.12 with new functionality

Glue42, a desktop application interoperability vendor, has released new functionality to help firms bring an optimal trading experience and efficient operation in days rather than weeks. The new release, Glue42 Enterprise 3.12, focuses less on individual applications and extends the workspace concept with an enterprise store that allows users to search for business solutions.

With trading efficiency in mind, the new set of features enables the curation of an individual user experience accessible through a new launch pad. An upgraded global search engine capable of locating multi-app workflows, multi-screen layouts, business functions, and business data, provides traders with answers in form that can be actioned immediately. New server-side support enables firms’ development teams to configure trader-specific profiles that provide new levels of customization.

Enfusion chosen by Goldman Sachs Asset Management alternative investments

Goldman Sachs Asset Management’s Alternative Investments and Manager Selection (AIMS) co-investment business has selected Enfusion to provide investment management technology solutions and middle- and back-office managed services.

Enfusion has created a custom solution via API so that AIMS can import data across numerous instruments into the Enfusion platform from its proprietary EMS in real-time, providing a view of a fund for portfolio managers and the risk team. Enfusion’s platform and APIs allow the fund’s portfolio managers to manage orders across all asset classes.

In addition to creating a centralized repository of trade data and activity, the cloud-based solution will track portfolio positions to ensure transparency across the fund and facilitate P&L and risk monitoring, and reporting at the fund and holding levels.

To complement the integration of these solutions, Enfusion’s managed services team will manage reconciliation and trade capture, as well as investigate breaks and make necessary adjustments. Outsourcing these efforts will allow the AIMS team to focus more on core trading activity.

Appital and LSEG’s Turquoise partner to build book-building technology for buy side

Appital, an equity capital markets platform, has announced its cooperation with Turquoise, the London Stock Exchange Group’s pan-European trading venue, to bring book-building technology to the buy side to unlock latent liquidity opportunities.

The Appital platform unlocks latent liquidity and drives a book-building process, providing deal originators with opportunities to execute large volumes, often in excess of five days of ADV, with minimal market impact or risk of price erosion. At the same time, the platform enables deal participants to highlight the types and sizes of opportunities they are looking for, specifying market, sector, market cap, and size of interest. 

The cooperation between Appital and Turquoise brings together complementary capabilities to the benefit of issuers and investors. Appital users are now able to execute all deals through the Turquoise MTF, via a single point of access and with straight-through-processing to more than 20 settlement venues.

Appital is actively building out its platform and technology infrastructure with buy-side firms and vendors for a launch later this year.

Astorg and Bridgepoint finalize acquisition of Irish fintech Fenergo 

Private equity firms Astorg and Bridgepoint have completed their acquisition of Fenergo, a provider of know-your-customer and client lifecycle management software solutions for financial institutions. The transaction was completed following approval by the European Commission.

Entering its third chapter of growth, Fenergo has reinforced its commitment to developing digital solutions that equip financial institutions with the tools to navigate the highly complex regulatory environment, fight financial crime, and transform client operations.

Fenergo will drive deeper market penetration and geographic footprint through the continued innovation of its Software-as-a-Service and on-premise platforms.