This Week: Bloomberg, Isda, Wolters Kluwer, Refinitiv, Aquis, DTCC, and more

Bloomberg Announces Publication of Calculations Based on IBOR

Bloomberg Index Services Limited has begun calculating and publishing fallbacks that the International Swaps and Derivatives Association (Isda) intends to implement for key interbank offered rates (IBORs). Isda will soon publish amendments to its standard interest rate derivatives definitions to incorporate these new fallbacks, which are adjusted versions of various risk-free rates (RFRs).

Isda is implementing adjusted versions of the RFRs to serve as IBOR fallbacks based on feedback received from several market consultations regarding these differences. In July 2019, ISDA announced that Bloomberg had been selected to calculate and publish these adjusted RFRs as fallbacks following an in-depth selection process.

Wolters Kluwer Launches AI-Based Product for Compliance  

Wolters Kluwer Compliance Solutions has introduced OneSumX ProViso, an AI-based product to help financial institutions for compliance with legal obligations to US federal and state regulators.

OneSumX ProViso uses Wolters Kluwer’s regulatory change data feed—a legal library of state and federal citations and requirements­—and analyzes, groups and clusters relevant legal requirements across multiple jurisdictions. 

Aquis Exchange To Collaborate with University of Derby on Machine Learning

Aquis Exchange and the University of Derby are to collaborate on a research and development project based around machine learning, with the aim of enhancing the company’s ability to monitor trading behaviour and identify abuses within financial markets.

The partnership is backed by a £151,000 government grant delivered by Innovate UK, which enables businesses to use knowledge transfer partnerships to improve productivity and performance by providing the funding to take forward new ideas.

DTCC Grows Its MTU Community

The Depository Trust & Clearing Corporation (DTCC) announced that its Margin Transit Utility (MTU) community has grown to 50 firms representing thousands of Credit Support Annexes, with users including dealer and buy-side organizations around the world.

By automating the margin call process, MTU enables firms to validate, settle, report and monitor matched collateral calls globally while connecting to and sharing information with multiple counterparties.

DTCC’s MTU was created to improve settlement efficiency and reduce operational complexity and risk for collateral call processing. 

Refinitiv Introduces Sustainable Finance League Table

This week Refinitiv launched Sustainable Finance League Tables through its Deals Intelligence solution. The tables measure new capital raising driving sustainable outcomes and ranks the investment banks underwriting such activity.

The tables are available on Refinitiv Workspace and Eikon. They leverage Refinitiv’s global deal and market volume analysis covering over 3.3 million transactions announced in 225 nations since the 1970s and applies criteria across both use of proceeds and company operations to determine the total new capital being raised on financial markets, which is driving the sustainable economy.  

NICE Actimize Updates SURVEIL-X Holistic Trade

NICE Actimize has introduced an enhancement to its SURVEIL-X Holistic Trade Surveillance product that provides self-service analytics, called SURVEIL-X Studio.

The new additional allows financial services firms to create, test and deploy custom analytic risk detection models. Business analysts can use SURVEIL-X Studio can to create risk models by using its drag-and-drop interface, choosing from an expansive library of customizable templates or building their own rules from scratch.

The new addition also features built-in integrations to data services and common business functions and calculations, including currency conversions and market trends.

Xignite Partners With SIX for Market Data in Cloud

Xignite and SIX have entered into a strategic partnership to offer real-time data from the catalog of SIX, which includes over 1,800 global exchanges and trading venues via Xignite Enterprise Microservices, a suite of cloud-native market data management services.

Xignite’s cloud-native solution currently serves more than 12 billion API calls per day to 750 clients around the world. Xignite recently introduced Xignite Enterprise Microservices, a suite of vendor-agnostic services large firms can deploy to migrate their market data infrastructure and any of their existing data sources to the cloud.

Cassini Systems Partners With IHS Markit

Cassini Systems and IHS Markit have entered into a partnership to automate the calculation of margin estimates within thinkFolio.  The collaboration will provide advanced pre-trade analytics for over-the-counter and exchange-traded derivatives directly within thinkFolio from IHS Markit, the multi-asset class investment management platform. 

Portfolio managers using thinkFolio will be able to access the Cassini platform to calculate and choose the most cost-effective option while dealers are able to view the overall cost and risk when executing trades.

Standard Chartered Invests in Cobalt

The foreign exchange (FX) post-trade infrastructure provider Cobalt, has announced investment from Standard Chartered as its latest backer. The bank signed as a client on Cobalt’s post-trade FX platform in February this year.