This Week: Bloomberg/HSBC, Refinitiv/Microsoft, IBM, Jump Trading, & more

HSBC and Bloomberg collaborate to offer post-trade workflow

HSBC and Bloomberg are collaborating on a post-trade workflow through product and data integrations, which intend to deliver a more streamlined front-to-back user experience for mutual clients. This integration brings together Bloomberg AIM, an investment and order management system, with HSBC’s middle-office technology to help support efficient real-time trade management processes, including matching and settlement. The offering is now live and available to Bloomberg clients who outsource their middle-office operations to HSBC.

These capabilities are the first of a series of ongoing integrations between Bloomberg Buy-Side Solutions and HSBC.

Refinitiv expands collaboration with Microsoft to launch AI assistant 

Refinitiv has announced the launch of Refinitiv AI Alerts, a market data-powered intelligent assistant in Microsoft Teams. Refinitiv AI Alerts intends to provide market insights for financial professionals, in collaboration with ModuleQ.

User-specific content suggestions and alerts driven by ModuleQ’s algorithms and Refinitiv Intelligent Tagging are linked to Refinitiv Eikon and Workspace for more analysis. The alert system learns the user’s individual priorities from their Microsoft 365 interactions, and recommends suggested content based on upcoming meetings and frequent email conversations.

Refinitiv AI Alerts is the latest solution to be launched as part of the organization’s collaboration with Microsoft, which was announced in 2020.

Jump Trading joins Tradeweb’s European government bond marketplace

Tradeweb Markets has announced that Jump Trading has joined its European Government Bond marketplace in hopes to provide bank participants with streaming liquidity via the new Tradeweb EUGV STAQ API. Jump, a trading firm, already uses the functionality to stream its actionable prices for US Treasuries on Tradeweb. The new EUGV STAQ API aims to allow traders to efficiently execute on these price streams on a name-disclosed basis in a single centralized location. They can either trade the price levels during an RFQ (request-for-quote) negotiation manually or build it into an automated trading workflow via Tradeweb’s AiEX (Automated Intelligent Execution) tool.

Charles River and LedgerEdge collaborate on trading services

Charles River Development is collaborating with LedgerEdge to provide investment firms with access to corporate bond liquidity from the LedgerEdge ecosystem via the Charles River Inventory Hub and Order and Execution Management System (OEMS).

LedgerEdge leverages distributed ledger technology for trading services and protocols in the $41 trillion global corporate bond market. Charles River’s Inventory Hub delivers an aggregated, venue- and dealer-agnostic view of liquidity that helps firms reduce execution costs and facilitate price discovery. 

Transcend launches solution for ESG collateral management

Transcend has announced the ability to integrate ESG criteria into collateral decisions and analytics to integrate ESG data into collateral management processes.

Transcend’s ESG capabilities aim to allow clients to centrally store ESG criteria alongside ESG performance metrics and collateral schedules for inventory management, and systematically run intraday or ad hoc validation and sufficiency testing to assess whether collateral received is in line with client or internal ESG requirements. 

Danske Bank partners with SunTec SaaS 

SunTec Business Solutions has announced that is collaborating with Danske Bank to implement its enterprise-wide Fee Management Program. SunTec will deploy its cloud-agnostic solution, Xelerate, in a Software-as-a-Service model to modernize the bank’s fee and billing management processes.

SunTec Xelerate aims to help Danske Bank with accessing products and pricing via APIs, and to ensure faster time-to-market and provide flexible bundling options. 

Etrading Software expands platform technology business partnerships

Etrading Software is expanding its platform technology business with partnerships for developing new products and entering new sectors. To accompany this move, the company is making a number of appointments to grow the senior management team, including James Haskell as new chief operations officer and David Lane as new chief technology officer, both of whom are joining the company’s board.

Etrading Software strives to develop its core business of providing technology solutions and management services for new capital markets infrastructure platforms, to assist market participants and public authorities in the implementation of new global regulatory etraand data standards such as the Unique Product Identifier (UPI) and ISO’s new digital asset standard, the Digital Token Identifier (DTI). 

Gleif publishes ecosystem governance framework

The Global Legal Entity Identifier Foundation (Gleif) has published its verifiable LEI (vLEI) Ecosystem Governance Framework

The vLEI Ecosystem Governance Framework, which has been designed to complement Gleif’s existing LEI governance, defines the vLEI operational model and describes how the new ecosystem’s range of vLEI issuing stakeholders will qualify for and perform their roles in the Global LEI System.

The Framework has been created in accordance with standards and recommendations of the Trust Over IP Foundation (ToIP), hosted by the Linux Foundation. The framework aims to provide essential detail on the governance structures and processes that will shape the development of the vLEI issuance ecosystem together with the services that GLEIF will provide, including the vLEI Issuer Qualification Program, essential key and credential management services, and a communications platform for information sharing between GLEIF and its network of vLEI issuers.

By wrapping new and existing LEIs in Verifiable Credentials, the vLEI intends to offer a digitally trustworthy version of the LEI, allowing automated verification of legal entities and their authorized representatives, without the need for human intervention. The vLEI aims to leverage the Global LEI System, which offers a standardized, and regulatory-endorsed system for legal entity identification.

Aquis Technologies partners with Investre

Aquis Technologies has announced a partnership with neo-exchange for value-driven investment funds, Investre. Investre is building an exchange that aims to allow retail customers to buy and sell values-driven investment funds direct from the asset manager on the primary market, or by trading with other users through an auction process on the secondary market.

Aquis is providing the technology to power the secondary market by supplying a fully outsourced technology model to Investre consisting of its Aquis Matching Engine, its Aquis Market Surveillance product, as well as operational support to the business. The duration of the contract will be three years.

Avelacom deploys new point-of-presence at Bursa Malaysia

Avelacom has announced the deployment of its point-of-presence (PoP) at Bursa Malaysia in a bid to extend its network footprint into Malaysian capital markets. With its new PoP at Bursa Malaysia, Avelacom intends to scale up its presence in Asia. 2021 saw record derivative volumes traded on Bursa Malaysia with 18.4 million contracts traded in 2021, building on the previous figure of 18.2 million contracts traded in 2020.

Accern and LPA team up

Accern has announced a new partnership with LPA, the software and consulting firm focused on technology for the capital markets. The partnership intends to drive additional growth for both firms by combining LPA’s capital markets network with Accern’s platform, driving the adoption of AI-powered investment research among clients in North America, Europe, and Asia. LPA strives to provide technical innovations and consulting services that optimize workflows and ensure regulatory compliance for the capital markets industry.

Volante Technologies and FIMBank extend cloud payments collaboration

Volante Technologies has announced that FIMBank, a provider of trade finance, factoring and forfaiting solutions, will extend their relationship with Volante by deploying additional payment rails and components from the Volante Payments as a Service (PaaS) cloud-native payments processing platform. The collaboration began in 2018 when FIMBank selected Volante’s service, running in the cloud on Microsoft Azure, to process inbound and outbound SEPA payments for the bank’s corporate customers.

BidFX connects to OSTTRA to streamline OTC FX client clearing

BidFX is introducing support for FX clearing to investment managers via OSTTRA’s clearing connectivity service. Integration with OSTTRA’s clearing connectivity solution aims to provide BidFX clients with the ability to submit trades directly to leading CCPs. Participants trading on BidFX could benefit from having their FX NDF trades submitted directly for clearing, at multiple CCPs, without the need to build out direct clearing connectivity.

OptionMetrics announces new options implied methodology

OptionMetrics is announcing its new options implied methodology, which intends to offer even greater accuracy in options calculations in the U.S., Europe, Asia Pacific. OptionMetrics replaces the zero curve (used by other providers) with its implied yield curve, constructed with a term structure of overnight rates and implied risk-free rates from options on major indices. In leveraging data from index options, OptionMetrics hopes to more accurately reflect costs of borrowing and lending in options markets. The methodology aims to reduce implied volatility spreads and strives to offer true volatility and Greek calculations compared to leveraging private bank lending rates or other measures that may include credit risk or unrealistic borrowing assumptions.

Adaptive acquires Real Logic

Adaptive Financial Consulting has announced the acquisition of Real Logic, a low-latency trading technology development firm. Real Logic delivers front-office solutions, including Aeron, its open-source messaging system focused on trading systems, and Aeron Cluster, a technology that provides fault tolerance through consensus.

SETL and Digital Asset partner 

London-based SETL and New York-based Digital Asset have partnered to create a new protocol that could be used by regulated institutions to launch interoperable tokens.

The new protocol, modeled on the Regulated Liability Network (RLN) initiative first proposed by Citibank’s Tony McLaughlin, is set to be developed and operated as a part of that global RLN, and enable banks, central banks, and other regulated institutions to create tokens for their customers. Each token will represent a promise from the issuer to the holder of the token. Transferring tokens between banks will be handled by the network which will mint, burn and transfer tokens in a coordinated single operation to achieve real-time settlement between the customers of any regulated institution.

SteelEye gets SOC 2 certified

SteelEye has achieved System and Organization Controls (SOC) 2 compliance.

The external accreditation demonstrates SteelEye’s commitment to data security, a move the company believes will strengthen its growth prospects in North America.