This Week: BNY Mellon, ASX, DTCC, SteelEye/UnaVista & More

BNY Mellon Launches New Data and Analytics Tools, Expands Azure Relationship

Bank of New York Mellon (BNY Mellon) launched three new data and analytics offerings and expanded its relationship with Microsoft Azure to create more data, technology, and content solutions for investment managers on the cloud platform.

The three new solutions are: Data Vault, a cloud-based data and analytics platform that supports the rapid onboarding of data to provide greater flexibility and accelerate client innovation and discovery; Distribution Analytics, which takes advantage of machine learning to help asset managers better understand predictive market demand drivers and sales momentum for US mutual funds and ETFs so they can gauge how to successfully gain market share; and ESG Data Analytics, which uses artificial intelligence to customize investment portfolios to individual ESG preferences with support from crowdsourced ESG data and demonstrability screens.

The data tools are part of the BNY Mellon Data and Analytics Solutions business, a recently created cloud-based software and content offering that combines the established expertise and resources of the Eagle product suite, Intermediary Analytics and other BNY Mellon technology and data assets. It features an ecosystem of proprietary and third-party business applications geared to help investment managers more efficiently manage and leverage their data so they can serve their clients more effectively and make better decisions in the front, middle, and back offices.

SteelEye and UnaVista Partner Following CME’s Reg Reporting Exit

To support market participants migrating from CME following the announcement that the exchange would shutter its regulatory reporting businesses, SteelEye has integrated with UnaVista’s European Trade Repository (TR) for EMIR reporting. SteelEye had already been a technical router into UnaVista’s Approved Reporting Mechanism (ARM) for Markets in Financial Instruments Reporting (Mifir) since 2017.

SteelEye and UnaVista have also developed a data convertor, meaning that firms can continue to use their existing reporting input files. In addition, since Mifir and Emir reporting is fully integrated, the same data can be used for both reporting requirements.

DTCC Exception Manager Partners with Custodians, Releases New Data Feed

The Depository Trust & Clearing Corporation (DTCC) announced that its Exception Manager global custodian community has grown to 11 members, including BNY Mellon, Brown Brothers Harriman, Caceis, CIBC Mellon, Citi, HSBC, JP Morgan, Northern Trust, RBC Investor and Treasury Services, and State Street.

The custodians directly submit exception data to Exception Manager so that underlying clients are able to quickly resolve settlement exceptions. The integrated platform of custodian, broker, and depository data allows buy-side clients to manage exceptions in a single place versus multiple files, interfaces and portals.

DTCC also introduced a new proprietary data feed into the Exception Manager platform that integrates DTCC TradeSuite ID affirmed confirm data, and the associated Depository Trust Company’s Inventory Management System settlement status data. Exception Manager users will be able to identify any settlement exceptions with these trades occurring at DTC.

QuantHouse Incorporates TSL Machine Learning Capabilities into QuantFactory

QuantHouse, the Iress-owned provider of end-to-end systematic trading solutions, announced that Trading System Lab (TSL) has added its machine-learning (ML) capabilities to the QuantFactory cloud backtesting suite.

Machine-learning outputs from TSL are integrated into the QuantDeveloper module of QuantFactory, in which the backtesting suite provides an environment where clients can develop, backtest, adjust, and implement quantitative trading strategies that can later be executed in a live trading environment.

Advantages to clients include increasing the scope of trading strategies available, increasing the number of markets an individual can monitor and respond to, and incorporating a wider range of data sources. TSL’s machine learning automates the design and development of trading strategies. This enables TSL to design thousands of strategies per second and per instance, reduces time to market, and is interoperable with all data, markets, frequency, and programming languages.

Cloud9 Partners with OpenFin for Institutional Voice Trading

Cloud9 Technologies, a specialist in cloud-based communications, has partnered with desktop interop vendor OpenFin to streamline the deployment of Cloud9’s voice trading APIs for institutional traders and accelerate the growth of “virtual trading desks” throughout the ongoing pandemic and beyond.

The partnership allows customers to connect to Cloud9’s voice collaboration platform. Internal and third-party applications in the OpenFin ecosystem can tap into Cloud9’s voice metadata via APIs exposed on the OpenFin message bus.

ASX Consults on Revised CHESS Replacement Timeline

The Australian Securities Exchange (ASX) commenced a consultation on a revised launch date for the replacement of its Clearing House Electronic Subregister System (CHESS). The new go-live date is schedule for April 2022, a 12-month delay from the original target and which is subject to user feedback. The exchange cites the ongoing Covid-19 pandemic as the basis for the decision.

In March, as the outbreak unfurled, ASX gave notice that the timetable was under review, but waited until June to formally begin the consultation process, allowing CHESS users to focus on their day-to-day operational activities. Since then, the exchange says, significant progress has still been made.

The CHESS replacement application and the distributed ledger have been successfully deployed to several ASX technology environments across multiple data centers, while a seventh software drop has been deployed on schedule into the customer development environment (CDE), which represents 89% of the core clearing and settlement functionality used by customers. Thirty-four organizations have connected to the CDE, including software providers, brokers and share registries.

The opening of the industry test environment, initially for back office software providers, is being prepared for commencement in December 2020.

Cognitive Credit and IHS Markit Collaborate on Global Credit Data Services

Cognitive Credit, a UK-based credit analytics software company, has added IHS Market credit data the Cognitive Credit application.

Cognitive Credit currently provides institutional investors with real-time updated fundamental data and financial models generated by its proprietary data extraction technology, along with a suite of data analytics designed for credit investors. IHS Markit is contributing its pricing and reference data across the entire US and European high yield bond and loan universe.