This Week: CME/IHS Markit, Bloomberg, OpenExchange, Equinix, and more

CME, IHS Markit launch OSTTRA joint venture

Derivatives exchange CME Group and data and analytics vendor IHS Markit have launched a joint venture, OSTTRA, a new post-trade services company.

OSTTRA, owned equally by CME Group and IHS Markit, is a provider of post-trade solutions for the global over-the-counter markets across interest rate, FX, equity, and credit asset classes. It incorporates CME Group’s optimization businesses⁠—Traiana, TriOptima, and Reset⁠—and IHS Markit’s MarkitSERV. Headquartered in London, OSTTRA will be led by co-chief executive officers Guy Rowcliffe and John Stewart.

Rowcliffe will serve as co-chief executive officer and chief commercial officer, with oversight for leading the company’s full product portfolio and sales teams. Most recently, Rowcliffe was global head of optimization services at CME Group and head of TriOptima and Reset.

Stewart will serve as co-chief executive officer and chief operating officer responsible for leading business strategy, operations and technology, and corporate services and finance.

Bloomberg completes fixed-income indices rebrand

Bloomberg has announced that the Bloomberg Barclays fixed income benchmark indices have been rebranded as the “Bloomberg Fixed Income Indices.” This rebrand marks the end of the five-year transition period following Bloomberg’s acquisition of Barclays Risk Analytics and Index Solutions in August 2016.

The benchmarks include the US, Euro, Asia-Pacific, Global Aggregate, US Municipals, High-Yield, Emerging Market, Inflation, and Convertible indices, as well as all bespoke and customized fixed-income indices. This also includes the Bloomberg Barclays MSCI Indices, which are now known as the Bloomberg MSCI ESG Fixed Income Indices.

Over the past five years, Bloomberg has expanded its indices business, launching products for new asset classes such as multi-asset, ESG, and crypto to adapt to client needs.

OpenExchange to acquire Nucleus195

OpenExchange, a provider in virtual solutions for financial communications, has agreed to acquire Nucleus195, whose online platform represents a marketplace for independent investment research and market intelligence.  Nucleus195’s global network of over 150 independent research houses, broker-dealers, and research boutiques will now have a new way to be discovered via OpenExchange.tv, a recently launched online video destination providing access to investment insight for professional and active investors.

Equinix opens fifth IBX data center in Singapore, furthers push for sustainable infrastructure 

Equinix, a global colocation data center company, has announced the opening of its fifth International Business Exchange data center in Singapore. With an initial investment of $144 million, the purpose-built facility helps address the need for a sustainable digital infrastructure to enhance enterprises’ digital resiliency.

Singapore’s Smart Nation initiative and digitalization efforts over the years have led local and regional businesses to realize the importance of an agile and resilient digital infrastructure to their business success. According to the latest Equinix Global Tech Trends Survey, 88% of surveyed companies in Singapore indicated that digitizing their IT infrastructure was a top priority, with 66% believing interconnection will help them navigate challenges.

Quantitative Brokers launches suite of trade execution algorithms on HKEX

Quantitative Brokers, a provider of advanced execution algorithms and data-driven analytics for global futures and options markets, has launched its suite of trade execution algorithms on Hong Kong Exchanges and Clearing (HKEX).

QB’s algorithms are engineered to incorporate market microstructure features and quantitative research to achieve best execution when buying or selling futures contracts. Effective immediately, QB’s Algo Suite for futures market trade execution will be co-located at HKEX to initially support derivatives on indexes that track the largest companies of the Hong Kong stock market, including Hang Seng Index, Hang Seng China Enterprise Index, Mini Hang Seng Index and Mini Hang Seng Enterprise Index.

Additional HKEX futures markets applications for QB’s algos are expected to be added.

Calypso Technology, Axiom SL merger rebrands as Adenza

Following the merger of Calypso Technology and AxiomSL in July, the combined company has announced it will operate under the new name of Adenza.

The new name is a combination of the words “add” and “cadenza.” “Add” embodies the mathematical and analytical skills associated with both Calypso and AxiomSL, while “cadenza” signifies innovating, building market-leading products, and delivering value to customers.

Adenza offers fully-integrated solutions which can be delivered on-premise or in the cloud. The breadth of Adenza’s offering allows customers across the banking, capital markets, treasury, enterprise risk, regulatory reporting and compliance verticals to streamline end-to-end workflows and achieve greater operational efficiencies.

Adenza is dual-headquartered in London and New York City with nearly 2,000 employees and more than 60,000 users.

TraditionDATA adds enhancements to Bloomberg Capital Markets Package

TraditionDATA, the data and information services division of Compagnie Financiere Tradition, has announced SOFR enhancements to Bloomberg Capital Markets Package, a joint data service between TraditionDATA, CME Group, and Bloomberg that is available via the Bloomberg Terminal. Effective immediately, BCMP users will be able to access new SOFR-focused content, including USD medium term swaps vs. SOFR, USD SOFR basis swaps and SOFR OIS swaps data.

Following the decision by the Commodity Futures Trading Commission and the Alternative Reference Rates Committee to move to SOFR First, the updated BCMP service will provide additional regulatory robustness by focusing on SOFR as the key pricing mechanism. The LIBOR pages will remain available in a legacy form for firms that continue to utilize the outgoing benchmark.