This Week: DTCC, Enfusion, Trading Technologies, Clearstream & more

Enfusion launches new OEMS

Enfusion has launched Enfusion Express, a software-as-a-service (SaaS) order and execution management system (OEMS). The provider of cloud-native investment management solutions intends for its new OEMS to assist smaller fund managers, typically with less than $100 million in assets under management (AUM). Enfusion Express has been designed to enable smaller managers who have limited resources but comprehensive requirements to access pre-trade, execution, and post-trade solutions.

TRG Screen delivers actionable insights from market data spend information

TRG Screen has announced the introduction of Optimize Insights. The subscription management solutions provider hopes to unlock new insights and reporting capabilities within Optimize Spend, its market data management software platform. Optimize Insights sits within TRG Screen’s Optimize platform, which was launched in 2020. The new solution offers an intuitive visual analytics platform for proactive market data management. It also supports other enterprise subscriptions, such as research, telecoms, IT, and software. Optimize Insights is currently available to customers of Optimize Spend.

DTCC’S Margin Transit Utility is now connected to all triparty agents

The Depository Trust & Clearing Corporation (DTCC) has announced that its Margin Transit Utility (MTU) is now connected to triparty agents including BNY Mellon, BNP Paribas Securities Services, Clearstream, Euroclear, JP Morgan, Six Group, and State Street. MTU intends to enable users to settle, monitor, and report matched collateral calls, while connecting to and sharing information with multiple counterparties. These counterparties include automated instructions for triparty agents.

Trading Technologies launches connectivity between NSE and SGX

Trading Technologies (TT) has begun offering clients access to the Nifty equity derivatives through the National Stock Exchange of India (NSE), Indian Financial Code System-Singapore Exchange (IFSC-SGX). The joint initiative between NSE and SGX, called The Connect, launched on July 29, 2022. The offering looks to enable both international and domestic market participants to take a position on India’s equity markets through futures based on the Nifty 50.

Clearstream and Pirum offer new collateral interoperability

Clearstream and the securities finance automation provider Pirum, have extended their services to offer new collateral connectivity. This extended partnership intends to allow mutual clients to automate the calculation, matching, submission, and validation of collateral requirements and allocations. The extended connectivity could assist clients with agreeing collateral on a real-time basis and reducing collateralization timeframes.

Osttra launches new solution to digitize paper confirmations

Osttra has launched a paper digitization solution. The joint venture in post-trade by CME Group and Standard & Poor’s (S&P) Global, hopes that its new solution will enable market participants to reduce the amount of time it takes to process paper confirmations for complex over-the-counter (OTC) derivative transactions. The new solution is an enhancement to the existing paper trade workflows for investment managers on OsttraTrade Manager. The enhanced solution uses artificial intelligence (AI) to extract and digitize details from transaction records, such as the notional value of a swap or strike price of an options contract.

Overbond secures new round of funding from Fitch Group

Overbond has secured funding from Fitch Group, a credit and risk analytics agency. The trade automation solutions provider will use the capital to grow its sales and marketing division and double its headcount. Overbond plans to open an office in London over the coming year, and intends to integrate new data sources to expand its artificial intelligence models’ coverage.

Blue Ocean Technologies integrates with Broadridge

Broadridge Financial Solutions has announced a partnership with Blue Ocean Technologies, provider of an afterhours trading platform. Blue Ocean’s platform will tie into Broadridge’s VeriFIX solution, which could enable Blue Ocean to simulate Fix order flow in a non-production environment. Blue Ocean could also reap additional client connectivity to manage client order flow through Broadridge’s managed Fix client connectivity layer.

Sifma, ICI and DTCC publish T+1 Implementation Playbook

The Securities Industry and Financial Markets Association (Sifma), the Investment Company Institute (ICI), and the DTCC have published the T+1 Securities Settlement Industry Implementation Playbook. The agenda outlines an approach to identifying the implementation activities, timelines, dependencies, and risk impacts that market participants should consider to prepare for the transition from the current T+2 settlement cycle to the T+1 settlement cycle.

SymphonyAI acquires NetReveal

SymphonyAI, a California-based artificial intelligence (AI) software provider is acquiring NetReveal from BAE Systems. NetReveal is a platform developed by BAE Systems that offers a suite of risk, fraud, and compliance solutions. The financial crime platform manages anti-money laundering (AML) detection and regulatory compliance. SymphonyAI hopes that its customers will benefit from the merging of its AI capabilities and NetReveal’s financial crime detection technologies. Following this acquisition, SymphonyAI’s financial vertical will consist of NetReveal. The transaction is expected to be completed later this year.