This Week: Finos, Cboe Global Markets, Aiviq/Alliance Bernstein & more

Finos, Isda, Isla, Icma launch Common Domain Model project

The Fintech Open Source Foundation (Finos) has released the common domain model (CDM) alongside the International Swaps and Derivatives Association (Isda), the International Capital Market Association (Icma), and the International Securities Lending Association (Isla). The initiative aims to provide an open framework for the management and trading of assets across their lifecycle. The three trade associations selected Finos to provide an open source repository in which the CDM user community can access and consume the model for the CDM project.

The CDM began at Isda as a single digital representation of trade events and actions for over-the-counter derivatives. The joint initiative between Isda, Icma, and Isla extends the CDM from derivatives to fixed income, repo, and securities lending. The project aims to promotes transparency and alignment in financial markets by producing consistent trade data, enhancing risk management, and standardizing trade processing.

The CDM is now available under the FINOS Community Specification License 1.0.

To read more about the implementation of the CDM and its implications for market players, click here.

Cboe Global Markets introduces US options market data solution

Cboe Global Markets has announced the imminent release of a new market data offering for US options pricing. The market infrastructure company intends to launch the Cboe One Options Feed in March 2023, subject to regulatory approval.

Cboe operates four US options exchanges, which together account for around 31% of all US options trading volume. The new Cboe One Options Feed will deliver real-time quote and trade information consolidated from all four Cboe exchanges by aggregating the best bid and offer (BBO) of all displayed orders for equity, ETF, and index options traded.

The new product will deliver consolidated quote and trade information using the same protocol and message structure as the Cboe’s existing equities market datafeeds for the US and Canada.

The Cboe One Options Feed will be made available on-premise in Cboe’s primary and secondary datacenters in Secaucus, New Jersey, and Chicago, Illinois, and in applicable Cboe locations. The feed will also be made available in multiple locations around the world through its cloud-based data streaming service, Cboe Global Cloud.

TNS unveils dedicated server

Transaction Network Services (TNS) has launched a standardized dedicated server, the first phase in the deployment of its new cloud platform for financial markets. The new product, designed for high-performance trading, uses TNS’s bare metal servers.

TNS will offer 16 standardized server options for front- and middle-office trading infrastructure depending on the particular needs of clients. In a press release, the company said that the dedicated server was designed to reduce time-to-market, eliminating the lengthy process of procuring hardware to connect to new markets.

The cost of TNS’s dedicated server rental includes a monthly fee with terms as low as one month.

AllianceBernstein selects Aiviq for client AUM and flow data services

Aiviq, a cloud-based SaaS for asset managers, has forged a multi-year deal with investment management firm AllianceBernstein (AB). Aiviq will provide AB clients with assets under management (AUM) and flow data management services.

Aiviq has licensed its client AUM and flow data management platform to AB, and will provide a variety of enterprise AUM and flow data sets. The deal is intended to standardize a diverse range of AUM and flow data sources across AB’s European funds business to support the investment management firm’s reporting and analytics requirements.

IMC makes strategic investment in Clear Street

Prime broker Clear Street has received a strategic investment from IMC Investments, the venture capital arm of proprietary trading firm and market maker IMC. Clear Street’s cloud-native prime brokerage platform processes more than $10 billion in daily notional trading value of US equities. The company also raised $165 million in a Series B funding round in May 2022.

EDI introduces Luxembourg Funds Data Service
Exchange Data International (EDI), a provider of security corporate actions, pricing, and reference data services, has inaugurated its Luxembourg Funds Data Service.

The new tool provides reference and corporate actions data for more than 50,000 share class funds from over 400 fund management companies. The launch of the Luxembourg funds data service is part of EDI’s aim to cover all tradeable assets in the market. With the addition of Luxembourg, the largest fund market on the continent, EDI now covers 90% of all funds in Europe.

Landytech Secures $12 million Series B Funding from Aquiline Technology Growth

Landytech, the owner of investment reporting platform Sesame, has secured $12 million in Series B funding. In a release, the company said that the capital will go towards accelerating international growth and supporting product development.

The funding round was led by Aquiline Technology Growth, with an additional investment from existing investor Adelie Capital. This follows on from the $6 million in Series A funding Landytech achieved in March 2021.

Shieldpay partners with Fenergo on due diligence solution

Client lifecycle management (CLM) provider Fenergo has tapped payments fintech Shieldpay to build a CLM and risk monitoring system. The product will combine the capabilities of Fenergo’s CLM and transaction monitoring SaaS with those of Shieldpay’s B2B payments platform, which has processed over $5bn of corporate funds for M&A deals, litigation settlements, and secondary transactions to date, with the aim of giving the payments provider continuous risk monitoring to help fight financial crime.