This Week: Genesis/Interop.io; S&P Global; Finos/OS-Climate and more

Genesis Global, Interop.io announce alliance

Genesis Global and Interop.io will team up to promote software innovation and customized, multi-application workflows in the financial markets industry. Genesis is known for its low-code solutions, while Interop.io specializes in application interoperability. Through this partnership, mutual clients can bring applications built on Genesis into Interop.io’s platform.

“[As a result of this pairing], with Interop.io and FDC3, third-party systems that must run on the desktop such as Salesforce or Bloomberg can more easily interoperate with Genesis applications,” said Leslie Spiro, CEO and cofounder of Interop.io, in a statement.

Version 8 of the Genesis Application Platform was released on June 1. 

S&P adds new private markets tool

S&P Global Market Intelligence has launched a new module, Peer Comparables, that will integrate S&P Capital IQ financials and estimates data into iLevel, its portfolio management solution for private markets investors. The module will deliver public company financial data and consensus estimates as an overlay to the proprietary portfolio data of general partners and asset managers. 

That data will include insights into private company valuations by allowing users to reference financial data from public companies and compare them to metrics from their own private portfolio companies. Peer Comparables will also include charts and visual analytics, side-by-side views of public company financials alongside proprietary alternative investment data in iLevel, and the ability to manage and share company lists across teams within the platform.

Finos merges with OS-Climate

The Linux Foundation is merging the Fintech Open Source Foundation (Finos) with OS-Climate, an open-source community dedicated to building data technologies, modeling, and analytic tools that will drive global capital flows into climate change mitigation and resilience.

As part of the merger, OS-Climate projects—Climate Data Commons, Portfolio Alignment, Risk & Resilience Tools, Transition Scenario Planning—will continue as Finos projects. Current OS-Climate members will join the Finos community of nearly 100 corporate members.

“Goldman Sachs has maintained a long-standing commitment to open-source data and its potential to solve for key measurement problems in climate, sustainability, and regulatory tech,” said Kara Mangone, head of Goldman Sachs’ sustainable finance group. “As a founding, platinum member of Finos and a premium member of OS-Climate, Goldman Sachs has supported both organizations in their growth and development and looks forward to continuing to support and amplify the power of open-source data and collaboration, across climate and other key areas for regulatory data, following the merger.”

Crossover Markets lands $12 million in Series A funding

Crossover Markets, a digital asset technology startup, has raised $12 million in a Series A funding round led by Illuminate Financial and DRW Venture Capital. Those two firms join other strategic investors that include Flow Traders, Laser Digital, Two Sigma, Wintermute, and retail brokers such as Exness, Gate.io, GMO, Pepperstone, Trademax and Think Markets.

Crossover’s flagship platform is its execution-only ECN, CrossX, an institutional trading venue for digital assets. The platform offers ultra-low-latency trading and quote-driven matching technology, combined with tailored liquidity and smart order routing.

The vendor also announced the addition of new board members. Mark Beeston, founder and managing partner of Illuminate Financial, will join Crossover’s board of directors along with Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX.

Canadian pension fund taps SimCorp’s investment management platform

The Public Sector Pension Investment Board (PSP Investments), which manages CAD$264.9 billion ($193.5 billion) of assets, will use the SimCorp One platform to support its investment management workflows. The Montreal-based firm says the deployment aims to simplify its investment management operations and minimize manual processes.

“Throughout our successful collaboration, SimCorp has demonstrated a deep understanding of our operational needs, affirming our decision to choose their solution for PSP Investments’ strategic consolidation of public and private operations,” said David Ouellet, chief technology, data and operations officer at PSP Investments, in a statement. “Our project’s goal is to create a cohesive technological platform that supports total portfolio management, enabling strategic decision-making at the highest level.”

TT, Hidden Road form partnership

Trading platform provider Trading Technologies is partnering with Hidden Road, a global credit network for institutions, through Hidden Road Partners CIV US, its futures commission merchant. The move will enable Hidden Road clients to utilize the TT platform for trading across a broad range of asset classes and products, including traditional cleared derivatives as well as digital assets. TT is the first independent platform Hidden Road has made available to clients for cleared derivatives.

Cboe Australia, Marketech to team up

Cboe Australia and market data and trading tools provider Marketech are expanding their partnership. As a result of this latest agreement, Marketech has expanded the accessibility of its research and trading platform, Focus—which was launched in 2020—by incorporating equities and ETF market data from Cboe Australia. In addition to having access to more Cboe Australia market data, investors using Focus now also have the ability to self-direct their lit and midpoint orders to the Cboe Australia market.