This Week: Instinet/FIS, Goldman/Quant Insight, Nasdaq/Metrio and more

Instinet to acquire ‘Fox River’

Instinet Holdings has agreed to acquire FIS’s Execution Services business, formerly known as Fox River, which was became part of FIS after its acquisition of SunGard in 2015. The agency broker, which was established in 2000, provides execution algorithms and tools, including direct market access and sales trading. Terms of the deal were not disclosed.

SocGen taps FIS for derivatives

French investment bank Societe Generale has signed an agreement with FIS to incorporate its derivatives clearing and settlement technology. As part of the agreement, the financial services group will transition their existing derivatives clearing and settlement IT environment to FIS Cleared Derivatives Suite.

Goldman Sachs adds Quant Insight to Marquee

Goldman Sachs will offer Quant Insight’s quant macro analytics tool through its Marquee platform. As a result, Marquee users will be able to access Quant Insight’s Macro Dynamics analytics, which will allow users to measure the exposure of their portfolios to key macro factors, such as GDP growth, inflation, monetary policy, and financial conditions.

Nasdaq to acquire Metrio

Nasdaq is acquiring Metrio, a privately held provider of environmental, social and governance (ESG) data collection, analytics, and reporting. The vendor is based in Montreal, Canada, and was founded in 2009. Nasdaq plans to integrate Metrio’s Software-as-a-Service (SaaS) platform into its suite of ESG solutions. The deal is expected to close by mid-June, and financial terms have not been disclosed.

Unqork, Triterras partner on trade finance platform

Triterras is using Unqork to enhance its trade finance platform, Kratos, using the no-code provider’s drag-and-drop interface. Triterras will first build a new client onboarding interface for the platform. The vendor will then look to use Unqork’s no-code platform to migrate risk and fraud mitigation, trade digitization, and transaction tracking.

Paxos unveils new crypto trading service for broker-dealers

Paxos announced the launch of financial adviser crypto trading within Paxos Crypto Brokerage. This functionality allows broker-dealers to provide a wealth management solution to financial advisers to trade crypto on behalf of their clients. The service aims to provide tax, allocation, settlement, and commission functionalities that also adhere to pricing requirements across other asset classes.