Limeglass Gets Funding from JP Morgan

JP Morgan has made an undisclosed investment in Limeglass. The London-based vendor specializes in financial research technology, using a blend of natural language processing and machine learning, combined with a proprietary cross-asset and macro taxonomy to tag each paragraph in the report in context. Limeglass is a graduate of JP Morgan’s In-Residence program, an incubator for startups to develop production-ready solutions.

• LISTEN: JP Morgan’s Oliver Harris joins the podcast to talk about the bank’s In-Residence program. Click here to listen.

ExtractAlpha Launches Alt Data Analytics Platform

ExtractAlpha is rolling out a new alternative data analytics offering for portfolio managers. Dubbed Insight, it will help users to see their exposure to alternative data-driven factors and manage risk. The tool can visualize a portfolio’s overall exposure and drill down into any stock to assess its exposure to ExtractAlpha’s alternative data factors and predictive models. Currently, Insight covers 3,000 US stocks.

Trumid, Citi Partner for Credit Market Trading

Electronic corporate bonds trading platform provider Trumid Financial is partnering with Citigroup to create new tools that they hope will provide added liquidity and connectivity to fixed income institutional clients. Citi is backing Trumid through its Spread Products Investment Technologies (SPRINT) program, which lies within the Citi Markets FinTech Investments unit. As a result of this pairing, Citi will appoint a member to Trumid’s Trading Advisory Committee in order to provide long-term input into product development and market structure evolution.

Jefferies and Integral Come Together on New FX Offering

Investment banking firm Jefferies is teaming with FX specialist Integral to launch a new service geared toward buy-side firms that will allow them to connect and trade with the foreign exchange market. The centrally-cleared venue, dubbed TrueFX, provides direct access to FX liquidity through a single point of credit intermediation and technology integration. It is open to the entire OTC community. Participants access other TrueFX community members via a dedicated Integral connectivity network and either a direct credit relationship with Jefferies FXPB, its foreign exchange prime brokerage unit, or a relationship with a client of Jefferies FXPB. The companies contend that trading, technology and credit costs are significantly reduced by combining the solutions into a single offering.

CLS Unveils FX Forward Dataset

CLS is rolling out a new data product geared toward the FX industry. The offering, called FX Forward Volume, focuses on outright forwards and swaps and provides an aggregated view of the forward market, which covers 33 major currency pairs. This is CLS’s first data product for the FX forward market as CLS’s existing data products currently address the FX spot market.

EEX Buys NFX

Nasdaq is selling its futures and options exchange business—Nasdaq Futures (NFX)—to Germany’s EEX Group, which will acquire the core assets of NFX, including the portfolio of open interest in NFX contracts. The transaction involves the transfer of existing open positions in US power, US natural gas, crude oil, ferrous metals and dry bulk freight futures and options contracts to EEX Group’s clearing houses Nodal Clear and European Commodity Clearing (ECC). EEX, which stands for European Energy Exchange, has 17 locations around the world and is part of Deutsche Börse Group.

Swiss Bank Deploys Numerix’s Oneview Platform

Luzerner Kantonalbank (LUKB), which is headquartered in Lucerne, Switzerland, has deployed Numerix’s Oneview for Trading platform, which provides an infrastructure for structured note issuance and management, which the bank is looking to build out.

“Making the economics of the business work was a high priority for us as high costs and low volumes could result if structured note issuance and management was handled manually,” said Claudio Topatigh, head of competence center structured products at LUKB, in a statement. “As such, it was important for us to build out a flexible solution with strong structuring capabilities that could accelerate time-to-market for new products, something that can be especially difficult given the complexity of the notes, but essential if we were to meet market demand and compete with state-of-the-art issuers. Not only were we able to reduce time-to-market but have been able to gain brand awareness in a mature market with established competitors.”