This Week: Numerix/Genstar, Overbond/TMX, Six and more

Numerix acquired by Genstar Capital

Numerix, a provider of a variety of risk management tools geared toward the capital markets, has been acquired by private equity firm Genstar Capital. Numerix has 19 offices, 225 clients and 90 partners, globally. Genstar invests in companies in the financial services, software industries, industrials and healthcare sectors.

“For over 20 years, we have worked tirelessly to provide the most sophisticated analytic and technology solutions available to capital market participants across the globe,” said Steven O’Hanlon, Chief Executive Officer, and President of Numerix, in a release. “We’ve always had a clear vision for the organization. Together with Genstar and their long track record in the financial services and software industries, we look forward to expanding our footprint across the entire value chain in the front-to-risk market providing even greater value to our customers.”

Scott Niehaus, director of Genstar, said: “Numerix is capitalizing on several macro tailwinds, including the digital transformation of capital markets, continued complex regulatory requirements and substantial market volatility across asset classes and geographies.”

Terms for the deal were not disclosed.

Overbond, TMX partner on Canadian bonds data product

Overbond, a provider of AI analytics and trade automation solutions for the global fixed income markets, is partnering with TMX Group to integrate the latter’s CDS Fips settlement-layer Canadian bond data into Overbond’s analytics platform.

The aim of the project is to help asset managers in Canada to better price Canadian bond portfolios, structure and rebalance portfolios, and construct and use pricing and liquidity time series. Through the partnership, users will have increased access to fixed income trade data to help with functions like pre- and post-trade analytics.

Six rolls out enhanced triparty collateral management tool

Infrastructure provider Six has migrated its triparty collateral management (TCM) platform into its triparty agent (TPA) with the collateral CockpitTM, which has managed repo services since June 2020. When using the TCM service, two parties to a transaction delegate their day-to-day operational responsibilities around collateralization to Six. The Six TPA performs tasks such as the selection and automatic execution of collateral transfers and ongoing validation that exposures are being appropriately collateralized through multiple daily mark-to-market checks on the collateral throughout the lifecycle of the transaction.

Santander to distribute Trovata’s cash management platform

Trovata, a cash management platform provider, has signed a distribution agreement with Santander. Through it, the Spanish bank will make the Trovata offering available to its corporate and investment banking clients. The platform automates workflows around cash management, including automated cash reporting, analytics around historical cash flows, and a labeling mechanism that uses AI to model out future cash flows.