This Week: SGX/Trumid/Hillhouse, Northern Trust/IHS Markit, LME, Six, and more

SGX, Trumid, and Hillhouse Capital to launch a new bond trading platform

Trumid, Singapore Exchange (SGX), and Hillhouse Capital have formed a joint venture, XinTru, to launch and operate Trumid XT, a new Asian bond trading platform.

The partnership leverages Trumid’s technology and fixed income expertise, SGX’s experience in Asian financial market infrastructure and electronic trading, and Hillhouse’s network in Asia and the financial services sector.

Trumid XT will enhance international access to Asian bond markets and facilitate Asian investor participation in US and global emerging market credit.

XinTru’s independent management team includes chief revenue officer Ben Falloon and chief operating officer Mark Leahy.

Northern Trust forms alliance with IHS Markit’s thinkFolio

Northern Trust has entered into an alliance with thinkFolio, IHS Markit’s multi-asset class investment management platform, to streamline investment operations for asset managers and asset owners.

The integration between thinkFolio and Northern Trusts’ middle office outsourcing platform will allow both firms to offer mutual institutional clients innovative solutions and an end-to-end process that streamlines workflows and mitigates clients’ operational costs.

Exberry and Digital Asset team up with Baymarkets

Exchange technology provider Exberry, Digital Asset, and clearing system developer Baymarkets, have partnered to enable new digital asset marketplaces to launch on a fully-compliant, end-to-end exchange platform encompassing registry, custody, trading, matching, and clearing services.

In August 2020, Digital Asset and Exberry launched an end-to-end exchange infrastructure-as-a-service for modern markets, including digital assets. The architecture now features Clara, the multi-asset clearing system from Baymarkets, to execute clearing and calculate margin and collateral requirements for spot and derivatives markets.

With the addition of Clara, the combined solution enables efficient margin management, automatic mark to market payments, and clearing capabilities.

LME chooses Itiviti to automate client onboarding

The London Metal Exchange (LME) has chosen Itiviti’s FIX Conductor and VeriFix Enterprise solutions to automate the onboarding process for clients.

The implementation is part of the LME’s wider program to refresh its overall trading infrastructure, including the rebuilding of LMEselect, its electronic member-to-member trading system.

The new version of LMEselect will deliver FIX 5.0 protocol access through a gateway that will give clients access to all the partitions within the trading system. The system will also offer binary protocol partition-specific gateways and a new trading GUI.

Six launches first ESG indices in the Swiss equity and bond markets

Six has launched new ESG indices in the Swiss equity and bond markets. To develop the indices, it used data sources, including the independent Swiss sustainability rating agency Inrate, which measures companies’ positive and negative impacts on the environment and society.

It now offers two Swiss Performance Index (SPI) ESG indices for equities. For bonds, there are 20 new Swiss Bond Index (SBI) ESG indices available.

To be included in the indices, a company must have an ESG Impact Rating of at least a C+ and generate no more than 5% of its revenue in a critical sector, including adult entertainment, alcohol, armaments, gambling, among others.

Plenitude launches cloud-based RegSight

Plenitude, the financial crime, risk, and compliance services provider, has launched Plenitude RegSight, a cloud-based financial crime compliance (FCC) obligations management solution. RegSight will help firms identify and manage FCC obligations, improve operational efficiency, and drive more effective financial crime risk management.

RegSight can identify specific legal and regulatory obligations across a multitude of sources, jurisdictions, and FCC domains along with corresponding regulatory and industry guidance, including the latest UK laws and regulations post-Brexit.

Compliance teams can use RegSight’s proactive horizon scanning to anticipate changes in relevant laws and regulations ahead of time and quickly identify any potential gaps in their policy framework through the self-assessment tool.

Overbond and Valantic FSA partner to streamline fixed income workflows

Overbond and Valantic FSA have teamed up to integrate Overbond’s pricing and liquidity scoring technology with Valantic’s eFICC trading solutions. Through the integration, global fixed income traders can streamline their workflow and use AI to automate up to 50% of requests for quotes (RFQ).

Cobi-Pricing Live is a customizable AI pricing engine that helps traders automate pricing for global investment-grade bonds, while Valantic FSA’s next-generation eFICC trading platform integrates market-making, bond pricing, and hybrid connection to electronic dealer-to-dealer and dealer-to-client venues and data platforms.

First New York selects Eventus Systems for trade surveillance

First New York, a multi-asset class investment firm, has deployed Eventus Systems’ Validus platform to meet its global trade surveillance needs. The firm has begun using the cloud-based version of Validus for futures and will soon use it to surveil all of its equities and equity options trading activity.

First New York, which specializes in equities, derivatives, fixed income, currencies, commodities, and futures across global markets, executes hundreds of thousands of transactions annually.

According to Shawn Fischman, general counsel & chief compliance officer at First New York, the way Validus can be trained through its machine learning capability stood out among other trade surveillance solutions. Validus can identify certain patterns, and simplify and manage the compliance staff’s day-to-day review process.

StoneX selects Genesis’ low-code application platform

StoneX, formerly known as INTL FCStone, has selected Genesis to fully automate and digitize middle-office workflows for its equities and fixed income trading business.

StoneX is an institutional-grade financial services network connecting companies, organizations, traders, and investors to the global markets ecosystem.

Genesis has integrated StoneX with an agile middle office application from the Genesis Application Library. The application is multi-asset class and integrates seamlessly with StoneX systems using the Genesis Low-Code Application Platform (LCap) industry adaptors and APIs.