In other news, BNP Paribas Wealth Management works with InvestCloud, Eventus taps Virtu, and ASX uses triReduce.
BAE Clients Get Access to Kharon’s Analytics
Anti-money laundering (AML) solutions provider BAE Systems Applied Intelligence is partnering with Kharon, a research and data analytics vendor to offer BAE customers Kharon’s data and analytics to improve sanctions screening and bolster investigations, officials say.
The partnership will enable BAE Systems compliance solution NetReveal to access Kharon datasets that cover “high-priority risk types, such as majority-owned subsidiaries of sanctioned and restricted actors, leaders of sanctioned and restricted firms and their subsidiaries, and vessels and operators tied to sanctioned networks,” officials say. “Clients can also create custom lists tailored to specific business requirements.”
Challenging regulatory regimes across the globe are pushing firms to “go beyond screening of government lists,” says Peter Fisher, director of product, BAE Systems Applied Intelligence, in a prepared statement. The NetReveal-Kharon combination “allows businesses to immediately ascertain whether they are associated with sanctioned or trade-restricted entities and take the appropriate next steps,” Fisher says.
BNP Paribas Wealth Management Taps InvestCloud
BNP Paribas Wealth Management will be deploying InvestCloud solutions to hasten the onboarding of high-net-worth clients to bolster client engagement and management, officials say.
InvestCloud will the BNPP division with client relationship management (CRM) and client lifecycle management (CLM) services.
The BNPP group intends to ease the “integration with existing systems using InvestCloud’s modular architecture,” and help BNP Paribas Relationship Managers (RMs) offer a “more responsive and proactive level of client service, for better client retention and client growth,” officials say.
InvestCloud offers digital platforms for the development of financial solutions that are pre-integrated into cloud computing installations, officials say. The Los Angeles-based vendor has more than 20 global offices including New York, London, Geneva, Singapore, Tokyo, and Sydney.
Eventus Systems Hires from Virtu
Industry veteran J.J. Allingham has joined Eventus Systems as a sales director, reporting to Scott Schroeder, global head of sales for the vendor, officials say.
Allingham was previously head of broker-dealer sales and Sigma X at Goldman Sachs and more recently was at Virtu, covering large institutional clients for six years, officials say.
For nearly three decades, Allingham worked in the sales and trading of equities, options, futures, fixed income, currencies, and commodities (FICC), and digital assets, according to Eventus. He also has expertise in execution management systems (EMSes) and order management systems (OMSes). He will be based in Rumson, N.J., and focused on broker-dealers, exchanges, futures commission merchants (FCMs) and large asset managers.
ASX Deploys triReduce Compression Services
The Australian Securities Exchange (ASX) is live with the triReduce compression service of the TriOptima infrastructure risk reduction offerings for over-the-counter (OTC) derivatives markets, officials say.
“The service allows firms to reduce or eliminate their trades within the exchange’s clearinghouse, including those trades with mismatched cash flow dates, thereby reducing the size of their cleared OTC derivatives portfolio,” according to TriOptima officials. The triReduce offering is intended to help firms “local and global banks … complete regular compression runs in the region and benefit from a reduction in capital, risk and operational costs.”
Compression services are intended to “lower costs and drive operational efficiency for users of OTC derivatives,” says Allan McGregor, a senior manager, rates at ASX, in a prepared statement. The partnership with TriOptima will target ASX’s OTC clearing customers, McGregor adds.
The CME Group owns TriOptima, which provides optimization and reconciliation services while the affiliated Traiana offers trade processing services.