Our free fintech update also features news from SS&C, Itiviti’s NYFIX, Drawbridge Partners and BNY Mellon.
Calypso Partners With 2021.AI
Financial software vendor Calypso Technology is partnering with an artificial intelligence IT platform provider, 2021.AI, to optimize back-office processes for Calypso’s global client base, officials say.
The two vendors will focus on delivering state-of-the-art AI models and Calypso will facilitate access to 2021.AI’s Grace AI platform, officials say.
“By partnering with 2021.AI, including leveraging both the 2021.AI Grace AI platform and the company’s expertise in developing models, we have fast-tracked our entry into providing machine learning and AI,” says Raj Manghani, global head of product development at Calypso Technology.
Officials at Calypso say that the first use case and model selected was the “Anticipate potential STP breaks/settlement failures,” using AI. “This provides failure probability to the securities back-office and was presented and well-received at the Calypso Client Conference in Paris in June this year.”
“Everyone who has worked in a financial institution has experienced the pain of the process failing and holding up the end of the day (EOD) completion. Calypso has defined great new functionality that will make EOD back-office processing and reconciliation run faster and smoother, minimizing errors and saving valuable time for the people involved, says Christian Villumsen, senior advisor at 2021.AI, in a prepared statement.
Calypso offers software applications for risk management, clearing, collateral, treasury and liquidity to capital markets participants, investment managers and central bankers, officials say.
SS&C Promotes to Fill Top Sales Positions
SS&C Technologies Holdings, Inc. reports that it has promoted Eamonn Greaves to global head of sales, and has moved Rob Stone into Greave’s former post as head of alternative assets sales in North America.
Greaves will report to Rahul Kanwar, president and chief operating officer (COO) for SS&C, and Stone will report to Eamonn, officials say.
“Eamonn has been instrumental in building our high-performing alternatives sales organization. In his new role, he is charged with developing a consistent strategy and process across the company to maximize our revenue opportunities with a focus on large and strategic accounts,” says Bill Stone, chairman and CEO for SS&C, in a prepared statement. Greaves joined SS&C in 2012 via the acquisition of GlobeOp, and has more than 20 years of business development experience.
“Rob is charged with building on our current success and developing new strategies to incorporate the myriad of products and services SS&C has built or bought,” the CEO adds.
In his expanded role, Greaves will oversee all of SS&C’s sales strategy “to fuel the company’s continued growth,” officials say. “He will be responsible for collaborating and leading the development of broad-client solutions maximizing SS&C resources.”
Rob Stone’s “responsibilities include mentoring and developing innovative salespeople, successful and scalable sales strategies, and methodically expanding SS&C’s reach,” officials say.
Itiviti Expands NYFIX’s Reach via B3 Partnership
Itiviti, a technology and service provider for financial institutions, has partnered with B3, the Brazilian stock exchange, to expand the NYFIX network in Latin America.
This partnership will “ensure reliable connectivity between global firms and B3 members,” Itiviti says in a statement.
As part of the partnership, Itiviti says, B3 will join Itiviti’s global alliance program (GAP), the umbrella under which the company manages all partner relationships globally, “enabling clients to leverage a highly integrated network of technology providers.”
B3 members will be able to access such services as “advanced analytics, monitoring and post-trade processing through the NYFIX portal.”
NYFIX connects approximately “1,600 buy- and sell-side firms of all sizes, including more than 150 exchanges and alternative venues worldwide,” per the provider, which notes that NYFIX offers “continuous service over more than ten years of operations with zero downtime.”
Drawbridge Introduces Management Platform
Drawbridge Partners, a cybersecurity services vendor serving hedge fund and private equity managers, reports the launch of an automated management platform.
DrawbridgeConnect, the new platform, complements the vendor’s current offering and allows firms to “ensure regulatory compliance and satisfy investor demands, Drawbridge says, adding that users can “extract data in real time.”
DrawbridgeConnect “allows users to easily aggregate internal cyber risk assessment data to drive analysis and determine program strength and remediation, create and manage a resilient program to fulfill evolving data privacy mandates, and seamlessly coordinate end-to-end communication with their personnel in the event of a cyber incident,” per the vendor, allowing firms to “easily assess third party vendor cybersecurity risk and ensure all shared data is protected.”
BNY Extends Trading Hours for Irish UCITS ETFs
BNY Mellon has introduced extended dealing hours for Irish Undertakings for Collective Investment in Transferable Securities (UCITS) ETFs, officials say.
Also known as 24×5 ETF Dealing, the effort represents a “collective investment in transferable securities to support the distribution of these products globally,” the bank says.
More specifically, issuers can now deal Irish UCITS ETFs from Monday morning in Singapore through to Friday afternoon in New York.
The introduction of 24×5 ETF dealing “supports the distribution of Irish UCITS ETFs in APAC and Latin America, two key markets in the expansion of the UCITS global brand,” the bank notes.
BNY Mellon calls its extension of dealing hours for Irish UCITS ETFs a “significant building block towards creating a more efficient global ETF distribution structure and is aligned with other initiatives, such as Euroclear’s international settlement model.”