For our free FinTech roundup, we cover news from Wolters Kluwer’s FRR unit, CME & Google Cloud, and QuantHouse & EliData.
CAT System Aggregates Internal & External Reports
Investment bank Cowen has gone live with a Consolidated Audit Trail (CAT) data aggregation and validation process that uses regulatory reporting vendor n-Tier’s Compliance Workbench to pull together external and internal reports, officials say.
The system from n-Tier gathers CAT reports from “external vendors and internal trading systems,” validates reporting data, automatically corrects pre-submission “deficiencies found in vendor CAT files,” and manages correction and re-submission processes “through the platform’s user interface,” officials add.
“The Cowen implementation is in AWS [Amazon Web Services] for CAT,” n-Tier officials tell FTF News in a prepared statement. “Since FINRA is running CAT in AWS, it has been easier for firms to run there as the communication to/from FINRA’s AWS deployment is seamless. We now offer a fully-hosted, cloud solution in AWS, driven mostly by CAT, in addition to the prior options of onsite as well as dedicated hardware with our other hosting provider,” n-Tier officials add.
“With the implementation of this initial phase of CAT behind us, we are confident that we will be able to actively manage the expansion of CAT reporting obligations,” says John Holmes, chief operating officer (COO) at Cowen, in a prepared statement. “We have worked with n-Tier for years on a range of regulatory reporting projects.”
“The comprehensive, multi-layered validations that their platform delivers helps us reduce our regulatory reporting risk while ensuring the overlapping data used in different reporting regimes remains in sync with our CAT reporting,” adds Anthony Carbonara, head of operational and credit risk for Cowen, in a statement.
Based in New York City, Cowen offers investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing, commission management services and actively managed alternative investment products, officials say.
n-Tier officials say their platforms are highly configurable, and can be installed locally or used as part of our cloud offering.
Wolters Kluwer Launches Professional Services for FRR
The finance, risk, and regulatory reporting (FRR) business group of vendor Wolters Kluwer has a new professional services offering for “ongoing software management and maintenance, specifically for the Americas market.”
The service is “designed to help Wolters Kluwer’s clients in the region leverage private cloud environments to more efficiently scale their risk and reporting infrastructures,” the vendor says in a statement.
“As part of this new service Wolters Kluwer FRR’s team of functional and technical consultants will help clients define both business requirements and technical specifications needed to move to a private cloud environment when implementing the OneSumX FRR suite of solutions,” the company adds. “This allows business users to focus on executing day-to-day functions.”
In addition, says Wolters Kluwer, technical consultants “will be available to remotely manage and support a client’s integrated system to run optimally, utilizing a combination of software upgrades, archive management and system tuning and optimization for improved performance.”
CME’s Delayed & JSON Data Accessible Via Google Cloud
Customers can now access real-time and delayed data in FIX Binary and real-time JSON formats, without the need to provision servers, install a network, or manage infrastructure, on Google Cloud, CME says in a statement.
Delayed data is automatically compliant with CME Group licensing policies, removing the need for intermediary data service providers, the derivatives marketplace adds. In addition, JSON formats provide an accurate look at buy and sell orders and can easily plug into any existing application and help simplify workflow for customers, per CME.
QuantHouse & EliData Building Smart Order Router
Vendors QuantHouse and EliData have begun jointly offering financial market data and execution services in Europe.
QuantHouse characterizes itself as a provider of end-to-end trading procedures and processes, including market data services, an “algo,” or algorithm-based, trading platform and infrastructure products. EliData characterizes itself as an Italian software house that develops trading and order-routing applications for the financial markets.
Under the new partnership, QuantHouse and EliData will integrate QuantFeed market data into the EliData Smart Order Router (SOR), the vendors say in a joint statement.
QuantFeed offers market data from more than 145 exchange data feeds and delivers them to the EliData SOR using a single application programming interface (API). EliData is part of Cedacri S.p.a, an Italian company, offering outsourcing services for the banking sector.