Our FinTech update also includes news from RJO, AQMetrics, TradingScreen, IHS Markit, Cardano, CloudMargin and the CFTC.
FactSet Combines KYC & RPA for New App
FactSet, a provider of financial information and analytical applications, reports the release of FactSet KYC, a cloud-based software-as-a-service (SaaS) application intended to streamline Know Your Customer due diligence.
The new app combines KYC robotic process automation (RPA) with FactSet content and public registries, improving the efficiency and consistency of the customer due diligence process, FactSet says in a statement.
FactSet adds that users will be able to automate repetitive activities; execute repeat policies consistently; access data, including corporate hierarchies, beneficial owners, and sanctions information; and analyze and record customer and geographical risk factors with greater speed, reliability, and depth.
FactSet tallies more than 122,950 users.
R.J. O’Brien Names Head of French Affiliate
London-based R.J. O’Brien Ltd. has appointed Simon Prangnell, a former managing partner at Coex Partners, to head the firm’s new affiliate R.J. O’Brien France S.A.S., officials say. R.J. O’Brien Ltd. is a sister company to R.J. O’Brien & Associates (RJO).
Prangnell has spent the past 23 years of his 34-year career running large derivatives operations out of Paris, according to RJO. He has experience in listed derivatives, institutional brokerage and has held leadership positions at major financial institutions. He joined the French affiliate this month as managing director for France.
In addition, R.J. O’Brien France has hired Martin Marchant, an institutional broker and senior vice president who has worked closely with Prangnell since 2002, officials say. Jérôme Jourquin joined the affiliate in March as senior vice president and its first institutional broker.
“The new office was announced in March as an initiative that will give R.J. O’Brien its first foothold in mainland Europe and further its strategic global growth initiative, aimed at building on the company’s core offerings,” according to RJO officials. “French regulators have granted the new affiliate preliminary approval, and institutional brokers — including Prangnell — will begin executing orders as soon as the firm receives final clearance.”
Coex Partners Ltd., an independent agency broker, was acquired in 2017 by TP ICAP.
RJO has offices in Chicago, New York, London, Dubai, Hong Kong, Beijing and Seoul, in addition to Paris. The firm intends to open an office in Singapore, officials say.
AQMetrics Extends ARM for MiFID II Reporting
Regtech vendor AQMetrics reports that it has extended its Approved Reporting Mechanism (ARM) solution and has launched a self-service software as a service (SaaS) solution for MiFID II transaction reporting, which impacts international firms and more than 10,000 firms regulated across Europe.
“The customer-centric SaaS platform allows firms to sign up online for transaction reporting, self-manage data from multiple sources, avail of smart-validations with real-time error handling, and machine-to-machine reporting to the competent authorities,” officials say.
AQMetrics offers regulatory risk and compliance solutions for financial services firms.
The vendor is offering potential customers a way to sign up online for a 30-day free trial to evaluate the SaaS platform and experience the value of a customer-centric solution, officials say.
IHS Markit thinkFolio Integrates TradingScreen
TradingScreen Inc., an all-asset class order and execution management system (EMS), reports a certified integration with thinkFolio, IHS Markit’s investment management platform.
The integration “ensures that mutual clients benefit from a standardized and certified interface between the two platforms which will provide scalability and reduce costs,” the firms declare in a statement.
The certification offers thinkFolio clients “access to TradingScreen’s EMS functionality that can be quickly adopted as a SaaS platform, “the firms’ statement adds.
Cardano Now on CloudMargin Collateral Management Platform
London-based CloudMargin, which spotlights its Cloud-based collateral margin management platform, reports that the Cardano Group, a pensions risk-and-investment management specialist, is now employing its platform.
Cardano, which operates in the U.K. and the Netherlands, “turned to CloudMargin as the underlying platform for its collateral management capabilities” that provide a “more automated, secure and connected solution for pension fund clients’ bilateral and cleared over-the-counter (OTC) activity.”
Previously, Cardano offered its own in-house collateral management solution, according to the statement.
The Cardano Group, founded in 2000, is a “privately-owned, purpose-built risk and investment specialist,” per the statement.
New CFTC Chairman Fills Key Posts
Heath P. Tarbert, the new chairman of the CFTC, announced the following appointments of the executive leadership positions at the regulator:
- James M. McDonald will continue to serve as director of the Division of Enforcement;
- Amir R. Zaidi will continue to serve as director of the Division of Market Oversight;
- Joshua B. Sterling will serve as director of the Division of Swap Dealer and Intermediary Oversight;
- Bruce A. Tuckman will continue to serve as chief economist and director of the Office of the Chief Economist;
- Michael C. Short will serve as director of the Office of External Affairs and Chief Communications Officer;
- Sarah J. Summerville will continue to serve as director of the Office of Minority and Women Inclusion.
Tarbert, who will make additional staff announcements later, also announced that Sarah Josephson will serve as acting director of the Division of Clearing and Risk, Ann Wright will serve as acting director of the Office of Legislative and Intergovernmental Affairs, and Mauricio Melara and Tracy Wingate will jointly lead the Office of International Affairs in an acting capacity, officials say.
In addition, Tarbert will propose to the CFTC the reappointment of Daniel J. Davis as general counsel, and Anthony C. Thompson to continue serving as executive director, officials say.