In other news, Riskalyze has a new partner, UnaVista pays a fine, HKEX has a new MD, and MarketAxess launches a link to a key Chinese market.
Berkeley Heights Is Site of New Fiserv Campus
Payments and financial technology vendor Fiserv is expanding its presence in New Jersey via a new location in Berkeley Heights that will bring approximately 2,000 jobs to the area, officials say.
“The planned Fiserv campus will serve as a strategic center of excellence for technology and product innovation. The innovation lab will specialize in designing use cases around the future of banking, money movement, and commerce,” accoring to Fiserv.
“Partners from fintechs, merchants, and financial institutions will use the center to innovate with Fiserv to jointly create seamless, simple, and meaningful experiences for consumers and businesses,” Fiserv officials say.
“The hub will be one of the largest on the East Coast … The majority of the new jobs will be technology-related roles, and all will be based in a new Fiserv campus at The Park in Berkeley Heights,” officials say. ”Fiserv also will partner with local universities including Rutgers University-Newark to create programs and opportunities for their students and graduates.”
The new campus at 100 Connell Drive includes 428,000 square feet of space in a single four-story building, officials say. The location will accommodate approximately 3,000 Fiserv associates in total, and will include social work zones, wellness amenities and culinary programming to create a superior workplace environment.
Overall, Fiserv has more than 40,000 associates operating in more than 100 countries, officials say. — EMG
Riskalyze & Onramp Invest Form Partnership
Riskalyze, which provides risk alignment and portfolio analytics technology, reports that it has formed a partnership with Onramp Invest, which offers crypto-asset-integration-as-a-service for financial advisors.
Onramp Invest also offers crypto-asset education to financial advisors, the company says.
For Onramp Invest, this will be the first risk management integration since the company’s official launch in May, officials say.
“As we have been building out our capabilities on the platform, we are creating the interstate between advisors and the information and resources they need to better understand and advise their clients about cryptoassets,” Tyrone Ross, Jr., Onramp’s CEO, says in a statement. — L.Ch
ESMA Fines UnaVista for Alleged EMIR Data Breaches
E.U. regulator for securities trading, the European Securities and Markets Authority (ESMA) has fined trade repository UnaVista €238,500 ($276,713.61) “for eight breaches of the European Market Infrastructure Regulation (EMIR)” reporting regime, officials say.
“The breaches relate to failures in ensuring the integrity of data and providing direct and immediate access to regulators. The breaches, committed between 2016 and 2018, were found to have resulted from negligence on the part of UnaVista,” alleges ESMA.
ESMA officials say that UnaVista’s data integrity failures included incorrect field ordering logic, incorrect mapping rules, and crossed date boundaries.
ESMA’s action “emphasizes the importance ESMA places on trade repositories complying with their obligations on data integrity and regulatory access,” says Anneli Tuominen, interim chair for ESMA, in a prepared statement. “The provision of timely and accurate data to CCP [central clearing counterparty] and derivatives markets supervisors is an essential requirement in facilitating the monitoring and identification of systemic risk in E.U. derivatives markets.”
“UnaVista has identified and resolved the issues highlighted in ESMA’s announcement,” a spokesperson for the London Stock Exchange Group (LSEG), owner of UnaVista. “At no time was any customer’s compliance or data impacted as a result of these issues. We continue to work closely with our regulators to ensure resilience and continuity of service to our customers and partners. We are committed to providing the best service possible for our customers.” — EMG
HKEX Names Head of Management Reporting
Hong Kong Exchanges and Clearing Ltd. (HKEX) reports the appointment of Anthony Crampton as managing director, head of management reporting and facilities management.
His mandate includes helping oversee the group’s management reporting and helping it make “better-informed decisions,” according to an HKEX statement.
Crampton will also oversee the facilities management activities, helping to “ensure the functionality, comfort, safety and efficiency” of the offices and facilities, “aligning our people, processes and technology within our real-estate portfolio.”
He will take his new post on November first and will report to Vanessa Lau, the group’s chief financial officer (CFO).
He joins from the Hong Kong Jockey Club, where he was director of corporate finance. — L.Ch
MarketAxess Links to China Interbank Bond Market
MarketAxess Holdings Inc., which operates an electronic trading platform for fixed-income securities and provides market data and post-trade services for fixed-income markets, reports the launch of a new trading channel for its investors to access the China Interbank Bond Market (CIBM).
Access is via the connection between the China Foreign Exchange Trade System and MarketAxess Holdings Inc. under the Bond Connect and CIBM Direct schemes, in partnership with the China Foreign Exchange Trade System and Bond Connect Company Limited, MarketAxess says in a statement.
Investors on MarketAxess are now able to trade onshore Chinese bonds through a single trading interface, the provider points out.
Additional information about the MarketAxess China offering is available at its website. — L.Ch