FTF News’ free fintech update includes news from Exchange Data International (EDI), Exegy, Neptune Networks, CME Group, and GTreasury.
FlexTrade Partners with ACA Technology
FlexTrade reports that it has partnered with ACA Technology Solutions to “help mutual clients manage their trade surveillance and compliance needs,” the companies say.
The partnership will make ACA’s Decryptex surveillance technology and FlexTrade’s FlexNOW available to clients, according to the release from the vendors.
“The main benefits of ACA’s surveillance solution include the ability to digest large amounts of trading activity, ensuring coverage under MAR and similar market abuse legislation through comprehensive analysis of a firm’s trading and investment activities and detection of potential fraudulent behavior,” says
Nikolay Kojuharov, partner at ACA Technology, in a prepared statement.
ACA Technology Solutions, a division of ACA Compliance Group, provides “regulatory technology, data management, and investment management technology solutions and consulting services.”
FlexTrade Systems, founded in 1996, specializes in “broker-neutral execution management and order management trading systems for equities, foreign exchange, options, futures and fixed income.” FlexTrade’s FlexNow is an execution management system. It is specifically intended to display market data and transact orders.
EDI Launches Cost Basis Solution
Exchange Data International (EDI), a provider of security corporate actions, pricing and reference data, has unveiled a cost basis solution.
EDI’s Worldwide Equity Cost Basis (WECB) offering will “enable users to track both a security’s cost basis, its evolution and its descendant’s cost basis and evolution up to the current date,” officials say.
“This service allows you to start with a security and end up with multiple securities many years later. Many events can cause changes to the original holding, for example de-mergers and/or distributions will cause your original security to be diversified into many other holdings. The WECB service helps you track these changes and their cost, to help you make your capital gains calculations,” according to EDI.
EDI “is also looking to expand into value-added services. In addition to recently launching an equity analytical service, EDI today launched a verification tool for determining cost basis for all equities worldwide. Cost Basis is an integral requirement for determine capital gains,” says Jonathan Bloch, CEO of EDI, in a prepared statement.
Exegy Offers IMC Feed Handler
Exegy Inc., a managed services and low-latency technology vendor, has added IMC equity liquidity venues to its global portfolio of feed handlers, officials say.
“Exegy clients may now access low-latency market data from the IMC Systematic Internaliser (SI) in Europe and IMC Single Dealer Platform in the United States from Exegy hardware-accelerated appliances,” Exegy officials say.
IMC provides liquidity to financial markets and now trades multiple asset classes on more than 100 trading venues, officials say.
“In 2018, IMC started operating an Electronic Liquidity Providing Systematic Internaliser in Europe, whereby IMC offers liquidity directly to counterparties. In 2017, IMC also launched its Single Dealer Platform (SDP) in the U.S. that allows broker-dealers to interact directly with IMC’s liquidity in both listed single stocks and ETFs [exchange traded funds],” officials say.
CME Group & Neptune Release Composite for Bonds
Neptune Networks Ltd. and exchanges company CME Group report the release of a new composite offering intended to provide clients access to a higher quality representation of the bond market, officials say.
Neptune represents a “consortium of sell-side banks that provide bond market data to buy-side clients,” the company says.
“Our customers are increasingly asking us to deliver data beyond our core markets through CME Group infrastructure to make information access faster and at a lower cost than a bespoke approach,” Adam Honoré, head of data products at CME Group, says in a prepared statement. “We are excited to work with Neptune Networks to deliver a corporate bond composite without the overhead of additional subscriptions or fees.”
The new offering is available “via the Neptune user interface and live on any bond that fits the liquidity and pricing to create the composite,” Neptune notes.
Jemena Goes Live on GTreasury
Jemena, an $11 billion, Melbourne-based company that owns and manages Australian gas and electricity assets, is now live on GTreasury, headquartered in Chicago.
GTreasury characterizes itself as a cloud-based digital transportation-management system (TMS) for treasury management and risk management.
“We wanted one, cloud-based TMS that could handle complex instruments, hedge accounting and compliance, and integrate easily with trading, data and settlement systems,” Jemena Treasury Manager Jean Feng says in a prepared statement.
GTreasury maintains offices in North America, EMEA and APAC, the company says.