Our free, FinTech roundup includes items about LedgerX, BNP Paribas, BondCliQ & thinkFolio, SS&C, CACEIS & FIS, and Skience.
Vincent Him Joins Gresham
London-based reconciliation vendor Gresham Technologies has tapped competitor SmartStream Technologies to fill a senior European sales position, underscoring its international growth efforts, officials say.
Gresham has hired Vincent Him to be sales director for Europe, and he has nearly 25 years of experience across the post-trade reconciliations industry. In addition to his time at SmartStream, Him previously held senior sales positions at another reconciliation rival, Duco.
In his new role, he will be “the driving force” behind Gresham’s growth strategy across Europe following the vendor’s first-half of 2020 results, according to officials. The vendor announced an 18 percent increase in Clareti annualized recurring revenue (ARR), which was £10.7 million ($14.2 million), and “a significant new Clareti tier 1 bank win.”
Clareti is the vendor’s enterprise-wide reconciliation and data processing software platform intended to help financial services firms with financial control, risk management, data governance, and regulatory compliance problems, officials say.
“At Gresham, Vincent will be responsible for growing existing customer partnerships and winning new transformation opportunities among banks, asset managers and capital markets firms across the entire Clareti suite of products and services, enabling users to validate, reconcile and report complex data in real-time,” according to a Gresham statement.
LedgerX Adds Clearing Services Beyond Bitcoin
LedgerX, a Bitcoin exchange and clearinghouse, will no longer be limited to clearing digital currency products as the CFTC just approved its bid to provide clearing services for fully-collateralized futures and options on futures, which is in addition to a previous authorization for swaps, officials say.
The CFTC approved an amended order of registration that authorizes LedgerX to clear the additional products, subject to the terms and conditions specified in the order, and makes LedgerX a derivatives clearing organization under the Commodity Exchange Act, officials say.
Based in New York City, LedgerX, a Delaware limited liability company is also registered with the CFTC as a designated contract market and swap execution facility (SEF).
BNP Paribas Appoints Head of Structuring Americas
BNP Paribas reports the appointment of Sarah Wang as head of structuring for the Americas. Her mandate includes “heading the structuring teams across business lines. She will help drive a holistic, strategic dialogue with clients and deliver value-add solutions and financing,” according to the bank’s statement.
Previously, Wang “worked at Barclays for 16 years,” the statement continues, “most recently as Head of Securitized Product Solutions Structuring in the US.”
Before Barclays, Wang “worked in structuring at Deutsche Bank and Lehman Brothers,” the BNP Paribas statement notes.
BondCliQ Data to Be Added to thinkFolio
IHS Markit is partnering with BondCliQ to add U.S. corporate bond pricing content and interactive functions to the multi-asset investment management platform, thinkFolio from IHS Markit.
“The collaboration will provide click-to-view, consolidated, pre-trade, institutional quote data from 34 dealers, and post-trade, normalized, analytics-enriched TRACE data directly within thinkFolio’s modular screens,” according to officials.
The BondCliQ’s consolidated quote display of centralized, institutional pricing data is offered to buy-side institutions and sell-side dealers,” officials add. “When combined with thinkFolio’s order and execution management workflows and connectivity footprint, BondCliQ’s pre- and post-trade content will provide pre-trade liquidity insight for securities of interest and aid in further demonstrating best execution to regulators and institutional clients.”
SS&C Names MD for Mergers & Acquisitions
Windsor, Conn.-based SS&C Technologies Holdings, Inc. reports that Frank Egan has joined as a managing director to oversee mergers and acquisitions.
He will report to Bill Stone, the firm’s chairman and chief executive officer.
Egan joins SS&C from Lake Bridge Capital Ventures, where he was managing partner, according to a statement, which also notes that he has “more than 35 years of experience in investment banking and venture capital,” including tours at Northwater Capital Management, Draper Fisher Jurvetson ePlanet Ventures, Paine Webber, Kemper Securities, and Dain Rauscher Wessels.
CACEIS to Use FIS Platform for International Payments
Financial technology vendor FIS recently signed a long-term agreement with European asset servicing firm CACEIS will use the FIS Open Payment Framework (OPF) to comply with ISO 20022 and cross-border payment regulations, officials report.
CACEIS, which is owned by Credit Agricole S.A. and Santander, will us the FIS framewrok to streamline payment operations and reduce processing costs, officials say.
The firm will use the OPF real-time payments platform to support Single Euro Payments Area (SEPA) credit transfer, direct debit and instant payments, SWIFT gpi, and high-value payment standards, officials say.
CACEIS has custodial assets of € 3.9 trillion, offers execution, clearing, securities lending, custody and fund services to asset managers and institutional and corporate clients worldwide, officials say.
Skience Picks a President & COO
Herndon, Va.-based Skience, which characterizes itself as a provider of financial and consulting services, reports the appointment of Marc Butler as president and chief operating officer (COO).
Butler is to “oversee the company’s business and technology teams,” according to a Skience statement.
Butler is a 25-year wealth management and financial technology veteran, the Skience statement observes, adding that, before joining Skience, he “held a series of leadership roles at BNY Mellon/Pershing.”
Most recently, he served as COO and managing director for BNY Mellon/Albridge, officials add.