In other FinTech news, AcadiaSoft partners with Capitalab, Cutter Associates is acquiring MyPrivateBanking and IHS Markit opens thinkFolio to a managed FIX Network.
Two Key Players Take On Corporate Bond Liquidity
MTS Markets International, part of London Stock Exchange Group (LSEG), and BondCliQ, a corporate bond market data solution vendor, are launching Liquidity Mapping for BondCliQ’s BondTiQ platform to give end-users views of pre- and post-trade information on U.S. corporate bond liquidity, officials say.
The new mapping “combines MTS BondsPro’s comprehensive real-time pricing information with BondTiQ’s data visualization technology and TRACE data,” officials say. “The new tool provides a multi-dimensional interface that supports execution requirements by allowing users to identify sources of liquidity effectively and quickly assess fair value according to the quoted MTS BondsPro market.”
The market data from MTS BondsPro is sourced from more than 500 broker-dealers and buy-side clients “participating in its anonymous all-to-all order book. The platform connects markets across the U.S., Europe and Asia with a 22-hour trading day, providing traders access to over 20,000 bonds with live prices daily,” according to MTS officials.
“In today’s market, liquidity is fractured and securing the best price can be a complex challenge. Through this partnership, we are making liquidity visible and allowing traders to understand liquidity flows and identify the right opportunities. MTS BondsPro offers deep, real-time trade data into close to 20,000 US corporate bonds, making them the perfect partner to provide the data to power this innovative tool,” says Chris White, CEO at BondCliQ, in a prepared statement
AcadiaSoft & Capitalab Partner for IM Optimization
AcadiaSoft Inc., a provider of risk and collateral management services for purveyors of non-cleared derivatives, reports that it is collaborating with Capitalab, a division of BGC Brokers L.P., for the provision of their initial margin (IM) optimization service.
The Capitalab IM optimization service for clients calculating IM, designed to optimize exposures, resulting in lower margin payments and reducing capital funding requirements, is scalable to meet increasing numbers of products and participants, AcadiaSoft says.
Clients can set their optimization constraints, for variables such as counterparty risk, market risk, and credit support annex, or CSA, terms, with the service facilitating straight-through processing, per AcadiaSoft.
“Optimization services meet an important need for the derivatives market, as firms posting IM seek to reduce costs,” says Fred Dassori, head of strategic development at AcadiaSoft, “and the relationship with Capitalab allows us to provide even more options via the AcadiaSoft Hub.”
Cutter Associates Acquires MyPrivateBanking
Cutter Associates, LLC, a specialist in investment operations consulting and research, has acquired MyPrivateBanking, a Zurich-based wealth management research firm.
The MyPrivateBanking research and content library, which provides customized reports and trends benchmarking within the wealth management industry, will be absorbed into Cutter Associates’ wealth management research and insights.
Cutter Associates, founded in 1998 and headquartered in Hingham, Massachusetts, launched Cutter Wealth to provide research and consulting to wealth management firms making decisions regarding their technology and operations models.
Cutter will be integrating the MyPrivateBanking analyst staff in its operations, the firm says. The Cutter Wealth group is led by industry veteran Gina McCafferty.
IHS Markit Expands thinkFolio with Managed FIX Network
IHS Markit, a specialist in the provision of information, analytics and solutions, reports the launch a new service that administers FIX connectivity for asset managers.
FIX is more formally known as the Financial Information eXchange Protocol, and it is meant to enable pre-trade, trade and post-trade equities trading.
The new offering enhances the managed service version of thinkFolio, the firm’s order management and portfolio modeling service, IHS Markit says.
Together, thinkFolio and the FIX network service give asset managers a comprehensive, hosted OMS and trading connectivity solution, according to IHS Markit. The service incorporates the NYFIX solution from Itiviti, which connects more than 1,500 trading partners via a global, low-latency network, per IHS Markit.
“We are combining the robust NYFIX trading hub with our technology expertise to offer a fully managed service that facilitates direct, reliable communication between our buy-side customers and their brokers,” Spiros Giannaros, global head of thinkFolio and enterprise data management at IHS Markit, says in a statement. “Working with Itiviti and other premium partners is part of how we are enhancing our thinkFolio managed service offering and responding to growing buy-side demand for comprehensive, cloud-based investment management platforms.”