Nasdaq Inc. is acquiring Verafin, based in Canada, and its set of related “anti-financial crime management products.” These related products use “data analytics, machine learning, and visualization and investigation tools.” The Nasdaq platform itself is widely known as the first electronic exchange, and the goal of this acquisition, according to a statement, is to deploy… Read More >>
Apifiny Launches Blockchain-based Settlement Network
‘Roxe’ Pitched as a New Way to Clear & Settle Apifiny, a San Francisco-based global transfer network services provider, has officially debuted a settlement network based on blockchain technology, dubbed Roxe, that has been designed for “instant global clearing and settlement of payments and remittances, traditional assets, and digital assets,” according to the vendor…. Read More >>
Why StatPro Agreed to the Confluence Takeover
StatPro’s board of directors announced late last week that it had agreed to a takeover offer from Confluence via Bidco in an all-cash agreement of approximately £161.1 million ($201.3 million). The deal will take the company private — apparently in an effort to give customers fuller product platforms via a combined company. To recap, StatPro… Read More >>
Apex Group to Use GoldenSource’s Services
Apex Hoping SaaS Solution Will Help Growth Fund administrator Apex Group Ltd., touted as the world’s fifth largest fund administrator, has signed on to use GoldenSource’s its centralized pricing and reference data services, officials say. Apex will use GoldenSource’s enterprise data management (EDM) software-as-a-service (SaaS) solution to improve operating and cost efficiencies “through the standardization… Read More >>
Deutsche Bank Sends Collateral Management to the Cloud
In what appears to be a first for a Tier 1 bank, Deutsche Bank is moving its management of margin calls with counterparties to a public cloud-based service as part of an effort to cut costs and operational risk while simplifying a key process. The German banking giant will be revamping this “critical piece of… Read More >>
CRD Partners with AcadiaSoft & Expands Liquidnet Alliance
Charles River Development (CRD) will be working with AcadiaSoft via a new business alliance and expanding its partnership with Liquidnet — its first major industry moves since its acquisition last year by custodian giant State Street Corp. for $2.6 billion. When CRD was acquired in October 2018, the combined companies announced that they would build… Read More >>
Brevan Howard Uses AcadiaSoft for IM Management
A Major Buy-Side Firm Embraces AcadiaSoft’s IMEM AcadiaSoft, a provider of risk and collateral management services for the non-cleared derivatives market, reports that Brevan Howard has been added to the users of AcadiaSoft Hub’s Initial Margin Exposure Manager (IMEM). As one of the first buy-side firms that falls within the scope of Phase Three of… Read More >>
Duco Launches Hybrid Cube & Creates Services Division
Post-trade solutions vendor Duco is moving into its next chapter with the launch of a hybrid, Software-as-a-Service (SaaS) version of its flagship Duco Cube offering, and the creation of a global services division with its own new vice president. The new hybrid SaaS version of Duco Cube was created to target global banks that want… Read More >>
Speakerbus Partners with Westcon for EMEA Distribution
Speakerbus Expects Deal to Boost Growth Speakerbus, a specialist provider of voice solutions, has signed an agreement with Westcon Group, a distributor of products and professional services for converged telecommunications solutions, to distribute Speakerbus’ offerings in the EMEA region, say Speakerbus officials. The partnership is expected to help Speakerbus grow. Speakerbus offers “advanced telephony, hoot… Read More >>
Oppenheimer Consolidates Platforms via VestmarkONE
Investment manager Oppenheimer & Co. recently began consolidating the firms’ many platforms with the help of vendor Vestmark, a move the firm says will help it get a handle on its disparate IT systems. Vestmark offers platform consolidation system via a software as a service (SaaS) implementation, officials say. Bryan McKigney, Oppenheimer’s president, says the firm… Read More >>
