In other FinTech news, AllianceBernstein will be working with Algomi and Linedata updates a key offering to meet EMIR requirements.
ANNA Subsidiary Conducts Industry Outreach
A subsidiary of the Association of National Numbering Agencies (ANNA) has gathered feedback on developing over-the-counter (OTC) International Securities Identification Number (ISIN) attributes in order to ease MiFID II reference data reporting.
ANNA serves as the registration authority for the ISIN under appointment by the International Organization for Standardization (ISO), officials say. The effort is run by the product committee of ANNA’s Derivatives Service Bureau (DSB) subsidiary, which just completed a second industry outreach via a consultation paper.
The paper, which proposes a structure of attributes for the fixed, float, plain vanilla interest rate swap product definition, poses questions in four areas:
- Adequacy or appropriateness of the proposed definition structure;
- Potential usefulness or requirement for additional attributes;
- Correlation with the work of CPMI-IOSCO in development of the Unique Product Identifier (UPI) standard for OTC derivatives;
- And the impact of the definition of Tradeable on a Trading Venue (ToTV) and Underlier Tradeable on a Trading Venue (uToTV) on the ISIN granularity.
The DSB Product Committee is responsible for ratifying ISIN definitions for OTC derivatives products. The consultation paper is available for download at the DSB PC Consultation at http://bit.ly/2rnF1Jw
The deadline for submissions and feedback was May 12, which will be followed by “a series of further consultations during the subsequent months that will cover the full range of product definitions in each asset class,” officials say. Further queries should be directed to secretariat@ANNA-DSB.com
Ultimately, responses will be “published with attribution of respondents unless anonymity is requested,” DSB officials say.
Algomi to Acquire ALFA Tool from AllianceBernstein
Algomi, an information-matching solutions provider for fixed income liquidity, announced that it will acquire and distribute the Automated Liquidity Filtering and Analytics (ALFA) product created and developed by AllianceBernstein, officials say.
ALFA was developed as “an in-house liquidity tool by AB,” officials explain. “It provides cross-market information on liquidity and trade intent in order to give the buy-side a real-time view of the entire bond market including government bonds, investment grade, high yield, emerging market, municipal debt, and structured credit,” officials say.
AB selected Algomi after a competitive search process “to acquire and become the sole marketer of the product, now called Algomi ALFA,” officials say. “It will be sold to fund managers across the buy side, allowing them to consume data from electronic venues, messaging platforms and direct dealer inventory feeds. Algomi’s focus on data technology solutions remains unchanged and was a key factor in AB’s selection process, further emphasizing Algomi’s agnostic stance on mode of execution channel.”
To protect individual client data integrity and ownership, ALFA clients will “procure and own their own hardware via an approved cloud provider and Algomi will then install and deploy the ALFA software thereby maintaining Algomi’s role as a pure software vendor,” officials say.
In addition, Algomi has acquired the intellectual property (IP) and technology behind ALFA as well as the brand name, officials say. AllianceBernstein is also taking an undisclosed minority stake in the company and a seat on the Algomi board of directors.
Linedata Updates Global Hedge Platform
Investment management systems vendor Linedata has unveiled an updated version of its portfolio management system, Linedata Global Hedge, to include an improved trading and order management module, more specific asset class coverage, increased compliance-related elements around disclosure and reporting and workflow and user experience (UX) enhancements, officials say.
The Linedata Global Hedge also offers features for different asset classes, including enhanced fixed income functionality, officials say.
“Alongside expanded unit traded bond calculations, the new release also provides enhanced support for emerging market bond conventions, addressing greater investor interest in emerging market debt as an asset class,” officials say.
The enhancements are intended to help firms comply with “increased reporting and disclosure requirements, for example under the European Markets Infrastructure Regulation (EMIR), through improvements to swap schedule management and lifecycle tracking,” vendor officials say.
“The new release also extends the ability of clients in Asia to meet changing requirements around short position reporting recently updated by the Securities and Futures Commission of Hong Kong, by automatically flagging those positions requiring disclosure,” officials add.
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