In other news, Wolters Kluwer adds ESG to TeamMate+, SIX offers access to 100 green bonds & JSE works with “big xyt.”
Socium to Manage Portfolios & Ops via Sentry
A private equity and private credit fund administrator, Socium Fund Services reports that it has deployed the Sentry loan portfolio management technology solution from Broadridge Financial Solutions, a post-trade systems, services, and applications provider.
Socium will use the Sentry system “to more efficiently manage complex private credit loan portfolios and scale its middle- and back-office operations,” officials say. Socium Fund Services is a Suntera Global Company.
“We’re strengthening our technology infrastructure and building on our deep technical expertise in managing complex private credit portfolios on behalf of our clients,” said Jason Meklinsky, chief revenue and strategy officer, Socium Fund Services.
The Sentry solution can be used to manage a “multitude of loan varieties and integrated workflow solutions,” and will help Socium deliver services to its “growing private credit client base,” officials say.
In particular, the Sentry solution is intended to bring “greater accuracy and transparency to the private lending process” and offers front-to-back-office functions intended to improve efficiency, officials say.
The web-based solution “captures, calculates and analyzes the borrower’s KPIs, monitors the pipeline, improves credit selection, and creates reusable covenant rules,” officials say. “Besides managing day-to-day loan administration, Sentry allows users to monitor compliance issues and reconcile and aggregate data.”
Socium “offers customized middle and back-office solutions to institutional managers with a consultative service approach,” officials say.
Wolters Kluwer Adds ESG Reporting Access to TeamMate+
Wolters Kluwer Corporate Performance & ESG (CP & ESG) has added access to “essential environmental, social, and governance (ESG) reporting standards” to TeamMate+ so that auditors can provide assurances about ESG reporting, company officials say. TeamMate+ is a cloud-based system.
“By enabling access to ESG reporting standards and frameworks, such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), EU Taxonomy, and the Task Force on Climate-related Financial Disclosures (TCFD), within the TeamMate+ environment, auditors are now able to accelerate ESG audits to lead assurance efforts for corporate ESG reporting,” according to Wolters Kluwer officials.
“Our nearly 30-year long relationship with internal audit professionals across industries and regions continues to help us identify the critical needs and capabilities required by our customers,” says Frans Klaassen, senior vice president and general manager, Wolters Kluwer TeamMate, in a prepared statement.
“The impact of evolving strategic business planning, investor pressure, and rapidly developing regulatory requirements is encouraging organizations worldwide to implement ESG reporting based on a variety of frameworks and standards,” says Jim Pelletier, senior product manager, Wolters Kluwer TeamMate, in a statement.
SIX Swiss Exchange Offers Access to 100 Green Bonds
Interest in green bonds in Switzerland “continues to gain momentum,” and the SIX Swiss Exchange offers access to more than 100 greed bonds, according to officials at SIX.
“Today, there are more than a hundred green bonds with an aggregated equivalent nominal amount of CHF 28 billion listed and/or admitted to trading on SIX Swiss Exchange, up from around sixty at the end of 2021,” SIX officials say.
“Approximately half of these green bonds are from Swiss issuers, and 91 percent are denominated in Swiss Francs. Main issuers are banks (36 percent of the green bond issuances), real estate companies (16 percent), sovereigns, cantons, provinces and cities (12 percent), transportation companies (9 percent) and supranational bodies (6 percent),” according to SIX.
“The appetite for green bonds has grown exponentially in recent years. Their proceeds are being used for green or climate-related purposes. The reason for the rise is that investors are increasingly taking ESG (environmental, social, governance) factors into account when putting together their portfolios,” says Christian Reuss, head SIX Swiss Exchange, in a prepared statement.
Globally, green bonds worth more than USD 2.3 trillion have been issued to date, according to the Climate Bonds Initiative, SIX officials add. “Switzerland is no exception. The green bond market here has grown strongly over the past twelve months,” Reuss says.
“SIX automatically flags bonds on its website that are included in the Climate Bonds Initiative’s Green Bond Database and comply with the Green Bond Principles of the International Capital Market Association (ICMA) headquartered in Zurich — the world’s leading voluntary green bond framework,” according to SIX. “This designation helps investors by allowing them to quickly get an overview of green bonds in the Swiss market without having to review individual securities.”
JSE Launches Joint Venture with ‘Big xyt’
The Johannesburg Stock Exchange (JSE) and “big xyt,” a smart data and analytics solutions vendor have launched “big xyt ecosystems,” which will offer the web-based Trade Explorer data analytics solution to global trading venues, officials say.
The trading venues could use the data analytics solution to create new revenue streams, officials say.
“Trading venues can rapidly realize additional revenue streams by leveraging their unique datasets without making heavy investments in new technology,” says Robin Mess, CEO and co-founder of big xyt, in a prepared statement.
“For market participants, this offers greater accessibility to data analytics for firms of all sizes as there is no longer the need to develop such capabilities in-house,” Mess says.
The Trade Explorer platform “enables trading venues to distribute data analytics solutions to their information services customers, including the trading firms, issuers and investors that comprise a finance ecosystem. The solutions are delivered directly to end users through web hosted services under the branding of a sponsoring venue, meaning rapid time to market and low cost of ownership,” officials say.
Trade Explorer offers analytics tools to help users “understand market liquidity and flows, market share, business concentration, and execution performance. It also delivers tools for analyzing trading patterns and for pre-trade decision support. The new company will also offer DataShop and private cloud functionality to help trading venues promote their unique data sets,” officials add.
“All trading venues understand the need for a market data business adjacent to the core mission of providing high quality markets. Innovative data analytics solutions form a major component of the future growth in this multi-billion dollar sector,” says Leila Fourie, CEO of JSE Group CEO, in a prepared statement. “big xyt ecosystems will empower our peers in other financial centers to develop this opportunity.”
The JSE offers a range of securities, “spanning equities, derivatives, and debt markets,” officials say. “The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalization, and is the largest stock exchange in Africa, having been in operation for over 134 years.”
More information about the joint venture is available here: https://big-xyt-ecosystems.com/
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