In other news, TS Imagine & Kayenta partner, DTCC blesses Torstone’s Middle Office, and Wolters Kluwer works with CCH Tagetik.
TD Securities to Settle Commodities via Paxos
TD Securities is using a system from Paxos that simultaneously settles cash and commodities trades in an effort to achieve full automation for settlement and to streamline operations for traditional and digital precious metals trades, officials say.
TD Securities joins many other firms that are part of Paxos Settlement Service for Commodities. Paxos makes platforms that support the tokenization, custody, trading and settlement of traditional and digital assets.
“Bridging the longstanding gap between cash and asset settlement networks, as well as collecting settlement obligations in a controlled way that mitigates risk, are fundamental elements to creating safe settlement for the commodities market,” says Joe Quinlan, global head of FX and commodities middle office at TD Securities, in a prepared statement.
“Aside from the risk mitigation, joining this settlement network enables us to drive significant benefits to our processes, increasing our overall settlement efficiency,” Quinlan says.
Paxos is “plugging the gap between cash and asset settlement” to reduce credit risk and realize capital efficiencies,” says Anoushka Rayner, head of growth – commodities for Paxos.
The Paxos Settlement Service “also acts as a hub to accommodate all counterparty settlements regardless of whether the counterparty is on the network,” Rayner says. “TD Securities will be able to optimize its commodities business with full automation from post-trade confirmation to final settlement.”
TS Imagine & Kayenta Offer Treasury Link to Hedge Funds
Kayenta, a hedge fund treasury management system provider, is partnering with TS Imagine to “allow hedge fund clients to control their financing relationships across their portfolios” via a multi-asset trading and risk management solution TS One from TS Imagine.
“Kayenta’s technology provides the transparency treasury management teams require … Kayenta extracts market, position and prime broker data and transforms them into actionable insights that enable data driven decision-making,” according to the announcement from T.S. Imagine.
“TS One clients can now access Kayenta’s analytics for a detailed overview of cash and collateral management, liquidity, and cost control services across global, multi-asset, multi-prime portfolios,” officials say. “Kayenta’s technology also enables treasury management teams to automate key data and reporting processes to optimize operational efficiencies.”
“Our partnership with TS Imagine delivers our services to sophisticated investors using TS One – introducing our technology to new audiences and shining a light on traditionally opaque data sets,” says Chris Hagstrom, CEO of Kayenta, in a prepared statement. “Our technology will enable TS One clients to make informed decisions on their prime broker relationships and balance sheet management.”
Torstone’s Middle Office Offering Certified for DTCC’s CTM
Torstone Technology, a software-as-a-service (Saas) provider of post-trade securities and derivatives processing solutions, reports that it has successfully completed certification of its Middle Office product with DTCC’s CTM central matching service, adding to Torstone’s multi-asset workflow offerings, officials say. DTCC’s CTM allocates and centrally matches transactions globally across multiple asset classes.
“As global market participants anticipate the transition to a T+1 settlement cycle in 2024, Torstone’s certification with CTM is timely and crucial, providing the global investment community with automated central matching capabilities and facilitating an accurate and efficient post-trade process to align with the upcoming tighter settlement windows,” officials say.
“By completing the certification process of Torstone’s Middle Office product with DTCC’s CTM service, the Torstone platform is now quicker and cheaper to implement,” according to the official announcement. In addition, Torstone clients will be able to access DTCC’s ALERT system for the maintenance and communication of account and standing settlement instructions (SSI).
“We are delighted to work with DTCC to offer the CTM trade matching service through our platform to our clients in Asia, the Americas and Europe,” says Brian Collings, CEO of Torstone Technology, in a prepared statement.
Torstone offers a software-as-a-service (SaaS) platform for post-trade securities and derivatives processing and risk management.
Wolters Kluwer Adds to Enablon Platform via CCH Tagetik
Wolters Kluwer Corporate Performance and ESG (CP & ESG) officials say that they are integrating ESG reporting and disclosure functions from CCH Tagetik into the Enablon ESG Excellence solution from Wolters Kluwer, officials say.
The new support helps companies “of all sizes to meet Corporate Sustainability Reporting Directive (CSRD), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and other requirements to report and disclose integrated ESG data alongside financial data,” according to Wolters Kluwer.
“Companies of all sizes are now being asked to consistently report their progress toward ESG commitments through a myriad of regulatory frameworks. Most notably, 50,000+ EU-based companies will be mandated to participate in the European Union’s Corporate Sustainability Reporting Directive (CSRD) by 2026,” officials say. “U.S.-based and foreign companies with subsidiaries in the E.U. will also eventually be expected to comply with CRSD disclosure requirements.”
The CSRD will require companies “to integrate their ESG and corporate financial reporting through additional disclosures – and these new ESG disclosures must be auditable, just like financial data,” officials add.
In response to these fast-evolving trends, Wolters Kluwer CP & ESG has now added ESG reporting and disclosure capabilities to its Enablon ESG Excellence solution.
The new functionality combines environment, health and safety (EHS) and ESG data collection and analysis expertise from Enablon ESG Excellence with the CCH Tagetik ESG & Sustainability Performance Management solution.
“In doing so, Enablon ESG Excellence now empowers sustainability and finance leaders to collect and connect operational and ESG data from various enterprise applications, from source to disclosure, in a single solution that supports all ESG-related functions across the enterprise,” officials say.
Enablon ESG Excellence will help clients to:
- Collect, unify, and validate ESG data from 100+ decentralized sources across the enterprise;
- Map ESG data to frameworks and regulations such as CSRD, GRI, and SASB;
- Govern and monitor the ESG process from source to disclosure;
- Collaborate to track ESG performance and develop configurable ESG reports and presentations; and
- Publish auditable ESG disclosures that align with regulatory requirements and the expectations of investors and stakeholders.
