FTF News also reports on the FinTech announcements from Broadridge, SWIFT and AQMetrics.
Vendors to Target Global Compliance for Social Media
Actiance, a digital compliance, archiving, and analytics vendor, has signed a global partnership with Hootsuite, a social media management platform provider, to offer a comprehensive compliance solution for financial services firms.
The partnership will combine Hootsuite’s platform with Actiance’s Socialite offering for compliance across public social networks, and Actiance’s Alcatraz, a context-aware, cloud-based archive, officials say.
Ultimately, the agreement will allow these companies to integrate their products and provide capabilities for social marketing, archiving, and compliance solutions that will help clients meet the regulatory guidelines of U.S. regulators FINRA and the SEC, the Investment Industry Regulatory Organization of Canada (IIROC), a self-regulatory organization, the U.K.’s Financial Conduct Authority (FCA), the E.U.’s General Data Protection Regulation (GDPR) and MiFID II.
Specifically, the vendors will integrate and co-sell a solution for content moderation, automated archiving, publisher notifications and moderation on LinkedIn, Facebook, and Twitter, officials say.
Broadridge Wins Deal with Jabre Capital
Jabre Capital Partners, a global multi-strategy asset manager, will be using the integrated order management, portfolio management, and risk management solution from Broadridge Financial Solutions to help manage front, middle and back-office operations, according to officials.
Jabre officials conform that they will deploy the Broadridge platform to manage its multi-asset funds, which includes capabilities to meet pre- and post-trade compliance requirements.
The installation will include connectivity to brokers and execution management system (EMS) platforms, and support for portfolio management and reporting. Jabre will also have access to market and credit risk analysis through Value at Risk (VAR) and stress testing scenarios, officials add.
“We were seeking to replace our existing, locally installed systems with a new robust infrastructure that facilitated order management, portfolio management and risk management in a single platform,” says James Cleary, chief operating officer (COO) at Jabre Capital, in a prepared statement. The firm wanted a scalable and flexible solution.
“Having done extensive due diligence in searching for the right solution, we found that the Broadridge service met these criteria and offered a comprehensive set of functions and reporting that we needed through a single platform, while also reducing operational risk and increasing cost efficiency across our business,” Cleary says.
SWIFT to Support FX Global Code Principles
Financial messaging cooperative SWIFT has announced “full support of the FX Global Code issued today [May 25] by the Bank for International Settlements (BIS),” officials confirm.
There will also be an alignment between SWIFT services and the FX Global Code.
“SWIFT customers can therefore be confident that their FX market activities are fully aligned with the principles of the Code,” SWIFT officials say.
Earlier this month, BIS issued is a set of global principles of good practice in the foreign exchange market. “It has been developed by a partnership of central banks and market participants from 16 jurisdictions to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market,” SWIFT officials say. “The Code is expected to be adopted across the entire FX market, including the sell-side, buy-side, non-bank participants and platforms.”
BIS officials have also provided a draft Statement of Commitment for firms to publicly demonstrate their adherence to the code “as it is believed that firms are more likely to adhere to the Code if their peers are doing so too,” says SWIFT. “To help market participants make a Statement of Commitment SWIFT has published an analysis that identifies those sections of the FX Global Code relevant for the use of SWIFT services.” More information is at http://bit.ly/2r6ke0e
AQMetrics Announces Three Client Wins
Regulatory technology vendor, AQMetrics, reports that it has added three firms to its client roster: Alcova Asset Management, Colchis Capital Management and Hibernia.
“The addition of these three firms represents AQMetrics’ growing reach across various sectors in the financial services industry,” according to the vendor. “Alcova is a multi-strategy quantitative hedge fund based in London. Colchis Capital is a leading investment management firm based in San Francisco and focused on specialty finance lending. Hibernia REIT plc is a Dublin-focused real estate investment trust listed on the Irish and London Stock Exchanges.”
The addition of Colchis “reaffirms our growing stateside presence,” says Ryan Kipp, head of sales, Americas, at AQMetrics, in a prepared statement.
Citing the accepted methods of managing risk and compliance as “slow, outmoded, and inefficient,” AQMetrics built a platform to help clients “leverage technology to more efficiently meet regulatory obligations,” vendor officials say.
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