In other news, Corlytics buys SparQ, Pico expands VoIP Analytics, and FactSet works with LightPoint Financial.
New Services Offered via BNY Mellon Capital Markets
BNY Mellon is targeting buy-side firms with a new outsourced, multi-asset, global trading service that the custodian bank says will help clients cut spending on data, trading infrastructure, analytics, reporting, and associated trade execution support functions.
With asset managers and asset owners also in mind, the new service via BNY Mellon Capital Markets, LLC, will be supported by xBK, “the buy-side trading division that executes more than $1 trillion in volumes on average annually for the company’s Investment Management franchise (one of the world’s largest asset managers),” according to BNY Mellon officials.
Officials add that the outsourced trading service offers buy-side clients:
- The capability to move into new asset classes and regions;
- Automation and a systematic workflow;
- Access to BNY Mellon’s portfolio of services across front, middle and back-office functions;
- A way to refocus on core competencies and alpha-generating activities.
BNY Mellon can also offer data science capabilities that leverage “quantitative insights to fine-tune execution strategies, reduce transaction costs and execute trades within a risk-controlled framework,” officials say.
Corlytics Acquires SparQ from ING Group
Corlytics, a self-described risk intelligence and analytics vendor, is acquiring ING SparQ to push more “digitalization across the regulatory change lifecycle,” which should help firms update and enforce internal policies and controls in real time, officials say.
Dutch banking giant ING Group, based in Amsterdam, The Netherlands, developed SparQ, which is a software solution that helps firms identify and implement “external regulation more efficiently within financial services organizations,” officials say.
“The deal positions Corlytics for a new phase of ambitious growth,” Corlytics officials add. “The addition of SparQ to the Corlytics technology stack brings financial services organizations the ability to identify new regulations or threats, construct robust controls around monitoring and oversight, and ensure appropriate policies are in place, end-to-end.”
The acquisition will yield “a unified platform to automate, deliver and prove compliance. This deal sets the runway for further strategic acquisitions and is a clear signal of our ambitious program of managed growth,” says John Byrne, CEO of Corlytics, in a prepared statement.
ING spun out SparQ in 2018 after development via the ING Compliance and Legal departments, and after it went into production and had a global roll-out. “Corlytics has partnered with ING on SparQ since 2018,” officials say.
Corlytics, via SparQ, “supports ING businesses globally with regulatory information and risk data to 550 ING users across the bank, including risk, compliance, finance, regulatory affairs and legal departments,” officials add.
“Corlytics became a key partner in 2018 and it is fitting that, after the global roll-out internally, the next stage of SparQ’s journey will be with the company that can bring its development to the next maturity level of being an industry-wide leading platform. We look forward to collaborating more intensively with Corlytics in this ongoing development,” says Rein Graat, chief compliance officer for ING, in a prepared statement.
Pico Expands Monitoring Capabilities of VoIP Analytics Product
Pico, a provider of technology services, software, data and analytics, reports that it has updated its Corvil VoIP Analytics, improving its ability to capture and decode timestamped data and apply the data to voice-over-IP applications, officials say.
“Corvil VoIP Analytics takes the ability to capture and decode lossless granularly timestamped data at 100GB and applies it to VoIP applications,” officials say.
The new features and functions are:
- The new Corvil 10000 can monitor 100G networks and analyze 20,000 simultaneous calls;
- A new waveform analysis capability uses machine intelligence to analyze voice quality on thousands of simultaneous calls — coming in 2023;
The Cloud VoIP Analytics function to come is in beta test mode and “will be available for AWS [Amazon Web Services] deployment in Q1 2023,” officials say.
FactSet Collaborates with LightPoint Financial
FactSet, a provider of financial data, analytics and enterprise solutions, is collaborating with LightPoint Financial Technology to offer hedge funds, institutional asset managers, and family offices “a fully integrated front-to-back solution with greater data flexibility,” officials say.
“By combining LightPoint’s portfolio, order, and execution management system (POEMS) with FactSet’s data solution, investment managers can reimagine their trade and order workflows and improve on operational efficiencies when evaluating or executing on trading opportunities,” officials say.
LightPoint helps buy-side firms and family offices revamp trading and operations via software-as-a-service (SaaS) solutions “managed from a single position source,” officials say.
Specifically, the new integration will enable clients to “gain access to consolidated, real-time and delayed data from over 300 global exchanges and data venues along with reference data across all major asset types within the LightPoint application,” says Jonathan Reeve, head of content and technology solutions at FactSet, in a prepared statement.
“Ancora, a leading family and investment management office, already runs the joint solution and managed to lower its total cost of technology ownership while enabling the firm to scale to its fullest potential,” officials say.
“By allowing them flexible access to view FactSet-controlled, real-time market data within their applications, they can capitalize more efficiently than previously on event-driven strategies,” says Lauren Turkisher, chief operating officer, (COO), at Ancora Alternatives, LLC, in a statement.
The collaboration expands LightPoint’s market data capabilities “and gives our clients more options for selecting data providers that align with their investment needs,” says Bobby May, co-founder and chief development officer for LightPoint Financial Technology. “FactSet’s market data and analytics are a key component of our applications.”
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