In other news, a SocGen unit launches a Euro Stablecoin, Alveo adds an ESG data source, and NICE Actimize embraces A.I.
Broadridge Expands Partnership with Linedata
The NYFIX Matching solution from Broadridge Financial Solutions will be integrated with the Longview order management system (OMS) from Linedata to provide more automation for NYFIX’s middle- and back-office functions, officials say.
To make more automation possible, Broadridge expanded its partnership with Linedata, a provider of asset management and credit technology data services, officials say.
“Post-trade processing is still highly manual and prone to errors, however with NYFIX, Broadridge is able to provide the buy-side with a streamlined post-trade workflow,” says George Rosenberger, general manager of NYFIX, Broadridge, in a prepared statement.
With the new arrangement, Linedata Longview OMS clients will also have access to the post-trade matching capabilities from Broadridge’s NYFIX Matching solution, officials say.
The integration “offers mutual clients an alternative to other trade lifecycle processors,” officials add.
SocGen Unit Launches Euro Stablecoin on Ethereum
Societe Generale–FORGE (SG-FORGE), a subsidiary of Societe Generale group focused on digital assets, has launched the EUR CoinVertible, “a digital asset that purports to maintain a stable value (stablecoin),” officials say. EUR CoinVertible is deployed in Euro denomination on the Ethereum public blockchain (ticker code: EURCV).
“This pioneering project complements SG-FORGE’s business offer to institutional clients seeking to benefit from innovative settlement and cash management solutions. It is designed to bridge the gap between traditional capital markets and the digital assets ecosystem based on the CAST open-source interoperability and securitization framework,” according to SG-FORGE’s announcement.
“EUR CoinVertible has been construed as a ‘digital asset’ (“actif numérique” as defined in Article L. 54-10-1 of the French Financial and Monetary Code) designed to fulfill institutional investors’ expectations,” according to SG-FORGE.
The new stablecoin’s characteristics are:
- a secure legal structure guaranteeing (i) the complete segregation of the collateral assets held to back the value of the stablecoins from the issuer, (ii) with a direct access given to token-holders on the collateral assets, and (iii) the implementation of business continuity plan mechanisms in case of a market or technological event;
- stringent and predefined collateral eligibility criteria (minimum rating, liquidity);
- daily transparency on EUR CoinVertible amount and collateral positions, as well as on the value and composition of the collateral, available on SG-FORGE website;
- a request to assign a credit rating to the EUR CoinVertible made to a leading independent credit rating agency;
- access to EUR CoinVertible limited to investors onboarded by Societe Generale group through its existing compliance procedures (KYC / AML-CFT, etc.); and
- interoperability and compatibility of the EUR CoinVertible with traditional systems and financial practices via its implementation under the principles of the CAST framework, publication of the source code of the EUR CoinVertible’s smart contract under the Apache 2.0 open source license.
Officials add that the EUR CoinVertible, “in accordance with the French legal framework applicable to digital assets,” has been designed to offer clients:
- a robust settlement asset for on-chain transactions;
- an innovative solution for corporate treasury, cash management and cash pooling activities;
- on-chain liquidity funding and refinancing solutions; and
- a solution for intra-day liquidity needs such as margin calls.
“This issuance is a major step in Societe Generale–FORGE’s roadmap to deliver innovative solutions to its clients, either real-money institutions and corporates or entities of the crypto industry, and to facilitate the emergence of new market infrastructures based on blockchain technology,” says Jean-Marc Stenger, CEO at SG-FORGE, in a prepared statement.
“To provide exposure on its product to the largest number of qualified institutional investors, SG-FORGE will work with reputable digital asset exchanges and trusted third-party platforms to have the EUR CoinVertible stablecoin listed in the coming months,” officials say.
Morningstar Sustainalytics ESG Data Now Available via Alveo
Environmental, social, and governance (ESG) content from Morningstar Sustainalytics has been integrated with Alveo’s data management solution, which will help clients integrate ESG data into their business processes, officials say.
“Through the new out-of-the-box integration into Alveo’s data management solution, Morningstar Sustainalytics content can be cross-referenced and linked with client data sets or content sourced from third-party data sources within a client’s business processes,” according to the announcement.
The new integration also offers “fast data onboarding, cross-referencing, complete data lineage to show and track provenance, data governance, and last-mile integration into customer’s workflows and cloud data warehouses,” officials say.
“In Alveo, data can be quickly shaped for last-mile integration into applications such as core banking solutions, portfolio management systems, risk management and regulatory or client reporting,” officials say.
The data that can be onboarded from Sustainalytics “includes its SFDR [Sustainable Finance Disclosure Regulation] data, ESG Risk Ratings, Carbon Risk Ratings and EU Taxonomy information,” officials say. “Alveo customers can easily combine this with other data sets including issuer hierarchy, pricing information, security master data and corporate actions.”
“Financial services firms across the board face new reporting requirements. Asset managers and asset owners have to report portfolio ESG metrics under SFDR and banks will have to report on their loan book composition using the EU Taxonomy. For this they require granular ESG information at the entity level but also at the instrument level as the space of green finance and Green, Social and Sustainability (GSS) bonds is rapidly developing,” says Mark Hepsworth, CEO for Alveo, in a statement.
Alveo offers market and reference data integration from multiple external and internal sources via cloud-based data mastering and data quality/data-as-a-service (DaaS) support. Its services encompass all asset classes, including pricing information, referential information, and ESG, issuer, and corporate actions data, officials say. Morningstar Sustainalytics is an ESG research, ratings and data provider.
NICE Actimize Applies A.I. to AML for SAM-10
NICE Actimize, a provider of financial crime, risk, and compliance solutions, has launched the Suspicious Activity Monitoring (SAM-10) solution, which applies artificial intelligence (A.I.) to anti-money laundering transaction monitoring, yielding analytics to better detect suspicious activity, officials say.
The offering is part of NICE Actimize’s AML suite of solutions and has an entity-centric approach to deliver “data to enrich profiles and multiple layers to segment, monitor, and ensure that only true suspicious activity is identified,” officials say. “With SAM-10, suspicious activity can be intricately understood, accurately monitored, and detected more quickly.”
The SAM-10 also offers analytics “including machine learning for advanced anomaly detection, model optimization, and network risk analytics, detecting suspicious relationships and transaction patterns accurately,” officials say.
The SAM-10 supports:
- Enhanced Coverage: “With NICE Actimize’s extensive catalog of out-of-the-box detection models, advanced analytics, and network risk detection, SAM-10 extends and enhances detection coverage across all industry verticals, especially in helping identify suspicious connections between transaction counterparties using new network risk analysis detection;”
- Faster Investigations: “Improved entity insights provide richer information and improved UI. The solution also offers network exploration capabilities for a visual understanding of relationships.” and
On-premise or software-as-a-service (SaaS) deployment.
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