Asset Control, RiskFirst, and Fidessa also have FinTech news announcements.
Ancoa’s Platform Relies Upon Amazon Web Services (AWS)
Convergex, an agency global brokerage, is using the market surveillance platform from vendor Ancoa to monitor trading activity across its domestic U.S. and international cash equities and options brokerage businesses to bolster compliance with U.S. and international market abuse regulations.
The cloud-based deployment uses Amazon Web Services (AWS), which is certificated to ISO 27001 information security standards, officials say.
“The deployment will help the firm monitor the trading activity of its lit and dark venues including Millennium, a proprietary ATS,” say officials who add that the deployment helps with the monitoring of ATS market participants via a single centralized platform.
The selection of Ancoa’s market surveillance platform “across its U.S. and international operations” followed a “rigorous due diligence and vendor review process,” Convergex officials say. Ancoa’s “strong visualization tools” and global compliance team helped in the selection process, officials add.
Convergex’s solutions include its ETF Direct platform and algorithms, global high-touch and electronic trading, options trading and technologies, prime brokerage services, global clearing, commission management and corporate access, officials say.
Erste Group to Use Asset Control Platform
Erste Group Bank, part of the Erste Group of financial services firms, is using Asset Control’s AC Plus data management platform to develop a central security master for the bank and its subsidiaries in seven countries across Central and Eastern Europe.
The contract will deliver the data management system to subsidiaries in Austria, the Czech Republic, Slovakia, Romania, Hungary, Croatia, and Serbia, officials say.
Officials add that the central security master will facilitate “the input, aggregation, normalization and distribution of various central and local data sources to aid the production of Key Information Documents (KIDs), as required under the Packaged Retail Investment and Insurance-based Investment Products (PRIIPs) regulation due to come into force in January 2018,” officials say.
The KIDs will provide “standardized information to give retail investors sufficiently clear and comparable information on the range of products available,” officials add.
Erste Group officials say the firm may go live with Asset Control for its PRIIPs initiative in September 2017, ahead of the January 2018 compliance deadline. “The Group will apply the same central security master architecture to ensure it has the necessary processes in place to meet the regulatory requirements of MiFID II, including accurate instrument classification, trading venues representation, pre- and post-trade reporting and interfacing with ESMA,” according to Erste officials.
Pension Consultancy Uses RiskFirst Platform
Cardinal Investment Advisors, a consulting firm that works with pension funds, foundations, and endowments, will be using RiskFirst’s risk management platform, PFaroe, officials say.
The consultancy intends to use the platform to optimize its clients’ complex portfolios in “a liability-aware fashion, informing, in particular, long-term strategies around glide paths, required cash contributions and the maintenance of credit balances,” officials say.
“The tool will be an asset to our offering; automating our reporting and allowing us to have all our data in one place – everything from the attribution of risk, all the way down to having access to underlying benchmark data,” says Scott Skornia, managing director, Cardinal Investment Advisors, in a prepared statement.
RiskFirst is a financial technology business that provides intuitive, user-friendly risk analytics and reporting.
ChartIQ Joins Fidessa’s Partnership Program
Fidessa group has added ChartIQ to its Partnership Program, in an effort to bring an HTML5 visualization and analytics toolkit to the Fidessa trading community, officials say.
The ChartIQ inclusion will embed context sensitive charting “directly within the Fidessa trading workflow, and adds to the range of analytics already available,” officials say. The Prospector and live order monitoring tools are also available.
The program allows Fidessa’s trading community to access the latest third-party tools and technologies, and for partner firms to leverage Fidessa’s workflow and distribution.
Integration efforts are underway and ChartIQ will be available in Fidessa’s platform later this year, officials say.
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