In other news, HSBC Asset Management helps launch an ESG firm, KDPW focuses on LEI renewal fees, and TRG Screen repackages its wares.
MaxxTrader to Bolster Equiti’s Prime Services
Equiti, an online trading technology provider, will be using the MaxxTrader foreign exchange platform from FlexTrade Systems as the basis for its prime of prime services offering, officials say.
MaxxTrader will help Equiti provide its prime of prime customers with “global FX liquidity aggregation, trade execution management, and institutional trading capabilities,” according to the announcement from FlexTrade, which offers multi-asset execution and order management systems.
“We were looking for an institutional technology partner to take our liquidity delivery to the next level,” says Iskandar Najjar, Equiti Group CEO, in a prepared statement. “Equiti has spent a considerable amount of time and effort in building out global liquidity pools and extending our relationship with major global investment banks,” Najjar says.
The MaxxTrader arrangement will allow Equiti to offer support for multiple use cases such as credit or margin via a graphical user interface (GUI) or an application programming interface (API), officials say.
HSBC Asset Management Fosters Firm Founded by Women
HSBC Asset Management is taking a minority stake in Radiant ESG, a consulting firm, and plans to transform it into RadiantESG Global Investors, “a female-owned, independent asset management firm focused on next generation ESG investment opportunities for institutional and wealth management clients worldwide,” officials say.
Focused on ESG and diversity and inclusion (D&I), RadiantESG was co-founded by Heidi Ridley and Kathryn McDonald. Ridley is former CEO of Rosenberg Equities where McDonald served as head of sustainable investing, officials say.
The RadiantESG team has “over 50 years’ combined experience and each spent two decades at Rosenberg Equities, which they led to become the first fully ESG-integrated quant firm in 2017,” officials say.
RadiantESG Global Investors is slated to launch the next phase of its growth later this year “with two investment strategies anchored on its proprietary ‘Positive Change’ concept of ESG which captures ESG Leaders, ESG Evolvers and UNSDG-aligned companies. The strategies will aim to address shifts in demographics and growing demand for more sustainable investment solutions,” officials add.
The new firm to come will be looking for an additional strategic partner “to assist with infrastructure and distribution in the US and key markets,” officials add.
KDPW Launches LEI Renewal Fees Plan
The Central Securities Depository of Poland, a.k.a. KDPW, is proposing “the option of advance payment of LEI [legal entity identifier] renewal fees for periods ranging from two to five years as of 1 July,” officials say. “The longer the renewal period, the bigger the discount, up to 23 percent.”
KDPW oversees the management of the depository, and the clearing and settlement system for the trading of financial instruments in Poland, officials say.
“KDPW has been charging LEI issuance fees of PLN 230 (ca EUR 51) and LEI renewal fees of PLN 220 (ca. EUR 49),” according to an official statement. “Starting on 1 July, existing and new clients can choose a LEI renewal period. Depending on the period (ranging from two to five years), the annual renewal cost will be discounted by nine to 23 percent. In addition to savings, clients will enjoy convenience of not having to renew the LEI every year as LEIs can be renewed automatically.”
Officials say the LEI issuance fee includes two components: a fee charged by the LEI issuer, known as LOU, and a fee charged by the Global LEI Foundation), the global LEI issuance system supervisor.
“LEIs are available from KDPW via the online application at https://lei.kdpw.pl. LEI issuance and renewal fees can be paid to KDPW online, officials add.
“An LEI is a unique global identifier of legal entities active on the financial market. KDPW manages a database of more than 24,500 LEIs issued to entities in Poland and beyond. Legal entities are required to obtain and use LEIs under European regulations including EMIR, REMIT, MiFID II / MiFIR, CSDR, and SFTR,” officials say.
TRG Screen Repackages & Updates Key Offerings
TRG Screen, a provider of enterprise subscription management solutions, has released an offering, Optimize Spend 1.0, that brings together its FITS and INFOmatch services, officials say. The repackaging will include functionality enhancements.
A major component of the Optimize platform launched last year, Optimize Spend combines “capabilities for managing, tracking usage, ensuring compliance and optimizing all aspects of enterprise market data, information and third-party vendor subscriptions and vendor relationships,” officials say. “It enables financial services, law firms and blue-chip corporations to fully monitor, manage and optimize their subscription spend to drive cost efficiencies.”
Optimize Spend uses web technologies and offers a streamlined interface, including new API functionality for bespoke integrations that read data from, and write data into, the Optimize platform, officials say.
In addition, Optimize Spend 1.0 also offers focus screens that allow users to easily identify unused, underused, and cancellable licenses, and additional workflow capabilities.
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