Xenomorph Builds Connector to S&P Data
Brian Sentance, CEO of Xenomorph
Data analytics and management systems provider Xenomorph has built a connector between its TimeScape platform and S&P Capital IQ’s data offerings that officials at both vendors say might lead to productivity improvements in operations due to higher data quality.The new link will provide an integrated platform for market, reference and fundamentals data supported by the wider access provided by the link between Xenomorph’s TimeScape platform and the S&P’s data solutions, officials say.
The connector will allow the commingling of market, reference and fundamentals data such as company data and information on ownership, financials, company transactions, estimates, credit ratings and research, valuations and pricing, global terms and conditions, and corporate actions, officials say.
The integration of data into a single, enterprise-wide platform will allow for more data manipulation via those in front, middle and back offices, officials say. This could allow for more input into data quality management process and ease data access issues for end-users across the enterprise.
“It’s often the business people that know an awful lot about the data quality,” says Brian Sentance, CEO of Xenomorph. “Unfortunately, it’s the business people that find that the data is wrong after they’ve been provided it by the back office.”
Omgeo Takes on OTC Collateral Ops via Partnerships
Post-trade services and solutions vendor Omgeo wants to streamline collateral operations by partnering with margin management software maker AcadiaSoft and post-trade risk management services provider TriOptima to add services to the Omgeo ProtoColl automated collateral and margin management offering, officials say.
ProtoColl will offer a direct link to the triResolve reconciliation service for over-the-counter derivatives positions and portfolios, officials say. The interface will provide TriOptima with updated OTC position information about ProtoColl clients and their counterparties, along with the associated contractual information.
Omgeo will also be introducing an interface to AcadiaSoft’s MarginSphere margin confirmation service, which will enable ProtoColl clients to electronically communicate margin information between counterparties, and agree on margin call amounts via a single service, officials say.
The link between TriOptima and ProtoColl is intended to lower the risk of errors and operating costs and improve credit risk mitigation, according to triResolve officials. The MarginSphere interface should aid confirmation of margin details while accelerating the process and reducing risk, say AcadiaSoft officials.
Omgeo hopes to lower the overall costs of collateral management for over-the-counter instruments under the purview of the Dodd-Frank and the European Market Infrastructure Regulation reforms, Omgeo officials say.
ProtoColl users will get direct access to data “pertaining to position variances with their counterparties in advance of the collateral process,” says Rick Enfield, executive director of ProtoColl product management at Omgeo, in a statement.
The TriOptima and AcadiaSoft interfaces to Omgeo ProtoColl are slated to go live during the first quarter of next year, say Omgeo officials.
Sapient Offers FATCA Compliance Service
Sapient Global Markets has launched a consulting service to help firms with the back-office identification and reporting requirements of the Foreign Account Tax Compliance Act just as firms exploit the six-month FATCA delay to explore ways to optimize their program spend on tax operations and other regulatory reporting, say company officials.
The new service will provide:
- A control framework for IRS reporting;
- A withholding solution that produces reporting and transaction tracking data;
- And transactional data collected in prescribed formats required by IRS or local tax authorities with submission via Sapient Global Markets’ Compliance Management and Reporting System.
CACEIS Debuts ‘Collateral Express’
Asset servicing banking group CACEIS is launching a collateral management solution Collateral Express, which will be integrated with its Asset Servicing offering, officials say. The new offering targets buy-side firms engaged in over-the-counter (OTC) derivative transactions.
Collateral Express will provide access to electronic affirmation platforms, valuation for OTC instruments including plain vanilla and complex products, and regular reconciliation with counterparties, say CACEIS officials. The service also offers links to clearing houses, transaction reporting to trade repositories, calculation and reconciliation of margin calls, the management of collateral in the form of securities or cash, and combined reporting of cleared and bilateral transactions.
FinTech Lab Opens 2014 Competition
The FinTech Innovation Lab, co-founded by management consultant Accenture and the Partnership Fund for New York City, has kicked off its competition for a 12-week immersion program that helps early- and growth-stage financial technology vendors hasten product development, say officials. Lab participants have access to financial industry executives and venture capitalists.
The FinTech Innovation Lab focuses on entrepreneurs developing cutting-edge technologies for the financial services sector particularly in the areas of big data and analytics, mobile and wireless, payments, risk management, security, and social media and collaboration technologies, officials say.
Applicants need a working beta version of their offering that is ready to be tested for either the institutional or retail market, officials say. Applying a competitive process, chief technology officers and senior technology executives from 14 participating financial institutions will select six entrepreneurs to participate in the lab.
Applications are available at www.fintechinnovationlab.com and are due by December 6, 2013. The lab begins in April 2014.
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