Vestmark is unveiling its Model Trading Service (MTS), a way to outsource model management, trading, rebalancing and account administration and cut overhead costs, say officials at the portfolio management software and services vendor. Citing Cerulli Associates, Vestmark officials argue that firms using models and outsourcing model portfolios will find it easier “to streamline their practices… Read More >>
Thomson Reuters & NRI Expand Reach of BETA Platform
BETA Platform Gets Automated Settlement & STP via Partnership Market data, news and systems provider Thomson Reuters has added international post-trade processing for multi-market and multi-currency securities to its North American wealth management brokerage processing platform, BETA, via the I-STAR/GX platform from Nomura Research Institute (NRI), a system solutions vendor and consultancy. The BETA expansion… Read More >>
JPMorgan Explores New Blockchain for Debt Issuance
JPMorgan Tests Involve National Bank of Canada JPMorgan tested “a new blockchain platform” for debt issuance with the National Bank of Canada and other large financial services firms, officials announced on April 20. JPMorgan is “is seeking to streamline origination, settlement, interest rate payments and other processes,” according to an official statement. For the test,… Read More >>
Fidessa Picks ION Bid Over Temenos & SS&C Overtures
ION Capital U.K. Ltd., which is indirectly and wholly owned by ION Investment Group Ltd., has won a key round in the battle to buy Fidessa as its $2.3 billion (£1.5 billion) bid has gotten the approval of the Fidessa board, besting a bid from Temenos. “The boards of ION and Fidessa are pleased to… Read More >>
Buy Side Spends $700M on ‘Risk Tech’ in 2017
Buy-side firms have jump started their investments in risk and analytics platforms, spending $700 million on “risk tech” during 2017 and marking a major move away from internally developed systems, according to a new survey done by Greenwich Associates, a market research firm. In fact, buy-side “expenditures nearly doubled to 10 percent of total buy-side… Read More >>
CME Group to Buy NEX Group for $5.5 Billion
Derivatives exchange operator CME Group Inc. is set to acquire NEX Group plc for an estimated $5.5 billion and, if all goes well, the combined provider of transaction processing across futures, cash and over-the-counter (OTC) instruments will be able to offer many post-trade capabilities beyond clearing services. The CME Group encompasses: CME Clearing; the Chicago… Read More >>
SS&C Buys North American Branch of CACEIS
Investment solutions and services giant SS&C Technologies Holdings, Inc. is acquiring CACEIS North America, the fund administration business of CACEIS, for an undisclosed amount and will be folding the business and staff into SS&C GlobeOp’s alternatives business. The parent company, CACEIS, describes itself as a Paris-based asset servicing group of Crédit Agricole bank, “providing execution,… Read More >>
Voya Settles SEC’s Conflict of Interest Charges
Voya Holdings Inc. has settled with the SEC over charges that two investment adviser subsidiaries did not disclose conflicts of interest and made misleading disclosures “in connection with their practice of recalling securities on loan so their affiliates could receive tax benefits,” SEC officials say. The Voya adviser affiliates have agreed to be censured and… Read More >>
Vermeg Finalizes Acquisition of Lombard Risk
European banking and insurance software vendor Vermeg has completed its acquisition of Lombard Risk, a collateral management and regulatory reporting solutions vendor, described as “a key milestone” in Vermeg’s bid to become a major player in the financial services solutions realm, officials say. The acquisition will add collateral management operations, regulatory reporting and compliance products… Read More >>
Exchange Data International to Offer Key Content via QuantHouse
Exchange Data International (EDI) will be offering its securities reference data and end of day pricing through the QuantHouse hub of services accessed via application programming interfaces (APIs), which is intended to help a quant trader’s decision-making, among other operations. The London-based EDI has a content database that covers major markets, particularly emerging and frontier… Read More >>
