In other FinTech News, FTF News reports upon a research platform from Commcise and Schroders, Synechron and RegTech, and SocGen’s new partner big xyt.
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 is an “effort to better serve both retail and institutional clients,” officials say.
With the expansion, BETA customers will get “automated settlement and straight-through processing of trades executed across all markets, through a high volume solution with a single-stock record across all asset classes and markets, driving domestic and international corporate actions processing,” officials say.
The newly integrated solution also offers “real-time updates of intra-day transaction status changes throughout the lifecycle of the settlement, along with straight-through-processing enabled communication with global and local custodians. It also serves as a multi-tenant solution that segregates each firm’s data while supporting multiple clients within,” officials say.
Wealth managers are looking for “greater investment opportunities for their clients beyond U.S markets. Our enhanced multi-market capability allows our North American BETA customers to reach new financial markets and grow their existing business by offering a broader array of investment options and opportunities globally,” says David Akellian, global head of wealth management for Thomson Reuters, in a prepared statement. The vendors hope the “fully automated single-stock recording process” will lead to greater operational efficiency and transparency in managing custodians, risk mitigation, lower error rates, and cost cuts that help firms free up resources “to work on other aspects of their business,” Akellian adds.
“Our two organizations will be able to fully automate post-trade processing for international trades, creating a faster, cleaner flow between the US and international markets,” says Naohiro Sako, senior managing director, NRI, in a statement.
Commcise & Schroders Roll Out Research Evaluation Platform
Commcise, a provider of end-to-end commission management, research evaluation and reporting processes for investment management firms, has deployed its CommciseBUY research valuation platform at Schroders, an asset management firm with a presence in 27 countries.
Commcise, which notes that it was founded by buy-side industry professionals, emphasizes that the functionality used by Schroders includes research and interaction evaluation; broker voting and allocations, as well as both the traditional web interface and the mobile app.
The implementation was undertaken by a joint Commcise and Schroders group and included “integration with Schroders’ internal research management system,” according to Commcise.
Synechron Launches RegTech Accelerator Program
Synechron, Inc., a financial services consulting and technology services provider, reports the launch of reg-tech accelerators designed to address regulatory concerns such as “Risk, Client Lifecycle Management (CLM), Legal & Compliance, and Finance & Treasury, and provide solutions for the following regulations: Anti-Money Laundering (AML), Know Your Customer (KYC), Basel III, the Generally Accepted Accounting Principles (GAAP), and the Fundamental Review of the Trading Book (FRTB).”
Synechron’s accelerators are intended to “give financial organizations the benefit of increased 
control through technology, which will allow for greater transparency, more efficiency, better data quality, and better overall management of risk and regulatory compliance.”
The firm reports the estimate that “financial institutions will spend up to 10% of their total revenue on compliance by 2022.”
According to Synechron, the accelerators “may also benefit users by reducing compliance costs and making regulatory compliance and risk management quicker, simpler, and more efficient as firms adjust to the evolving global regulatory landscape.”
One individual accelerator “automates the variance calculation process, as well as identifies influencing factors, and generates required commentary for manual validation and distribution.”
A second “automates [Fundamental Review of the Trading Book] calculations requiring the Standard Approach to modelling risk using a Spark-based data analytics platform, addressing the key areas – Sensitivity Based Approach, Default Risk Charge, and Residual Risk Add-on, offering a greater degree of control against using internal risk models.”
A third “addresses the inconsistencies in record keeping due to the high level of unstructured records banks are producing today, which are unsupported by the current manual processes used for traditional paper records, by applying automation to analysis, classification, and retention of unstructured documents for varying records management requirements … [to] create full audit trails.”
Based in New York, Synechron reports that it maintains “18 offices around the globe, with over 8,000 employees producing over $500M in annual revenue.”
SocGen CIB Picks big xyt’s Liquidity Cockpit for Equities Analysis
A provider of data and analytics capabilities, big xyt, reports the addition of Societe Generale Corporate & Investment Banking (SG CIB) as a client for its Liquidity Cockpit, which it characterizes as providing a view across all European trading-venue activity, with on-exchange and off-exchange liquidity, including over-the-counter (OTC) equities and systematic internalizer (SI) transactions.
big xyt calls its Liquidity Cockpit a provider of granular tick data and an overview of market share across all major European venues. Liquidity Cockpit keeps track of changes in trade conditions or execution venues and can predict the impact of double volume caps, officials say.
“The growth of our client community continues to demonstrate how Liquidity Cockpit has become an essential tool in helping users quickly understand the dynamics of fragmented markets and thus optimise trading and execution performance,” Robin Mess, big xyt CEO, says in a statement.
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