In other news, Linedata updates Navquest, SEB has a new unit & NeoXam promotes its COO.
TMX Group & Overbond Form Partnership
TMX Group, an operator of exchanges and global markets such as the Toronto Stock Exchange, reports that it’s integrating CDS FIPS settlement-layer Canadian bond data with fixed income AI analytics and trade automation solutions from vendor Overbond.
The integration should make bond liquidity scoring and best executable pricing more precise, officials say.
“CDS FIPS enriched data enables more accurate measurement of the traded volume of Canadian dollar denominated OTC [over-the-counter] trades — data that is otherwise not found in any other electronic venue data feed or composite pricing data feed,” according to the official announcement from TMX and Overbond.
“This integration directly addresses the data challenges facing Canadian asset managers when they are pricing Canadian bond portfolios, structuring and rebalancing new portfolios, and seeking to construct and use pricing and liquidity time series,” according to officials.
The Overbond-TMX partnership “provides for enhanced pre-trade and post-trade analytics and enables more accurate best-executable pricing and liquidity discovery for Canadian bonds,” officials say.
“CDS FIPS combines executed trade settlement data with custody activity data from both electronic and voice trades [via OTC transactions] to provide the only available complete daily volume information on Canadian fixed income trades reported to CDS Clearing and Depository Services Inc. The service covers more than 40,000 Canadian corporate and government bonds,” officials say.
“Adding settlement layer data to Overbond AI models is the next frontier in data aggregation necessary for discovering best-executable pricing and liquidity in the Canadian corporate bond market,” said Vuk Magdelinic, CEO of Overbond.
The CDS FIPS data enhancement is only the start of the added value that will come from the Overbond-TMX partnership because Overbond technology is scalable and adaptable to other asset classes.
“We expect that TMX and Overbond will enable additional AI-driven data and analytics tools for use by asset managers, buy-side and sell-side traders, analysts, compliance departments, and back offices across multiple asset classes,” said Michelle Tran, president of TMX Datalinx.
Linedata Updates Fund Monitoring Solution Navquest
Linedata, an asset management and credit technology vendor, has launched an “optimized version of its Linedata Navquest fund monitoring solution,” officials say. Linedata is adding “functional and technological enhancements” to Linedata Navquest.
“Firstly, by broadening the range of risks covered, Linedata reduces the margin of error in the day-to-day monitoring of net asset value (NAV) by fund industry players. Secondly, by enabling automation and streamlining cloud-based processes, the principle of continuous development and integration (CI/CD) is upheld within the Linedata AMP platform,” according to the Linedata announcement.
The Linedata Navquest dashboards will offer more support to “control teams in working more efficiently to respond to the ever-expanding scope of obligations associated with increased regulation. All industry players, from asset managers to fund administrators, management companies and custodian banks (through their oversight departments) can now focus on covering all new risks for their clients, such as cash flow monitoring and safekeeping monitoring, via a unified tool,” vendor officials say.
“Two co-funding projects are underway with two of Linedata’s longstanding clients in the U.K. and in Luxembourg, which will be able to go live on the new version of Linedata Navquest at the end of the year,” officials add.
SEB Builds a New Financial Intelligence Unit
Swedish banking group Skandinaviska Enskilda Banken (SEB), headquartered in Stockholm, is building a new financial intelligence unit within SEB’s Financial Crime Prevention Unit (FCP), officials say.
SEB officials report that they have recruited Nicklas Lundh from the Swedish Police where he was serving as head of the financial intelligence unit. Ravi Shankar Sharma, head of intelligence development, investigations, and analytics at Nordea, to “co-head the new unit and report to Johan Sekora, head of FCP. Both will start at SEB in October.”
Sharma “will head up SEB’s work to further develop advanced analytical and investigation capabilities,” officials say.
The new Financial Intelligence Unit will “allow us to further deepen our cooperation with other organizations, such as the police, following the launch of the Swedish Anti-Money Laundering Intelligence Task Force two years ago,” says Mats Torstendahl, deputy CEO and group senior FCP Manager, in a prepared statement.
NeoXam’s COO Moves Up to Group MD Role
Florent Fabre
Financial software vendor NeoXam has promoted its chief operating officer (COO) Florent Fabre to the position of Group Managing Director, as part of a push for global growth, officials say.
“Florent has served as NeoXam chief operating officer and member of the Executive Committee since April 2015,” according to NeoXam.
“Florent and I, with the constant support of the executive committee as well as the entire management team have, for 7 years, shaped the group. NeoXam has spread its values of team spirit and entrepreneurship, while respecting our commitments across the world. Over the past two years, Florent has ensured the operational management of the group. Cathay Capital, Bpifrance, and all of NeoXam’s shareholders including myself, as CEO and founder, are simply recognizing Florent’s exceptional involvement. I thank him and congratulate him,” says Serge Delpla, CEO and founder of NeoXam in a statement.
“Since our 2018 investment in the NeoXam group alongside Bpifrance, Serge, Management, and co-investors, Florent has successfully demonstrated his outstanding ability to both strengthen the organization internally and develop the group internationally,” says Hervé Descazeaux, managing partner at Cathay Capital, in a statement.
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