Market access technology provider Vela has announced the launch of its Systematic Internaliser (SI) Data Hub, part of its MiFID II solution suite. The firm has also confirmed the addition of Sun Trading as part of its roll-out of new Systematic Internaliser venues.
The SI Data Hub provides clients with access to multiple SI liquidity price feeds through a single normalised API, helping to address MiFID II concerns regarding best execution and liquidity fragmentation when it takes effect on 3 January 2018.
Transaction Network Services (TSN) has launched a new connectivity solution, TNS Secure Cloud Connect, which, the firm says has been designed to provide secure, resilient and easy access to a range of cloud services, including those from the major cloud providers.
It facilitates connectivity to the cloud as well as from a firm’s presence in the cloud to TNS’ financial community which includes more than 2,000 endpoints, the firm adds. Where cloud providers use a regional set up, the service enables cross-region connectivity to help make the infrastructure more efficient and redundant.
NEX Regulatory Reporting has announced its intention to apply to become a trade repository for the Securities Financing Transactions Regulation (SFTR) and launch a dedicated reporting solution, pending the issuance of the final technical standards from ESMA.
The firm, which is part of NEX Group, says it will in time add the SFTR trade repository and solution to its Global Reporting Hub to provide clients with an end-to-end solution for the securities lending and repo markets. The SFTR trade repository will be built and hosted in the cloud.
IHS Markit has announced new trade technology solutions from its MarkitServ unit that enable full automation of settlement and margin payments in the cross-currency swaps market.
Cross-currency swaps expose counterparties to settlement risk due to the high value of initial and final principal exchanges that take place in what was recently measured to be a $30 trillion market. New automation, workflow and integrations between MarkitServ and both CLS and LCH SwapAgent enable firms to automate swaps payments, including initial and final notional exchange settlements through CLS and variation margin payments with LCH SwapAgent.
The Financial Stability Board (FSB) has published a report that considers the financial stability implications of the growing use of artificial intelligence (AI) and machine learning in financial services.
It notes that financial institutions are increasingly using AI and machine learning in a range of applications across the financial system including to assess credit quality, to price and market insurance contracts and to automate client interactions. The lack of interpretability or auditability of AI and machine learning methods could become a macro-level risk, FSB warns.
Specialist FPGA-enabled high-performance networking platform provider Metamako, and Velocimetrics, a provider of business flow tracking and performance analytics, have announced a collaboration to deliver analytics and time stamping “beyond what is required by MiFID II”.
The firms say Metamako’s low-latency, FPGA-enabled network devices will deliver lossless data capture and nanosecond-precision time stamping, while Velocimetrics’ VMX monitoring software will consume and analyse the ‘raw’ data to enable financial institutions to measure, monitor and gain deep insight into their business/trade flows with unprecedented speed, accuracy and flexibility.
Broadway Technology has signed three tier-one banks, including Barclays, to mark its expansion into the global fixed income marketplace.
Broadway’s fixed income and foreign exchange clients now include 20 of the world’s largest banks and financial institutions, the company says. Its patented enterprise middleware, the TOC, serves as the core underlying platform, allowing customers to build their own integrated applications that interoperate with Broadway’s fintech solutions.
The firm says its aims to deliver comprehensive, out-of-the-box fintech solutions while, also giving clients an ability to rapidly adapt and customise over time.
R3 and 22 of its member banks have developed a new international payments solution that leverages distributed ledger technology (DLT).
A protoype of the solution – which is being built on R3’s Corda platform – is due to be released by the end of 2017.
In a release issued today, R3 notes that domestic payment systems have advanced in many countries to the point of providing real-time funds transfer for customers, highlighting by contrast the extremely inefficient, expensive and slow experience businesses encounter with international payments.
BestX has expanded its suite of best execution analytics with the launch of a new regulatory reporting module. The new functionality allows buy-side clients to schedule and automate the best execution reports they need to generate to satisfy their obligations under MiFID II.
BestX says it has employed legal expertise to help navigate this complexity and distil from the text exactly what needs to be reported from a practical perspective. The product allows clients to configure the reports according to their own interpretation.
Open data movement technology provider Solace has announced that Cobalt, which aims to reduce the cost, risk and complexity of FX post-trade processing, is using it to facilitate the event-driven flow of information.
Cobalt CEO Andy Coyne, says, “FX is a high speed, high throughput market, and Solace plays a mission-critical role by guaranteeing the rapid, reliable delivery of massive amounts of information.”
The firms say Cobalt selected Solace technology for its “unique” ability to guarantee the delivery of very large volumes of messages while protecting downstream systems from high burst rates during periods of exceptional market volume and volatility.