As liquidity has clearly deteriorated in FX markets over the past two weeks, this week’s podcast is faced with a series of questions regarding participant behaviour, and joining Colin Lambert to discuss these issues is John Crouch, founder and CEO of Ideal Prediction. Using the imagination for which he is famous* Lambert kicks things off […]
Financial institutions across the globe will allocate almost half (48%) of their IT budget to spending on public cloud services in 2020, up from 41% this year and 34% in 2018, according to the results of Refinitiv’s latest research into the use of cloud technology for financial data. The findings are based on a survey of 300 […]
Refinitiv is set to acquire AlphaDesk, a cloud-based order management system (OMS) that offers order and portfolio management, risk and compliance solutions for buy side clients. Refinitiv currently offers pre-trade data and analytics via its flagship financial platform Eikon, which is integrated with its execution management system (EMS) trading capabilities from REDI. AlphaDesk will add […]
Digital Reasoning has announced the availability of a managed hosted version of its conduct surveillance solution on Google Cloud Platform and Amazon Web Services. Developed with Digital Reasoning’s banking partners, the firm says the solution brings its text and audio communications analytics to the world’s leading secure cloud infrastructures. It adds that compliance and front-office […]
Refinitiv has introduced Deal Tracker as a Service (DTaaS), a Cloud archiving and compliance tool for FX post-trade flow sourced from Refinitiv FXT. DTaaS is an extension of Refinitiv Deal Tracker, which is designed to help firms monitor and process FX trades on all major FX platforms globally, both in the front and back office, by allowing them to monitor trade activity in real time, track net positions, and archive data for easy searching as well as compliance needs.“As a Cloud-based service fully managed by Refinitiv, DTaaS can help eliminate the need for local software deployment, reducing total cost of ownership – a key benefit as financial companies look for ways to reduce spending, particularly on technology,” says Refinitiv in a release issued today.
IHS Markit has introduced new, cloud-based technology for post-trade processing of OTC derivatives trades. Called TradeServ, the platform launched in September for matching, confirming and clearing trades of NDFs.
In total, 32 banks and asset managers are now live with TradeServ, which uses microservices architecture and cloud infrastructure to make the platform “flexible, scalable and reliable”, the firm says. It aims to provide customers with better access to trade data, easier integration and more continuous service upgrades in response to changing regulation and industry needs.
Cobalt, a London-based back and middle office infrastructure provider, announced that it will be hosting its systems in the BT Radianz Cloud.
The Cobalt system delivers this shared infrastructure by using a combination of an immutable shared ledger and low latency technology in a bid to “significantly reduce post-trade cost and risk for the financial markets”. By creating a shared view of trade data, Cobalt seeks to free up back and middle office resources from multiple layers of reconciliation; creating one immutable record of FX transactions from which to provide multiple services.
In a new survey conducted by Thomson Reuters, 90% of financial services firms said that they will use public cloud for the majority of their market data needs in less than four years, while 24% said that they will do so within just one year.
Meanwhile, respondents said their firms would be increasing investment in public cloud by over a half, from 30% of IT budgets in 2017 to 47% in 2019.
These results are particularly significant, given that financial services firms are increasingly fuelled by data, whether to discover profitable new insights or to help them automate their reporting processes and manage costs at a time of intense regulatory pressure.
Duco, a data engineering technology company, has completed a $28m investment round by Insight Venture Partners, Nex Opportunities and Eight Roads Ventures. The round also includes an investment by entrepreneur and former CEO of SunGard, Cristóbal Conde.
Duco provides technology that enables banks, brokers, asset managers and exchanges to normalise, validate and reconcile any type of data in Duco’s cloud, providing firms with on-demand data integrity and insight.
Duco says that it will use the investment to expand its global footprint, with headcount growth in Europe and the US, the launch of an Asia office and an expansion of its product set.
Order management technology provider Barracuda FX has announced the launch of OMS Cloud, a development that makes Barracuda’s OMS technology available on the cloud, enabling all sizes of banks to use the service.
Barracuda developed the new service in response to banks active in the FX market asking for professional OMS tools, but without having the resources or capacity to implement an OMS.
OMS Cloud offers a solution to hundreds of banks which have previously either not supported FX orders, or simply outsourced them via larger banks’ single dealer platforms.