This Week: BlackRock/Cassini Systems, Standard Chartered, and more

BlackRock integrates Cassini Systems’ analytics into Aladdin platform

BlackRock and Cassini Systems, a provider of pre- and post-trade margin and collateral analytics for derivatives markets, have entered into a strategic partnership to integrate Cassini’s analytics into BlackRock’s Aladdin platform. The integration will allow mutual clients to factor margin-based analytics into their pre- and post-trade decision-making.

Within the Aladdin platform, Cassini’s margin analytics capabilities aim to empower traders, portfolio managers and operations professionals to better understand and control margin requirements at all stages of the trade lifecycle. This includes the ability to analyze drivers and movement in margin exposure, identify opportunities to optimize collateral, and maximize margin efficiencies across the entirety of a firm’s book of business.

The partnership builds on existing Aladdin derivatives capabilities to provide pre-trade margin comparison and collateral optimization. BlackRock and Cassini will first offer joint pre-trade initial margin capabilities in September.

Temenos and Standard Chartered extend strategic relationship

Temenos, a Swiss banking software company, has announced that Standard Chartered has extended its strategic relationship to support its growing financing and securities services offering.

The new service offerings include automations throughout the investor servicing lifecycle that aim to enable higher levels of operational efficiency and free operations teams from manual, labor-intensive tasks so they can be client-focused.

Pico forms Shanghai-based enterprise 

Pico has announced the formation of a wholly foreign-owned enterprise, British Commercial Pico Information Technology Company, based in Shanghai. Pico plans to support firms seeking to access this liquidity location through its new Chinese entity.

Initially, Pico will provide proximity hosting and fulfillment services in Shanghai and Shenzhen for non-exchange members as well as market data via its co-location facility in the Hong Kong Exchanges and Clearing Limited data center. 

Pico grew its APAC footprint in 2020 with new co-locations in Taiwan and the Republic of Korea and expanded further in Japan, offering ultra-low latency access to the JPX colocation ecosystem.  Pico also added market data from Shanghai Stock Exchange and Shenzhen Stock Exchange to its market coverage.

Clearlake Capital Group to become majority holder of Confluence Technologies

Confluence Technologies, a software and data solutions provider to the investment managers, has entered into a definitive agreement for Clearlake Capital Group to acquire the company from TA Associates. Upon closing of the transaction, Clearlake will become the majority shareholder while TA will retain a minority equity stake. Mark Evans, chief executive officer of Confluence, will continue to lead the company supported by the existing management team. 

The transaction is expected to close in the third quarter of 2021 pending regulatory approvals and closing conditions. 

RBC Clearing and Custody expands clearing platform with Cowen subset

RBC Clearing and Custody, a division of RBC Capital Markets, has announced it has expanded its clearing platform that services broker-dealers and registered investment advisors across the wealth spectrum by entering into an agreement to transition a subset of Cowen’s correspondent clearing business to the RBC platform.

Over the last five years, revenue and assets under management rose more than 100% as the business attracted more broker-dealers and RIAs to the platform. RBC C&C attributes its rapid growth to its partnerships with its financial services business clients..

D.A. Davidson to acquire Marlin & Associates

D.A. Davidson Companies has entered into a definitive purchase agreement to acquire Marlin & Associates. Marlin & Associates is an advisor providing counsel to worldwide buyers and sellers of middle-market firms that offer enterprise and vertical application software, data and analytics, and services.

With the acquisition of Marlin & Associates, D.A. Davidson’s technology equity capital markets group will grow to 60 professionals covering eight sectors.

Following the acquisition, Ken Marlin will serve as vice chairman of D.A. Davidson’s technology platform, while Joe Morgan and Michael Maxworthy will serve as co-heads of technology investment banking. The transaction is expected to close in Q3 2021.