This Week: JP Morgan, Deutsche Börse, Refinitiv, and more

Confluence and JP Morgan expand partnership for multi-asset portfolio analytics

Confluence Technologies and JP Morgan have expanded their partnership to deliver a multi-asset portfolio analytics solution. 

At the start of Q3 2021, Delta, Confluence’s risk and performance solution will expand coverage provided by JP Morgan’s proprietary analytics to include US securitized products. The solution will also be available through JP Morgan’s platform. 

JP Morgan clients started using Delta in June 2019, during the first phase of collaboration between JP Morgan and StatPro, before Confluence’s acquisition of StatPro in October 2019.

Deutsche Börse acquires remaining stake in Clearstream Fund Centre

Deutsche Börse has acquired the remaining 49% stake in Clearstream Fund Centre from UBS for CHF 390 million ($430 million), making it the sole shareholder in the Zurich-based fund distribution platform.

Clearstream Fund Centre sits under the umbrella of global post-trade services provider Clearstream. Deutsche Börse bought a 51% stake in Clearstream Fund Centre on September 30, 2020. Since then, the company recorded a 25% increase in assets under administration to more than €300 billion ($362 billion). 

UBS remains a long-term partner of Clearstream across the entire value chain of the fund services market. The transaction marks the successful integration into Deutsche Börse’s post-trade services provider, Clearstream. 

Torstone Technology teams with Digivault to enhance post-trade services for digital assets

Torstone Technology, a SaaS-based post-trade securities and derivatives processing provider, has partnered with Digivault, a digital asset custody provider and custodial arm of Diginex, to provide Digivault’s clients with enhanced post-trade services. 

The partnership also provides Torstone’s customers access to digital asset custody solutions. It will leverage Torstone’s cross-asset platform, including cryptocurrencies and tokenized assets, giving clients the flexibility to handle their crypto trading in a single post-trade solution using Digivault for digital asset custody.  

The partnership will also integrate and use both firms’ cloud infrastructure. Torstone’s platform will provide a bridge between the movement of traditional securities and fiat payments with digital assets, spanning standards and networks like Fix and Swift with digital networks and crypto custody. 

Refinitiv partners AI news provider

Refinitiv has entered into a strategic agreement with FinTech Studios, an AI-based news, market intelligence, and analytics provider, to provide industry, local and regional news and research to wealth management professionals in Latin America. 

FinTech Studios uses AI and machine learning to separate signals from the noise to provide users with insights, news, and research about markets and companies. The partnership will provide financial professionals with news and information supporting securities research and trade ideation and access to breaking stories and market events. 

Users can view trending topics across industries and companies, sort by specific companies and keywords, and explore knowledge graphs to interpret the impact on related companies and individuals. Firms can tailor the solution to deliver local language capabilities, preferred sources and analytics, and views. 

LedgerEdge taps Exactpro to test DLT-enabled bond trading platform

LedgerEdge has chosen Exactpro, a software testing provider for mission-critical financial market infrastructures, to run functional testing and ensure the resilience of its distributed ledger technology-enabled global corporate bond trading platform.  

LedgerEdge is devising a new trading ecosystem using R3’s Corda system for distributed computing to improve liquidity and provide greater transparency. Exactpro is developing a test library to assess and maintain the quality of LedgerEdge’s platform. 

So far, Exactpro has completed a functional requirements review of the project and carried out functional touch testing of the components and applications. The project is in its pilot phase and expects to be released in the second half of 2021. 

AccessFintech and Six partner for CSDR eligibility data

AccessFintech and Six have partnered to provide Central Securities Depositories Regulation (CSDR) eligibility and penalty data to their joint customers. 

A key part of the CSDR process is correctly determining the eligibility parameters of each trade using multiple data points. This process will be automated and streamlined using Six’s reference and pricing data on the AccessFintech platform. 

The CSDR settlement discipline, which presents measures to ensure efficient settlement of trades in European Union markets, will commence in February 2022. Participants are required to gather, track, and communicate information through the lifecycle of each trade. 

Cowen Outsourced Trading selects Tora’s OEMS

Following an intensive evaluation of trading system providers, Cowen Outsourced Trading has selected Tora’s order and execution management system (OEMS) for fixed income across the USA, Europe, and Asia. 

Cowen’s trading teams work alongside their clients and function either as the clients’ trading desk or as an extension of their trading desk. 

Tora’s OEMS provides Cowen traders access to advanced trading functionality, including market data aggregation, customized order intake and execution, order allocation management, and post-trade analytics. Cowen traders now use the Tora Fix network to connect to multiple bond trading platforms and global brokers to access liquidity and improve trade execution quality. 

SoftSolutions! completes AWS technical review for nexRates platform

Fixed income trading provider SoftSolutions! has made nexRates, its electronic trading-as-a-service platform, available on Amazon Web Services (AWS). This follows nexRates completing AWS’s Foundational Technical Review. 

The platform has been architected to take advantage of AWS, and to meet strict security, disaster recovery, resilience, and operational excellence criteria. Trading customers benefit from the elasticity, scalability, and faster time-to-market of the SaaS offering. 

It provides customers access to multi-markets, multi-feeds, and multi-asset environments with the necessary security and risk controls to meet regulatory requirements. 

Datactics closes $2.8 million funding round

Belfast-based data management provider Datactics has announced a £2 million ($2.8 million) investment round, led by Par Equity and Kernel Capital alongside Clarendon Fund Managers. 

Datactics will use the funding to accelerate its business, including hiring business development staff in London and New York and dedicated staff for partnership development. The company is actively seeking strategic partnerships in regtech and govtech. 

The company specializes in user-friendly data quality and matching software to empower business users to self-serve for high-quality data. 

Alkymi launches tool to automate daily workflows

Alkymi, a decision intelligence, and developer of Alkymi Data Inbox, has launched Alkymi Patterns, a tool that gives users a simple way to identify and extract data in real-time to automate business processes running on email and documents. 

Alkymi Data Inbox, the firm’s flagship platform, liberates the data stuck in emails and documents to enable faster and more accurate data extraction. Now with Alkymi Patterns, business users can extract specific data from tables and text to create their own automation jobs and eliminate repetitive email and document processing.