BNY Mellon hires Markit in data management drive
Markit is to provide BNY Mellon Asset Management with a data management solution to unify its data and eliminate manual processes.
BNY said it selected Markit Enterprise Data Management following an extensive due diligence process. As part of BNY’s plans to improve its data facilities, it will amalgamate, cleanse and validate its data to create a master dataset.
Daniel Simpson, managing director and head of enterprise software at Markit, said: “Organisations on the buy- and sell-side recognise the need for an enterprise-wide platform to take control of their data and break down silos. BNY Mellon is doing just this by taking a top down approach to managing its data across the firm and its multiple global subsidiaries.”
NCB Capital selects Charles River solution
Saudi Arabia-based fund manager NCB Capital has signed up to use the Charles River Investment Management Solution as part of an expansion of its portfolio management and execution capabilities.
The move completes the first stage of its multi-asset class rollout, automating portfolio management, order and execution management, compliance and risk monitoring and performance measurement.
Sami Al-Bashir, COO of asset management at NCB Capital, said: "We want to be the manager of choice for local and foreign investments in Saudi Arabia, and Charles River's global solution allows us to offer strategies and processes equal to those of the world's leading asset managers."
DTCC automates corporate actions messages
The Depository Trust and Clearing Corporation (DTCC) has received its first corporate actions message in the new ISO 20022 message format as it seeks to improve efficiency in corporate actions.
Automating the instruction process for corporate actions by using ISO 20022 messaging will eliminate manual touch points and reduce overall errors, the DTCC said in a statement. This year, the DTCC will also be introducing instruction statement reporting in the ISO 20022 message format.
"DTCC is working collaboratively with clients to test electronic instructions for distribution event types," said Rob Epstein, DTCC vice president, asset services. "In response to client feedback, DTCC developed the automated messaging process to help mitigate risks and reduce costs in corporate actions processing.”
Virtusa buys TradeTech Consulting
Global IT services company Virtusa has acquired TradeTech Consulting Scandinavia, a provider of asset management and treasury functions for a range of financial services firms.
The acquisition extends Virtusa’s role within asset management consulting services and will focus on TradeTech’s core areas of regulatory compliance and implementation of global asset management and treasury platforms.
“The complementary expertise that TradeTech delivers will help increase our total addressable market and provide our combined client base with expanded service offerings,” Kris Canekeratne, chairman and CEO of Virtusa, said. “In addition, this acquisition is an important step in establishing Virtusa in the Nordic countries and providing a broad set of best-in-class consulting and outsourcing services to this region."
EZ Trading Computers launches HFT computer
EX Trading Computers has released a personal computer aimed at high-frequency trading and other algorithmic-based trading strategies.
In a statement, the company said the computer, known as Ultimate X, would benefit professional traders looking for the fastest technology available. The system utilises Intel’s Xeon E5-2600 series of processors.
"Traders who absolutely must stay on the cutting edge of power and speed will greatly appreciate the new Ultimate X personal supercomputer," said Russ Hazelcorn, COO of EZ Trading Computers. "Advanced traders who use complex formulas and algorithms to generate buy and sell orders stand benefit the most.”
TMX Atrium adds Moscow data centre
TMX Atrium has extended its connectivity to IXcellerate, a Moscow-based carrier-neutral data centre operator.
The expansion of TMX Atrium’s Moscow footprint will provide increased opportunities for clients seeking low-latency between Moscow and European financial centers such as London, Stockholm and Frankfurt.
IXcellerate is a data centre operator that aims to provide equivalent quality in Moscow to those available in North America and Western Europe, offering pure-play co-location services.