CameronTec, DTCC, Linedata and more …

Connectivity provider CameronTec will acquire US-based Greenline Financial Technologies, a MarketAxess subsidiary.

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CameronTec buys Greenline

Connectivity provider CameronTec will acquire US-based Greenline Financial Technologies, a MarketAxess subsidiary.

Greenline has specialised in development of customised integration, testing and management solutions for FIX-related products and services. The acquisition is expected to close later this year.

CameronTec CEO Anders Henriksson said the merger creates a “compelling” end-to-end trading and services platform for the financial industry.  

“For existing FIX customers as well as the broader financial services community, this is a particularly positive development as it delivers extended value from integrated products and signals a sharper customer focus, stronger development investment and even more powerful deployments.”

The Greenline acquisition includes a line of products covering its flagship product suite, VeriFIX, CertiFIX, MagniFIX, MetriFIX and Exchange Central.

CameronTec will also take-over Greenline’s product and professional services agreements that cover customers in the US, EMEA and Asia Pacific.

New reference data service to be developed 

The Depository Trust and Clearing Corporation (DTCC) has plans to develop a service that collects and manages necessary client entity reference data to meet regulatory requirements.

DTCC has signed a memorandum of understanding (MOU) with a group of global banks including Barclays, Credit Suisse, Goldman Sachs and JPMorgan, which will also be part of the service development. 

DTCC and the banks are planning to have a state-of-the-art client data and documentation platform. At first, the new service will help specific regulatory needs, but over time, it will address the client reference data requirements of banks and broker dealers, as well as asset managers and hedge funds, including standing settlement instructions, regulatory compliance data and client onboarding.

“Our ultimate aim is to support the industry’s call for a comprehensive, centralised platform to effectively manage virtually all client reference data,” Michael Bodson, DTCC president and CEO, said.

“We are very pleased that we now have an MOU with a group of the industry’s top multinational participants. With their partnership, and the support of our board of directors, we are moving forward aggressively to bring this solution to market.

Linedata’s I-BOR gives position overview

Technology provider Linedata has launched its Investment Book of Records (I-BOR) platform to provide a complete start-of-day and intraday view of positions and cash.

I-BOR aggregates multiple data sources across an organisation, and is already being used by Linedata clients. 

According to Linedata, asset managers are increasingly demanding a single, view of the firm’s position, which cannot be achieved with data from trading systems alone.

“Linedata I-BOR has been successfully used as an investment book of records solution for some time, and we are confident that it can provide any firm with that single, comprehensive, timely view of positions,” said Mike de Verteuil, Linedata’s international business development manager.

“We have the expertise and proven methodologies to roll this offering out to a wider audience and will be further developing the I-BOR platform in the future. Additionally, we offer deployment choices, having made Linedata I-BOR available as an in-house or hosted solution,” he said.

Bloomberg expands FX offering

Bloomberg has launched First Word Foreign Exchange (FX) to provide customers with actionable news and information into the events affecting the global currency markets.

The news product will deliver 24-hour coverage of economic, geopolitical, currency-specific news. Bloomberg says First World FX was designed based on input from FX market participants globally to help them make faster, more informed investment decisions.

"We operate in a dynamic environment, and there is a constant flow of news and information,” Robert Savage, chief strategist at FX Concepts LLC, said. “First Word FX distills the most important points to keep me informed and offers the in-depth analysis I need to understand the big picture.”

First Word FX complements Bloomberg’s FX suite available on the Bloomberg Professional service, which includes news, data, pre- and post-trade analytics, execution platforms and communication tools.

 Canada’s AIMCo goes live with SimCorp Dimension

Alberta Investment Management Corporation (AIMCo) has adopted SimCorp Dimension for the automation of daily investment workflows.

AIMCo, one of Canada’s largest investment management firms with a portfolio of about C$70 billion, was seeking a tool that would improve stability and control across positions and securities.

Leo de Bever, AIMCo’s CEO, said the firm will use SimCorp Dimension as part of its integrated investment platform. “This allows AIMCo to further develop global investment strategies for the pensions, endowments and government funds we manage.”

AIMCo manages funds for a diverse group of Alberta public sector clients including public sector pension funds, endowment funds and government-mandated funds.

David Kubersky, managing director at trading solution vendor SimCorp, North America, said: “Pension and endowments today are no longer investing within the confines of the basic asset classes that so many legacy technology platforms were built to process.

“Additionally, increased regulatory pressure continues to make detailed reporting and validation necessary functions of an investment management solution,” he said.