Deutsche Börse acquires regulatory compliance firm
German market operator Deutsche Börse will provide clients with a greater ability to meet new regulatory needs across Europe, North America and Asia-Pacific after its Market Data + Services unit acquired London-based regulatory compliance firm Impendium Systems.
Impendium provides a cloud-based platform, named Elements, to help participants comply with a number of regulations across disparate jurisdictions, globally. Detusche Borse is currently integrating the Elements platform into its existing data offerings and will introduce it to clients who need support in meeting the requirements of the European market infrastructure regulation (EMIR). The platform will manage the complete lifecycle of EMIR trade reporting from consumption of trade data through to reporting to the trade repositories.
“The integration of market data and technology services has enabled us to further enrich our global data sets as well as utilise existing capacity to tap into specialised markets and growth areas,” said Hauke Stars, chief information officer for Deutsche Börse’s Information Technology and Market Data + Services division.
Credit Suisse AES joins REDI EMS
The algorithmic trading arm of global brokerage Credit Suisse is the most recent firm to join the REDIPlus execution management system (EMS) provided by REDI Global Technologies.
The platform accesses 97% of the world’s equities and derivatives electronic exchanges through registered broker-dealers, offering order routing for equities, futures and options across the Americas, Europe and Asia. Credit Suisse’s algorithmic unit, Advanced Execution Services, offers trading algorithms in more than 40 countries across six continents.
“Credit Suisse’s AES brings tremendous global reach and cross-asset capabilities to our platform,” said Rishi Nangalia, CEO of REDI Global Technologies. “REDI continues to leverage the strength of our partners in order to deliver innovative solutions across the trade lifecycle and bring added value to our customers.”
SimCorp Dimension chosen by US-based asset manager
Buy-side technology provider SimCorp will supply Eagle Asset Management with its Dimension investment management solution.
SimCorp Dimension provides front-to-back-office capabilities and includes a high degree of automation for data management, including managing position data across all asset classes, which Eagle will use to consolidate previous data management platforms. Eagle and its affiliates manage US$30 billion in assets for institutional and individual investors.
“Increased regulation, client demand for transparency, real-time reporting and the ability to support and take advantage of new growth opportunities helped guide us to this solution,” said Steven Ballard, vice president of IT at Eagle Asset Management. “We are excited to have a solution in place that is both fit-for-purpose and fit-for-future and that will drive enterprise-wide success for our business.”
Infront targets expansion with senior hire
European trading and market data firm Infront has appointed Urs Rutschmann as COO. He will be responsible for operational aspects of the business including strategy, sales, marketing, product development and client services.
Rutschmann joins from trading platform developer Tbricks where he served as COO, prior to which he held the position of CEO for Actant, an automated quote management solution provider. He has also worked for SunGard Front Arena where he led sales and marketing and also served as COO for SunGard Business Integration.
"Urs' long experience from the financial technology industry and his proven ability to successfully grow businesses makes him a perfect fit for Infront," said Kristian Nesbak, CEO of Infront. "We look forward to working with Urs as we enter a new phase of expansion."
Clearstream offers ETF access through Vestima
Clearstream will for the first time offer participants direct access to an actively managed PIMCO Source exchange-traded fund (ETF) through fund processing platform Vestima.
The PIMCO Covered Bond Source UCITS ETF, which is listed on Deutsche Börse, Clearstream’s parent company, is directly available on Vestima at end-of-day net asset value, which will provide investors with additional access to the fund.
"We are pleased to introduce the first actively managed covered bond ETF, managed by PIMCO, onto our Vestima platform, which currently gives access to more than 125,000 mutual funds,” said Philippe Seyll, head of investment funds services for Clearstream, said. “Our objective is to provide investors with a standardised process for all their fund transactions - from mutual funds to ETFs and hedge funds – by using the same platform."