Omgeo adds LEI field to global database
Solutions provider Omgeo has updated its web-based global database to include fields for the Legal Entity Identifier (LEI).
Omgeo ALERT, used for maintenance and communication of account and standing settlement instructions, will now have entity- and fund-level fields and data.
LEIs contain the legal name and other basic information of a counterpart to a financial transaction. The Depository Trust and Clearing Corporation (DTCC), which runs Omgeo with Thomson Reuters, and financial messaging provider SWIFT have been jointly charged with collecting, maintaining and assigning Interim Compliant Identifiers (CICI) by the Commodity Futures Trading Commission. LEI rules have not been finalised worldwide.
Omgeo has partnered with Avox, another DTCC company, to provide an automated feed that populates legal entity data in ALERT. To date, 900 entity CICIs have been automatically added.
"Clients can now use legal entity data in ALERT to gauge their level of exposure to an entity, as well as their aggregate exposure to a parent," Bill Meenaghan, global product manager for ALERT at Omgeo, said.
MarketPrizm supplies data and access for NASDAQ OMX NLX
Data provider MarketPrizm will begin to supply market information and execution connectivity across Europe for NASDAQ OMX's new trading platform NLX.
NLX, a new London-based derivatives market, would offer both short- and long-term interest rate and euro and sterling based listed derivatives, subject to Financial Conduct Authority approval.
MarketPrizm plans to provide data and order entry for NLX members at primary site Equinix LD4, secondary site Interxion BrickLane and anywhere in Europe using its own PrizmNet.
NLX members can also use PrizmNet for their post-trade clearing connectivity to LCH.Clearnet or their general clearing members.
"NLX are pleased that MarketPrizm will offer their customers access to the NLX market for market data and execution connectivity," Carl Slesser, CTO at NLX, said.
IPC Systems opens collaboration on Unigy platform
Trading technology provider IPC Systems has launched a program to help vendors and clients collaboratively develop trading workflow applications using the firm's development platform Unigy.
The Affinity Partner Program (APP) is an open development environment that lets firms integrate communications, data and analytics to improve workflow and simplify compliance. This includes productivity tools for traders and customised applications.
"The financial industry is moving toward a model favouring more open and integrated systems and IPC's APP opens the door for market leading vendors to fully leverage the opening of the Unigy platform to develop innovative and powerful applications," said Mark Miller, vice president, product management, IPC.
Lucena Research launches trading strategy tool
Investment technology provider Lucena Research has released a trading strategy simulator to help firms test strategies over critical market periods.
The QuantDesk Back Tester is part of the cloud-based QuantDesk platform and will include extensive historical data to test against.
"Investors today need a comprehensive set of tools that can help them design a wining investment approach and assess its true value," said Erez Katz, co-founder and CEO of Lucena. "QuantDesk Back Tester allows our clients to historically validate their strategies by simulating execution as if the were trading in the past, and comparing those projected outcomes against actual performance."
Buy-side concern over increased data management
Two buy-side focused surveys have shown trepidation among institutional investors of dealing with the growth of data management.
A poll taken by data quality management firm MoneyMate found 85% of respondents would be investing in more fund data management this year, while 69% of respondents cited regulation as the key driver.
Meanwhile, research by consultancy Investit included in a paper published by investment solutions firm SimCorp has shown 60% of buy-side firms polled are concerned about their ability to support data management growth.
"Investment management firms are starting to grasp the importance of defining and establishing a governance framework to ensure delivery of a cost-effective, flexible, scalable and sustainable data management solution," said John Robertshaw, author principal at Investit. "Data governance can be a major contributor to aligning and improving an enterprise-wide dialogue in data."