SimCorp poll finds just 23% of buy-side in North America are confident they have a plan in place for MiFID II compliance.
Both firms target buy-side front office with new order and execution management system.
Australian fund manager Merlon Capital Partners was the first of SimCorp's buy-side clients to trial the OTCX platform.
Areas like fixed income and collateral management are already partly automated, but buy-side faces challenges when automating traditionally manual processes.
Global survey finds 84% of large buy-side firms predict growth in annual revenues.