B-next Launches CMC:Cloud via Elektron

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CMC:Cloud is available via the Elektron network, from Thomson Reuters.

Surveillance and compliance technology vendor b-next has launched its CMC:Cloud solution for financial institutions, via the Elektron network from Thomson Reuters.

The solution, which will offer the b-next CMC:Suite on a software-as-a-service (SaaS) basis, will provide investment banks, brokers, multi-lateral trading facilities, asset managers, hedge funds and private banks with a new alternative to on-premise only installations.

The evolving market and changing regulation has caused capital markets firms to request compliance as a cloud solution for risk and compliance management activities. Use of the CMC:Suite via cloud will allow firms to deploy European Securities and Markets Authority (ESMA) and Securities and Exchange Commission (SEC) insider dealing and market manipulation controls quickly and efficiently, from both local and central locations.

Out-of-the-cloud delivery is particularly attractive for small- to medium-sized institutions as it enables these to employ state-of-the-art compliance software structured around current industry best practice without upfront investment for hardware, and without the staffing requirements to run and maintain the system. As hosting and maintenance occurs on the Thomson Reuters Elektron platform, costs remain low.

Wolfgang Fabisch, CEO at b-next, says the significant interest and uptake in cloud compliance solutions is a real milestone for the industry and they are confident that the combination of b-next's technology, on Elektron, backed by reliable and experienced implementation and support teams, will help market participants rise to the challenges in the capital markets.


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