This Week: Jyske Capital/SimCorp; Vestrata; NICE Actimize/FACEPOINT; Anna/Gleif; SS&C, ING, and more

A summary of some of the past week's financial technology news.


Jyske Capital Extends SimCorp Partnership

Investment management provider SimCorp announced a new agreement with Jyske Capital, the asset management arm of Denmark’s Jyske Bank Group. The firm is extending its use of SimCorp Dimension in the front office, with the addition of its order management solution.

With SimCorp Dimension already in place as the foundation for Jyske Capital’s investment operations, the addition of SimCorp’s Order Manager aims to deliver consolidated and enhanced trade management.

Former JP Morgan Private Bank Leadership Launches Wealth Management Platform 

Vestrata, a fintech company providing integrated investment solutions, has completed a $4 million investment round to bring its proposition to the wealth management and private banking sector.

Vestrata’s proprietary technology platform will deliver a suite of discretionary, advisory, alternatives and environmental, social, and governance investment solutions via an integrated platform.

The Vestrata leadership team includes seven former leaders from some of the largest wealth management institutions in the world. The business is led by Mark Le Lievre, co-founder and CEO, who was previously global head of products and platforms at JP Morgan Private Bank and head of investment content at UBS Wealth Management. The wider management team includes a number of former executives from JP Morgan and other global financial institutions.

NICE Actimize Offers Facial Recognition Technology with Addition of FACEPOINT

NICE Actimize announced that FACEPOINT, a biometric risk screening engine, has joined the X-Sight Marketplace, bringing its facial recognition technology for KYC and watchlist risk screening to the ecosystem. NICE Actimize’s X-Sight Marketplace includes more than 60 technology partners and connects financial services organizations with data, applications, tools and service providers.

FACEPOINT uses facial recognition to disambiguate potential matches, reduce false positive rates and identify emerging threats such as those posed by unnamed persons of interest who are not covered by watchlists. In the context of KYC screening processes, FACEPOINT’s “picture intelligence” maintains a worldwide image database of “people of interest”, and offers a real-time risk mitigation solution with image analysis.

3d Innovations Acquires Investment Data Licensing Advisors

3d innovations, a data management solutions company, announced that it has acquired Charlotte, NC-based Investment Data Licensing Advisors (IDLA), a market and investment data licensing advisory firm serving the U.S. market. As part of the agreement, John White, IDLA principal, will lead the company as newly appointed 3di CEO.

IDLA provides investment managers and other market data consumers with a data solutions program. The team counsels data vendors and exchanges on commercial policy and distribution programs, and provides M&A transaction advice.

Following the acquisition, IDLA and all assets and resources will be absorbed into 3di. 3di will expand with new offices in Charlotte, North Carolina, and Fort Lauderdale, Florida, in addition to existing offices in New York, London and Amsterdam.

Anna and Gleif Add More Territories to Mapping Service

The Association of National Numbering Agencies (Anna) has announced that more jurisdictions have been added to the open source relationship files provided through the certified Isin-to-LEI mapping service. This certified initiative, which Anna has undertaken with the Global Legal Entity Identifier Foundation (Gleif), maps Isins (International Securities Identification Numbers) to their corresponding Legal Entity Identifiers (LEIs).

The collaboration between Gleif, Anna and the National Numbering Agencies (NNAs) was launched as a pilot project in April 2019. Based upon a mapping process established by Anna, the parties have worked to identify how existing workflows could be leveraged or modified for enhanced validation, resulting in Gleif certification. Volumes of Isin-to-LEI coverage have grown to 5.2 million active Isins linked to almost 72,000 unique LEIs.

Twenty-two NNAs have joined the Isin-to-LEI Mapping initiative to date with Isin coverage across 41 jurisdictions, and more NNAs in the pipeline.

The ISIN-to-LEI mapping table is freely available from the Gleif and Anna websites.

SS&C Launches Portal for Blue Sky Laws 

SS&C Technologies Holdings announced the launch of SS&C’s Blue Sky Portal, a cloud-based technology solution to help investment managers comply with state Blue Sky laws. 

The web-based portal is designed to maximize compliance in a scalable way. Key features include an updated information stream for state fee calculations and best practices. An enhanced exemption process for social codes and subsequent sales combined with a comprehensive audit trail provides transparency.

SS&C’s Blue Sky Administration service supports over 70 clients with products that include open-end mutual funds, closed-end funds, private equity and hedge funds.

ING Releases Multiparty Threshold Signing Library To Improve Customer Security

ING has released a version of Multiparty Computation Threshold Cryptography (MPC) that can be used in use cases like digital signatures

Distributed ledger technology provides solutions to achieve decentralized operations, but running a DLT platform securely remains a challenge. One problem in such platforms is the secure management of the keys that are used in the DLT operations. Using MPC, it is possible to overcome the key management problem in DLT platforms, ING says.

An area of MPC, which is called threshold cryptography, facilitates the distribution of a secret key to multiple parties, which eliminates the risks of a single point of failure.

Asteria IM Partners With Amundi For Portfolio Management System

Asteria Investment Managers and Amundi announced that Asteria IM has adopted Amundi Leading Technologies and Operations (Alto), Amundi’s portfolio management system for all of its assets under management. Amundi provides Asteria Alto using cloud technology, as well as operational services such as order execution, middle office and data management.

Swiss-based Asteria IM was created in 2019 with the objective of offering new forms of investment, offering services aimed at making each investment responsible based on social and environmental criteria.

B3 selects Genesis Low-code Application Platform for Brazil’s financial markets

Software provider Genesis has been appointed by Brasil, Bolsa, Balcão (B3), a financial market infrastructure company, to leverage Genesis’ Low-Code Application Platform (LCAP) for Brazil’s financial markets.

B3 practices in corporate governance, risk management and sustainability. Its scope of activities includes the creation and management of trading systems, clearing, settlement, deposit and registration of securities and acts as a central counterparty.

B3 selected Genesis’ LCAP to deliver performant, resilient solutions to address multi-faceted post-trading workflows.

ED&F Man Capital Markets and Vela Partner for US Equities

Vela, a provider of data and execution technology for global multi-asset electronic trading, announced that it is now offering execution services for US equities and equity options.

The new execution capabilities are available on Vela’s low-latency DMA Platform as well as its automated trading and market making front-end, Metro. Market access is offered through ED&F Man Capital Markets; Chicago-based GalNet Asset Management is the first client live on Metro with order routing via ED&F Man Capital Markets.

Through this collaboration with ED&F Man Capital Markets, traders at buy-side firms can access Vela’s low-latency, multi-asset DMA Platform via a single API to support this additional asset class, following its experience in listed derivatives and recent expansion into fixed income. In addition to the DMA Platform, clients will also be able to access the equities market using the Metro trading platform with order routing via ED&F Man Capital Markets as the clearing broker.

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Waters Wrap: Examining ASX’s CHESS do-over

The Australian exchange was the first exchange to be all-in on DLT—and the project failed. Anthony speaks with ASX’s Tim Whiteley to discuss the lessons learned and why he thinks the second attempt will succeed.

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