In other news, ANZ appoints its first CTO, CME Group focuses on voluntary carbon markets and SIS Software Factory embraces e-commerce.
Liquidnet offers a direct link with syndicated banks
Agency broker Liquidnet is focusing on the corporate bond issuance process through a new feature that aims to bring straight-through processing to the front to middle office workflow.
The new feature of the Liquidnet Primary Markets service helps investors communicate directly with syndicated banks through their Order and Execution Management System (O/EMSe) “as part of the bookbuilding process, before a obligation is priced and allocated,” officials said.
The new feature “builds on the Liquidnet Primary Markets feature launched in September last year, which allows bonds to be created in the O/EMS early in the syndication process using an identifier early pre-ISIN,” according to Liquidnet.
Buy-side members of Liquidnet can send orders “directly from the O/EMS to the syndicate’s banking group.” Charles River Development (CRD) is one of the first to deploy the functionality that accommodates this workflow,” officials say.
“As record issuance continues in the corporate bond markets, the integration with Liquidnet Primary Markets will provide simplified access to new issuance for our institutional clients,” said Vidya Guruju, CFA, senior product manager, Charles River , in a prepared statement.
The announcement “brings us one step closer to achieving our vision of electronicizing the full life cycle of a bond,” Mark Russell, global head of fixed income at Liquidnet, said in a prepared statement. “We want to improve the capital markets ecosystem for all participants, and we are open to collaborating with existing and emerging technology providers in this space.”
The desire to electronicize the life cycle of a bond is welcomed by buy-side clients.
“Providing key information on a new bond issue early on allowed us to implement this bond in our OMS much earlier, facilitating more effective collaboration between our investment team and our dealing desk,” says Paul Squires , head of EMEA Equity Trading and Henley Fixed Income at Invesco Asset Management, in a prepared statement. “More electronic communication with the union group will free up valuable time and resources for us,” says Squires.
Liquidnet’s global institutional investment network includes more than 1,000 institutional investors overseeing $33 trillion in equity and fixed income assets, officials said. The network covers 46 markets and connects institutional brokers, investment banks, exchanges, alternative trading platforms, and data and research providers. Liquidnet Holdings and its subsidiaries are part of TP ICAP Group plc.
ANZ promotes its first CTO job
ANZ has promoted Tim Hogarth from chief architect to chief technology officer (CTO) of the Australian multinational bank, officials say. Hogarth will report to Gerard Florian, who is ANZ Group Technology Executive.
Hogarth, who has already taken over as CTO, is responsible for aligning ANZ’s technology projects with the bank’s business plans and will continue to oversee ANZ’s technology architecture, officials said.
“He will also continue to drive continuous improvements in engineering and further expand ANZ’s evolution towards common technology platforms,” according to an official statement from ANZ.
At ANZ, Hogarth served as chief architect from September 2020 to February 2022, and prior to that role as head of the architecture center of excellence from September 2019 to September 2020, according to his LinkedIn page. Prior to ANZ, he was at TD Bank where he served as Vice President of Framework and Innovation Strategies.
CME Group launches emissions offsetting futures offering
Derivatives exchange company CME Group will launch CBL Core Global Emissions Offset (C-GEO) futures contracts on March 7, 2022, with the aim of providing a risk management tool that will facilitate standardized benchmarks for voluntary markets carbon, officials said.
The CBL C-GEO futures contracts, which will require regulatory approval, “are intended to align with the Carbon Core Principles, an emerging set of transparent and consistent standards regarding the provision of carbon credits that will be overseen by the Council of ‘integrity for voluntary carbon markets’, according to CME Group officials.
“C-GEO futures contracts were developed in conjunction with the Xpansiv CBL market. The contract will enable the physical delivery of energy, renewable energy and other technology-based voluntary carbon offset credits that meet quality and integrity criteria based on the carbon fundamentals,” according to CME Group. .
“As our clients closely follow the implications of Article 6 and other developments in this area, we are responding to the demand for scalable market-based solutions that will enable them to execute their mitigation strategies more effectively,” says Peter Keavey, Global Head of Energy. and Environmental Products at CME Group, in a prepared statement.
The CBL C-GEO futures offering adds to the CBL GEO and N-GEO futures, which CME Group launched last year.
Officials add that CBL C-GEO futures will be listed and subject to NYMEX rules. More information is at: www.cmegroup.com/c-geo.
SIS Software Factory Launches eCommerce Consulting
The Miami, Florida-based SIS Software Factory is expanding its consulting services to focus “like its niche, on the e-commerce space,” officials said.
“SIS Software Factory comes to the fore to challenge the status quo by offering integrated trading solutions,” according to a company statement.
The provider offers consulting services to help companies with high-frequency trading, low latency and arbitrage, quantitative research and qualitative development, officials said. The advice will also help businesses with futures and commodities, cryptocurrencies, CFDs, forex, stocks, fixed income and derivatives.
In addition, SIS Software plans to offer operations and customer service solutions, beginning with a focus on order management systems, officials said.
“SIS Software intends to create real-time order management systems and order books. In this, all order activities and related data will be managed. Additionally, SIS will provide Smart Order Routing or SOR solutions. These will help improve execution efficiency and reduce market impact,” the officials add.
The company will also provide framework solutions to test trading ideas in the market. From stocks and currencies to futures and derivatives, SIS will provide a robust set of tools to enable the research team to work efficiently,” the officials say. SIS Software Factory offers three packages: the Standard Package, the Starter Package, and the Enterprise Package.