BNP Paribas Expands Use of CobaltFX’s Dynamic Credit to Enhance Market Efficiency and Regulatory Compliance

BNP Paribas has further expanded its use of CobaltFX’s Dynamic Credit solution, to improve the allocation of credit for FX transactions. The move aims to simplify credit distribution among over 100 counterparty banks, and to optimise global credit management across 12 Electronic Communication Networks (ECNs). The initiative is designed to address regulatory and industry concerns, setting a new benchmark for precision and effectiveness in market operations.

The expansion highlights BNP Paribas’s commitment to innovation and efficiency in credit allocation, enhancing market access for financial institutions worldwide. With the integration of CobaltFX’s Dynamic Credit and the newly developed CobaltFX Analytics, BNP Paribas continues to address regulatory concerns, further establishing its leadership in market operations, according to Joe Nash, Head of Global Macro Digital at BNP, who commented: “We see this as an important initiative to address regulatory and industry body concerns about the over-allocation and inefficiencies of credit distribution on dealer to dealer venues. Moreover, this approach, combined with CobaltFX Analytics allows us to right size our limit for each counterparty whilst improving market access with them.”

Darren Coote, CEO of CobaltFX, part of United Fintech, added: “This systemic problem has been long over-looked but there are a group of leaders in the industry that understand the benefits of this unique approach. We are very grateful for BNP’s leadership in this regard.”

Trading Technologies Introduces Access to Abaxx Exchange

Trading Technologies International, Inc. (TT), the capital markets technology platform provider, has introduced access to Abaxx Exchange, the Singapore-based global commodity futures exchange and clearinghouse. The market launched on June 28, with StoneX Financial executing the first trade via the TT platform. Clients can now trade Abaxx’s energy and carbon derivatives contracts using TT.

Abaxx Exchange introduces five new commodity benchmark futures contracts, featuring centrally cleared, physically deliverable contracts. These offerings aim to enhance market participants’ ability to execute energy transition strategies, with improved price discovery and risk management tools in the LNG and carbon markets, with plans to expand into battery metals.

Alun Green, EVP Managing Director, Futures & Options for TT, commented: “We’re delighted to bring our clients access to this unique new marketplace from day one of trading. We’re also a trusted partner to global and regional energy suppliers and commodity firms looking to hedge their risks in both physical and derivatives markets. Abaxx will bring new risk management capabilities with the option of physical delivery or offset through the sale of the contracts before delivery.”

Dan McElduff, Abaxx Exchange President, Strategy & Development, added: “By combining the advanced TT platform with our industry-leading, physically deliverable commodity futures contracts, market participants can now leverage our shared expertise and resources to access the price discovery and risk management tools essential for meeting the commercial needs of the energy transition and unlocking the investment capital required for a low-carbon economy.”

TT recently connected to the European Power Exchange (EPEX SPOT), the largest power exchange in Europe, enabling clients to trade European physical power markets for the first time on the TT platform. This collaboration includes a fully co-located continuous intraday power trading service, developed in partnership with a major European energy supplier.

SIX and Avaloq Launch Independent Valuation Service for Financial Instruments

SIX has introduced an Independent Valuation Service for financial instruments, developed in partnership with Avaloq, the wealth management technology provider. This new service meets the international market demand for end-of-day product valuations from an independent source, aiding in client reporting, risk management, and benchmarking.

The service offers support for asset and risk managers, custodians, and other financial institutions by providing transparent, stable, and simplified valuations, essential for guiding investment decisions, managing risks, and ensuring compliance with complex regulatory requirements, especially concerning securitised derivatives. The Independent Valuation Service, accessible through the CONNEXOR API, allows users to subscribe flexibly to instruments via ISIN requests, ensuring the availability of end-of-day valuations for non-listed structured products.

By integrating valuations and risk figures across financial markets through various pricing engines and real-time data analysis, the service guarantees comprehensive data coverage and cost transparency.

Genesis Global and interop.io Forge Alliance to Enhance Financial Markets Software Interoperability

Genesis Global and interop.io have formed a technology alliance aimed at driving software innovation and developing customised multi-application workflows for the financial markets industry. This partnership facilitates the integration of high-performance front-, middle-, and back-office applications on the Genesis platform with third-party systems using interop.io, enhancing efficiency and reducing risk for financial firms.

Leslie Spiro, CEO and Co-founder of interop.io, highlighted the Genesis platform’s ability to integrate multiple data sources and financial technology systems, commenting: “With interop.io and FDC3, third-party systems that must run on the desktop such as Salesforce or Bloomberg can more easily interoperate with Genesis applications.”

Devry Ross, Head of Partnerships at Genesis Global, emphasised the importance of flexibility between web and desktop applications. “Integrating multiple systems, data sources and trade-related services is a strength of Genesis. Our work with specialists like interop.io and new capabilities in our platform expand how our philosophy of flexibility and openness translates to desktop integrations,” said Ross.

The alliance is further supported by the release of Version 8 of the Genesis Application Platform, which includes enhanced FDC3 support to embed interoperability in applications. Both firms stress the significance of partnerships in advancing interoperability within the finance industry. Through their Partner Programs, Genesis and interop.io aim to optimise productivity, enhance compliance, and create competitive advantages for their clients.

Digital Vega Integrates with FactSet’s Portware to Expand FX Options Trading

Digital Vega, theFX Options e-trading platform, has integrated with FactSet’s FX execution management system, Portware. The partnership aims to broaden Digital Vega’s client base and distribution network, while enhancing FactSet’s product coverage to include FX Options alongside Fixed Income, Equities, Futures, and FX.

FactSet’s Portware platform provides Asset Managers with a unified execution method across all asset classes, offering deep liquidity and high automation levels. The integration with Digital Vega allows clients to automate complex FX Options workflows and access extensive pricing from a broad range of Liquidity Providers.

Mark Suter, Executive Chairman and Co-Founder of Digital Vega, stated: “By partnering with FactSet we are able to extend our coverage to large Asset Managers, which will deepen liquidity for the benefit of all our clients.”

John Marchese, Head of FX Sales at FactSet, added: “As the FX Options market has become increasingly electronic, we wanted to work with a best-in-class e-FX Options provider in that market. Adding FX Options to Portware was a logical decision.”

Toby Baker, Head of FX Trading at T. Rowe Price, a firm that has been using Portware for the  day-to-day cash trading requirements for some time, commented: “Adding Digital Vega’s FX Options liquidity and workflow management into Portware’s EMS to provide a single, fully integrated solution will bring huge benefits to the team.”

ION Enhances Fixed Income Solutions with XTP Execution Integration

ION has successfully integrated its fixed income solutions with XTP Execution (XTPE), extending client access to various futures markets. This integration enables banks and brokers to enhance front-office efficiency and access liquidity across a broader range of venues. ION XTPE, an automated trade workflow solution for cleared derivatives trading, now offers ION’s fixed income clients seamless access to major global exchanges and local markets through a network of execution brokers.

The integration aims to reduce support and infrastructure costs, streamline global trading operations, and provide clients with enhanced connectivity and agility. Tommaso Di Grazia, Head of Fixed Income Product Development, commented: “We are in continuous dialogue with our clients to understand their evolving needs, such as the need for a consolidated trading platform that can transform front-office efficiency. The integration will offer our clients the enhanced connectivity and agility they need to differentiate in a challenging market landscape.”

This move is part of ION’s broader strategy to expand client options and improve internal cost efficiency.

Validus Risk Management Introduces Automated Pre-Trade Checks in TradeView Platform

Validus Risk Management, the independent financial risk advisory and technology firm, has introduced new automated pre-trade checks within its TradeView platform, which aim to streamline risk management workflows and increase operational efficiency. TradeView, designed specifically for private capital managers, now features configurable pre-trade checks to ensure policy conformity, automated prompts for trade deviations, and customisable guardrails for trade flexibility and control. Additionally, trade request rationales and allocation support are now saved for audit trails.

Later this year, Validus plans to further enhance TradeView with real-time Transaction Cost Analysis (TCA) and a liquidity management optimiser, which will aim to support better hedge decision-making and trade allocation. TradeView, part of the broader Validus technology ecosystem, Horizon, integrates seamlessly with RiskView and PortfolioView, providing clients with comprehensive risk management, order workflow, and performance monitoring tools through a single dashboard.

Broadridge Integrates Futures and Options Platform with TNS for Enhanced Market Data and Connectivity

Broadridge Financial Solutions Inc. has integrated its global Futures and Options (F&O) Software-as-a-Service platform with Transaction Network Services (TNS), in a collaboration that aims to simplify market data management and reduce operational risk for clients. TNS, through its mission-critical infrastructure in financial markets, will provide global exchange connectivity for order routing and market data access.

Mike Johnson, General Manager of F&O at Broadridge, highlighted the benefits of the integration, commenting: “With the addition of TNS, futures commission merchants and agency brokers will now have access to simplified, market data while benefiting from reduced implementation costs and improved time-to-market,” adding that this strategic move aligns with the industry trend of firms shifting away from self-hosted trading infrastructure towards more flexible and efficient SaaS-based solutions.

Tom Lazenga, General Manager of TNS Financial Markets, emphasised TNS’s commitment to delivering fast and resilient connectivity solutions, supporting Broadridge’s clients with access to over 130 exchanges across 25 countries.

Infovisa Selects QUODD’s QX Digital Platform for Enhanced Market Data Services

QUODD, the on-demand market data provider, has announced that financial technology provider Infovisa, specialists in trust, wealth management, and retirement solutions, has chosen the QX Digital Platform as its primary market data service. Infovisa will use the platform for end-of-day pricing and reference data, streamlining its middle and back-office operations for wealth management clients.

In addition to market data coverage, QUODD’s QX Digital Platform offers Infovisa integrated digital workflows with security look-up and query capabilities, significantly reducing processing times. The platform’s automation and global pricing data integration were key factors in Infovisa’s decision, enhancing system connectivity and facilitating efficient team-based data management.

ION’s Fidessa Platform Certified for Cash Equities Trading on Bombay Stock Exchange

Financial markets solutions vendor ION has been registered as an Independent Software Vendor (ISV) with the Bombay Stock Exchange (BSE). ION’s Fidessa trading platform has successfully completed the audit process and is now certified for cash equities trading on BSE, adhering to all relevant exchange rules and regulatory standards.

Established in 1875, BSE remains a pivotal institution in the Indian corporate sector with over 5,700 listings. With this certification, BSE exchange members can leverage Fidessa’s comprehensive order management, algorithmic trading, and risk management capabilities. This development supports the growth of Indian capital markets, enhancing trading efficiency and connectivity for top Indian brokers who already use Fidessa for trading outside India.