Risk Focus Shifts Regulatory Wares to Subsidiary

In other FinTech news, an INDATA client embraces the cloud, ACA buys Telavance, and an OTAS Technologies extension targets trade analysis.

Risk Focus Launches ‘RegTek Solutions’

Financial technology vendor Risk Focus has launched RegTek Solutions Inc., a wholly-owned subsidiary that will serve as the new home for the Report-it control and compliance software for global trade and transaction reporting.

The Report-it group includes Validate.Trade, Reportable.Trade, Load.Trade and later this year, Reconcile.Trade, Risk Focus officials say.

“Moving our Report-it business into its own entity will allow us to concentrate on this single-minded mission,” says Brian Lynch, CEO of RegTek, in a prepared statement. “With major impacts like MiFIR, the EMIR Rewrite, SEC SBSR, and SFTR occurring in the next 24 months, we felt this was the right move at the right time.”

Risk Focus, which was launched 12 years ago, describes itself as a specialist services provider of trading, regulatory, risk and cloud-enabling solutions to the global capital markets. The company has offices in New York, London and Riga, the capital of Latvia.

Wealth Manager Upgrades to INDATA’s iPM Cloud

Wealth management firm MacGuire, Cheswick & Tuttle Investment Counsel (MCT), based in Darien, Conn., has moved to the cloud via an upgrade to an offering from INDATA, a software, technology and services vendor for buy-side firms.

MCT officials will be implementing INDATA’s iPM Cloud — Intelligent Portfolio Management platform as a way to improve system performance in terms of speed and scalability compared to its incumbent internally developed. The iPM Cloud also offers disaster recovery and business continuity planning (BCP) capabilities in line with industry best practices.

MCT, which has been a long-standing INDATA client, upgraded to the iPM Cloud on January 17, 2017, officials say

The iPM Cloud provides MCT with “mobile-friendly responsiveness, advanced performance improvements and better connectivity to third-party systems” due to INDATA’s infrastructure, according to vendor officials.

“We are very pleased with our decision to migrate to iPM Cloud,” says Susan Brewer, a partner with MCT, in a statement. “Having a private, cloud-based infrastructure allows us to focus on our business of investing without worrying about IT concerns. Our iPM Cloud solution is also faster, mobile-friendly, and better connected to the third-party systems we use than the in-house deployment we had before.”

ACA Compliance Group Acquires Telavance

ACA Compliance Group (ACA), a vendor of compliance, cybersecurity, performance, and technology solutions to financial services firms, has acquired Telavance to “greatly expand” its offerings, officials say. Telavance provides anti-money laundering (AML) risk reviews and related regulatory compliance services and software solutions.

Financial details about the transaction were not disclosed but officials did say that Telavance will be part of a new division of ACA “focused on AML risk strategies and financial crime.” Telavance’s founders Salvatore Cangialosi, Gokul Kallambunathil, Rama Pappu, and Mahesh Viswanathan, along with Telavance’s existing staff, will join ACA, officials say. The company was launched in 2010.

The new division staff will focus on risk assessment and mitigation, remediation of regulatory actions, model risk management, fraud rules assessments, NYS DFS 504 compliance, AML software system enhancements and optimizations, and transaction reviews and “look-backs,” officials say. Telavance’s client base is primarily centered in the banking industry.

OTAS Launches Natural Language Extension for Trade Analysis   

OTAS Technologies (OTAS), a market analytics and trader intelligence vendor, is debuting Intraday Lingo, an extension of its Lingo natural language reporting technology, officials say.

The OTAS Intraday Lingo offering “pairs Lingo’s automated natural language with their microstructure charts to provide a textual report identifying intraday moves and alerts, both in real-time and historically,” officials say. The tool provides analysis for pre-trade, in-trade and post-trade processes, which can yield insights to traders and compliance departments.

The new offering will address “best execution post-trade analysis requirements relating to MiFID II,” vendor officials say. “With this innovative solution to the MiFID II compliance problem, both traders and risk officers alike can quickly and easily access OTAS Intraday Lingo reports, which summarize important events from the trading day for a security. Additionally, OTAS Intraday Lingo provides standard TCA metrics and includes the context of the market dynamics over the life of the order, making it easier to understand the whole situation, including out of the ordinary occurrences.”

OTAS Intraday Lingo is already live for European and U.S. markets and will extend to Asia soon, officials add.

 

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