Parameta Solutions, a provider of OTC indicative and trade data, and Numerix, an OTC analytics and derivatives pricing company, have formed a new partnership to develop automated, independent, fair valuations of OTC derivatives to market participants. With the ability to use Parameta’s market OTC data alongside Numerix’s analytical capabilities, the firms say the partnership is aiming to provide “a cost efficient, differentiated offering to a high growth sector”. The introduction of FRTB meanwhile, has reinforced the need for banks to have access to high quality data in order to accurately mark their OTC positions.   The two firms say they

Stax LLC, a global strategy consulting firm specialising in commercial due diligence, value creation, and exit planning for private equity firms, PE-backed companies, hedge funds, and investment banks, has opened a new office in London, which will serve as the base for the firm’s European operations. The office expansion follows Stax’s acquisition of AMR International, a London-based strategy consulting firm, in 2022. In a statement, Stax president Jayson Traxler, said: “As Stax continues to grow, our new London office is part of our growth strategy to provide value to our private equity, hedge fund, and investment banking clients in EMEA.”

The Depository Trust & Clearing Corporation has launched a new LIBOR Benchmark Replacement Index solution to support the finance industry’s transition from LIBOR benchmark rates to Secured Overnight Financing Rate Data (SOFR) as well as other new fallback rate indices by June 30, 2023. 

Alternative data specialist QuantCube Technology has launched the QuantCube Industrial Production Indicator (IPI) nowcast – providing a daily update on industrial production output in the US. The indicator measures year on year changes in outputs from the manufacturing, mining, electricity and gas industries to provide insights into total industrial production, a key driver of GDP.   

Zodia Custody (Ireland) Limited has been registered as a Virtual Asset Service Provider by the Commission de Surveillance du Secteur Financier and can now provide virtual asset services for financial institutions in Luxembourg. 

Quantile, a provider of portfolio optimisation services, has developed what it says is the market’s first optimised backloading service which, once FX Smart Clearing has been launched by LCH ForexClear, will allow participants to reduce margin and capital requirements by moving FX Forwards and FX Swaps into LCH ForexClear.  FX Smart Clearing is being developed in response to the standardised approach to measuring counterparty credit risk (SA‑CCR), which has significantly increased capital requirements for banks trading FX derivatives. Due to the higher counterparty risk weighting, uncleared FX has a large capital requirement of 20-100%. By moving FX Forwards and FX

OSTTRA, a global post-trade solutions company and a member of the FIA’s Derivatives Market Institute for Standards, confirmed it is working with DMIST members to identify a data standard for post-trade processing of exchange traded derivatives. 

HFR has launched the HFRI 400 (US) Indices, a family of investable indexes tracking private hedge funds and open to US taxable investors, making the HFRI 400 a suitable benchmark for US-based, taxable, high net worth and ultra-high net worth investors.

Horizon Software, a provider of electronic trading solutions and algorithmic technology for the global capital markets, has launched new connectivity to the Singapore Exchange (SGX Group), which operates equity, fixed income, currency and commodity markets.

Bybit, the world’s third most visited crypto exchange, has partnered with Talos, an institutional digital asset trading technology specialist, to provide ‘streamlined’ access to institutions looking to get into the crypto space via the Talos platform. The integration combines Talos’s trade infrastructure solutions with Bybit’s access to a wide array of digital assets and enterprise solutions, including trading execution with precision.   Additionally, this new collaboration will boost real-time liquidity.   Bybit experienced steady growth in market share throughout 2022, claiming the no2 spot in futures and perpetuals trading several times year to date. In January alone, Bybit recorded its