Socium Fund Services, the U.S.-based subsidiary of Suntera Global specialising in private equity, private credit, real estate, and venture capital fund administration, has partnered with Cascata Solutions, a provider of automated waterfall distribution software. Together, they aim to deliver carried interest, management fee, and expense accounting services for Socium’s private fund clients.
Category: FinTech
HSBC to launch digital assets custody service
HSBC plans to launch a new digital assets custody service for institutional clients who invest in tokenised securities. Once live in 2024, HSBC’s new service will complement HSBC Orion, the bank’s platform for issuing digital assets, as well as HSBC’s recently launched offering for tokenised physical gold. The new service does not cover cryptocurrencies or…
DZ BANK launches digital asset custody service
DZ BANK, a BaFin-regulated financial institution and one of the largest custodians and depositary banks in Germany, has launched an institutional digital asset custody offering. Metaco’s Harmonize solution has been deployed as the service platform. One of the first use cases was to onboard a Siemens tokenised bond, in which both DZ BANK and Union…
SimCorp to merge with Axioma
SimCorp, the Deutsche Börse subsidiary, is to merge with Axioma, a provider of factor risk models, portfolio construction tools, and multi-asset class enterprise risk solutions. Prior to the merger with SimCorp, Axioma was part of Qontigo, a subsidiary of Deutsche Börse and a strategic partner of SimCorp since 2021.
NTRS partners with Novata
Northern Trust has agreed with Novata, a fintech that provides ESG data for private markets investments, to provide its data to Northern Trust’s asset servicing clients. Northern Trust recently participated in a Series B funding round for Novata. Novata’s data management solution aims to provide asset owners with a clearer view of the ESG impact…
Accelex raises USD15m
Accelex, a UK-based provider of automation for private markets data acquisition, reporting and analytics, has raised USD15m through a Series A funding round led by FactSet, a financial digital platform and solutions provider, with participation from existing investors Illuminate Financial, AlbionVC, SixThirty Ventures and Expon Capital.
Zodia Markets granted VASP status by CBI
Zodia Markets, the Standard Chartered backed digital asset exchange and brokerage platform, has received its registration as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. This follows on from the firm receiving cryptoasset registration from the UK’s Financial Conduct Authority in 2022 and its in-principle approval by Abu Dhabi Global Markets…
Pirum upgrades recalls service for T+1
Pirum, the UK-based fintech focused on securities finance, has launched a borrower automation solution with its Recalls Manager service, enabling full automation of the recall lifecycle with its first clients well ahead of the introduction of T+1 settlement in the US, Canada and Mexico in May 2024. Pirum is going live with multiple agent lenders…
Arcesium wins treasury mandate
PAAMCO Prisma, an alternatives investment firm, has selected Arcesium, a fund administrator in which J.P. Morgan has a strategic stake, to provide treasury management services through its Treasury Suite. Arcesium’s treasury capabilities will provide enhanced transparency and control over PAAMCO Prisma’s collateral management and securities lending activities. PAAMCO Prisma aims to optimise multi-asset collateral allocation…
BNY Mellon launches new FX service
BNY Mellon has launched Universal FX, a new platform that helps clients manage and centralise their portfolio execution, regardless of the location of their custodian, prime broker or trade settlement bank. Targeted clients include investment managers, corporates, hedge funds and wealth managers. Universal FX builds on BNY Mellon’s OneFX suite of solutions and banking capabilities…