FIA Tech, the exchange-traded derivative industry technology provider, is partnering with Symphony, the markets’ infrastructure and technology platform to improve data query workflows in capital markets.
FIA Tech will “integrate its Databank Network into the Symphony platform through the introduction of a new FIA Tech Bot, providing access to golden source data sets including contract specifications, exchange fees, position limits, cash and collateral management data, clearinghouse calendars, and corporate actions through queries.”
The bot will be “live from Q2 2023.”
FIA Tech’s Databank Network aims “to bring together independent software vendors (ISVs), exchanges, clearing houses and other data providers into an interoperable global network simplifying the use of reference data, analytics and software solutions from participating firms.”
The network “unifies reference data from over 80 exchanges and central counterparties (CCPs) globally, leading index providers including FTSE, MSCI, S&P and STOXX and ISVs CQG and TT.”
The bot will be “accessible on Symphony, allowing mutual customers to integrate the datasets into workflows and applications, accessing the data via interaction with intelligent chatbots.”
End-users can “build and save queries against their available data sets, as well as create scheduled notifications against these and changes to underlying data sets.”
In 2022 Symphony “acquired Amenity Analytics, a natural language processing (NLP) data analytics solution driving actionable insights to portfolio managers, research professionals, analysts and other financial markets participants.”
FIA Tech and Symphony plan “to integrate Amenity’s offering into the FIA Tech bot later in 2023.”
Nick Solinger, president and CEO at FIA Tech, said:
“This partnership will greatly enrich the user experience for FIA Tech clients and will facilitate collaboration across our combined user base. We are pleased to be working with Symphony removing hurdles inside and between institutions.”
Symphony CEO Brad Levy said:
“We are excited to have FIA Tech on Symphony to serve such a relevant community within financial services. Symphony is currently serving more 600,000 financial professionals globally and becoming more relevant everyday as volatility increases in the market and efficient, instant and compliant communication grows in importance.”
As noted in the update, FIA Tech claims it is “the leading technology provider to the exchange traded derivatives industry.”
Owned since 2021 by a consortium of ten leading clearing firms and the Futures Industry Association, FIA Tech will be “investing to further the development of existing products that have successfully served the industry and launch innovative new solutions to improve market infrastructure across the listed and cleared derivatives industry.”
FIA Tech works “in close partnership with the broader industry, including exchanges, clearinghouses, clearing firms and other intermediaries, independent software vendors, buyside firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.”
Current FIA Tech services “include digitally managing give-up agreements, meeting regulatory compliance requirements arising from CFTC, MIFID II and exchange regulatory compliance, reconciling and settling brokerage fees and providing reference data products that are required across the pre- and post-trade space in futures and equity options.”