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Riskalyze Expands Connected Trading: Tech Roundup

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What You Need to Know

  • The Riskalyze Trading platform has been integrated into the Interactive Brokers, Apex Fintech Solutions and RBC Clearing & Custody platforms.
  • Broadridge Fi360 Solutions enhanced its Decision Optimizer software for financial advisors.
  • Canoe Intelligence completed an extended funding round.

The Riskalyze Trading platform has been expanded to every financial professional leveraging Interactive Brokers, Apex Fintech Solutions and RBC Clearing & Custody.

Now that Riskalyze’s Connected Trading technology has been integrated into those platforms, over 25,000 financial professionals with client accounts can implement their portfolio decisions with “just a click,” it said.

The “deepening” of the relationship between Riskalyze and enterprise firms across the U.S. has been “spurred on by the demand to provide a seamless trading experience for financial professionals” with the Riskalyze Trading end-to-end account monitoring and trading platform, it said.

Connected Trading is Riskalyze Trading’s enhanced delivery solution that the company said “bypasses custodian trade files by routing trades electronically to the clearing platform and automating allocation of traded securities into client accounts.” Connected Trading is now available with the Riskalyze Trading platform at RBC Clearing & Custody and Interactive Brokers.

Broadridge Fi360 Enhances Decision Optimizer

Broadridge Fi360 Solutions introduced an enhanced version of its Decision Optimizer software for financial advisors on Wednesday.

The enhancement was designed to “support wealth and retirement professionals as they address new requirements” associated with the Department of Labor’s Prohibited Transaction Exemption 2020-02 (PTE 2020-02) that take effect Dec. 20, according to Fi360, which was acquired by Broadridge in 2019.

The enhanced capability was also added to help ongoing IRA rollover and related compliance needs, the company said.

The Decision Optimizer tool was first launched in July 2020 in response to the Securities and Exchange Commission’s Regulation Best Interest, and provides a customizable, turnkey solution to help advisors and home-office clients comply with evolving ERISA plan/IRA transfer regulatory requirements.

Advisors can access PTE 2020-02-specific rollover analysis criteria, plan fee benchmarking data, attestations and home office surveillance of rollover comparisons, “improving workflows to better align with current and future compliance conditions,” the company said.

Separately, Broadridge said Ted Bragg and Jim Kwiatkowski joined its LTX division that offers a new artificial intelligence-driven digital trading platform for corporate bonds. Bragg and Kwiatkowski each have more than 30 years of industry experience and join the LTX leadership team. Most recently, Bragg served as vice president and head of fixed income at Nasdaq and Kwiatkowski served as managing director and global head of transaction sales at the London Stock Exchange.

Canoe Intelligence Completes Funding Round

Canoe Intelligence, a fintech firm offering data management processes for clients including alternative investors and wealth managers, completed an extension of its Series A financing, led by Blackstone Innovations Investments and Carlyle, with participation from existing investor Hamilton Lane, Canoe said Thursday.

Canoe completed its initial Series A funding round in February 2020 and featured investments from participants, many of whom are also strategic partners and advisors, including Hamilton Lane and Nasdaq Ventures.

With the additional funding, Canoe “plans to continue accelerating” the product development of its platform that “brings greater ease and efficiency to the management of data used for alternative investment analysis, accounting, and reporting,” it said.

The company also will expand its product suite to include new tools, functionality and reporting capabilities, and also continue to make alternative investment data available to clients in ways that “further drive value and bottom-line impact,” it said.

Canoe expects to “further expand its presence geographically, and grow its leadership team with top-tier product, development, machine learning and data science talent,” it added.

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