FactSet (NYSE:FDS), a global provider of integrated financial information, analytical applications, and services, announced today a strategic relationship with CG Blockchain, a developer of blockchain technology for the investment industry.
Through this relationship, FactSet clients will have access to CG Blockchain products through its BCT Fundstore. CG Blockchain’s current and future clients will also use FactSet’s industry-leading Portware execution and order management capabilities, delivered as FactSet OEMS, for trade execution, analysis, order generation, and compliance efforts.
FactSet OEMS is a configurable, “thinking” order and execution management system designed to act as the central platform for the creation and execution of trading strategies across asset classes.
As an extension of CG’s current product, ComplianceGuard, BCT Fundstore offers a suite of blockchain apps built upon a robust compliance framework.
The combination of FactSet’s OEMS solutions and CG Blockchain’s Fundstore brings to market one of the first times blockchain technology is directly integrated with an OEMS for real-time, persisted, immutable recording of transactions to a distributed ledger—helping investors achieve new levels of transparency and security.
Hedge funds and asset managers are looking to adopt disruptive technologies; meanwhile, global regulatory authorities are demanding increasing levels of transparency and accountability to protect the end investor. It is critical for established technology partners like FactSet to continue to evolve our solutions to both meet current client needs and set the standard for future technology initiatives globally,” said John Adam, Senior Vice President, Global Head of Portfolio Management and Trading Solutions, FactSet. “CG Blockchain has harnessed a new, innovative technology that raises the bar for compliance. The integration of Fundstore and FactSet OEMS will offer institutional investors visibility and timeliness that was previously unavailable from a third party.
This is an extremely exciting initiative that I believe is nothing short of transformational,” added Bob Bonomo, President, CG Blockchain. “This mutually beneficial alliance plugs FactSet into the multi-hundred billion-dollar blockchain market that is currently experiencing exponential growth—and it gives FactSet clients access to institutional-grade blockchain-based apps and tokenized ecosystems. Each of these factors positions FactSet for increased market share and places it at the forefront of this industry segment.
Why does this matter?
- CG main product Compliance Guard: Provides compliance monitoring of the OMS/EMS Portware product for all terminals which is owned by Factset. 80K+ traders
- The Compliance Guard blockchain monitoring functionality enables the institutional trading community the ability to trade blockchain-based tokens and crypto-currencies.
- Institutional Client base ($16T in AUM) receives a Compliance Tracking Tool that is written to the blockchain and cannot be changed since there are Compliance risks for Institutions that can result in altered tracking with current tools and violations are not reported properly. CG removes that risk by writing all monitoring activity to the blockchain, which can not be altered.
- Institutional Client Base also receives ACCESS to the FUNDSTORE, which is an APP Store for professional grade data, analytics, and most-importantly EXECUTION (BUY AND SELL BUTTONS) across over 65 major Cryptocurrency exchanges.