‘Roxe’ Pitched as a New Way to Clear & Settle
Apifiny, a San Francisco-based global transfer network services provider, has officially debuted a settlement network based on blockchain technology, dubbed Roxe, that has been designed for “instant global clearing and settlement of payments and remittances, traditional assets, and digital assets,” according to the vendor.
The Roxe settlement network is based upon “a shared system of books and records on a permissioned blockchain network. Unlike previous approaches that attempted to enable clearing and settlement via the use of one currency, Roxe is designed to transfer and settle many different assets and asset classes,” vendor officials say. “Roxe is currently designed to support USD and several major digital currencies, with a goal of supporting all G20 fiat currencies and all top 50 digital currencies.”
The Roxe Chain technology requires each transfer to be confirmed by a digital proof of ownership, officials say. “Member nodes from across the globe may execute such settlements without the limitations of local business hours, regional business days, settlement windows, and cutoff times.”
The Roxe network has activated two supernodes, Mercurity Fintech Holding Inc., and Apifiny Asia Pte. Ltd., on its blockchain, Roxe Chain, “to further increase its computational power and drive network value,” officials say.
“The network will activate more supernodes over time … As more banks, trading markets, and cross-border payment and remittance companies become node members on the Roxe network, the speed, operational and cost-saving benefits for each member will grow via classic network effects,” according to the vendor.
MackeyRMS Updates Mobile Application for iOS
The vendor has improved the “work-from-anywhere” capabilities, security, and remote support for MackeyRMS iOS v4.0, officials say.
“All new features will be available for Android devices in July,” according to the vendor. “The new application also expands the capacity to retrieve and consume historical research in offline or online mode with minimal intervention, while also enhancing search features to screen content by name, ticker, or other categories to help users find their research faster.” Mackey iOS v4.0 also offers enhanced biometric security features.
The additional features in the update are:
- Integration of Refinitiv Fundamentals data;
- Improved team collaboration features;
- New image capture capability;
- And enhanced auto-caching combined with updated drafting and syncing.
EDI Introduces Global ‘Net Asset Value Service’
“This service aims to deliver a bespoke database of NAVs to financial institutions,” say officials.
The delivery options for clients include application programming interfaces (APIs), the file transfer protocol (FTP), email support via the following formats CSV, TAB, XLS and TXT, officials say. “EDI’s operations team continuously monitor NAV releases 25/5 and updates clients at a mutually agreed upon time. Additionally, a weekly summary of MIS is made available to the client,” officials say.
ISDA & Aosphere Target Electronic Contracts
Dubbed “diligence — ISDA e-contracts,” encompasses ISDA’s “e-contract opinions and allows ISDA members to rapidly view factors relating to the use of electronic contracts, e-signatures and click-through agreements in an intuitive color-coded web format, including enforceability and admissibility of electronic records in court proceedings,” according to ISDA.
aosphere LLP is an affiliate of an international legal practice, Allen & Overy LLP, officials say.
“aosphere offers a wide range of subscription-based analytical tools that are managed by a senior legal team. The tool is hosted on the aosphere platform, which also hosts other services that analyze ISDA opinions including netalytics and CSAnalytics,” officials add.
“The launch of the service reflects the increasing number of derivatives, securities financing and repo transactions that are being executed and confirmed electronically. The coronavirus pandemic has further heightened interest in e-contracts, with the closure of offices and the introduction of remote working highlighting challenges and inefficiencies associated with the physical delivery of signed paper documents and notices,” officials say.
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