FISD Newsletter – March/April 2024

A Deluge of Events

The saying is April showers bring May flowers, but we have a proper storm of upcoming events! This month features a special Alternative Data Council event in New York City on April 9, FISD Australia Constituency Meeting in Sydney on April 16, and in Madrid on April 17. Registration for all four events is still open. We are at capacity and running waitlists for Alt Data Council in New York on April 9 and FISD Toronto on April 17.

Say Hello to Our New Team Members

The FISD Team is thrilled to announce two new team members. Meet:

Adam Stanton, Manager, Professional Development

Adam Stanton is leading our professional development programs. Adam has been working in Learning and Development for over a decade with previous background in the healthcare sector. Adam brings a data-driven approach, and produces real-world business results through professional development opportunities. In addition to his MBA from The University of Illinois, Adam has a BS in Zoology from the University of Liverpool, and is a certified instructor of several professional development programs. Adam believes strongly in the impact of the FISD Professional Certifications and is committed to enhancing professional opportunities within the Financial Information Industry.   

Rachel Mauney, Program Coordinator, FISD 

Rachel Mauney recently graduated from Lenoir-Rhyne University in North Carolina with her Bachelor of Arts in Music. A newcomer to the market data industry, her experience lies in social media marketing and event coordination for the American Pops Orchestra. She will be helping with marketing, event coordination, and handling all your World Financial Information Conference questions. In addition to her administrative capabilities, Rachel is also a professional opera singer!

AsiaFIC Lineup Announced

This week, we announced our AsiaFIC speaker and topic lineup. It is a star-studded lineup, giving insights and actionable steps on topics like AI, Cloud, Carbon Markets and more. We’re continuing to build the program and announce more speakers but we really, really don’t want you to get FOMO! Take a look and register today for AsiaFIC 2024 in Singapore May 28 – 29. 

SIIA/FISD Dues Increase

SIIA has announced a 5% dues increase for all members (including FISD members).  The change was approved by the SIIA Board in January, and will go into effect on July 1, 2024.  It will affect membership terms that begin on or after that date. (If your current term ends June 30, 2024 or later, the change will be in force for your next renewal.)  For FISD members this will be the first dues increase in 4.5 years.  During that interval, U.S. CPI has gone up about 19%, and FISD has seen commensurate cost challenges related to staffing, travel, and especially event venues.

Video Library

Did you know FISD has a members-only video library where you can view the events and webinars that you might have missed? We have the full program from the London Tech Forum, FISD Netherlands and Decoding COEs this year (plus tons from years past!)

MEMBER NEWS

JOB BOARD

NEW MEMBERS

Blue Ocean Technologies, LLC

Blueshift Financial Technology

CanDeal Data & Analysis (DNA)

Capital Fund Management S.A.

Connor, Clark & Lunn

Equiduct

EuroCTP BV

ITRS Group Limited

Microsoft Corporation

National Commodity & Derivatives Exchange Limited

Norm Ai

Polygon.io

QUODD Financial Information Services

QuoteMedia

The Innovation Engine

2024 Global Sponsors

Five Arrows Acquires Rimes from EQT

Five Arrows Acquires Rimes from EQT

  • EQT, together with its shareholders, to sell Rimes to Five Arrows
  • Partnership provides foundation for accelerated global expansion of Rimes’ enterprise data management and investment management platform solutions

NEW YORK AND LONDON – 9 April 2024 – Rimes, a leading provider of EDM (enterprise data management) -as-a-Service and investment platform solutions to the global investment community, today announced that it has entered into an agreement to be acquired by Five Arrows, the alternative assets arm of Rothschild & Co. The investment has been led jointly by the Five Arrows Long Term Fund (“FALT”) and Five Arrows Principal Investments (“FAPI”), together “Five Arrows”. Five Arrows targets category‑leading B2B data and software sectors across a focused set of end‑markets including financial technology.

Founded in 1996, Rimes is a trusted partner to asset managers and asset owners worldwide, with its customers representing more than USD 75 trillion  in global assets under management. Today, Rimes serves 60 of the world’s top 100 asset managers, as well as the 10 largest asset servicers in the world. Powered by its proprietary, multi-tenant cloud technology platform, Rimes’ data management solutions empower its clients to make better investment decisions using reliable data, while improving cost efficiency and reducing operational risk.

In October 2021, Rimes further complemented its product offering with the acquisition of Matrix IDM, which added a powerful Investment Management Platform and data distribution and warehousing solutions. Today, Rimes is well-positioned to facilitate its customers’ strategic operating model transformations and to power AI-led investment strategies.Brad Hunt, CEO of Rimes, commented, “Rimes has been on a significant growth trajectory over the last few years, and I am really proud of what our team has achieved. Today, Rimes combines the customer-centric ethos and deep domain expertise that has differentiated us since 1996 with the industry’s most modern technology and an innovative, comprehensive product offering designed to address the investment data challenges of the future. This transformation would not have been possible without the support of EQT and our Board, and I would like to thank them for the highly successful partnership. We look forward to joining forces with Five Arrows to build upon our strong momentum going forward.”

Seif Khoufi and Constantin Sabet d’Acre, Managing Director and Director of FALT, said “The Rimes team impressed us with their ambitious vision and their strong track-record of growing and scaling Rimes in a deeply customer-centric way. This is evidenced by industry-leading levels of customer satisfaction, and a history of solving a growing share of painpoints for customers through continuous innovation. We are confident that Rimes is uniquely positioned to continue to support its customers’ expanding needs.”

Vivek Kumar and Sacha Oshry, both Partners at FAPI added, “We are delighted to be partnering with Brad and the team to unlock the next chapter of Rimes’ growth. We share in Rimes’ strategic vision centered around solving financial institutions’ most complex data problems across geographies, asset classes and customer types. We are thrilled to have the opportunity to support Rimes.”

Rob Maclean, Partner within EQT Private Equity’s Advisory Team, said, “We were delighted when co-founder Christian Fauvelais chose to partner with EQT to pursue our shared vision of transforming it into a global leader in EDMaaS solutions for the investment industry. It has been a pleasure working alongside management, and the entire Rimes team to accelerate the Company’s growth.” Patrick McBride, Director within EQT Private Equity’s Advisory Team, added, “We believe Rimes has an incredibly bright outlook and is well-positioned to continue to deliver for its clients. We are grateful to have had the opportunity to partner with such an innovative and talented team and we are confident that they will continue to be successful with the support of Five Arrows.”

The transaction is subject to customary regulatory approvals and is expected to close in the coming months.

EQT and Rimes were advised by Evercore (corporate finance) and Latham and Watkins (legal). Five Arrows was advised by Jefferies (corporate finance) and Shoosmiths (legal).

– ENDS –

 

About Rimes

Rimes provides transformative enterprise data management solutions to the global investment community. Driven by our passion for solving the most complex data problems, we provide our clients with investment intelligence that powers more than USD 75 trillion in AUM annually. The world’s leading institutional investors, asset managers and service providers rely on Rimes to help them make better investment decisions using accurate information and industry-leading technology. For more information, please visit www.rimes.com.

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has EUR 26 billion AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg. With over EUR 9 billion of assets under management, the corporate private equity business of Five Arrows is focused on investing in companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology‑enabled business services and healthcare. For more information, please visit www.rothschildandco.com/en/five-arrows/corporate-private-equity

 

About EQT

EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

Preparing For DORA – CJC Achieves Cyber Essentials Certification

Preparing For DORA – CJC Achieves Cyber Essentials Certification

 

CJC Bolsters Cyber Security With Cyber Essentials Certification

London, 25 March 2024 – Crown Jewels Consultants (CJC), the leading market data consultancy and professional services provider, is glad to announce it has achieved the “Cyber Essentials” certification. CJC was assessed to have met the Cyber Essentials implementation profile, with ICT defences deemed satisfactory against a commodity-based cyber-attack.

The Cyber Essentials certification is a UK government-backed scheme to help organisations protect themselves against cyber-attacks. The certification process covers a range of technical controls, including secure configuration, access control, malware protection, patch management, and incident response.

See CJC’s ICT Security Standards at: https://cjcit.com/standards/ict-security-standards/?utm_source=Marketing&utm_medium=CyberEssentialsPR

The Cyber Essentials certification is also relevant to the EU’s DORA regulation (Digital Operational Resilience Act), which aims to improve the digital operational resilience of financial institutions and their critical infrastructure providers. DORA requires relevant organisations to implement robust cyber security measures to safeguard and protect against cyber threats and attacks.

Peter Price, Global Head of Internal Services & Cloud Operations, said, “As part of our continual efforts to strengthen our cyber security measures, we have implemented rigorous controls and procedures to ensure that we meet the highest data protection standards. A directive at CJC is to ensure our security is frequently tested against various national and international benchmarks. The Cyber Essentials certification was selected to ensure and demonstrate that CJC met and exceeded the demands of ISO 27001.

Gina Wee, Chief Information Officer at CJC, commented, “CJC understands the importance of cyber security. Cyber threats and attacks are increasingly common, and it is essential to proactively protect all data and systems. The Cyber Essentials certification is a valuable milestone that demonstrates how CJC is doing everything possible to keep our client’s data safe.”

Pete Williams, Chief Technology Officer at CJC, added “We are committed to ensuring CJC is DORA compliant. The Cyber Essentials certification is a great step forward that transparently informs our clients of our intent to bolster confidence in our priorities.”

– End –

For More Information Contact:

The Communications Team

Tel: +44 (0) 203 328 7600 | Emailmarketing@cjcit.com

About Crown Jewel Consultants (CJC)

CJC is the leading market data technology consultancy and service provider for global financial markets. CJC provides multi-award-winning consultancy, operations support (OaaS), cloud solutions, and professional services for mission-critical market data systems. CJC is vendor-neutral and ISO 27001 certified, enabling CJC’s partners the freedom to focus on their core business.

About Cyber Essentials – National Cyber Security Centre

Cyber Essentials is an effective, Government-backed scheme that will help you protect your organisation, whatever its size, against a whole range of the most common cyber-attacks. Cyber-attacks come in many shapes and sizes, but the vast majority are very basic in nature, and carried out by relatively unskilled individuals. They’re the digital equivalent of a thief trying your front door to see if it’s unlocked. Our advice is designed to prevent these attacks.