NEWS UPDATE
DATA SELL-SIDE
Goldman Sachs bolsters
Marquee platform with
Bloomberg data Societe Generale deploys
cloud trading system in
prime brokerage revamp
Bloomberg’s reference and pricing data will be
accessible via the new Marquee digital platform from
Goldman Sachs. The swap and cash prime brokerage will be
combined onto a single infrastructure with
Nuvo Prime, as Societe Generale targets
growth of business.
Goldman Sachs has teamed up with Bloomberg to integrate
its reference and pricing data with the bank’s new Marquee
platform for institutional clients.
Marquee is the ‘digital storefront’ of the securities division at
Goldman Sachs, which allows users to hedge portfolio risk and
execute trading strategies across multiple asset classes, along-
side market intelligence, risk analytics and proprietary datasets.
The partnership will see Goldman Sachs become the first glob-
al investment bank to offer Bloomberg’s data through in-house
applications. Marquee users that are also Bloomberg clients
will be able to license and download the data directly from the
platform.
“Through this initiative with Bloomberg, we’re combining our
expertise in financial markets and our unparalleled analyt-
ics with Bloomberg’s premier data offering to better inform
decision making,” said Anne Marie Darling, partner and head
of multi-asset platform sales and Marquee distribution at
Goldman Sachs. “Bloomberg is an industry leader in providing
comprehensive, high-quality and reliable data, and we are
pleased to offer it to our clients through Marquee.”
Marquee services and data is also available via APIs (applica-
tion program interface) to allow clients to power applications
directly with data sources, such as Bloomberg’s data license
fields.
“With increasing efficiency in trading, financial institutions
are looking to use data and technology to offer their clients
more compelling and efficient solutions,” said Gerard Francis,
global head of enterprise data at Bloomberg. “By integrating
Bloomberg’s market leading reference and pricing data with
Marquee, clients will have a seamless data experience across
the platform.”
Goldman Sachs and Bloomberg have a long-standing business
relationship. In 2018, the US investment bank agreed to take
on Bloomberg Tradebook’s equities clients offering electronic
execution under a broker agreement. The deal brought 1,300
new clients to Goldman Sachs, and served as a major driver in
the bank’s equities revenues.
Societe Generale has confirmed plans to implement
a cloud-based swap trading and management
system, as part of plans to boost its prime brokerage
business to grab more market share in an increas-
ingly challenging environment.
The French investment bank signed a seven-year
software-as-a-service deal with Nuvo Prime to
deploy the SwapScale system, which it plans to run
across the prime brokerage division to combine both
swap and cash prime finance onto a single integrat-
ed infrastructure.
“A unified prime services offering will deliver
efficient transactional management and control,
while enabling our clients to express their invest-
ment strategies across products and asset classes
worldwide,” said Charlie Day, head of equity prime
brokerage at Societe Generale. “Nuvo Prime’s high
level of automation and intuitive workflow tools will
greatly simplify our client service and middle office
operations while enriching our client offering.”
Nuvo Prime’s flagship SwapScale platform
operates on Amazon Web Services (AWS) in a cloud
environment, allowing Societe Generale to handle
vast volumes of swap business cost effectively. With
larger capacity for volumes, the investment bank is
looking to expand its buy-side client base with more
hedge funds and asset managers.
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