Blogs Archives - BornTec

BornTec Divests Managed Hosting and Colocation Business in Deal With TNS

by Chris Haworth | April 25th, 2023 | Blogs, Press Release,

Acquisition ensures seamless integration with uninterrupted colocation services and enhanced mission-critical connectivity

RESTON, Va.–(BUSINESS WIRE)–Transaction Network Services (TNS) and BornTec today announced TNS’ acquisition of BornTec’s managed hosting and colocation business. This acquisition continues TNS’ expansion of its global connectivity footprint and builds on previous acquisitions.

For BornTec, the move was strategic. “This divestiture allows us to sharpen our focus on our industry-leading CrossCheck trading data analytics platform, bringing us to the forefront of at-trade and post-trade operational resilience, data intelligence and automation,” said Derek Haworth, CEO of BornTec.

“We’re extending our reach and connectivity with the same white-glove service and single-source support that BornTec’s customers expect”

For TNS, the acquisition expands mission-critical connectivity for TNS’ diverse customer portfolio of exchanges and trading venues, buy- and sell-side institutions, market data vendors, software developers and cloud service providers around the world.

“We’re extending our reach and connectivity with the same white-glove service and single-source support that BornTec’s customers expect,” said Tom Lazenga, General Manager, Financial Markets, TNS. “BornTec is a capital markets visionary, and this acquisition fits seamlessly into TNS’ managed hosting strategy that we embarked on five years ago.”

In 2019, TNS augmented its financial services footprint with the first globally deployed Layer 1 ultra-low latency trading infrastructure. Today, TNS is committed to continuing to scale its capabilities and global presence as evidenced by this acquisition.

“We vetted several acquirer candidates, and, with TNS, we found a partner that shares our customer-centric values,” added Haworth. “We’re confident that our managed hosting customers will be well served within TNS’ global colocation infrastructure.”

BornTec’s managed hosting customers will receive uninterrupted service, and they will also have the opportunity to upgrade to TNS’ Layer 1 connectivity with ultralow 5-85 nanosecond latency for unparalleled trading access within the TNS global exchange community. The transaction closed on March 21, 2023.

TNS brings together over 2,800 financial community endpoints, supported by a global, 125-strong point-of-presence footprint. Specifically designed and engineered to address the needs of financial market participants worldwide, TNS offers a range of connectivity, colocation, cloud, market data and VPN solutions within its IaaS portfolio. Its solutions are monitored 24x7x365 by TNS’ Network Operations Centers in the US, UK, Australia, and Malaysia. For further information visit tnsfinancial.com.

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BornTec’s 2022 Year End Recap

by Chris Haworth | December 18th, 2022 | Blogs, Press Release,

BornTec had an incredibly successful year in which we achieved significant growth and development. The company was able to attract a large number of new clients, which helped to increase revenue significantly. This growth was due to the company’s commitment to providing excellent service and developing innovative solutions to meet the needs of their clients. The company’s dedication to customer service was evident in their continued success in attracting new business.

In addition to our success in attracting new clients, BornTec also made significant progress in furthering the development of Surveillance Compliance and Regulatory Reporting. These are two critical areas for the financial services industry, and BornTec’s commitment to improving our solutions in these areas has helped them to become a leader in the industry. The company’s focus on innovation and technology has allowed us to develop solutions that are both effective and efficient, which has helped gain a competitive advantage over competitors. Overall, BornTec’s successful year can be attributed to the focus on customer service and innovation, which has allowed them to grow and develop in a challenging market.

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The World of Data Automation

by BornTec Team | September 16th, 2022 | Blogs, Data Management,

Automation is a powerful tool in any industry, as it can save time, reduce errors and allow employees to focus on more relevant tasks. The use of data automation can streamline and aggregate multiple types of data, allowing for meaningful outputs.

Automating the collection, processing and reporting of data is known as Data Automation. It is used to generate reports and alter or analyze data – in some instances automating decision making processes. Data automation goes hand in hand with business intelligence (BI) which helps organizations make better decisions by providing them with accurate and insightful information at the right time.

Data automation can help you reduce time spent on repetitive tasks, decrease errors, and increase productivity.

Improved resource allocation. Reducing the time employees spend on repetitive tasks, such as entering data from a spreadsheet into an ERP system.
Mitigating risk through error reduction. Data is often entered incorrectly when manual processes are involved in the collection of information. The more complex a process is, the more likely it is that errors will occur. Automation helps eliminate these errors as it reduces human error by simplifying processes and eliminating any room for mistakes in their execution. Automation also enables organizations to use fewer resources while achieving greater results.
Improved reporting capabilities. Automated generation of consistent, complex reports alleviates the reliance on human capital to produce reports.
Increase the quality of results. Automated software is able to analyze patterns and trends in much greater depth than humans can do alone (while being more cost-effective).

Investing in data automation tools for your business through BornTec

CrossCheck by BornTec is a powerful tool that allows firms to manage transactional data efficiently, enabling easy data acquisition, event monitoring, and data analytics.

Our SaaS platform enables easy distribution across risk, compliance, front and back office, and the C suite; giving your entire organization visibility into the same data in the format they need.

Through data normalization, enrichment, and automation we can seamlessly transform data for easy visibility, automate reporting, and provide insightful analytics.

Relevance in today’s market.

The value of automating business processes is stronger than ever in today’s market. Staff turnover creates risk of knowledge gaps related to manual processes, breaks in workflow, and reduced outputs. Process automation helps mitigate these risks and alleviates resource constraints. By automating these processes, there is an alleviation of these resource constraints. Combined with better accuracy, increased operational efficiency, and real time visibility of data, automation makes more sense than ever for most firms.

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BornTec’s Exchange Compliance

by Chris Haworth | June 1st, 2022 | Blogs,

CrossCheck is a powerful system that allows users to view all trading platform audit trail data in one centralized location. This feature streamlines the auditing process and makes it easy to access data quickly and efficiently. The system is designed to be compatible with most ISV and internal platforms, allowing users to instantly produce reports for exchange audit trail compliance. With CrossCheck, mapping audit trail log files into a standard messaging format is simple and intuitive, allowing users to query for specific data fields such as trader ID, date, product, exchange, and more.

CrossCheck stores your data for several years, ensuring that your firm remains compliant with exchange audit trail requirements. The system allows for easy retrieval of data, making it simple to locate and produce the necessary reports. Additionally, users can send data to exchanges in their requisite format quickly and easily, further streamlining the compliance process. With CrossCheck, you can have confidence that your firm is compliant with all exchange audit trail requirements, allowing you to focus on your core business operations without worry.

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BornTec had the pleasure of attending FIA Boca 2022

by Chris Haworth | March 29th, 2022 | Blogs, Data Management, Interviews, Press Release,

BornTec had the pleasure of attending FIA Boca 2022. It was great reconnecting with customers, friends, and former colleagues after nearly two years virtual.

The advance in technology and cryptocurrency over the past several years showed a strong presence at this year’s conference. There were several crypto exhibitors that spoke on the institutionalization of crypto, which brought a large crowd to the several panel discussions that were held throughout the conference. On a related note, last week we saw Goldman Sachs become the first major bank to execute an OTC crypto trade, and more are likely to follow.

Boca FIA

Innovations and business models now employed in the Crypto space caused many to discuss the applicability of these in the broader futures space. Topics included cloud based trading and connectivity and the possibility of rethinking the exchanges model of charging for market data.

Data utilization was another hot topic at the
Boca event, and one close to our hearts at BornTec. Many of the discussions we had were centric to how brokers and FCM’s can make better use of their trade data, run meaningful analytics from their data, and solve key problems like faster customer onboarding through better data dissemination.

The event was among the most well attended Boca conferences on record, and would have likely been a stronger turnout if not for the recent geopolitical and market turmoil keeping some from attending. We spoke to several persons who had meetings canceled last minute as the gyrating energy and commodity markets necessitated key people stay home to attend to business during this time.

We had a busy and enjoyable conference and can’t wait for next year.

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Is your firm violating exchange audit trail regulations?

by Chris Haworth | February 4th, 2022 | Blogs,

How certain are you that your company is compliant with CFTC and Exchange “Audit Trail Requirements”? Some firms would ascribe a fairly high degree of confidence. Our data shows this confidence is mis-placed.

BornTec’s analysis shows that utilizing typical industry practices, there will be missing, invalid or corrupted data much of the time.

These audit trail regulations are primarily prescribed under CFTC 17 CFR § 1.35 and 38, CME 536.B.2, ICE Futures US 27.12A and others. Individual penalties can be significant.

BornTec’s audit trails module in Crosscheck expertly mitigates the core issues that managing audit trails poses for clearing members – retrieval/production of data, validation of data and verifying completeness.

Without Crosscheck, audit trail compliance is a manual and disorganized process:

Retrieval/production of data requires resources from the member to manually comb through numerous folders, files, and logs looking for the exact data the exchange requested. This was often a fool’s errand, as the requisite data was commonly incomplete, or missing altogether. In most cases, it took weeks to gather the data, filter it, send it to the exchange, and then hope they do not issue a fine. In some cases, significant fines were issued for lack of a timely response.
Validation of data is generally limited to spot checks at best
Checking for completeness of data is usually limited to whether or not files exist. This is insufficient to ensure that the file data is complete or in the required format.

Crosscheck solves this problem by ensuring complete and validated data in an automated way. The audit trail data is compiled in a normalized schema and is accessible for users to query via a GUI. Exports can be made in the exchange requisite format. Users are provided confidence in their audit trail data. What previously took weeks, can now be accomplished in minutes.

Having actionable knowledge of your data ahead of an audit can go a long way in mitigating your firm’s reputational risk.

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