Kynetix, the specialist technology solutions provider for physical delivery of commodities and fixed income, today announced a partnership with one the world's leading independent commodities and derivatives consultancies, Contango.
The two firms are jointly committed to provide sound product development & technology solutions that will equip the derivatives market with the tools to tackle some of the more complex administrative & reporting challenges posed by EMIR.
Kynetix and Contango will be working together to deliver post trade solutions and process improvements for participants in the global derivatives industry, leveraging the in-depth market knowledge and technology delivery capability that the two firms collectively offer.
The firms will focus initially on developing: solutions centred round exchange traded deliveries (bonds & commodities); reconciliations and Transaction Reporting.
Matt Dolton, one of the founding directors of Kynetix comments:
"We are delighted to be working with Contango. They are a natural fit for our business model bringing hard-won market knowledge as well as deep understanding of the commodities and derivatives markets and of the consequences of new regulations laid down by EMIR. Together we can deliver real value to client firms who may be floundering in interpreting the complexities of EMIR in the most efficient way for their business."
Contango's managing director, Clive Furness comments:
"It is a time of great upheaval within our industry. There has been considerable consolidation within the global commodities & derivatives markets and the fall out is a multitude of operational pressures that extend far beyond the day to day business. Working with Kynetix we feel ideally placed to provide companies with the help they need to manage change along with their regulatory obligations whilst driving post-trade efficiency and business advantage."