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ULTUMUS and NUVO PRIME form strategic alliance leveraging latest cloud-based technologies.

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ULTUMUS and NUVO PRIME form strategic alliance leveraging latest cloud-based technologies

ULTUMUS, the leading global provider of ETF, index and dividend forecast data today announced a strategic data and technology alliance with NUVO PRIME, the developers of SwapScale, an enterprise grade, swaps trading platform built for cloud. The partnership will provide mutual clients with the ability to better access and use ETF, index and dividend forecast data ensuring timeliness and accuracy for all aspects of swaps trading, pricing and reporting.

Nuvo Prime
 
 

The prime finance space is rapidly evolving, not only as new companies come to market but also for incumbents who must now confront the high costs and inflexibility of legacy technology stacks. Remaining competitive means strategic adoption of next generation solutions.

Addressing these demands, the ULTUMUS and NUVO PRIME alliance combines the flexibility and performance of the SwapScale trading platform with the most comprehensive and best-supported managed data service from ULTUMUS.

Bernie Thurston, CEO, ULTUMUS said: “We are very pleased to be partnering with NUVO PRIME to provide our data set that offers the greatest granularity of data and client support. This partnership allows us to provide our service to a wider audience and provides a real choice to clients on who to choose to service their data needs”.

“We are delighted to work with ULTUMUS to integrate their services in our applications for the benefit of the client base, said Claire Young, Co-Founder and Co-CTO of NUVO PRIME. “Reliable direct and proxy pricing implemented in real- or near-real time is a valuable strategic enhancement to our Prime Finance offering. Our collaboration with ULTUMUS extends our capabilities in this important area".

SwapScale by NUVO PRIME is the first of its kind: a swaps trading and management platform built from the ground up for cloud. Employing next generation web technologies, it combines the security, resilience and scalability of distributed computing with the full feature set, customisability and cost-efficiency of software-as-a-service.

For further information, please contact:

Andrew Bain, Nuvo Prime, Tel: +44 7900 882 601
Louise Dolan, Camarco, Tel: +44 20 3757 4982 / +44 7446 870025

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Bernie Thurston

Bernie Thurston is the founder and CEO of Ultumus, a leading provider of ETF and index data, calculation, and workflow solutions. With over 20 years of experience in financial technology, Bernie has been at the forefront of index and ETF innovation since 2003.

His finance career began at Markit, where as Managing Director for Equities he designed and developed products for index and ETF composition and dividend forecasting from 2003 to 2011. He then founded and led DeltaOne Solutions as Managing Director, building it into a global provider of index and ETF trading data and technology services. The company managed over 100,000 multi-asset class products before being acquired by Markit in 2015.

Following the acquisition, while working for an ETF issuer, Bernie identified fundamental issues in how index and ETF data was represented across the industry. This led him to found Ultumus in 2016, building solutions for ETF primary market operations. Under his leadership, Ultumus has grown into a market leader serving major financial institutions globally, with its ETF Order Management System (OMS) supporting create and redeem workflows worldwide and its PCF platform calculating and distributing portfolio composition files for ETF issuers across every major market.

Bernie sold Ultumus to SIX Group in 2021, where it continues to expand across Europe, North America, and Asia-Pacific. Known for building lasting teams and leveraging cutting-edge technology, Bernie is focused on establishing Ultumus as the backbone of the global index and ETF industry through standardisation and automation.

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