Fintech Focus Roundup For July 11, 2020

ChartIQ, Finsemble Join Under One Brand: Cosaic

What Is Happening? Cosaic will bring together the charting software ChartIQ and desktop platform Finsemble under one brand. The joining of the two businesses promotes application interoperability and will scale the creation of effective, action-oriented workflows, according to Cosaic.
What Does It Mean? “As a multi-product company, and as the excitement about smart desktop technology and desktop interop continues to grow, we realize we have become much more than a charting company,” said Dan Schleifer, CEO and co-founder of Cosaic. “We felt a rebrand is in order to reflect our commitment to inventing new and efficient ways to work.”

How To Invest In Historic Tech Growth

What Is Happening? O’Shares Investments, a provider of quality ETFs for long-term wealth accumulation and management, announced its O’Shares Global Internet Giants ETF with over $200 million in assets under management, successfully outperformed the Nasdaq-100 stock index by over 25%.
What Does It Mean? “Digital transformation of the U.S. economy is accelerating because the pandemic is forcing companies to change, fast,” said Kevin O’Leary, Chairman of O’Shares ETFs. “The U.S. economy, we call it ‘America 2.0’, could get six years of digital transformation packed into six months, with companies adopting technology, selling more directly to customers, and expanding their margins.”

Nasdaq, LSEG Expand in Digital Assets

What Is Happening? Last month Nasdaq launched the Marketplace Services Platform which allows users to build new marketplaces across the trading lifecycle, from execution through to settlement, custody and payment, by using cloud-based plug and play components.
What Does It Mean? The Marketplace Services Platform facilitates the frictionless exchange of assets, services and information across various types of market ecosystems and machine-to-machine transactions, including, but not limited, to standard financial assets, tokenized assets, credit card receivables, loyalty points, real estate, insurance contracts, gaming and wagering.

To Fade Or Not To Fade?

What Is Happening? E*TRADE Financial Corporation announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results indicate investors are bullish on the market but have a wary economic outlook.
What Does It Mean? While there are signs of optimism—consecutive declines in weekly jobless claims, solid housing data, and strength in retail sales—the US economy remains in fragile territory. Fears of a second wave are becoming a reality as virus cases rise in the Sunbelt, rolling back reopenings and stalling pockets of the economy yet again. While stimulus measures have helped Americans and Chairman Powell is committed to deploying his full arsenal, if there is anything 2020 has taught us so far it’s to expect the unexpected.