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Friess Associates has launched the Friess Small Cap Growth Fund making the firm’s small-cap services widely available for the first time. Smaller companies played such a significant role in the early growth of Friess Associates that the firm began dedicating specialised attention to the small-cap category in 1982. Over the next 35 years, only institutions and high-net-worth individuals able to meet substantial investment minimums could access the firm’s small-cap services.   Friess Small Cap Growth Fund’s investment minimum is USD2,000 in the fund’s investor class, which will trade under the ticker symbol SCGNX. Led by Chief Investment Officer Scott Gates (pictured), Friess researchers
Volumes for North American corporate bonds on International Continental Exchange’s (ICE) Credit Trade electronic trading platform increased to USD5.7 billion of traded notional in the first quarter of 2017, up 52 per cent compared to fourth quarter 2016 notional traded. Launched in late 2015, the platform has achieved seven consecutive quarters of record notional value of bonds traded. The average trade size executed on the platform now exceeds USD1.1 million for US Investment Grade bonds and USD700,000 for US High Yield bonds.   Based on a unique session-based protocol known as Risk Matching Auctions (RMAs), ICE Credit Trade allows the
Linedata, a global solutions provider dedicated to the investment management and credit industries, and Electra Information Systems (Electra), a provider of state-of-the-art reconciliation solutions for the asset management industry, have integrated Electra Reconciliation and Linedata Mfact, Linedata’s global fund accounting solution. The creation of a purpose-built interface between Electra Reconciliation and the Linedata platform provides Linedata Mfact users with immediate integration through an adapter created and supported by both Linedata and Electra assuring reliable and continued interoperability.   This integration enables traditional account reconciliation (positions, transactions and cash) and management, historical tracking and non-standard matching, and adds the capability to
Intertrust has appointed Cliff Pearce (pictured) asnted  Global Head of Capital Markets. Pearce has over 20 years’ experience working in Capital Markets with premier financial institutions and funds, originating and delivering structured finance transactions to a wide range of clients.  Pearce, who joins from the Bank of America Merrill Lynch, is replacing Robert Berry who recently retired from Intertrust.   In his new role, Pearce will oversee and build on Intertrust’s unique global offering of capital market solutions, with a strong market share in the UK, Ireland, the Netherlands, Luxembourg and Cayman. He will also be responsible for developing a
Exchange turnover in investment products and leverage products increased on Europe’s financial markets in the first quarter of 2017. Compared with the fourth quarter of 2016, turnover rose by 8.0 per cent to EUR30.5 billion.  However, this still represents a 9.0 per cent decrease year on year. Those are some of the outcomes of an analysis by Derivative Partners AG of the latest market data collected by the European Structured Investment Products Association (EUSIPA) from its members.  The members of EUSIPA providing input to the report are: Zertifikate Forum Austria (ZFA), Belgian Structured Investment Products Association (BELSIPA), Association Française des Produits Dérivés de
IHS Markit is partnering with OpenText, a specialist in Enterprise Information Management (EIM) to allow Counterparty Manager users to use OpenText’s Perceptiv Contract Analysis to automatically digitise and extract key terms from documentation. Tighter integration of IHS Markit and OpenText solutions will help customers address operational challenges around managing unstructured trading documentation, including Credit Support Annexes (CSAs) and ISDA master trading agreements. The combined solution utilises a sophisticated data model to digitise, organise, and extract data for review, as well as analysis to help address compliance requirements for Uncleared Margin Rules – avoiding the laborious and error-prone process of manually
The Depository Trust & Clearing Corporation (DTCC) has appointed Matthew Stauffer as Managing Director and Head of Institutional Trade Processing, effective 30 June, 2017. Stauffer will be responsible for integrating DTCC’s middle office trade processing solutions, including the Omgeo suite of solutions, Trade Support Services (TSS) and the GMEI Utility, as well as leading new product development. He will report to Timothy Keady (pictured), Managing Director and Head of DTCC Solutions.   Stauffer previously served as CEO of Clarient Global, a partnership DTCC launched in 2014 with six founder banks to provide centralised services for all client data and documents
Cowen has completed its acquisition of Convergex Group for a total consideration of USD100.7 million (including seller transaction expenses) and is comprised of USD53.1 million in cash and USD47.6 million in Cowen common stock.   Effective today, Convergex has been renamed Cowen Execution Services and Convergex Limited, its London-based brokerage, has been renamed Cowen Execution Services Limited.   “The acquisition of Convergex enhances our position as a leader in high quality research and superior global execution capabilities,” says Peter A Cohen (pictured), Chairman and Chief Executive Officer of Cowen. “This transaction is another step forward in Cowen’s overall growth strategy.
PEGAS, the pan-European gas trading platform operated by Powernext, registered a total volume of 140.7 TWh in May 2017, pulled by its spot segment which jumped by 34 per cent, while PEGAS Futures slightly increased year-on-year. Moreover, an overall monthly volume record was reached on the CEGH VTP hub with 7.4 TWh (previous record: 6.6 TWh in March 2017). Spot trading volumes in May reached 62.9 TWh , which represents an increase of 34 per cent compared to the previous year (46.8 TWh). The Dutch market area TTF registered a significant increase with 18.2 TWh, a growth of 51 per
Cowen, following the closing of its acquisition of Convergex Group (Convergex), has made the strategic decision to discontinue the Millennium ATS midpoint matching offering. Millennium’s Form ATS has been amended to reflect this change and all subscribers and trading partners have been notified of the pending change. All midpoint matching in the Millennium ATS will end as of 23 June, 2017.   Jeffrey M Solomon (pictured), President of Cowen, says: “Over the past several years, many of our clients have expressed frustration with the amount of fragmentation in US equity markets. Some have also raised concerns regarding conflicts of interest

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