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Esprow, a provider of enterprise testing technology for the financial markets, has released a MiFID II adaptation of its ETP C-Box RegTech platform. The update will automate MiFID II certification of exchange members and counterparties and allow any regulated firm to streamline inbound connectivity fast and accurately.   Investment banks face a challenge to certify the large number of counterparties on demand. According to MiFID RT6, sell-side firms are required to carry out testing of their trading systems every time “there are substantial changes to the trading system or to the access to the venue in which the algorithmic trading
  By Kulvinder Gill – The technology treadmill is a tough place to be these days. Technology refresh cycles last only a mere three years, forcing firms to replace their infrastructures and make costly software and hardware upgrades on a too-frequent basis. And with hedge fund budgets tighter than ever, many firms cannot afford to stay on this path. But the hedge fund technology treadmill is not a firm’s only option. Costly in-house, ‘traditional’ IT services have given way to more cost-effective outsourced IT and managed services that get firms off the treadmill and on a path to success. Let’s have
Alternatives have become a more mature option for institutional allocators, yet the reporting obligations fueled by the constantly evolving regulatory landscape has become a challenge for a large number of alternative fund managers. Whereas a decade ago, alternative fund managers could get away with basic investor reporting, delivered almost as an afterthought, in today’s marketplace the frequency and level of reporting detail that investors expect has risen substantially. This applies to all alternative products, not just hedge funds, as institutions look to gain a clear handle on how their entire portfolio is performing.  In Ernst & Young’s 2016 Global Hedge
Hamilton Lane has appointed Lydia A Gavalis as general counsel and Frederick W Shaw as chief compliance officer, effective as 1 April. Robert Cleveland, who served as general counsel at the firm for more than 16 years, will retire at the end of March.   Gavalis (pictured), who had previously served as deputy general counsel, will assume responsibility for all legal affairs globally.   “Bob has been an invaluable part of Hamilton Lane’s success and evolution, and it is with deep appreciation and gratitude that we thank him for his service and wish him well in his retirement,” says Mario
BCS Global Markets, the Russian investment bank and largest securities broker on the Moscow exchange, has appointed Bradley Duke and Tim Bevan as co-chief executives of its UK entity, BCS Prime Brokerage (BCS UK). BCS Global Markets recently adopted a matrix management structure to promote greater oversight and synergies across geographies and business lines.    The decision to appoint two chief executives for BCS UK comes as headcount at BCS UK has grown to over 170 since the beginning of 2017 – with the establishment of a branch in Moscow of the FCA regulated UK entity, that now encompasses the
Axioma, a provider of enterprise market risk and portfolio management solutions, has appointed Jacqueline Gaillard as managing director, people and talent. Gaillard (pictured) was previously senior vice president, human resources and talent management at International Securities Exchange (ISE), the first all-electronic US options exchange.   “Jackie’s proven ability to help rapidly evolving and growing organisations to manage and attract the talent needed to succeed is a perfect fit for Axioma,” says Amaury Dauge, senior managing director and chief financial officer. “As Axioma’s growth continues to accelerate, a first-class support structure is critical to the achievement of our goals. We are
In today’s unpredictable world, it’s more critical than ever that investment managers and advisers establish plans to keep their businesses from experiencing undue harm. Daily business operations can be impacted by a wide variety of scenarios– from the most threatening, large-scale disasters (like terrorism, natural disasters, etc.) to more common, user-provoked errors. But regardless of the size and scope of the disruption, today’s financial firms are often ill-prepared to restore operations in a timely manner – and with minimal impact to the firm. In 2016, the Securities and Exchange Commission (SEC) proposed Rule 206(4)-4, requiring registered investment advisors (RIA) to
Social and geopolitical turbulence across Europe and North America are concerns for global asset managers, according to the 2017 Linedata Global Asset Management & Administration Survey. When asked to forecast the most disruptive trends in asset management a year ago, asset managers highlighted industry-specific concerns: robo-advice (23.5 per cent), movement into alternatives (24.1 per cent) and cybercrime (33.5 per cent).   This year, those concerns remain but have been relegated to second-tier issues (11.6 per cent, 7.4 per cent and 17.9 per cent, respectively).   Nearly a quarter (24.2 per cent) of respondents highlighted political and policy change as the primary
The Depository Trust & Clearing Corporation (DTCC) subsidiary operating the Global Markets Entity Identifier (GMEI) utility continues to operate as the largest legal entity identifier (LEI) issuer, by share of the total LEIs issued worldwide, in the run-up to MiFID II implementation. It has issued more than 240,000 LEIs to entities from over 200 jurisdictions, representing approximately 50 per cent share. The GMEI utility recently received accreditation from the Global Legal Entity Identifier Foundation (GLEIF), which reflects that DTCC has sufficient capabilities in place to ensure high data quality in the Global LEI System (GLEIS).   In addition, SIX Securities
SEI increased its assets under administration (AUA) by 25 per cent in 2016, with year-over-year net flows in its UK private banking business rising by 21 per cent. The business, which provides outsourced investment processing technology for private banks and wealth management firms through the SEI Wealth Platform, ended the year with AUA at GBP31.6 billion, up from GBP25.2 billion in 2015 – an increase of 25 per cent.   In 2016 SEI also added WHIreland, Netwealth, and Munnypot to its client base and extended contracts with Danske Bank and Veritas Investment Management.   SEI’s data reveals that the 2016

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