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Inter-dealer broker Tullett Prebon is teaming up with GMEX Group to develop a hybrid voice and electronic trading platform for FX options.
The new FX Options trading solution is designed to enhance Tullett Prebon’s offering to its clients, integrating GMEX’s request for quote (RFQ) technology with Tullett Prebon’s existing central limit order book (CLOB) capability.
GMEX Technologies, supported by its development partner Forum Trading Solutions, will provide its bespoke trading system and market surveillance solutions for the FX options trading platform.
David Perkins, managing director, electronic broking at Tullett Prebon, says: “This latest initiative highlights our intent to
- 09/08/2016
Intercontinental Exchange’s (ICE) Eris Euribor and GBP LIBOR interest rate futures reached a record monthly volume of 8,185 contracts in July, surpassing the previous monthly record of 1,719 contracts which was set in June 2016.
ICE Futures Europe launched Eris Euribor and GBP LIBOR interest rate futures contracts in June 2015. The ICE Eris GBP LIBOR future is the first Sterling denominated interest rate swap future to trade on-exchange and be centrally cleared. The contracts are based on the product design of the Eris Exchange’s US dollar-denominated standard and flex swap future contracts.
“We are pleased with the increasing levels of
- 09/08/2016
The World Gold Council and the London Metal Exchange (LME), together with Goldman Sachs, ICBC Standard Bank, Morgan Stanley, Natixis, OSTC and Societe Generale, are to introduce a suite of exchange-traded and centrally-cleared precious metals products.
The initiative has been driven by the need for greater market transparency, to support and aid ongoing regulatory change, provide additional robustness to the precious metals market, broaden market access, make trading more capital efficient and trade lifecycle management easier.
LMEprecious will be developed to accommodate the interests of the full range of market stakeholders and to reinforce the strengths of the London market.
- 09/08/2016
Neuberger Berman has extended its high yield capabilities with the addition of a global high yield bond strategy.
The new Dublin-domiciled UCITS vehicle, the Neuberger Berman Global High Yield Bond Fund, will use the resources of the group’s USD37.6 billion high yield franchise – which spans the US, European and emerging market high yield sectors.
Patrick Flynn (pictured), an experienced portfolio manager on Neuberger Berman’s USD7.8 billion High Yield Bond Fund, will lead the new strategy – in collaboration with colleagues from the US high yield team and the managers behind the group’s European high yield bond strategy and
- 09/08/2016
One of the biggest issues with risk when it comes to investing is that investors will invariably think about it in binary terms; what is the level of risk? Is it too high or too low? Of greater import, however, is understanding the composition of risk.
Given where the funds industry is today, as end investors’ return expectations increase they become increasingly limited in the type of risk that they can take. This has the unintended consequence of decreasing the efficiency of the overall portfolio as it becomes more and more concentrated in one type of risk.
The job of
- 08/08/2016
- 08/08/2016
Doug Rothschild (pictured) is joining Agecroft Partners as president, reporting to the founder and chief executive Don Steinbrugge.
As president of Agecroft Partners Rothschild will assist in the day to day operations of the firm, represent the firm and its clients to institutional investors, help with hedge fund consulting assignments, perform due diligence on potential hedge funds the firm might represent, assist with Agecroft’s Gaining the Edge – Hedge Fund Leadership Summits and help guide other strategic initiatives of the firm.
Rothschild brings more than 20 years’ experience in the financial industry, including serving six years on the executive committee of one of
- 08/08/2016
Apex Fund Services has closed a USD40 million credit facility with global credit investment firm Highbridge Principal Strategies.
Peter Hughes (pictured), founder and chief executive officer, Apex Fund Services, says: “The completion of this investment further strengthens Apex’s ability to continue its expansion on a global scale. I am delighted that a well established investment firm recognises an opportunity in the business and has confidence investing in our brand and supporting us in our future development. This investment helps further solidify the Apex group’s position as one of the world’s leading independent fund administrator as we continue to increase our
- 08/08/2016
- 08/08/2016
Barclays Prime Services Strategic Consulting has just completed its latest report entitled ‘Against All Odds – Hedge Fund Industry Developments and Implications for Growth’.
The report finds that although hedge funds have produced considerable excess returns since 1993, such levels have by and large plateaued since 2011, which may be at least partially due to managers’ reducing their risk appetite.
However, survey respondents indicated that they believe the size of the industry and macro conditions are more likely the reasons for recent hedge fund underperformance. The study finds that the industry, across various strategies, has achieved a CAGR over
- 08/08/2016
Four words spring to mind when discussing the evolution of The Bahamas as a leading international financial jurisdiction: regulation, location, expertise and innovation.
Collectively, they provide a multi-layered value proposition that is helping The Bahamas cement a reputation for not only committing to a regulatory framework that embraces and, indeed, reflects international best practices, but which encourages tangible innovation. In other words, The Bahamas is a jurisdiction that gets things done, rather than just talking about it.
One only has to see the incredible success of the SMART funds series to appreciate this. First introduced in 2003, there are now
- 08/08/2016
The International Commodities and Derivatives Association (ICDA) has appointed two new members to its board of directors: Stéphane Graber, secretary general of the Swiss Trading and Shipping Association (STSA), and Paul Lynch, chief executive of itarle, a provider of multi-asset algorithmic trading and analytics services for the sell-side.
As secretary general of STSA, the main professional trading and shipping association in Switzerland, Graber has been instrumental in unifying three regional associations under a single umbrella and has been the driving force behind STSA’s professionalism and increased engagement with Swiss authorities.
Previously he was delegate at the Economic Development Office, Department
- 08/08/2016
- 08/08/2016
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