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SageTrader, a San Francisco and New York based broker dealer, is to deploy the cloud version of Eventus Systems’ Validus platform for its equities trade surveillance.
Validus combines both machine-learning (ML) and procedural technologies to detect potential manipulative behaviour and insider trading.
Eventus CEO Travis Schwab says: “We’re very proud to work with SageTrader to meet the firm’s equity trade surveillance needs. This is a great example of how our machine-learning capabilities provide a real value-added service to a client.”
Dan Weingarten, SageTrader CEO, says: “Since our implementation of the system in the fourth quarter of 2018, we
PineBridge Investments (PineBridge) a global asset manager focused on active, high conviction investing, has launched the PineBridge China A-Shares Quantitative Fund.
The Fund seeks to give global investors access to the domestic equity market in China through a quantitatively managed, active equity strategy that invests in equity and equity-related securities connected to the economic development and growth of China. As one of the only UCITS products in the market to adopt a quantitative approach to Chinese equities, the Fund aims to deliver alpha through the combination of local knowledge and a systematic investment process.
The Fund is managed by
genesis, an international capital markets software firm, has been working with LCH, a global clearing house, to design, build and implement three new solutions to automate workflows, which will in turn support business growth.
In order to support increased volumes at its ForexClear service, LCH was looking for a streamlined solution to automate the FX ‘option expiry’ process. Following a competitive tender process, LCH selected genesis due to their domain knowledge and micro-services technology framework, enabling fast and agile software development.
Collaborating closely with LCH, genesis helped develop the exercise and expiry service for ForexClear with the first iteration developed
The Association of National Numbering Agencies (ANNA) and the Global Legal Entity Identifier Foundation (GLEIF) have set 4 April 2019 as the ‘go-live’ date for a new initiative to start linking International Securities Identification Numbers (ISINs) and Legal Entity Identifiers (LEIs) for the global financial industry.
The initiative has been created to help improve transparency of exposure by linking the legal issuing entity (Issuer) to their issuance of securities, and to also address some of the regulatory requirements under the Prospective Directive, the CSDR and SFTR.
Over the past nine months, ANNA and GLEIF have worked together on technical developments
Hedge funds established in 2018 undertook concerted efforts to launch their enterprises on a stable foundation, including raising minimum investment levels significantly over prior years, according to The Seward & Kissel 2018 New Hedge Fund Study, an annual analysis of new hedge funds performed by the leading law firm to the hedge fund industry.
In 2018, higher asset levels were sought in order to manage increasing costs and better attract institutional capital. From 2017 to 2018, the minimum investment accepted by new hedge funds shot up dramatically. The full study is available here.
In further evidence of the industry’s emphasis on
SANNE, a provider of alternative asset and corporate administration services, has appointed James Bermingham, a funds’ lawyer with more than 20 years’ appoints, as a new Group General Counsel in Luxembourg.
In his new role, Bermingham will be responsible for setting SANNE’s legal strategy to ensure an effective, efficient and adaptable operating platform that is best in class and provides unrivalled support to clients. He will also play an important role in helping guide the commercial strategy of the business, supporting its clients and representing their interests in industry, regulatory and governmental forums.
Prior to joining SANNE, Bermingham was
Institutional trading and portfolio management systems provider TORA has successfully implemented its Order and Execution Management System (OEMS) and Portfolio Management System (PMS) at Systematic Investment Management AG (SIMAG) based in Zurich.
SIMAG was formed in 2017 as a joint venture between Credit Suisse and the Swiss Federal Institute of Technology (ETH Zurich). SIMAG employs the most advanced artificial intelligence technology to extract signals from noisy financial data.
SIMAG required a leading independent technology partner that offered a cloud-based unified OEMS and PMS that would allow them to execute their sophisticated strategies using straight-through processing. They also required an open system
Global funds transaction network Calastone has appointed David Zwirn as Managing Director, Head of UK & Ireland Sales and Relationship Management.
Zwim joins from global fintech business InvestCloud, where he was of Head of Sales. He will be responsible for defining and implementing the UK and Ireland business development strategy, as well as building and managing a growing sales team across the region. Zwim will also manage Calastone’s network of client relationships as the business migrates its infrastructure onto blockchain technology.
Zwim joins Calastone with 28 years of sales experience across the financial services industry, with specific expertise in fintech
Powernext has developed an auction system for Guarantees of Origin (GOs) which will be launched in September 2019.
In August 2018, the French Minister for an Ecological and Solidary Transition appointed Powernext as the sole operator of this auction system, and in addition extended Powernext’s mandate to operate the national registry for GOs in France. Guarantees of Origin help to promote the consumption of electricity produced from renewable sources by ensuring its traceability. The auction system developed by Powernext allows for price formation and increases transparency in the GO market.
The quantity of GOs to be auctioned each month will
OpenGamma, a specialist in derivatives analytics, has raised USD10 million in funding led by early-stage fintech and B2B software venture capital firm Dawn.
The funding round includes participation from existing investors Accel, CME Ventures and ex-SunGuard CEO and prolific fintech angel investor Cristóbal Conde.
OpenGamma’s analytics solutions allow the world’s banks, hedge funds and asset managers to dramatically reduce the cost of trading derivatives. New regulation is forcing firms to post billions in capital to take market positions with significant increases over the next two years. This is at a time when returns are already under extreme pressure. As
