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BNY Mellon is to launch a new prime brokerage service for its institutional clients in ‘early 2018’ aimed at allowing partcipants to trade, finance and margin their FX more efficiently.
BNY Mellon says the new will provide clients with access to a significant new source of FX liquidity while helping streamline and reduce operational expenses, including legal and onboarding costs, as well as generating substantial capital and netting gains.
Clients will be able to transact an extensive suite of FX products while also enjoying access to pre- and post-trade services and BNY Mellon’s collateral, funding and liquidity capabilities.
The introduction of
Muzinich & Co has launched a new European-focused total return credit strategy targeting enhanced returns and reduced downside risk against large drawdowns.
The Muzinich European Credit Alpha Fund, a sub-fund of Muzinich’s Irish-domiciled UCITS range, will be managed by Thomas Samson, who has delivered strong performance over many years with the firm’s European High Yield Fund. He will be supported by Assistant Portfolio Manager Hugo Squire.
The Fund aims to generate attractive mid-to-high single-digit returns over the course of a full market cycle. This long/short, total-return credit strategy seeks to predominantly invest across European credit markets in strong conviction
By Matt Mulry (pictured), Dillon Eustace – In the shadow of an impending review by the Financial Acting Task Force the Cayman Islands has undertaken an overhaul of its laws, regulations and guidance notes which govern its anti-money laundering and counter-terrorist financing regime.
PEGAS, a pan-European gas trading platform operated by Powernext, achieved its best trading results in 2017 by reaching a new record with 1,953.9 TWh, improving its previous record (1,733.3 TWh in 2016) by almost 13 per cent.
The top volume was still observed on the Dutch TTF delivery area where over 1,223 TWh were traded across both spot and futures segments, along with the bigger growth percentage (14 per cent). The Austrian CEGH VTP performed remarkably well in 2017 with 88.9 TWh, regularly achieving monthly volume records in its first full year on PEGAS.
Dr Egbert Laege (pictured), President
The Foreign Exchange Professionals Association (FXPA) has appointed John Shay (pictured), as President of the organisation, a newly created role. Additionally, FXPA has hired Mercury Strategies, represented by Justin Slaughter, as its new legal counsel.
“We are excited to welcome John and Justin to FXPA. They will be involved on a day-to-day basis, leading the group’s efforts to focus on the issues that matter most to the FX industry and help fulfil our mission statement, which is to advance a sound, liquid, transparent and competitive global currency market through education, research and advocacy,” says FXPA Chairman Chip Lowry.
“Through
The Taiwan Futures Exchange (TAIFEX) has launched two new FX futures contracts – GBP/USD Futures and AUD/USD Futures.
The addition of the two new futures contracts is the next step in TAIFEX’ strategy to rapidly expand its FX product line, which it began building in 2015 with the introduction of RMB FX Futures, followed by the introduction of RMB FX Options, EUR/USD Futures and USD/JPY Futures in 2016.
Dr Len-Yu Liu, Chairman of TAIFEX, says: “With Taiwan being one of the world’s most trade-connected economies, it is essential that TAIFEX continues to provide local investors and exporters, as well
Northfield Information Services has launched a new way for financial professionals, including hedge fund managers, to quantify risk based on the latest news.
Risk Systems That Read is a new service designed to augment Northfield’s current risk models, already trusted by more than 300 asset manager and asset owner clients globally.
Unlike traditional risk models that rely only on statistical data from the past, models augmented by Risk Systems That Read quantify risk based on analysis of the same news text that investors are receiving now. Investment professionals get a more complete and accurate understanding of risk in financial
Hedge funds concluded 2017 with the strongest capital inflows since Q2 2015, driving total assets to new record, while completing the first performance year without a monthly decline since 2003; according to the latest HFR Global Hedge Fund Industry Report.
Total hedge fund industry capital increased by USD59 billion to USD3.21 trillion, the sixth consecutive quarterly record for total industry capital.
Investors allocated USD6.9 billion of new capital to hedge funds in Q4 2017, the highest quarterly inflows since Q2 2015, bringing total 2017 inflows to USD9.8 billion. December marked the fourteenth consecutive monthly advance of the HFRI Fund
Being a fully automated online electronic brokerage firm, Interactive Brokers has found itself in an enviable position of adapting to new regulations such as MiFID II relatively seamlessly. As it already had a lot of the IT technology in place to demonstrate best execution, IB has not needed to go through a significant overhaul nor, importantly, has it needed to hire a lot of extra staff, thereby increasing its fixed costs.
One example of the technology IB uses which will help clients under MiFID II is IB SmartRoutingSM technology; essentially an algorithm that scours the markets to ensure that best
Interview with James Alexander, Commercial Officer at Invast Global
How is bank regulation helping Invast Global win market share from traditional prime brokerages?
There is no doubt that the suite of bank focused regulations has been a tailwind for Invast. Of the regulations currently curtailing banking activities in Prime Broking, Basel II has been the greatest catalyst for the shift in appetite to onboard various client types, especially smaller or emerging managers and brokerages looking to distribute products to a broad retail audience.
MiFID / MiFIR are also having an impact, generally favouring the boutique organisations who can respond rapidly
