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Market access technology provider Vela has added Virtu Financial, an electronic market making firm, to the growing list of electronic liquidity providers delivering market data through its new Systematic Internaliser (SI) Data Hub, which is part of its comprehensive MiFID II solution suite.
Based upon Vela’s core feed handler technology, the SI Data Hub provides a low latency, high performance normalised market data solution. The functionality aggregates SI data and allows clients to receive their own bespoke SI price feeds through a single connection and unified API. The SI Data Hub also provides clients with their own configurable Best Bid
Euronext has closed a share swap of its 2.3 per cent stake in LCH Group for an 11.1 per cent stake in LCH SA, becoming minority shareholder in the business in the process.
Following the swap, Euronext will maintain representation at the Board of Directors of LCH SA and will have certain minority protection rights connected with its new shareholding in the company, including a pre-emption right in circumstances where LCH Group decides to sell more than 50 per cent of the shares of LCH SA. The pre-emption right involves a right of first offer and subject to certain conditions, a matching
Investors added an estimated USD10.79 billion into hedge funds in November, according to the latest eVestment Hedge Fund Industry Asset Flow Report. Net flows into the industry for the year are now USD40.10 billion.
Continued performance gains along with new allocations lifted total industry AUM to yet another new all-time high of an estimated USD3,265.85 billion.
Managed futures gained assets for a second consecutive month as strong performers were rewarded. Macro fund outflows meanwhile, continued into a third consecutive month, losing their lead in 2017 inflows.
Long/short equity (including quantitative directional strategies) have overtaken macro funds as the most popular
Business information provider IHS Markit’s thinkFolio investment management platform is now connected to TRADEcho’s Approved Publication Arrangement (APA), providing clients with a trade reporting solution for MiFID II.
MiFID II rules will shift the responsibility for trade reporting to the buy side for certain products. Firms using thinkFolio as their order management and portfolio modelling system can now form an agreement with TRADEcho to enable real time trade reporting to the TRADEcho APA and use of the TRADEcho Smart Report Router to report to other APAs.
In addition, IHS Markit has introduced a new layer within thinkFolio that enables interfaces
First Eagle Investment Management (First Eagle) has completed its previously announced acquisition of NewStar Financial Inc, a lender and investment manager specialising in direct lending to middle-market companies and management of broadly syndicated loans.
NewStar’s credit platform and investment teams now form the alternative credit group of First Eagle.
“We are very pleased to add NewStar, a high-quality alternative credit manager that will broaden our investment lineup for both institutional and retail investors,” says Mehdi Mahmud, president and chief executive officer of First Eagle Investment Management. “NewStar has a track record of prudent lending that dates back to before the
The State Street Global Investor Confidence Index decreased to 94.8 in December, down 1.5 points from November’s revised reading of 96.3.
The fall in sentiment was driven by a 6.2 point drop in the North American ICI to 94.9 and a 2.8 point fall in the Asian ICI to 94.8. However, the European ICI rose 16 points to 96.9.
The Investor Confidence Index was developed by Kenneth Froot (pictured) and Paul O’Connell at State Street Associates, State Street Global Exchange’s research and advisory services business. It measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling
Crédit Agricole has finalised its acquisition of Natixis’ 15 per cent stake in CACEIS. As a result, it now controls 100 per cent of the share capital of the business.
With approximately EUR2.6 trillion in assets under custody, EUR1.7 trillion euros in assets under administration and a presence in nine European countries, CACEIS is one of the industry’s leading players in Europe.
Crédit Agricole believes CACEIS will benefit from integration with its Large Customers business line and that the anticipated gradual normalisation of the interest rate environment should support the subsidiary’s activity in the coming years.
In parallel with this
Conning is to acquire a 45 per cent stake in Global Evolution, a specialist investment manager of emerging and frontier market debt strategies. The transaction is expected to close in early 2018, subject to customary regulatory approvals and closing conditions.
“We are very pleased to welcome Conning as a new shareholder in Global Evolution. This is a significant milestone in our firm’s development – one that recognises the strength of our business and emphasises our reputation as a leader in emerging and frontier markets,” says Søren Rump, Chief Executive Officer of Global Evolution. “Conning is the ideal strategic partner and
Activist hedge fund Cevian Capital has agreed to sell its entire shareholding in AB Volvo (Volvo) to Zhejiang Geely Holding Group (Geely Holding), subject to regulatory approval.
The acquisition comprises 88.47 million A-shares and 78.77 million B-shares, corresponding to 8.2 per cent of the capital and 15.6 per cent of the votes, which represents the largest ownership in AB Volvo by capital and the second largest by votes.
Nomura International Plc and Barclays Capital Securities Limited will acquire Cevian Capital’s shares in AB Volvo and then ell the shares to Geely Holding/
Cevian Capital’s co-founder, Christer Gardell (pictured), says: “Today’s announcement
Three weeks after the approval of bitcoin futures by the Commodity Futures Trading Commission in the United States, niche index provider Solactive is launching the Solactive Bitcoin Front Month Rolling Futures 5D Index, an index tracking the performance of XBT futures listed on Cboe Global Markets (Cboe).
Earlier in December, Cboe became the first regulated exchange to list bitcoin futures, for which Solactive has been granted worldwide exclusivity in index calculations.
Bitcoin, the most prominent cryptocurrency, rose from USD789 in December 2016 to USD18,960 in December 20171, an increase in price of more than 2,300 per cent over the course
