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TORA, a provider of a cloud-based order and execution management system (OEMS), has launched an artificial intelligence (AI)-driven pre-trade transaction cost analysis (TCA) solution designed to help firms meet the stricter best execution requirements imposed by MiFID II.
TORA’s new AI TCA product moves beyond traditional TCA by using AI techniques to accurately estimate price slippage for trades before they enter the market.
Asset managers are increasingly relying on analytics to build more sophisticated, quantitative best execution processes to meet MiFID II’s higher standards and to gain a competitive advantage. Trading desks are also embracing rapid advances in AI
Average daily transaction value on the Euronext cash order book stood at EUR8,141 million in November, up 11.0 per cent compared to November 2016 and up 13.5 per cent from the previous month.
The average daily transaction value on ETFs was EUR481 million, down 22.1 per cent compared to November 2016 and up +21.6 per cent from the previous month. Euronext’s ETF offering slightly decreased this month to 828 listings at the end of November, compared to 831 at the end of the previous month.
The overall average daily volume on derivatives reached 629,767 contracts, up 15.9 per cent
BlockEx, the provider of digital asset exchange platform, has added former JP Morgan executive and hedge fund board member Roger Ohan to its adviser team.
His focus will be to help BlockEx understand how to best position its products for more traditional financial market participants.
Ohan says: “I am impressed by how much the BlockEx team have developed so far, and I am pleased to join to help them roll out their solutions to users across the world.”
BlockEx combines the regulatory framework and governance of traditional finance, with the efficiencies of blockchain. Its Digital Asset Exchange Platform
Alter Domus, a provider of Fund and Corporate Services to alternative investment managers, has opened two new offices in Spain; in Madrid and Barcelona.
Laurent Vanderweyen (pictured), Chief Executive Officer of Alter Domus, says: “The opening of these new offices in Spain, in important financial capitals, will strengthen the company’s platform in Europe and is a result of our commitment to continually broaden our international presence, and bring our high quality services to every jurisdiction within our expanding reach. Having Spanish-based offices will offer significant opportunities for us to target inbound and outbound investments in the Spanish and European economies.”
Genoa-based Banca Carige has entered into exclusive negotiations with London-based hedge fund Chenavari Investment Managers, over the sale of its consumer credit company Creditis Servizi Finanziari (Creditis).
Banco Carige is aiming to agree a deal by 6 December as it looks to comply with ECB demands that it increase its capital and cut bad loans to avoid winding up proceedings.
Chenavari Investment Managers has also committed to buy up to EUR40 million in unsold Creditis shares, taking over a commitment previously undertaken by another bidder as part of the competitive bidding process for the business.
Members of the underwriting syndicate,
KOGER, provider of the NTAS platform for fund administration and compliance, is now offering Chinese-language capability for investor statements.
More than 8,000 funds with USD2 trillion in assets are administered through NTAS, used by many of the largest asset managers, fund administrators and financial institutions. With this new product innovation, hedge funds and private equity funds can provide statements to Chinese investors in their native language.
“Today most fund managers have investor bases that span the globe. Our platform makes complex processes easy to manage and increases efficiency for fund administrators, asset managers and financial institutions. We felt it was
Thomson Reuters has expanded its Connected Risk platform to include a Model Risk Management (MRM) solution, allowing institutions to demonstrate a real-time understanding of their model risk landscape, with the ability to report on the model’s governance status, sign-offs and related issues from a single platform source.
Financial modelling plays a critical role in several financial institution activities, including credit underwriting, risk management, capital adequacy and instrument valuation. The MRM solution is designed to provide Risk professionals with a holistic understanding of how each of these models in the business is derived, validated and applied. It features a simple, yet
QuantHouse, an independent provider of end-to-end market data and trading through API based technologies, is now providing access to Sun Trading’s Systematic Internaliser (SI) platform through its QuantFEED and QuantLINK offering.
Sun Trading is a provider of bespoke equity streams under the MiFID I regime, and the organisation anticipates a high demand for their liquidity under MiFID II. Previously, only large tier 1 brokers have had the resources to connect to this liquidity directly. By offering simple connectivity via a single API, QuantHouse’s customers are now able to access Sun Trading’s market data and order entry feeds, and access the
LiquidityBook, a Software-as-a-Service (SaaS)-based provider of buy- and sell-side trading solutions, has opened a new office at 138 Holborn in Waterhouse Square, London.
The firm, which has secured eight new fund manager clients in London since July, will use the new office to support its continued expansion in the region as demand for its POEMS (portfolio, order and execution management system) platform surges ahead of MiFID II’s January implementation deadline.
The new office is led by EMEA Client Services Manager Nicholas Thompson (pictured), who joined the firm from Eze Software in June. Thompson and the London-based LiquidityBook team, which
Cappitech Regulation, a RegTech firm specialising in automating regulatory transaction reporting for investment firms, has concluded the integration of its Capptivate platform with AccessFintech’s ecosystem.
AccessFintech users can now incorporate Capptivate’s MiFID II and EMIR reporting, tracing regulatory reporting exceptions in its lifecycle management portal.
Launched earlier this year, Access Fintech links together tools and services from fintech vendors with in-house technology. Through a single integration, Access Fintech enables buy-side investment firms and banks to easily enhance workflow with new providers while compressing the distributed workflow to a single portal for prioritised exception management
Through the Cappitech integration,
