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Nasdaq has officially launched new trade surveillance monitoring capabilities for dark trading activity alongside its award-winning SMARTS Trade Surveillance platform.
"Trade surveillance can no longer be limited to lit trading," says Rob Lang, Vice President, Business and Product Development, Risk & Surveillance Solutions, Nasdaq. "Regulators globally are taking a more active role in monitoring and enforcing greater transparency in the trading of listed instruments away from lit venues generally, and of trading behaviours within dark pools specifically. We see the need to address these new demands and support dark venue operators and those executing in the dark to boost their
- 09/10/2015
Dan Marcus (pictured), CEO of ParFX, comments on Hilary Clinton’s proposal to tax high frequency transactions with excessive order cancellations that are deemed to enable abusive trading or could threaten to destabilise financial markets…
I think what Hillary Clinton is proposing is not necessarily new – a tax on financial transactions has been floated in Europe – but would be clearly welcomed by those who see the machines as a bad influence in financial markets.
High frequency trading (HFT) clearly still has a reputation problem, but at the same time it’s important to note that HFT is not bad in
- 09/10/2015
- 09/10/2015
Harcourt, the Alternative Investment brand of Vontobel Asset Management, has launched a SICAV-SIF compliant version of its flagship fund of hedge funds strategy, previously only available in a mandate format.
The Harcourt Alternative Leaders Fund, which is only available to institutional investors, is based on a managed account which launched in November 2000. The fund leverages the expertise and investment capabilities of Harcourt’s Hedge-Fund Solutions & Advisory team, which has more than 17 years of experience building and managing customised hedge fund portfolios for institutional clients.
Ilario Scasascia (pictured), Portfolio Manager, says: “Given the continued importance of macroeconomic drivers, especially
- 09/10/2015
Principia Partners, a solutions provider for derivative and structured finance operations, has launched pasVal, an online portfolio valuation, risk, and accounting management service.
The pasVal service is a web-based interface that leverages Principia’s 20+ years of derivatives expertise. Its market-proven valuations engine provides complete portfolio reporting to a wide range of derivative specialists who require sophisticated pricing and analytics without the burden of full-scale system ownership.
“We recognised there were many businesses that wanted access to our award-winning pricing capabilities but who also wanted to minimise their systems’ infrastructure, not add to it. With pasVal, we’ve eliminated that concern,”
- 09/10/2015
Electronifie, the operator of an anonymous all-to-all corporate bond trading marketplace, has elected Troy Paredes, a former Commissioner of the Securities and Exchange Commission (SEC), and Max Kamhi, an entrepreneur and strategic investor in early stage companies, to the company’s Board of Directors.
“Troy’s regulatory expertise and reputation for integrity, coupled with Max’s experience as an entrepreneur in the technology and finance industries, will be invaluable assets for our company as we grow our network of Subscribers and navigate through the evolving fixed income market landscape,” says Amar Kuchinad, Chief Executive Officer of Electronifie. “Both Troy and Max share our
- 09/10/2015
Private equity firm TA Associates is to acquire Frank Russell Company’s asset management business, Russell Investments, from London Stock Exchange Group (LSEG) in a deal valued at USD1.15 billion.
As part of the deal, which is subject to the usual regulatory approvals and is expected to close in the first half of 2016, Reverence Capital Partners is making a ‘significant minority investment’ in Russell Investments.
“We are delighted to partner with such an established and highly respected market leader in the investment management industry,” says Todd Crockett, a Managing Director at TA Associates. “We believe that the breadth of Russell Investments’ investment and implementation operations, as well as its orientation
- 09/10/2015
ICAP’s Global Broking business and ICAP Information Services (IIS), the information and data division of ICAP, have together launched the ICAP Euro Interest Rate Swap (IRS) Index.
The ICAP Euro IRS Index is intended to track the return of a strategy which invests in Euro interest rate swaps. The index incorporates proprietary ICAP order and trade driven prices, which are published on ISDA reference pages.
Calculated in real time from 8:00 to 16:30 London time, the ICAP Euro IRS Index is available with 1-30 year maturities on Bloomberg. Products tracking the ICAP Euro IRS Index could be valuable management tools
- 08/10/2015
Perella Weinberg Partner’s Asset Based Value (ABV) Investment Team led by ABV Strategy Portfolio Manager & Partner, along with Partners Andrew Dym and Mark McGreenery, is to separate from the business and set-up as an independent registered investment advisor.
The new RIA will then become a sub-advisor to the existing funds providing investment management continuity for the remaining term of the USD1.7 billion of assets under management.
Robert K Steel (pictured), Chief Executive Officer, Perella Weinberg Partners, says: “The Firm, David and the ABV Investment Team and our investors had a successful seven-year relationship. During this time the ABV
- 08/10/2015
HSBC Securities Services (HSS) has been appointed by Lynx Asset Management AB to provide administration and global transfer agency services to its two Swedish onshore fund vehicles, amounting to approximately USD1 billion assets under management.
Founded in 1999, Lynx is a Commodity Trading Adviser (CTA) with approximately USD6bn in assets under management and is part of the Brummer group.
These additional funds will be serviced by HSBC Securities Services Ireland (HSSI), which has had a client relationship with Lynx since 2004. It will be the first time that HSSI will service such Swedish onshore funds.
Tony McDonnell (pictured),
- 08/10/2015
Hedge funds declined for the fourth consecutive month in September, according to HFR, with global equities, commodities and high yield credit posting steep losses, while volatility posted increases sustained throughout the month.
The broad-based HFRI Fund Weighted Composite Index declined by 1.1 per cent in September, the fourth consecutive monthly decline for the Index and the longest such sustained decline since the Financial Crisis in 2008. The performance drawdown of -5.0 per cent since June brings the YTD Index performance through September to a decline of 1.3 per cent, which still tops the S&P 500 by 400 basis points and
- 08/10/2015
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