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Calypso Technology has appointed Pedro Porfirio as Senior Vice President, Chief Product Officer. In this role, Porfirio will be responsible for overall product strategy, driving product development and innovation across Calypso's solutions.
Prior to joining Calypso, Porfirio spent 15 years in leadership roles in Europe and the Americas in FX and rates trading in both cash and derivatives. He was previously at State Street, Dresdner Kleinwort and Lehman Brothers. Most recently, Porfirio was Managing Director, Head of Interest Rates Derivatives Trading at Jefferies International Ltd in London where he was instrumental in setting up the interest rate derivatives operations front
- 11/08/2015
- 11/08/2015
BATS Global Markets (BATS) has received approval from the US Securities and Exchange Commission (SEC) to launch its second options market – EDGX Options. BATS is planning to open the new market on Monday, 2 November, 2015.
EDGX Options will be based on a customer priority/pro rata allocation model and is designed to complement its BZX Options market, the fourth-largest US options market with a record 10.8% market share in July, which is a pure price-time priority market. The launch of EDGX Options will enable BATS to compete for a new segment of order flow that does not trade on
- 11/08/2015
A fairly heavy load of economic data was released last week. On balance they were positive in DM but remained on the soft side in EM. The divergence between DM vs. EM continued to widen. This kept a strong downward pressure on global trade related assets, starting with commodities. The energy space continued to bleed with concerns rapidly building up in US credit markets and broad weakness in breakevens.
- 10/08/2015
The EU Commission has confirmed its continued endorsement of Guernsey as a cooperative jurisdiction following a meeting between officials in Brussels.
This news was welcomed in Guernsey, which has a strong record in meeting international standards as a cooperative and highly transparent jurisdiction – including as an 'early adopter' of the Common Reporting Standards ahead of some European countries.
Responding to the news, Guernsey’s Chief Minister, Jonathan Le Tocq, has written to European Tax Commissioner Pierre Moscovici, stating: “Guernsey welcomes the Commission’s confirmation at the meeting that it considers Guernsey to be a cooperative jurisdiction. This recognises not only
- 10/08/2015
- 10/08/2015
Markit. a provider of financial information services, has launched an FX trade confirmation service, which matches FX option trade terms to generate legally binding trade confirmations that are recorded centrally, allowing counterparties to manage trade lifecycle events more efficiently.
Citi and JP Morgan were the first to confirm FX options trades using the new service which is part of the MarkitSERV trade processing platform. More than 50 asset managers are among the firms recently signed to use the service.
Markit’s service also provides electronic, auditable tools for managing options exercise, updating records dynamically. This helps reduce risk by replacing
- 10/08/2015
Lombard Odier Investment Managers (LOIM), the institutional asset management arm of Lombard Odier Group, has appointed an Insurance Linked Strategies (ILS) team to offer institutional clients a further asset class with low correlation to mainstream assets.
Gregor Gawron joins with team members Simon Vuille and Marc Brogli. Gawron led the CAT bonds and ILS offering at Dynapartners and before that at Falcon Private Bank. Prior to this, Gawron was a portfolio manager in the ILS team at RMF/Man Investments, where he worked closely with his current team.
Based in LOIM’s office in Zurich, the ILS team will report to
- 10/08/2015
Following a mixed first half of the year, CTAs returned to positive performance in July, according to the indices calculated by Societe Generale Prime Services. The Newedge CTA Index posted +3.01 per cent during the month of July, returning to positive year-to-date performance (+0.64 per cent YTD).
Trend followers lead CTA returns in 2015 with the Newedge Trend Index posting a marked increase of +3.84 per cent in July and a performance of +1.26 per cent so far this year.
The Short term Trades Index also showed positive returns, up +0,55 per cent in July. The Newedge Trend Indicator
- 10/08/2015
CBOE Holdings has finalised the acquisition of the market data services and trading analytics platforms of Livevol, a provider of equity and index options technology and market data services to professional and retail traders, effective 7 August.
Financial terms of the deal were not disclosed.
CBOE Holdings' acquisition includes the Livevol Core, Livevol Pro and Livevol X trading analytics platforms, as well as Livevol Enterprise and other market data solutions products. Livevol Securities, Inc., the company's broker-dealer unit, was not part of the deal.
The deal, which was announced in June, was approved by the boards of directors
- 10/08/2015
- 10/08/2015
Schulte Roth & Zabel (SRZ) has added attorney John J Mahon as a partner in the Investment Management Group, resident in the firm's Washington DC office. Mahon joins SRZ from Sutherland Asbill & Brennan LLP.
Mahon brings to SRZ extensive experience in advising private equity firms and other financial sector participants in a wide range of capital markets and securities law matters. He has counselled on the establishment and operation of business development companies, registered closed-end funds and other similar public and private vehicles that comply with complex regulatory structures, such as the Investment Company Act of 1940, the Investment
- 10/08/2015
BATS Global Markets (BATS) today reported July data and highlights including record market share of 10.8 per cent for its US options business, surpassing the previous record of 9.9 per cent set in April 2015.
In US options, BATS set a one-day record of 2.47 million contracts traded on July 24 and also set a one-day market share record of 11.8 per cent on 21 July. In July, BATS Options recorded eight of its top ten days on record in terms of market share.
In US equities, BATS reported market share of 21.0 per cent in July, up from 20.3
- 10/08/2015
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