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Interdealer broker Tradition has delivered an initial margin optimisation in FX, after extending its partnership with LMRKTS, a compression and analytics provider.
Tradition and LMRKTS announced a strategic partnership in 2016 to handle execution and compression processing for G10 FX Forwards. Earlier this month, the two firms completed a SIMM optimisation for NDFs with a group of Tradition’s clients.
Borrowing from the operational processes of their G10 Cash RWA and Leverage Reduction services, the live run incorporated exposure data from four banks, with the entire operational process, resulting in the processing of 132 sides of trades, being completed
Lyxor reports that risk assets have continued to edge higher over the recent weeks, with the MSCI World reaching new highs last week. Yet, equities in developed markets have been essentially fuelled by the US market, the firm says.
The S&P 500 (price index) is now up 5.7 per cent year to date (almost 45 per cent annualised) with a significant part of such returns having been achieved since 9 February, when the President promised a ‘phenomenal’ tax plan. The rally has pushed valuations further into stretched territory. Based on Factset earnings estimates, the Forward 12-Month P/E now stands at
Insch Capital Management has launched the Gold Income Actively Managed Certificates (AMC) powered by Insch’s award-winning Kintore (Bidirectional Gold) strategy.
The firm writes that the investment objective of the Gold Income version of the Insch Kintore strategy is to generate high income distributions regardless of interest rates in both favourable and unfavourable bond market conditions, by employing an actively managed approach trading gold either long or short vs. the G7 currencies: Australian dollar, Canadian dollar, Euro, Japanese yen, GBP sterling, Swiss franc, US dollar.
The Certificates are open-ended and will offer daily liquidity via ISIN DE000HU89R51. They will be listed
JTC Fund Services has made senior appointments in Luxembourg and London as it continues to strengthen its fund servicing business.
Daniel Essoo (pictured) has been appointed as a senior director based in JTC’s London office. With 14 years’ experience in the international financial services industry, Essoo joins the established London fund services team to support JTC’s further growth in the City. A specialist in helping firms with complex, multi-jurisdictional corporate and fund solutions, Essoo has considerable experience in private equity and emerging markets.
Prior to joining JTC, Essoo was the UK managing director at SGG Group and before that
The European Energy Exchange (EEX) and the independent carbon trading company Belektron have signed a cooperation agreement to further facilitate access to the primary market auctions at EEX.
The cooperation aims at opening the emissions auctions to a wider customer base, in particular, for smaller and medium-sized companies (SMEs).
Belektron will act as an intermediary who is admitted at EEX to enter bids into the auction system on behalf of its clients. The arrangements for bidding in the auctions via Belektron have been jointly developed by Belektron and EEX. In particular, Belektron guarantees to offer its services equally to
The London Stock Exchange’s (LSE) proposed merger with Deutsche Börse may not now go ahead after the LSE ruled out selling its 60 per cent stake in fixed-income trading platform MTS.
The European Commission had ordered LSE to sell its majority stake in MTS to secure clearance for the merger.
MTS is a regulated electronic trading platform for European wholesale government bonds and other fixed income securities. It is a relatively small part of LSE’s business but is classified as a “systemically important regulated business” in Italy, where LSE also owns the Milan-based Borsa Italiana.
According to LSE,
FIX Trading Community, the non-profit financial trading standards body, has published a document detailing extensions to the FIX Protocol to meet the requirements of MiFID II and MiFIR.
The FIX Global Technical Committee has approved these changes and these are now available to use within the industry.
Members of the FIX Trading Community have been convening regularly since the summer of 2015 to address the impact to workflows that investment firms will face due to increased regulation. By walking through a number of different trading scenarios, members have been able to document what additional data will be required to
Managed futures traders lost 0.73 per cent in January, according to the Barclay CTA Index compiled by BarclayHedge.
Seven of Barclay’s eight CTA indices lost ground in January.
The Diversified Traders Index was down 1.20 per cent, Systematic Traders lost 0.87 per cent, Currency Traders were down 0.51 per cent, and Financial/Metals Traders gave up 0.33 per cent.
“Profits from the continuing rally in global stock markets were not enough to overcome losses resulting from trend reversals in energy, US Dollar weakness, and sharply rising European yields,” says Sol Waksman, (pictured) founder and president of BarclayHedge.
The
By Dan Viola, partner, Sadis & Goldberg – Status of the new DOL fiduciary rule. The Department of Labor’s (the DOL) new fiduciary ruling (the Rule) has created strife in the securities industry and has the potential to significantly impact how financial advisers and brokers will manage retirement accounts in the future.
Currently, brokers, financial advisers, and other finance professionals don't legally have to act in a client's best interest, with few exceptions, such as those who are registered as investment advisers with the US Securities and Exchange Commission or in individual states. Those who aren’t registered, like brokers, just have to prove
The Foreign Exchange Professionals Association (FXPA) has elected a slate of new board members, as well as four officers to serve on the its executive committee (ExCom).
FXPA members re-elected Chip Lowry (pictured), senior managing director of State Street Global Markets, as chair, and Sean Tully, senior managing director, financial and OTC products, CME Group, as treasurer.
FXPA members also elected two new officers to the ExCom: Fulinda Rouse, co-head of global accounts, EBS BrokerTec, as vice chair, and Paul Millward, head of FX product strategy, Bats Global Markets, as secretary.
Rouse succeeds Jill Sigelbaum, global head of
