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Singapore Exchange (SGX) and The Philippine Stock Exchange (PSE) have entered into a Memorandum of Understanding (MOU) to cooperate in the development of Philippines-linked derivatives products.
As part of the MOU, SGX and PSE will jointly explore the development and promotion of Philippines futures and options to address the demands of international investors. The first product to be launched would be a Philippines index futures, based on the MSCI Philippines index. The product is targeted for listing on SGX in 4Q2013, subject to regulatory approval. Both exchanges will also look into the potential listing of derivatives products on PSE in
While many market observers are impressed by suddenly soaring European stocks, Paul Chew, Head of Investments at Brown Advisory is sceptical about a continued run in 2013…
Europe is a land of contradictions which was clear in 2012 as its economy and capital markets took off in opposite directions. While on the one hand, the EU is struggling with multiple sovereign-debt crises, and even though it fell back into recession, European stocks have in fact turned in excellent performance.
Yet we remain unconvinced that European equities will continue their strong run. European policymakers may have prevented a financial crisis last year,
Eurex Group and the Bombay Stock Exchange (BSE) have agreed to deepen their strategic partnership through a long-term technology alliance under which BSE will join the Eurex technology roadmap and deploy Deutsche Börse Group’s trading architecture in a first step.
BSE aims to replace its derivatives market platform in the course of 2013 and plans to subsequently replace also its cash market platform. This agreement is an important step in further developing the strategic partnership between Eurex and BSE.
The new partnership in the technology sphere will allow BSE to quickly achieve the highest global standards for speed, reliability and
Torstone Technology, providers of securities and derivatives processing software to the global financial markets, has readied its Inferno post-trade processing solution for Financial Transaction Tax (FTT) and is rolling out the upgrade to existing clients.
Some 11 European countries have decided to impose the FTT across a range of equities and derivatives with France and Italy being first to introduce the tax.
Highly configurable, Inferno is built for adaptability enabling rapid customisation for clients and a speedy response to new market requirements. Brian Collings, chief executive of Torstone Technology says: “FTT is a core systems upgrade as far as we are
The US Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight has issued a letter advising the Bolsa de Valores, Marcadorias e Futuros (BVMF-Brazil) that its MICEX Index, Hang Seng Index, FTSE/JSE Top 40 Index, and the BSE Sensitive Index futures contracts submitted for review on 25 January, 2013, have now been deemed certified.
The contracts satisfy the requirements of the Commodity Exchange Act and the Commission’s Regulations and may be offered or sold to persons in the US through the BVMF’s direct access terminals located in the US.
Ada Investments is to migrate its core services and production applications to Gravitas Private Cloud, a secure, scalable and integrated solution built on VCE’s VBlock state-of-the-art virtualisation and cloud technology.
"Faced with unprecedented challenges to reduce their overall technology costs and enhance operational efficiency, alternative asset management firms are seeking proven, enterprise-strength technology partners who can provide an array of solutions that will allow them to spend more time on investing and less on managing IT issues," says Gravitas CEO Jayesh Punater. "The steadily growing demand for application delivery through a hosted cloud platform has created a need for a resilient,
Options, provider of the Options PIPE Private Financial Cloud, a managed infrastructure platform for the trading and alternative investment communities, has expanded connectivity to additional global foreign exchange markets and has upgraded connectivity between the major US trading venues.
With these additions, Options now provides clients with high performance and highly available connectivity to more than 60 markets, including ultra-low latency connectivity in the NJ2 and NY4 data centres to Barclays, Citi, Credit Suisse, Currenex, Deutsche Bank, EBS (ICAP), FXAll, Reuters Dealing, UBS and Hotspot FX (Knight).
"Our new connections to global FX markets reflect our ongoing strategy of
Mercer and CAIS have expanded their existing relationship by making Mercer’s suite of institutional investment advice, research, products, and tools available through CAIS.
Mercer will continue to provide due diligence and ongoing monitoring for all funds that list on CAIS.
Mercer will provide CAIS member firms thematic portfolio construction guidance, analytic tools, model portfolios, fund and industry research, and ongoing educational resources and support. Additionally, CAIS and Mercer will host a series of alternative investment focused advisor educational sessions globally in 2013.
"With their longstanding commitment to servicing the wealth management industry and over 150 research professionals globally, Mercer’s research-driven
The Court of Appeal of the Eastern Caribbean Supreme Court on 11 March handed down an important ruling on the question of where investors stand in the “waterfall” of distributions in the liquidation of investment funds under British Virgin Islands law.
According to law firm Harneys, it affirms the widely held industry view that debts owed to past members for redemption proceeds provide them with deferred creditor status and thus they rank behind external creditors of the company, but their claims have priority over the interests of existing members in the liquidation of a BVI company.
The decision brings certainty
MSCI has entered into a definitive agreement to sell its CFRA business, a provider of forensic accounting research, to a private investor for an undisclosed purchase price.
The transaction is expected to close within the next two months, subject to customary closing conditions.
CFRA is included within MSCI’s governance business segment for financial reporting purposes.
The transaction is not expected to have a material impact on MSCI’s results of operations.
Davis Polk & Wardwell acted as legal advisers to MSCI.
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