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NYSE Euronext has completed its acquisition of Nyfix, a provider of solutions that optimise trading efficiency, in an all-cash deal for approximately USD144m, or USD1.675 per common share without interest plus preferred stock consideration.
The acquisition, which was made through NYSE Technologies, expands NYSE Euronext’s pre-trade product offering and global buy-side and sell-side communities.
With the completion of the acquisition, the Nyfix Fix business, which incorporates the company’s Nyfix Marketplace and the Fix Software business, now becomes part of the offerings of NYSE Technologies.
Nyfix Euro Millennium operations will cease immediately with a view to customers bringing their liquidity to
Concept Capital, an institutional broker and total solutions provider to the investment management industry, has partnered with SAS, a provider of business analytics software and services.
As a result of the collaboration, Concept Capital will offer a full suite of analytics that will provide integrated, multi-custodial risk and performance reporting to investment managers, family offices and investors.
With SAS risk management software, Concept Capital will significantly expand the capabilities of its flagship product, Conceptone.
“We believe there is a huge opportunity to bring an integrated solution to the market that will combine portfolio analytics and advanced risk management capabilities to
Structured investment specialist Blue Sky Asset Management has launched two growth plans offering core holding and tactical investment strategies.
The plans are designed to offer investors solid investment returns potential, without the need for the underlying equity markets to rise during the investment term.
The Capital Accumulator Auto-Call – Dual Index Series IV offers investors 22.5 per cent fixed growth potential at year two, with an automatic early closure feature if the FTSE 100 and S&P 500 indices are at or above their initial levels with no growth in either index required.
If the Plan does not close early at
Laffitte Capital Management has launched an arbitrage equity fund using a Ucits III format, called Laffitte Equity Arbitrage.
The fund’s strategy is to detect the best arbitrage opportunities in Europe and in North America by using a double thematic approach.
Event aggregates long/short positions based on catalysts like merger, pre-merger or index re-balancing, while thematic structure of capital positions are based on right issues, dual listing, share class, arbitrage and holding arbitrage.
“Our goal is to propose our clients a wider arbitrage fund uncorrelated to the equity markets. The process is similar to our other funds. It uses a fundamental
Daiwa Securities Global Asset Services Ireland has been appointed by Belay Partners London, to provide administration services to its new Cayman domiciled hedge fund, The Belay Master Fund, which is due to launch on the 1 December 2009.
The fund is a European equity long short hedge fund and will be co-managed by Daoud Zekrya, previously a partner of Marshall Wace where he was jointly responsible for running the Core Fund, and Harry Tyser, who previously ran New Star’s Firefly hedge fund.
The Belay Fund will combine a fundamental strategy run by Zekrya and a tactical strategy run by Tyser.
Hennessee Group, an adviser to hedge fund investors, believes the equity markets are likely to continue their momentum heading into the end of the year and lead to additional gains for investors during the month of December.
Charles Gradante, co-founder of the Hennessee Group, says: “We believe the ‘December effect’, whereby investors choose to defer paying taxes on equity market gains until the following year, will provide additional support to the equity markets as we close out the year. And historical data seems to support this thesis as the equity markets have experienced gains during the final month of the
Veritas Asset Management has appointed Guy Davidson to the newly established position of UK regional discretionary sales manager.
Davidson’s primary role will be to develop and strengthen Veritas’s relationships with regionally based discretionary asset managers across the UK, helping to promote the firm’s suite of global and Asia products.
He will also be responsible for relationship management and business development with the head offices of national wealth management firms.
Davidson has over 19 years of experience with wholesale clients, most recently at UBS Global Asset Management where he spent seven years as regional sales director building the profile of the
Alternative Asset Management has launched the A2M Lion Fund, a multi-strategy fund that combines the non-correlated strengths of both the foreign exchange and equity futures markets.
Underlying managed accounts have combined assets of over USD170m.
The fund will invest in only proven strategies with low volatility characteristics: StdDev 2.35 per cent monthly; +18.01 per cent annualised net returns since Aug 2006; +13.93 per cent 12 months rolling.
Investors have the flexibility to chose the Lion Fund as an investment on its own merits or the Lion Fund + 2.5 x leverage or the Lion Fund + leverage + 100 per
Michael Hadjedj and Stephane Mardel, the former global heads of the special situations and merger arbitrage desk at Icap in London, have launched an independent international brokerage and advisory firm, United First Partners.
The brokers will lead a London-based team of eight former employees of Icap, the world’s biggest broker of transactions between banks.
UFP’s brokerage services will cover multiple asset classes across the UK, Europe, and the US, with plans to expand into other classes and regions.
The attitude behind UFP is to provide independent research, free of conflict of interest by not providing advisory services such as corporate
Deutsche Börse now has 100 Eurex and Xetra participants, vendors and service providers using its two Proximity data centres in Frankfurt.
The centres provide the low latency and the high bandwidth of the Enhanced Broadcast Solution and Enhanced Transaction Solution interfaces.
Another five customers are soon to be connected.
"This confirms Deutsche Börse Group’s irrefutable role as leading European exchange in this field and highlights its attractiveness for trading houses that pursue latency-sensitive algorithmic trading strategies," says Matthias Kluber, executive vice president and head of networks and infrastructure at Deutsche Börse Systems. "Since the launch of the first Proximity data
