Latest News
Some computer-driven quant funds are benefitting from the current turmoil in the cryptocurrency markets, according to a report by The Financial Times.
Despite trillions having been wiped from the total value of cryptocurrencies recently causing many investors and funds to incur big losses, some algo-driven funds have banked big returns on the declines in the value of major cryptocurrencies including bitcoin, ether and luna.
The report cites Lehman Brothers and Morgan Stanley trader Jay Janer, the founding partner of KPTL Arbitrage Management in the Cayman Islands, as being among the group of investors to have benefited.
Jahner’s Appia fund banked
CME Group is to expand its suite of long-term interest rate products to offer the first-ever 30-Year Uniform Mortgage-Backed Securities (UMBS) TBA futures contracts on 3 October, pending regulatory review.
The 30-Year UMBS TBA futures contracts will be fulfilled by delivery of TBAs cleared by the Fixed Income Clearing Corporation’s Mortgage-Backed Securities Division, a subsidiary of The Depository Trust & Clearing Corporation (DTCC). The contracts will offer mortgage lenders, issuers, servicers and other participants an exchange-traded and centrally cleared tool for price discovery and risk transfer. The futures will represent 30-year residential mortgages pooled into UMBS products backed by Fannie
BNP Paribas (BNPP) has appointed John Jenkin as head of prime services technology.
Jenkin joins the bank from JP Morgan where he worked as head of prime finance technology and brings with him over twenty years’ experience within global business critical technology. He is based in London and reports to Adalbert de Broglie, CIO Global Markets at BNP Paribas.
This newly created role will align prime services technology further with the prime service business unit, led by Ashley Wilson (head of prime services, global equities). This demonstrates the bank’s commitment to the growth of prime services within the wider
FalconX, a digital assets platform for institutional investors, has raised $150 million in a Series D financing round, valuing the company at $8 billion.
German stocks exchange operator Deuctshe Börse has partnered with French firm Kaiko for the provision of crypto market data, according to a report by CoinDesk.
BitGo, a specialist in digital asset financial services, has appointed Adam Sporn as head of US institutional sales.
Sporn, who joins from State Street, where he served as Managing Director, will lead a US institutional sales team that provides clients with regulated, insured, and qualified custody, as well as financing and execution services through a single platform. Since 2020 BitGo offers trading, lending, and borrowing services through its prime brokerage services.
Sporn is a seasoned financial sales executive with over 20 years of experience in facilitating senior securities finance and prime brokerage sales. Most recently, he was a managing
Neptune Networks Ltd, a fixed-income pre-trade market utility, and Genesis Global, a low-code application development platform purpose-built for financial markets organisations, is to launch a new expanded Neptune platform developed by Genesis in early July.
The enhanced Neptune service will offer its 115 clients and dealers a new web interface and several new features including: single name CDS, support for emerging market bonds and improved market analysis, including axe skews. All prior services and functionality offered by Neptune will remain available on the new platform.
Genesis began development of the new Neptune service in January and the firms believe
Bloomberg, MarketAxess and Tradeweb Markets have announced an initiative to jointly explore the delivery of a consolidated tape for fixed income instruments in the European Union, with the intention to apply to become the consolidated tape provider (CTP) through the public procurement procedure, which the European Securities and Markets Authority, ESMA, will organise.
The companies believe that European financial markets would benefit greatly from a well-functioning fixed income consolidated tape, and industry collaboration will be essential to delivering a solution that utilises existing infrastructure to provide end users with access to reliable, high-quality MiFID II data.
The consolidated tape
Short covering may be a major contributory factor to Tuesday’s US stock market bounce, according to a report by Bloomberg.
Euronext Clearing, Euronext’s multi-asset clearing house formerly known as CC&G, has introduced a new VaR-based margin methodology on government bonds traded on MTS cash and repo platforms and BrokerTec and on MOT, EuroTLX and Hi-MTF platforms.
The introduction of the new methodology falls under the next-to-come market best practice, following state of the art risk principles and parameters. The new VaR framework is a first major step toward the European expansion of Euronext Clearing, marking an important milestone of the Euronext “Growth for Impact 2024” strategic plan.
The VaR-based margin methodology for Italian, Portuguese, Spanish, and Irish government bonds has
