Solutions
Nasdaq Futures, Inc (NFX), the exchange group's US-based energy futures market, has approved 16 Futures Commission Merchants (FCMs) as new members.
Some of the new members include: ABN AMRO Group, ADM Investor Services, Advantage Futures, Citigroup Global Markets, ED&F Man Capital Markets, Goldman Sachs, INTL FCStone, J.P. Morgan, Merrill Lynch, Mizuho Securities USA, Phillip Capital, Rosenthal Collins Group, Societe Generale and Wedbush Futures.
"Nasdaq's new initiative dramatically reduces clearing and exchange fees," says Joseph M Guinan, Jr, Chief Executive Officer, Advantage Futures. "Competition improves markets. NFX benefits clients and Advantage Futures enthusiastically supports this launch."
"We provide our customers financial
The Euronext Milling Wheat futures contract listed on the Johannesburg Stock Exchange (JSE) is showing encouraging levels of market interest, following its official start of trade on 8 July. To date, the JSE has traded just over 10 000 tons of wheat.
Trading value recorded is close to SA Rand 24 million. Open interest is at 204 contracts, indicating a healthy start for the contract. Open interest records the number of contracts for particular futures that are outstanding.
As part of a mutual license agreement finalised in February 2015, the JSE indicated it would offer market participants a cash-settled
Cowen Group is to acquire Concept Capital, an independent provider of prime brokerage services. Financial terms of the deal have not been disclosed, but Cowen Group expects the acquisition to be accretive to earnings in 2015.
The transaction has been approved by the board of directors of both companies.
“Concept Capital’s strong presence among emerging hedge fund clients complements Cowen’s focus on providing best-in-class products and services to institutional clients,” says Peter A Cohen, Chairman and CEO of Cowen Group. “Given the changing prime broker landscape, many investment managers are looking for alternative prime solutions and there are a limited number of
To help overcome the increased reporting burden faced by private equity managers, SEI has developed an automated end-client reporting capability. It comes at a time when global PE firms are having to adapt to regulation in the form of AIFMD and Annex IV reporting, not to mention a desire by LPs to derive greater transparency from their PE allocations.
Indeed, LPs are themselves coming under increased regulation – for example, insurance companies who need look-through reporting capabilities to manage their Solvency Capital Ratios under Solvency II.
This is putting pressure on back-office teams to generate reports in a more timely
Nomura Research Institute (NRI) has implemented two ASP back-office systems, THE STAR*1 and I-STAR*2, at Nomura Securities (Nomura), the largest securities firm in Japan.
As a result, Nomura has successfully discontinued the use of its in-house back-office systems for retail markets and street-side settlement of capital markets in Japan.
Although Nomura’s in-house system was flexible, the cost to maintain it was increasing rapidly year-over-year because of the ongoing updates which left the securities firm with an intricate and complex back-office system. Nomura completed the implementation of NRI’s retail back-office system, THE STAR, on Jan. 4th, 2013 and its capital
Five years ago, UCITS funds weren't exactly a prominent blip on the radar screen at Société Générale Prime Services, but over the last two years, excluding managed accounts, they have accounted for approximately 50 per cent of all new funds onboarded by the business in Europe.
Andrew Dollery (pictured) is Director, Origination & Structuring at Société Générale Prime Services. He looks after many of its UCITS fund clients and is also actively involved in the structuring and servicing of '40 Act funds, as well as hedge funds and managed accounts.
"It is relatively easy to launch a UCITS fund. We
Flow Traders, a global technology-enabled liquidity provider that specialises in exchange traded products (ETPs), has listed on Euronext Amsterdam.
Flow Traders quotes bid and ask prices, enabling market participants to buy and sell ETPs efficiently and provides liquidity in over 4,000 ETP listings across the globe, tracking all underlying asset classes including equities, fixed income, commodities and currencies. Flow Traders is headquartered in Amsterdam with trading offices in Asia and the US covering all time zones.
The total offering of Flow Traders was valued at EUR521 million. After opening, the market price was EUR34.00 per share. Based on the
RIMES, a provider of managed data services for the buy-side, has announced a number of new data sources in its portfolio, which were added in the first half of 2015.
RIMES has introduced these new sources in response to demand from asset managers’ and asset owners’ customers.
With buy-side firms’ reliance on data growing overall, RIMES consistently meets the demand for new indexes by continually refreshing and updating its portfolio. More than 20 new data sources have been added since the beginning of the year, bringing the total to over 800 datasets from nearly 200 data partners.
Alessandro
Bitcoin analytics and security firm Elliptic and bitcoin derivatives exchange Crypto Facilities have launched a settlement and clearing mechanism that separates bitcoin custody from all other exchange functions.
Crypto Facilities’ client accounts are now hosted in Elliptic’s secure, KPMG-accredited vaults and are fully insured by an A-rated, Fortune 100 underwriter. Each client owns their own segregated, ring-fenced account which is settled on the blockchain every day. Any movement in the account is exposed to the client and can be independently verified on the blockchain.
The industry-first solution overcomes the traditional setup of bitcoin trading venues in which client assets are typically managed
As of 7 August 2015, GMEX will provide a Euro-denominated IRS Constant Maturity Future (CMF) for trading and clearing on Eurex. Both parties agreed on this cooperation at the end of 2014.
The cooperation will facilitate the electronic arranging of CMF contracts on GMEX’s platform with trade confirmation and central clearing taking place at Eurex.
“The regulatory reforms have spurred market demand for our CMF contract as it brings the benefits of futures trading closer to OTC products, while delivering the efficiencies of centralised order execution, standardised central clearing and effective hedging of interest rate exposure. Launching a unique product
