Solutions
GFI Group, a global OTC and listed markets intermediary, has signed a multi-year contract for the use of Torstone Technology’s Inferno back office technology for Reconciliations.
GFI has chosen Torstone’s back office software to improve business agility, management control (given the current regulatory environment) and reduce the total cost of ownership.
The Torstone Reconciliation module is a component of the Inferno back-office system can handle significant volumes on commodity hardware. Its real-time, event-driven, service-orientated architecture helps firms to achieve high rates of STP and react to new market changes in a timely manner.
“Working with an agile technology
Private financial cloud provider Options has partnered with Orchestrade Financial Systems to deploy its fully integrated position keeping, operations and risk management software to the Options platform.
The partnership sees the IaaS provider offer clients a flexible, fully managed and hosted platform for cross-asset trading.
Orchestrade’s technology enables the management of risk and operations across all asset classes in an efficient and cost-effective manner. The software offers the ability to manage in real time portfolio holdings, measure risk and run operations on one single platform.
The Options-Orchestrade solution has been deployed as part of the Options’ Momentum service
Euronext has launched weekly expiry dates on its CAC40 and AEX future contracts.
The initiative, the first of its kind in Europe, complements the existing offer where futures contracts expire on a monthly or quarterly basis.
The shorter expiry period will provide members with more trading possibilities, an opportunity for improved risk management, and an efficient hedging tool during the dividend season or when trading AEX weekly options.
The product will be launched in the fourth quarter of 2014.
Weekly expiry dates on futures will respond to demand from clients looking for shorter expiry solutions and who are not
A new book by Stéphane Crépey, Tomasz R. Bielecki and Damiano Brigo offers a fresh take on mitigation of counterparty risk, a key problem of the 2008 global credit crisis and current European sovereign debt crisis.
Counterparty Risk and Funding: A Tale of Two Puzzles (Chapman and Hall/CRC Financial Mathematics Series) gives a ground-up approach for analysis and managing of risks associated with non-payment of promised cash flows due to the default by a party in an over the counter derivative transaction.
It should be of value to researchers, graduate students, financial quants, managers in banks, CVA desks, and
Convergence, an information and advisory services provider to alternative asset managers, service providers and investors, has launched a new product suite and website.
Convergence captures, normalises and enriches 100 per cent of all registered investment advisors’ Form ADV, Brochure and Supplemental Schedule information filed with the SEC. This core data is updated daily and supplemented with public domain intelligence relevant to the RIA.
“Our early experience with clients helped us shape the future direction of the firm,” says co-managing partner John Phinney. “Leveraging our significant experience in the alternative asset management industry, the Convergence team brings an insider’s perspective
RFA (Richard Fleischman & Associates), a technology advisor to investment management clients, has opened a London office in the heart of Mayfair.
The new office will extend RFA's technology portfolio with a local presence in the UK.
RFA now serves over 520 firms, with a client base whose combined assets under management near USD1 trillion (GBP584 billion).
The complete portfolio of RFA technology and services will be available locally in the UK, including RFA Cloud, disaster recovery, fully-managed IT, design and implementation services.
"London is a leading global centre for the asset management industry, and we look
The European Securities and Markets Authority (ESMA) has launched a first round of consultations to prepare for central clearing of OTC derivatives within the European Union.
The two consultation papers seek stakeholders’ views on draft regulatory technical standards (RTS) for the clearing of Interest Rate Swaps (IRS) and Credit Default Swaps (CDS) that ESMA has to develop under the European Markets Infrastructure Regulation (EMIR).
With the overarching objective of reducing systemic risk, EMIR introduces the obligation to clear certain classes of OTC derivatives in central clearing houses (CCPs) that have been authorised (European CCPs) or recognised (third-country CCPs) under
Eurex is set to extend its product range by introducing a listed variance future on 22 September 2014, based on the EURO STOXX 50, the most prominent equity index in Europe.
Variance futures replicate the pay-off profile of a variance swap using a daily-margined futures contract. Instead of a final settlement payment upon expiry the pay-off profile of a variance swap is calculated as the sum of all variation margin payments through the period the variance futures contract is held.
Variance futures are standardised instruments that are fully fungible and can be traded in a central order book. It
Euronext has launched Spotlight Options on six companies listed on its Amsterdam market: Telegraaf Media Groep, Sligro Food Group, Exact Holding, Accell Group, Altice and BE Semiconductor Industries.
Spotlight Options give more visibility to underlying assets such as medium and smaller sized companies and newly listed stocks through a unique combination of liquidity provider support and strong promotion by sponsoring brokers.
Spotlight Options are a special segment on the Amsterdam and Brussels derivative markets of Euronext, dedicated to the development of new option classes requested by market participants.
The options will have short-term maturities of one, two and
Liquidnet saw record second quarter performance in Asia Pacific as the company benefited from strong demand across the region for safe access to block trading among large institutions.
Principal traded climbed to a record USD6 billion, marking a four per cent increase on the previous quarter which was also a record.
The region reported record average daily liquidity of USD11.6 billion, a nine per cent jump from Q1 2014.
The average trade size across the region during the quarter was around USD1.2 million, an increase of seven per cent over the first quarter.
Lee Porter, head of
