Solutions
Sapient Global Markets has launched a cloud-hosted version of its Compliance Management and Reporting System (CMRS).
CMRS allows firms to collate vast amounts of data from disparate systems, apply reporting eligibility logic, translate it into the destination message format, and deliver it directly to swap data repositories (SDRs) such as The Depository Trust & Clearing Corporation (DTCC).
Sapient Global Markets will offer CMRS as a cloud-based solution that enables firms to quickly build, deploy and manage applications across a global network of data centres. CMRS directly addresses OTC swaps data reporting requirements from regulations including the Dodd-Frank’s Title
Clients of electronic trading technology provider InfoReach can now access two of the most popular tools in the global trading community directly from InfoReach trading platforms.
New integration with the “R” programming language and a new interface for Bloomberg data fields eliminate the need for traders to toggle between software programmes to view the information they need.
The open-source “R” programming language is emerging as the dominant cutting-edge software for quantitative finance and optimisation. Designed expressly to analyse and display large amounts of data, R is now the most popular data analysis and visualisation system with more than
INDOS Financial, the independent Alternative Investment Fund Managers Directive (AIFMD) depositary business, plans to use the FundApps Rapptr system to perform oversight over a hedge fund’s compliance with investment guidelines and AIFMD leverage limits.
Bill Prew (pictured), chief executive of INDOS Financial, says: “Monitoring a hedge fund’s compliance with investment restrictions and AIFMD leverage limits will be a key element of our AIFMD depositary oversight duties. The FundApps Rapptr service will enable us to perform this monitoring in a regular and robust manner. By making the results available to our clients, it also demonstrates one of a number of
Veritas Asset Management has implemented the latest version of Advent Portfolio Exchange (APX).
An Advent client since 2006, Veritas has seen its assets grow from GBP1bn (USD1.5bn) to GBP9.4bn (USD14.8bn) in the time since it first implemented APX.
James Spence, investment operations manager for Veritas, says: “Working with Advent solutions has supported our almost exponential growth with a minimal increase in headcount. APX has given us the scalability and flexibility to manage the kind of growth we were hoping to achieve – and ultimately did.”
With a mix of globally diversified client portfolios and a series of
Pelagus Capital Fund has cleared OTC interest rate swaps (IRS) at LCH.Clearnet’s SwapClear using Newedge’s SwapClear clearing membership, which operates alongside its futures commissions merchant membership.
Pelagus, a fixed income relative value fund, already cleared OTC trades on LCH SwapClear to comply with OTC clearing requirements and benefit from reduced counterparty risk, an efficient and industrial collateral management service, and potential capital and margin efficiencies.
Peter Jayawardena, chief operating officer of Mako Investment Managers, investment manager to Pelagus, says: “We were early adopters of OTC clearing and are pleased to have now worked with Newedge on this business
In September Citigroup, Credit Suisse, Merrill Lynch, and Morgan Stanley and will begin to offer to their clients direct market access (DMA) to securities trading on Moscow Exchange.
It is expected that two additional major global banks will start the service later this year.
The exchange’s shift to T+2 settlement, as well as the establishment of centralized clearing and a central securities depository, have paved the way for direct market access for foreign investors to trade Russian securities on Moscow Exchange.
International investors, through the new exchange infrastructure, will be able to trade equities, while collateral for
REGIS-TR and TriOptima will provide portfolio reconciliation of REGIS-TR’s trade repository data with data in TriOptima’s triResolve reconciliation service for OTC derivatives as requested by their clients.
With the impending regulatory deadlines in Europe for both trade reporting and portfolio reconciliation, companies affected by the new rules are currently seeking solutions for both requirements. By 15 September, financial and non-financial firms will have to start reconciling their OTC derivatives portfolios; and trade reporting will begin on 1 January 2014 under ESMA’s rules.
REGIS-TR has seen its client base double in a three-month period with over 400 pilot customers
In August 2013, the international derivatives markets of Eurex Group recorded an average daily volume of 6.6 million contracts, compared with 7.2 million contracts in August 2012.
Of those, 4.5 million were Eurex Exchange contracts (August 2012: 5.1 million), and 2.1 million contracts (August 2012: 2.1 million) were traded at the U.S.-based International Securities Exchange (ISE). In total, 98.9 million contracts were traded at Eurex Exchange and 46.4 million at ISE.
At Eurex Exchange, the equity index derivatives segment totalled 44.1 million contracts (August 2012: 56.8 million). The future on the Euro Stoxx 50 Index recorded 16.7 million
August trading volume in VIX futures totalled 3,488,149 contracts, an increase of 83 per cent over August’s total in 2012 and a gain of 19 per cent over the previous month, according to figures released by the CBOE Futures Exchange.
Average daily volume in VIX futures during August was 158,552 contracts, an increase of 91 per cent over August 2012 and up 19 per cent from July.
Year-to-date trading volume in VIX futures is outpacing last year by 97 per cent. Through the end of August, a total of 27.1 million VIX futures contracts have traded.
ICAP SEF (US) has filed its application to be a swap execution facility (SEF) with the Commodity Futures Trading Commission (CFTC) in compliance with the Dodd-Frank Act.
The ICAP SEF will operate markets across multiple asset classes, including interest rate swaps (IRS), credit default swaps (CDS), equity derivatives, commodities and NDFs.
ICAP will offer trading in cleared and uncleared swaps and intends to operate central limit order books (CLOB) and request for quote (RFQ) systems, as well as offering block trade capabilities, electronic crossing and execution via brokers.
Participants will be able to access the ICAP SEF
