Solutions
ICAP has launched Hazard Rates and Survival Probabilities as part of an expanded end of day Credit Derivatives Service.
Hazard rates are often referred to as the default intensity or conditional default probability of a specified company while survival probabilities are the unconditional probability of no-default (survival).
Hazard rates provide a more sensitive way of looking at default risk than simple asset prices, and can be used in many aspects of credit risk modelling.
Launched in October 2012 in conjunction with Rapid Ratings, ICAP Credit Derivatives closing service provides daily levels and full term structure for more than 200 European
DST Systems’ US Investment Recordkeeping solution is now supporting over 1.5 million accounts in the alternative investment space.
DST, the largest provider of third-party shareholder recordkeeping services in the mutual fund industry, also supports a full range of retail alternative investment products, including institutional and retail hedge funds, closed end interval funds, business development companies, managed futures, limited partnerships, and non-traded Reits.
"Companies in the financial services market have long depended on DST’s industry experience, technological expertise, and service excellence to help them grow their businesses," says Chris Shaw, operations officer for DST’s US Investment Recordkeeping unit. "This remains true
The Credit Suisse Liquid Alternative Beta (LAB) Index was up 1.10 per cent in January, according to Dr Jordan Drachman, head of alternative beta strategies at Credit Suisse.
The merger arbitrage strategy was the strongest performer for the month, finishing up 2.31 per cent.
The index aims to reflect the performance of the overall hedge fund industry.
Bank of America Merrill Lynch has launched Instinct Natural, an enhancement to its alternative trading system (ATS) Instinct X, aimed at increasing opportunities to execute block trades while minimising market impact.
“We want to make it easier for our clients to find liquidity so we’ve built a central platform where natural flow can interact,” says Jason D Crosby, global head of portfolio sales and head of Americas institutional execution services sales. “With Instinct Natural, clients can tap the vast, uncorrelated, natural order flow that comes through our firm. We expect this will quickly become the place to go for size
January trading volume for options contracts on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures Exchange (CFE) totalled 89.02 million contracts.
Average daily volume (ADV) in January was 4.24 million contracts, up eight per cent from 3.93 million contracts in December 2012 and down seven per cent from 4.56 million contracts in January 2012.
In January, CBOE Volatility Index (VIX) options and futures both established record-breaking monthly trading volumes.
January 2013 ADV at CBOE was 3.85 million contracts, down 11 per cent from January 2012 ADV of 4.32 million contracts and up
In January 2013, the international derivatives exchanges of Eurex Group recorded an average daily volume of 8.7 million contracts, compared with 8.2 million contracts in January 2012.
Of those, 5.9 million were Eurex Exchange contracts (January 2012: 5.5 million), and 2.8 million contracts were at the US-based International Securities Exchange (ISE) (January 2012: 2.7 million).
In total, 188.2 million contracts were traded, thereof 129.9 million at Eurex and 58.2 million at the ISE.
Eurex Exchange recorded in its equity index segment 47.9 million contracts compared with 59.8 million contracts in January 2013. Futures on the Euro Stoxx 50 Index stood
Citi is launching a new product quoting UK natural gas contracts denominated in euros rather than British pounds.
The product, aimed at European counterparties active in the UK and continental gas and power markets, is designed to reduce the cost and administrative burden for traders, treasury departments and CFOs who are required to manage volatility in cash-flows arising from cross-border risks.
While such contracts have been offered previously on a bilateral, over-the-counter basis, Citi is the first party to offer broker market liquidity in this manner. The bank will show live bid and offer data via Tullett Prebon and will
TPG is to acquire Eze Castle Software, a provider of global order management and related investment technologies, and RealTick, a multi-broker, cross-asset electronic execution platform, from ConvergEx Group.
This all cash transaction is expected to close in Q1 or Q2 of 2013. Financial terms have not been disclosed.
The newly formed company will be called Eze Software Group. Following the close of the transaction, Eze Software Group will acquire Tradar, a supplier of portfolio management and accounting solutions.
Eze Software Group will bring together the product offerings and global market expertise of Eze Castle Software, RealTick, and Tradar into a
Depleted wallets, order allocation, CSA and algo trends, regulations and top brokers point to similarities between the US and European markets, but wallets and regulation will cause divergence, says Miranda Mizen, TABB’s director of equities research.
Lower volumes have hit both continents hard, but the combination of a European wallet that plummeted in 2012 and the opening door to commission-sharing agreements (CSAs) will cause those who trade in Europe to choose brokers and products with a different eye, according new TABB Group research, “US and European Buy-Side Equity Trading: An Aggregated View”.
Most importantly, equity market structure change is on
Eze Castle Integration, a provider of IT solutions and private cloud services to hedge funds, has launched Eze App Cloud, a private cloud application delivery platform developed exclusively for application providers.
Built on the company’s Eze Private Cloud, the hedge fund industry’s most broadly deployed and used private cloud, Eze App Cloud enables application providers to combine their software with a cloud infrastructure to give clients a complete, cost-effective package that speeds time to value.
There are already more than 60 applications delivered via the Eze Private Cloud, which features 24/7 system and security monitoring and professional management; N+1 infrastructure
