Solutions
Torstone Technology has secured a new contract for the provision of Inferno for post-trade securities processing and trade accounting at London-based Daiwa Capital Markets Europe.
The four year deal, negotiated with Daiwa Institute of Research – the global systems integration and research arm of Daiwa Securities Group – will involve the ongoing use of Torstone’s Inferno for convertible bonds and associated equity/hedge products, and for FX/MM treasury functions.
The firm’s cash equity business will also move to the system by the end of 2012 and fixed income securities will follow in 2013. Inferno will then become the sole back office
PrimeOne Solutions, a division of CoreOne Technologies, offering a full-service, global prime brokerage platform, has hired five senior executives to its management team.
The new additions include Brad Klaas, named Global Head of Business Development and Alistair Martin, Deputy Head of PrimeOne Solutions. In addition, James Hogan has been named Head of Trading Technology along with Andre Augustine, Prime Services Business Analyst and Jozef Spiska as Head of Reporting Technology.
“With our rapidly growing client base and increasingly successful business model, the strategic next step was to expand our team to include highly respected professionals with an average of more
Vega-Chi US is to launch its US high-yield bond electronic trading platform for institutional investors on 24 October.
The Vega-Chi trading platform will be the first of its kind, offering institutional investors the ability to trade directly with each other in an exchange-like electronic setting without the need for intermediation by a broker-dealer and therefore enabling institutional investors to achieve better pricing for their trades.
Vega-Chi will launch with more than 45 institutional users and expects the number of participants to exceed 80 within the first three months of trading.
Demand from institutional investors for more efficient trading comes at
Bloomberg has announced access to its US equity pool as part of a new service called Bloomberg Pool, or BPool.
Developed in conjunction with BIDS Trading, BPool enables traders to interact with liquidity present on Bloomberg’s equities trading platforms and BIDS Trading’s alternative trading system (ATS), which acts as BPool’s order matching engine.
BPool shares the broker-sponsored access model implemented by BIDS Trading, which enables buy-side traders to fully allocate commission dollars to the broker of their choice and pay for brokerage services, such as research.
"BPool provides access to what the US equity markets have been looking for, a
The Newedge Commodity Trading Index finished August up 0.92 per cent, completing a recent run of three consecutive positive months.
Over the same period, the CTA and CTA Trend-Sub Indices finished down 1.68 per cent and 1.87 per cent respectively.
Sector performance data from the Newedge Trend Indicator reveals commodity and currency sectors may have contributed to this difficult run for systematic strategies.
The Newedge CTA Index’s top performers for the month of August included: Armajaro Commodities Fund: est. +3.58 per cent; Quantitative Investment Mgmt. (Global): +0.52 per cent; and Graham Capital Mgmt. (Discretionary – 6V): est. +0.27 per cent.
Linedata has launched Linedata Global Hedge, a platform supporting the full investment lifecycle for hedge funds and alternative investment managers.
Linedata Global Hedge covers trading and order management, through portfolio, risk and compliance management and middle office to investor accounting and reporting.
It is available as single functional modules or multiple modules, is sufficiently scalable to handle the largest and most complex hedge fund requirements and is available as either deployed or as a hosted solution.
Linedata Global Hedge comprises the company’s alternative solutions, together with services from Linedata’s experienced hedge fund team plus established connectivity to a wide
European Commodity Clearing (ECC) has held the first meeting of its newly established risk committee.
The establishment of the committee represents a significant step towards putting clearing houses in the framework of the current clearing and financial market regulation (EMIR regulation, CPSS-IOSCO rules for financial infrastructures).
The new committee, which will meet four times a year in the future, has the task of advising the ECC management with regard to questions of risk management.
On 13 September 2012, the constituent meeting was held in Frankfurt. All members of the committee have comprehensive expertise and long-standing experience in the clearing and
State Street Global Markets has joined CME Group for clearing of over-the-counter interest rate swaps, effective 24 August 2012.
The Dodd-Frank Act in the US and similar measures in Europe mandate centralised trading and clearing to increase transparency and help reduce risk in OTC derivatives markets. State Street’s membership in CME Group expands the clearing options available to clients amid this changing regulatory environment.
“As derivative markets evolve, State Street’s membership provides buy-side clients with a new, neutral model for trading, clearing and processing of their swap positions,” says Cliff Lewis (pictured), executive vice president and head of State Street’s
Industry experts have predicted a transition from a bilaterally cleared OTC business to centrally cleared OTC derivatives, along with an increase in the volume of exchange-traded derivatives, according to a report from Celent.
The trading volumes of exchange-traded derivatives have fluctuated in the last few years and do not reflect the expected rise due to the move toward clearing, says the report, titled “US Derivatives Markets: Staying the Course”. This could be due to a number of reasons, including the slow implementation of the Dodd-Frank Act and the turbulent economic environment.
Volumes of OTC derivatives have held out well
Six out of seven of IndexIQ’s investable benchmark hedge fund replication indices produced positive returns in August, according to figures released by the company.
IQ Hedge Long/Short Beta Index was the top performer returning 2.23 per cent for the period, while the only index in negative territory was IQ Hedge Emerging Markets Beta Index (-0.01 per cent).
The Global Macro Beta Index rose 0.24 per cent, the Event-Driven Beta Index 0.30 per cent, the Market Neutral Beta Index 0.42 per cent, the Fixed Income Arbitrage Beta Index 0.82 per cent, and the Composite Beta Index 0.67 per cent.
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