Solutions
Bclear has processed its billionth derivatives contract, NYSE Liffe announced today. The news follows strong growth in Bclear volumes during 2010: last year Bclear processed 340m contracts, a 31 per cent increase on 2009.
Bclear was launched in October 2005 after NYSE Liffe first identified customers’ needs for a flexible platform for the processing of pre-negotiated equity derivatives transactions. The service was designed to bridge the gap between the bilateral, OTC markets and the listed on-exchange markets, providing traditional users of the OTC markets with the security of trade administration and clearing of a range of options and futures on
LCH.Clearnet has launched its SwapClear Futures Commission Merchant (FCM) service. US interest rate swap (IRS) clients are now able to access this market leading service through any of the 12 FCMs already connected to the service.
Six clients have cleared executed OTC IRS trades on SwapClear in a variety of maturities and currencies, including USD, EUR and GBP.
The 12 FCMs connected to the service are: Bank of America Merrill Lynch; Barclays Capital; BNP Paribas Securities Corp; Citigroup; Credit Suisse Securities USA LLC; Deutsche Bank Securities, Inc.; Goldman Sachs & Co; J.P. Morgan Futures Inc.; Morgan Stanley; Nomura Securities Int’l Inc.;
PerTrac has been recognised by industry publisher Hedgeweek as the “Best Risk Management Software Provider.”
Global Fund Media, parent company of Hedgeweek, polled its 60,000 readers, including more than 20,000 institutional investors, and asked them to assess the best hedge fund performers and service providers during 2010. The results of the Hedgeweek Awards 2011 were culled from over 1,000 responses, and winners were those companies that received the greatest number of votes in their category. When asked why they selected PerTrac RiskPlus, Hedgeweek readers cited its ease of use, its flexibility and the breadth of its risk analysis as key product
The Eurex KOSPI Product exceeded 500,000 traded contracts last Friday for the first time since its launch on 30 August 2010. Average daily volume has been increasing steadily, reaching more than 11,000 contracts in March 2011. On 18 January, Eurex achieved a new daily record of more than 64,000 traded contracts.
“Our Eurex KOSPI Product has been very successful since its introduction,” says Michael Peters (pictured), Eurex Executive Board member. “This is due to our close partnership with the Korea Exchange to offer our customers access to the most widely traded index derivative contract in the world. Our participants do
Advent Software, Inc (NASDAQ: ADVS) has expanded and enhanced the compliance functionality found in Tamale RMS, its research management solution (RMS).
Tamale RMS helps automate and enforce consistent policies and builds compliance into everyday workflows. It also puts firms in a much stronger position to document investment decisions and demonstrate due diligence.
“All segments of the investment industry are expected to face increased regulatory scrutiny in the coming years, so an area of innovation for Tamale has been new modules, reports and enhancements to support best practices in compliance readiness,” says Mark Rice, Senior Vice President and General Manager of
Advent Software, Inc has acquired Syncova Solutions Limited, a privately held UK-based company that provides margin management and financing software to hedge funds and prime brokers. Under the terms of the agreement, Advent has acquired all of the outstanding capital stock of Syncova for an undisclosed amount.
Advent’s Founder and Chief Executive Officer, Stephanie DiMarco, says: “With an ongoing market focus on risk management, liquidity control and operating efficiency, there is an increased demand by hedge funds and prime brokers to automate the margin and finance cost process. This acquisition enables us to extend our footprint by expanding
Newedge has expanded its extensive Financial Information eXchange (FIX) connectivity network to include the Johannesburg Stock Exchange’s (JSE) derivatives markets. Newedge clients can now immediately access the JSE’s widely traded FTSE/JSE Top 40 Index futures contract, as well as select agricultural contracts, including futures on White and Yellow Maize, Wheat and Sunflower Seeds.
Josef Jongkind, Newedge Global Head of Advanced Trading Services Origination, says: “We are continually expanding our electronic-trading capabilities and global reach focusing on our clients needs. With the launch of the JSE gateway, Newedge now offers seamless FIX connectivity across listed-derivative exchanges on six continents and
Direct Access Partners, LLC, the customer-focused, multi-asset trading partner to a diverse range of clients including pension funds, mutual funds, hedge funds and RIAs, has announced a major enhancement to the Global Prime Services platform. The comprehensive offering provides an optimal solution for hedge funds with under USD500 million in assets under management.
Direct Access Partners is one of a few correspondent brokers to Goldman Sachs Execution and Clearing. Complementing the Global Prime Services platform is a robust offering with Pershing, a unit of Bank of New York. Clients may choose among a broad selection of DMA platforms including
On 19 January 2011 the European Commission (EC) suspended national registries in the EU ETS due to a theft of EUAs in a number of those registries. As a result, spot trading was not possible and Climex closed its spot trading platform.
Some national registries have been allowed to re-open since 4 February. A comprehensive solution has not yet been found: uncertainty in the spot carbon market remains and still poses a risk for market participants and clearing houses. Given these uncertainties, Climex and APX-ENDEX have decided to discontinue facilitating secondary trading in the spot carbon market.
All auction related
Electronic trading specialist Instinet Europe Limited has connected to Nordic@Mid, NASDAQ OMX’s non-displayed trading facility for its Nordic exchanges. Effective immediately, Instinet Europe’s institutional clients can access Nordic@Mid via Instinet’s Execution Experts algorithmic suite or its award-winning SmartRouter.
Nordic@Mid matches non-displayed orders at the midpoint of the primary market’s best bid and offer. The platform currently covers stocks listed on NASDAQ OMX’s cash equity markets in Copenhagen, Helsinki, Iceland and Stockholm, and will be extended to cover Norwegian shares later this quarter.
“In Europe, Instinet’s SmartRouter and algorithms access more than 40 exchanges, MTFs and broker-operated dark pools, and we
