Solutions
Custom House, a hedge fund administrator, has launched the Chariot Dealing Platform to complement its existing Chariot Reporting Platform.
The new platform is in the form of an online dealing portal for existing shareholders in Custom House administered funds.
It is designed to increase security and operational efficiency for the funds’ existing investors and managers. It will be soft launched on 1 June.
The new platform has been developed in conjunction with Comada, a provider of web-based technology solutions to the hedge fund industry. It issues investors with automatic electronic confirmation of trades into and out of hedge funds
Transaction technology developer Comada has partnered with hedge fund administrator Custom House to launch a platform for fund managers and their investors.
The platform allows investors in hedge funds administered by Custom House to invest, track and receive investment and redemption confirmations electronically.
It achieves this via browser-based architecture that precludes the need to download software to a desktop computer, integrating with and extending in-house legacy technology.
"The hedge fund industry has needed an application like this for some time now," says Rupert Vaughan Williams, co-founder of Comada. "We are delighted to be working with Custom House who are committed
Six investment banks have launched a voluntary initiative to improve post-trade transparency in the European over-the-counter equity markets.
The six banks – Citi, Credit Suisse, Deutsche Bank, J.P. Morgan Cazenove, Morgan Stanley and UBS – will now report the volumes of cash equity trades crossed in their automated crossing systems via a service provided by Markit.
Reporting will begin today, 24 May, following live testing over the past two weeks.
At the end of each trading day Markit will collate the data from each participating bank, conduct validation checks on the information, and publish the aggregated trading volumes the following
At 08:31 GMT on 21 May, one lot (six tonnes) of three-month molybdenum was traded on LMEselect at a price of USD36,000 per tonne, taking the total amount of minor metals traded at the London Metal Exchange past the USD100m mark.
This milestone has been reached in just under three months since the exchange launched the world’s first exchange-traded futures contracts for cobalt and molybdenum on 22 February this year.
Chris Evans, head of business development at LME, says: “This is an important milestone for the contracts. It’s been an encouraging start to trading in the soft launch phase
Singapore Exchange has secured market makers for the trading of Prudential shares at their 25 May 2010 listing.
The market makers will provide two-way bid/offer quotes to enhance liquidity.
SGX expects to have a pool of liquidity providers committed to trade the shares.
Prudential shares will also be added to the central depository share borrowing facility.
Research on Prudential will be made available in Singapore.
In addition, Macquarie Bank will list a call warrant on Prudential shares listed on SGX. The call warrant has an exercise price of USD8.00, and will start trading at around the same time as the
Tor Brokerage has been launched as an agency only broker-dealer designed specifically to provide automated trading algorithms to its clients.
Tor was developed with the purpose of providing lower trading costs while filling high order volume.
Up until 2009 Tor was the trade execution platform for North Sound Capital, run by Tiger Management alumnus Thomas McAuley and Blue Hill.
According to Tor, cost reduction comes from two sources: lower commissions and smaller pricing slippage, which have an impact on both high turnover investment strategies and long-term benefits for lower trading frequency portfolios. The automated system adds an objective dimension to
As much as 22 per cent of total European equity volume is now executed through alternative trading systems, most of which are registered as multilateral trading facilities.
The data from research consultancies Tabb Group and Aite Group is contained in a white paper by ITG titled “Alternative Trading Systems in Europe: Trading Performance by European Venues Post-MiFID”.
The Markets in Financial Instruments Directive is credited with breaking down the market power traditionally held by national exchanges.
By analysing a sample of trading activity in Europe (5.6 million trades), ITG has determined that alternative trading markets, and dark pools in particular,
GlobalBridge, a provider of unified managed account and separately managed account programmes for trust banks and other non-bank advisers, has selected SS&C Technologies’ UMA technology solution.
GlobalBridge switched its accounting platform to SS&C’s Global Wealth Platform to support its growth in the UMA market segment.
"SS&C’s global capabilities, proven technology platform and expertise in unified managed accounts made them an obvious choice to help launch the next phase of our expansion," said Kelly Coughlin, chief executive officer, GlobalBridge. "SS&C’s order management, portfolio accounting and performance reporting capabilities enable us to offer a superior UMA product compared to competitive offerings. We
Track-Life has launched a web portal that changes the way portfolio managers can view critical information within a life insurance settlement portfolio.
Transparent Life Plus is the first life settlement tracking and servicing system that offers real-time information and statistics on insurance policies held within a life settlement portfolio.
Track-Life, launched in 2008 by executives from The Lifeline Program, has recently entered into an operating alliance with Madison Strategic Partners to broaden its servicing and tracking offerings.
Using Transparent Life Plus, portfolios can be analysed by policy size or type, policyholder demographics, premium amounts due, and dozens of other criteria.
Fidessa group, a provider of multi-asset trading, portfolio analysis, compliance, market data and connectivity solutions for the buy-side and sell-side, is to provide access to the Santiago Stock Exchange (Bolsa de Comercio de Santiago).
The partnership is in preparation for the Santiago Stock Exchange’s trading engine upgrade that is being introduced to accommodate increasing volumes resulting from new DMA and algorithmic flows.
Fidessa’s interface with the Santiago Stock Exchange will provide member firms access to electronically route orders to the exchange via the Fidessa trading platform or by directly leveraging Fidessa’s FIX connectivity.
The connection will also provide Fidessa’s clients
