Solutions
The US Commodity Futures Trading Commission has approved the applications of Cantor Futures Exchange for designation as a contract market and Cantor Clearinghouse to be registered as a derivatives clearing organisation.
The Commodity Exchange Act requires the CFTC to approve such applications if the applicant meets criteria enumerated in the Act.
Cantor also has requested approval from the CFTC of a contract related to domestic motion picture box office receipts. The commission is still considering that contract.
Given the novel nature of the contract that Cantor has proposed trading, the CFTC has requested, and Cantor has agreed, that rather than
Citigroup has launched the AutoFX Passive Hedge service to provide institutional asset owners with a passive, automated hedging capability to lower foreign exchange risk.
The service provides new levels of flexibility, transparency and efficiency to the FX marketplace.
By using set standing instructions to execute FX contracts based on the securities portfolio valuation, AutoFX Passive Hedge smoothes out the influence of currency fluctuations in the overall return to international investment portfolios.
"Our clients will further benefit from this seamlessly integrated custody and FX offering providing a complete STP solution from deal determination and execution through to payment processing and FX
NYSE Arca Europe, NYSE Euronext’s European multilateral trading facility, will be giving customers access to the 100 most liquid US equities, featuring 86 NYSE listed companies and 14 other listings, from 21 April.
NYSE Arca Europe is inviting customers to set up their trading arrangements and will be offering a three-month fee holiday from 21 April.
The service will provide trading firms the first-ever opportunity to trade US securities on a European platform during European trading hours with settlement at DTC.
In addition to the initial US stocks, further stocks are likely to be introduced in the near future.
Virginie
Knight Capital Group has launched Oasis, a smart order execution algorithm that sources small-and mid-cap liquidity for European equities.
Oasis aims to source liquidity in thin and difficult-to-trade names with increased efficiency and opportunities for price improvement as well as greater fulfilment.
The strategy evaluates liquidity, volatility, price trend, momentum and other characteristics in real time to determine the best sources of liquidity to help minimise market impact.
Oasis also includes anti-gaming procedures such as continuous monitoring for adverse trading behaviour to further help minimise information leakage.
“Knight does not subscribe to a one-size-fits-all approach. That philosophy has led
Citi Investor Services has launched a global operating platform specifically for hedge funds.
The offering provides Citi’s existing and future hedge fund administration clients a fully integrated infrastructure spanning the complete operating lifecycle of a hedge fund: from receipt of trade to daily operations, calculation of the NAV through to the generation of the investor statements.
Citi’s end-to-end solution will establish standardised applications and processes across each region.
The platform also provides support for all investment products, strategies and instruments, and is able to valuate complex securities.
“In today’s challenging hedge fund environment, access to real-time and customizable data is
Sucden Financial is launching direct market access to a wide range of cash equity and derivatives exchanges and platforms to bring multi-asset trading facilities to its clients.
The new system, branded Storm, uses Sungard’s GL technology and enables Sucden Financial’s clients to directly trade equities, options, commodity and financial futures on global markets.
Sucden Financial, a subsidiary of Sucres et Denrées, has in recent years expanded as a broker to institutions, trading groups, hedge funds and high net worth retail clients.
Sungard’s GL technology provides access to cash and futures markets as well as sophisticated functionality and low latency quote
Revere Capital Advisors has formed an equity partnership with Statistical Research Laboratory, a UK based technology company focused on providing the asset management industry with greater transparency.
Revere, a New York, London and Singapore based investment group and hedge fund platform, says the purchase reflects its commitment to provide investors with state of the art technology and operational infrastructure.
Nexus is a fully integrated investment platform providing improved investor transparency and ownership of data, allowing institutions to analyse and evaluate all of their holdings together. It provides an independent audit trail of investment activity, communications and regulations and compliance.
Dan
PerTrac Financial Solutions, a provider of analytic and workflow solutions, has launched PerTrac RiskPlus, a returns-based risk analysis solution.
The new product is a collaboration with FinAnalytica, a provider of real world portfolio risk solutions for multi-manager funds, hedge funds and asset management firms.
“PerTrac RiskPlus is a breakthrough for hedge fund investors seeking more sophisticated risk monitoring for their portfolios,” says Gerry Mintz, PerTrac president and chief executive officer. “Using state-of-the-art statistics based on fat-tailed distributions, dynamic correlations and multi-factor models, PerTrac RiskPlus sheds light on opaque portfolios at a price far less than more traditional or position-based risk
NYSE Arca Europe will admit US equities to its trading platform when it launches the components of the S&P 100 Index for trading during the second quarter of 2010.
EuroCCP will offer clearing services for these securities with settlement taking place via EuroCCP’s account at The Depository Trust Company, the US central securities depository and subsidiary of the Depository Trust and Clearing Corporation.
This service will provide trading firms the first-ever opportunity to trade US securities on a European platform during European trading hours with settlement at DTC.
Initially, S&P 100 stocks will be admitted to the platform; however, further
Fortis Bank Global Clearing Asia Pacific has launched a network that enables algo traders, market makers and hedge funds to access multiple exchanges via proximity and collocation data centres from one single point of entry.
FBGC Asia Pacific worked over a 12 month period to devise the network to encompass over 12 different data centres in the Asia Pacific including official collocation and proximity exchange data centres in Singapore, Sydney, Tokyo and Osaka.
In Hong Kong considerable expense was invested to produce a data centre to harness a location as close to the exchange as possible.
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